Fellow nairalanders I do know if you are passing through this incessant deduction of money by banks.

Over 6months I have noticed incessant deduction of money from my first bank account. Whenever I deposit money into my account, I do get charges for depositing into my own account from the said bank.

The charges varies, depending on the amount deposited. For example if I deposit 5000 and above at any first bank branch, I will be charged for electronic transfer charge.

Likewise if I withdraw money using atm or from first bank canter, I do receive extra debit for electronic processing fee as well.

weeks ago I withdrew some money from atm machine at Oshodi . I was charged extra #45 each on every 20k I withdrew.

This is uncalled for, I went to first bank Mushin branch to complain, only for the customer care to say that "am I not in Nigeria"

Picture attached

Hi,
Sorry about that
The #50 is as a result of the new Nigerian Financial Act(2020) which states that for every deposit of 10,000 and above, all account holder will be charged 50# 'Stamp duty".

The stamp duty was later changed to "Electronic fee'

Any time you deposit or you receive any amount from 10,000 and above, you will be charged #50 electronic fee charge per deposit.

As for the charges you observe when you withdrew money on another ATM card, each customer is charged a fee for using other Bank's ATM machine after the "Third attempt" in a month

Thank you for this enlightenment. What the custom care suppose to explain better.
Only for her to say are you not in Nigeria

AJOBI77:
Hi,

The #50 is as a result of the new Nigerian Financial Act(2020) which states that for every deposit of 10,000 and above, all account holder will be charged 50# 'Stamp duty".

The stamp duty was later changed to "Electronic fee'

Any time you deposit or you receive any amount from 10,000 and above, you will be charged#50

Apologies.