Please can something be done to stop our commercial banks from extorting us. A case at hand is a demand by Intercontinental Bank for N500 before a "mandatory" switch over of use of current ATM card to what they call a more secure "CHIP and PIN" card. They claimed that the current ATM card will be deactivated by 30th September. However, for the same resource Zenith bank sent me a mail to register for it FREE!

UBA charges N100 for the same card, na wa.

U ar saying N500, mine is 1500 to migrat to the secured verve abi na wetin card.
The other day, they withdrew 100, from my account, calling it overdue charges.
Inshort, infact, our banking industry is an apology, but i think Diamond is diff, cos i have nt
recieved those useless txt messages from them.

This is fraud. This means they are all admitting giving out ATM card when they knew it wasnt secured in the first place. If we have any govt these banks should all be investigated and those who have lost money should be paid back.

intercontinental is just getting worse each day. thank god i have stopped keeping my money there

What is all these unneccessary talks about Intercontinental Bank? What has Akingbola done to deserve all these?'

Its not by force to get the new chip and pin card, you can operate your account without an ATM card if you wish. Intercontinetal bank was the first to get this new secured chip and pin card in line with CBN directive and instead of you giving them Kudos, you come here to open your stupid mouth (fingers) to say such things about them.

the bank is trying to reduce the rate of fraudsters on this on the magnetic stripe cards and that is why they introduced the more secured type, but if the 500 naira is a big deal, tell them you are not interested.

If you are following trend of things, even in the UK, US etc, they are trying to fight fraud, they are introducing and re-introducing all measures in place to curtail fradulent activities. Intercontinental is trying to safe guard your money- get that into your dead brains.

And to you- Cornel 318, overdue charges means that you are currently enjoying a loan facility with them, and at one time you defaulted and if you default, you must be penalised.

please please and please, leave Intercontinental and other commercial banks alone. If you are not happy with the Banks in Nigeria, please put your kobo kobo savings under your bedbugged pillows

GTB is 1000 naira

which one is better- pay N500, N1000 or even N2000 to get a more secured card, or loose all your mony one day to fraudsters?

I dont mind paying to make sure my hard earned savings is not lost

will this demand any payment at all as old customer?

I think its a good thing chip and pin is recognised in Naija as a more secure way of transacting business. I think Intercontinental Bank is going about it the wrong way. You do not charge customers for ATM/Debit card. You should instead persuade them to have it. It makes life easier for everyone. Reduces the crowd in the banking hall and frees up the tellers to do other jobs. Oh well, I forgot Intercontinental Bank is almost distressed, they need all the money they can. Please help them and pay 500 card for ATM.
Their management are a bunch of w***kers! (As a former employee I know this for sure!)

honestly i've not received any text from my bank and i bank with icol

@z-murda, thank goodness you said former employee, becos you do not deserve to be a present employee of that bank. I dont think the likes of you can go far, and that's why you were laid off. The bank even made a mistake employing you in the first place ( thats if truly you were once employed)

kufreabasi:

will this demand any payment at all as old customer?

Yes they demand N500 from both old and new customers alike. But like i said, its not compulsory, if you dont want the card, just notify them and they wouldnt prime any card for you

@kpokpof

why are u defending them are u a staff there ? these card shud be given to cst free of charge after all they charge them a monthly feee for managing their account and i think paying for a card which is one of the services they should provide free of charge is just absolute day light robbery but i understand an industry where there is no laid down rules and proceudre to follow is just absolut nuts. in the uk and customers dont pay for debit card or cash card if u like loose the card 50times u still get a replacement free of charge they make their money via monthly account charges . so the card should be free.

I am not a staff, I am a customer and i am not defending them.

Its just these Nairalanders think they can just wake up and tarnish the reputation of a bank. They've been up against Intercontinental, oceanic and co, and now its Intercontinental again. Its really annoying.

now back to the points you raised- Yes in the Uk debit cards might be issued fred of charge and they will be deducting a specific amount monthly for account management. Buy here in Nigeria, i dont think they do that.
Intercontinental does not debit you monthly for maintaining your account, so if you need the card, you pay one off and thats it, no additional charge, and if you misplace the card, you will get a charge of N1000 for a card re-issue, If you dont put those laid down procedures, Nigerians would abuse it by being careless with their cards and blame the banks if they loose their funds.

The other magnetic stripe cards were issued free of charge (I guess their staff will correct me if i am wrong.), so whats all these song and dance about N500 for a more secured card. Why didnt that GT Bank customer open a thread to thrash GT Bank for charging N1000 on the same card Intercontinental charges N500 for?

I just feel the public is not being fair on the Intercontinental bank, if they are in one way not pleased with the bank, there are at least other 23 banks in Nigeria, they should quietly pull out their funds from intercontinental and move to another bank and let the serious minded people find space, peace and serenity to carry out their business with Intercontinental.

just to correct you , all banks in nigeria charge for debit card, magnetic or not magnetic, they charge for using cash machines, for sending you text alert which is known as telephone banking, printing statement, and i am sure they charge a monthly fee for managing acct and i tink its about 100 naira or so. infact in naija they charge you for anything and everything. i wont be suprised if they start chargin you for steeping foot inside the banking hall.

Haba!!! charge you for stepping into the banking hall, that is hilarious

But anyway, i dont think i have ever noticed a monthly charge for account maintainance on my statement, and my first ATM card was FREE, this i am very very very sure about. The only thin is that they charge you N50 whenever you use the ATM machine and initially i didnt find it funny, but i am kind of cool with that now, afterall how else do u expect them to pay their workers and maintain the assest of the bank.

They also charge N100 monthly that is if you registered on their internet banking platform. Asides those charges, i dont know anyother. I operate an IPSA and a current account with them and i must say i am satisfied, my only problem is that the banking all is always jam packed, and if these complainers can move to any community bank or microfinance bank, then they should go and lets find space to transact whenever we need to

All the banks use the slightest excuse to ripoff customers.If they have really imbibed a true customer service culture they should offer this service free to transition thier customers to the so claimed more secured pin service.Ask yourself, where is the so called  service delivery in all this?, rather what we have is a theater of the absurd and endless tales with the banks.They are simply looking to recover some money lost in shares crash and bad loans.

Stop complaining guys.

These banks are providing services for you and you have to pay for the services or you move on.
Just to print a statement of account here I ammade to pay.

That another bank charges more or less or decides to give it to nyou free is their own business decision. At the end of the day, you are a customer. You decide what you want.

Extortion ?
Banks are profit making businesses and not government organisation. If you don't like Intercontinental Bank service go elsewhere. It is a free country. You may even put your money in your socks.

Tell Told them there

It's shocking that banks charge its customers AT ALL!!!!!
Only in africa
How can they be charging you for using your money to do business?

Try First Bank. And I mean this. Their ATM issued in February of 2008 is a chip card and it was issued to me free-of-charge. That was more than a year ago!

Withdrawal from any of First Bank ATM is also  free-of-charge. To hell with this new generation exploitation capitalist! You have a choice, why complain when you have a choice? Or are you just been mischievous? This is not a remote possibility, I also questio why this type of thread will be posted on the home page of this noble forum or  

Last week, My younger brother lost N30,000 from his Intercontinental Bank Account.   Funny enough, he had submitted his ATM card to the bank's customer service personnel about a week earlier for renewal. We were having a family dinner when two Bank SMS messages were sent to his phone confirming withdrawals of N10,000 and N20,000 consecutively from his account. He rushed to the bank the first thing in the morning and the bank confirmed the cash was withdrawn from an ATM in Lagos, while his ATM card was still in their possession. (Intercontinental Bank PH)

Whatever stories will these bank fools tell us next? They're still on the case as we speak! If the justice system in Naija were functional, a couple of lawyers would be warming up by now for a massive lawsuit and millions in damages. Nevertheless, to let peace reign, we're just praying for a quiet credit of the missing funds, and nobody gets hurt!  

They charge you for keeping your money safe,
Its still your desicion to keep ur money under your bed if u wish,

Yes, they use your money to trade but Banks of nowadays have gone beyond deposits & withdrawal

Comparing banks in the Uk & naija is like comparing apples & oranges
Credit, Debit cards & ATM withdrawals are free in the UK , Yes but the operators do not have to worry about power outages, internet fluctuatuions & to a great extent the ever unwelcomed guest, Ole (Thief),

The UK banks make money of your credit & debit cards every time you make a purchase, they charge the selling organisation which over time will probably make up & surpass the initial amount used to produce the cards,

Nigeria is still a predominantly cash based society, i stand to be corrected in saying an individual can not carry out full scale shopping from groceries to bus tickets, electronics to clothes on d internet in Nigeria, so our banks have to make a return on their investments in charging what they deem appropriate for the cards,

PS- i do not bank with or have any association with Intercontinental

This guy call "kpofkpof ' is very stupid or mannerless, you just dont talk to people like that despite their money and bastard reasons they are giving to them. How could you? us, uk you were reffering too did this free without exployting custormer and ATM is free any where I live here and You cant tell me about banking system abroad,dont miss lead pple or talk to them any how for their money. Be among to fight for pple right and not hacking their money stylishly,im sure you have something or connection with that bank or maybe you are waiting for a loan like Virgin Airline did to GTB and they are now in court. Man you are not a good Nigeria and dont fucking dare to reply me beccause you will hate youself,i live abroad so dont say anything about abroad as you know nothing,they dont exployt pple like pple do without any action from the govtm. Goodluck I hate pple like you in that country, kiss ma ass niga

there is one thing i am very sure of. the enemies of intercontinental bank had not relent. they are out there like virus to eat up a Bank that had refused to fall. what is the big deal about this bank? funny enof, you keep on publizing and making the bank gained reputation. if you aint interested in the banking services provided by inter why dont you just go instead of making nasty comments. for sure, it is only the successful ones that are targets to failures. the bank is gaining strenght from day to day (i would advice you to do a check). inter has successfully come out from the demarketing saga and its poise to do great things. you could go and keep you money elsewhere. inter dont need customers like you to survive. it survival is solely on God.

Wouldn't u guys rather bank with GTB? GTB remains the best in all

Simple soul or what ever your name is, please try and play safe with grammar.Don't know if u are fronting for inter or you are a staff, this is a public forum and you may end up a dis service to them if you keep up with the bombs.The guy from P.H is a case in point as to the daily occurence of mischief associated with the banks these days.The tales are endless.

There is nothing bad if theu charge money nigerians are willing to pay as long as they get value for what they are paying for. imagine money taken from your account as someone mentioned earlier fradulently and the money isnt refunded. nonsense. as long as nigerians are receiving value for their money den no wahala ut they are not thats why dey are complaining.

imagine going to a bank and making a deposit into ur account and decided to make a withdrawal same time and you are told systems are down and you cant withdraw. thats rubbish.

Perhaps that is just how they want to make up fund owing to the CBN plan to reduce the number of banks to 15. Anyhow they really have to take it easy on their customers cos they the reason they are in biz.

kpofkpof:

@z-murda, thank goodness you said former employee, becos you do not deserve to be a present employee of that bank. I dont think the likes of you can go far, and that's why you were laid off. The bank even made a mistake employing you in the first place ( thats if truly you were once employed)Yes they demand N500 from both old and new customers alike. But like i said, its not compulsory, if you dont want the card, just notify them and they wouldnt prime any card for you

why so much venom in your posts

kpofkpof:

What is all these unneccessary talks about Intercontinental Bank? What has Akingbola done to deserve all these?'

Its not by force to get the new chip and pin card, you can operate your account without an ATM card if you wish. Intercontinetal bank was the first to get this new secured chip and pin card in line with CBN directive and instead of you giving them Kudos, you come here to open your stupid mouth (fingers) to say such things about them.

the bank is trying to reduce the rate of fraudsters on this on the magnetic stripe cards and that is why they introduced the more secured type, but if the 500 naira is a big deal, tell them you are not interested.

If you are following trend of things, even in the UK, US etc, they are trying to fight fraud, they are introducing and re-introducing all measures in place to curtail fradulent activities. Intercontinental is trying to safe guard your money- get that into your dead brains.

And to you- Cornel 318, overdue charges means that you are currently enjoying a loan facility with them, and at one time you defaulted and if you default, you must be penalised.

please please and please, leave Intercontinental and other commercial banks alone. If you are not happy with the Banks in Nigeria, please put your kobo kobo savings under your bedbugged pillows

I read your post and just wondered why you will put such up having said you are not a staff. Everyone gets money in different ways,while it might be easy for you,it may not be that easy for others.
Why should a bank charge you extra for making your money more secured? What service would they render to you for free then?
They charge you for using your card
They charge you for using your cheques
They charge you for transactions on your account
They charge you for transferring your money and now your saying its ok for them to charge for changing your cards to chip and pin?
I think its parasitic and very wrong. The financial services need to sort them out.
Banks in other parts of the world don't make money in these cruel manners. They need to be told that bank makes money by investing money and not by being a parasite on their unfortunate customers.