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You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC - Business (2) - Nairaland

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Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Okoroawusa: 11:59am On Aug 21, 2021
Upon it was well stated that this info is for "cumulative cash deposit" in the post yet some ignoramuses are foaming from the mouth.

What is going on with youths of this generation? Someone recently said that if you want to hide an information from Nigerian youths make it more than one paragraph.


We are in trouble in this country o!

17 Likes

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Nobody: 12:09pm On Aug 21, 2021
chloride6:


Why do you think so?


Those who has more than $10,000 will try to withdraw and save at home or anywhere except the bank.

That means more rush for dollar. Shortage of dollar.
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Alusiizizi(m): 1:00pm On Aug 21, 2021
Difrent:


Whatever gains you make will be taken by p2p dealers when you want to convert it to naira....its just a waste of time keeping your money in USDT

Not true. For bitcoin maybe. USDT is supposedly a very low volatility instrument. The reason why the spread in bitcoin is so high is because of the volatility, which usually hangs around 10%~15%.

6 Likes

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by 2rez: 1:26pm On Aug 21, 2021
Na all these kain yearns dey promote corruption na. Dusty yearns. Amongst the reasons why our evil corrupt leaders go dey stack anyhow money for foreign countries.
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by lalasticlala(m): 1:55pm On Aug 21, 2021
iwaeda:
Hope it will include ALL our Polticians including Buhari Jnr?
Lalasticlala.

Why is it not on their page, social media accounts?
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by iamyemiakins(m): 2:06pm On Aug 21, 2021
Na yahoo boys be their target, no mind dem
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by templemount: 2:39pm On Aug 21, 2021
9japride:
All these policies have polical undertone. Any other explanation is just childish talk. All these is just to reduce the amount of money coming from foreign based Nigerians because of the fear of the unknown by those in power. Smh
u nailed it

1 Like

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by iwaeda: 3:00pm On Aug 21, 2021
lalasticlala:


Why is it not on their page, social media accounts?

It was sent as mail. May be coded for some set of customers!
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by iwaeda: 3:03pm On Aug 21, 2021
inderhappy:


Ok....was told a month a ago that i can only deposit 5000usd and transfer the same in a month tho
The only one I knew is you can not spend more than $100 per month on your naira card. If you have dom account, you can not send more tham $10,000.00 per day, but this new law is strange.
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by iwaeda: 3:09pm On Aug 21, 2021
lalasticlala:


Why is it not on their page, social media accounts?

The is the screenshot of the mail, with name covered.

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by KazikageSama: 8:31pm On Aug 21, 2021
Deposit Sir. Not total amount in your Dorm account.

11 Likes

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Cokahot: 8:31pm On Aug 21, 2021
While I have 85k overseas,is Biden not my guy.
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by snoopz: 8:32pm On Aug 21, 2021
In Nigeria, we have the rich poor and the rich rich

This rule is for the rich poor tho

1 Like

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Wigetsolar: 8:36pm On Aug 21, 2021
That means that the ultra rich won't bank their monies but keep it elsewhere.

1 Like

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by vertueptime: 8:37pm On Aug 21, 2021
Customer with over 10k that arw not aware, wat will happen to her monies

iwaeda:
Dear Customer (Name),

This is to inform you that effective Monday, 23 August 2021 the cumulative cash deposit on USD accounts will be revised to a maximum of $10,000 (USD) monthly. While you will be able to make multiple cash deposits within the month, the total cash deposit summation will be capped at $10,000 (USD) in any calendar month.



We assure you of our continued commitment to serving your best interest as much as possible.



Thank you for your continued patronage.



Best Regards,



Stanbic IBTC Bank
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by TheRealestGuy(m): 8:37pm On Aug 21, 2021
zanshi:
Emefiele remains the dumbest CBN gov to ever assume that office. You cant just wake up gag everyone with investors inclusive and expect people not to react. 2016 when they assumed office, they woke up one day and devalued the Naira without consulting anyone and making them aware of what was at stake. Nigerians now went ahead and started hoarding their saving in foreign currencies to save their investments. An average joe like me growing up never cared about having stash of foreign currencies aside if i was travelling abroad or a friend showed it to me, but now we are forced to hold it to hedge against the falling Naira.

Lebanon comes to mind. When Lebanon was facing serious economic crunch back in 2019,2020, the govt started putting a cap on how much you could withdraw from banks both in foreign exchange and local currencies, that ordinarily created a crisis and unstability in the economy, and Lebanon isn't what we know of it anymore. Guys you see, one of the major criterion we have to agree on in unison is that tomorrows world leaders must be well grounded in economics and money management because elections have consequences. American went about selling globalization and democracy to the whole world, but what they wont tell you about democracy is that if you elect the wrong leader to public office, you are "SCREWED".


The best way we can get out of this mess is to go back to exports, we have to produce what we can and sell for any amount of foreign exchange we can. When Nigeria was getting it right in the 60s, 70s and 80s we were exporting a shit ton of commodities and every region was doing well on it's own from Cocoa to oil palm we were doing a lot of numbers there. Buhari's main focus should have been Manufacturing and Exports, those are the 2 job creators that have proven to be of great success anywhere.



Good analysis.

Until we start exporting much more than we currently do, the country is fuucked cos we virtually live on importation.

However, I think you are not seeing the full picture. Don't you think that "the presidency" has a hand in the churn out of harmful policies that only serve a few?

Remember in the 2016 devaluation incident, even SLS came out to say how he could be billions richer daily if he wanted.

It is a hand of Esau and voice of Jacob situation man.

1 Like 1 Share

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Tareq1105: 8:38pm On Aug 21, 2021
iwaeda:
Dear Customer (Name),

This is to inform you that effective Monday, 23 August 2021 the cumulative cash deposit on USD accounts will be revised to a maximum of $10,000 (USD) monthly. While you will be able to make multiple cash deposits within the month, the total cash deposit summation will be capped at $10,000 (USD) in any calendar month.



We assure you of our continued commitment to serving your best interest as much as possible.



Thank you for your continued patronage.



Best Regards,



Stanbic IBTC Bank

Emefule and counter productive policy
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Navalsadiq(m): 8:41pm On Aug 21, 2021
When will access bank increase their limit to 10 thousand USD
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by ugwumichael(m): 8:41pm On Aug 21, 2021
I think this refers to monthly deposits and not savings limit

2 Likes

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Evii: 8:41pm On Aug 21, 2021
Is this be applicable to our politicians?
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Ggee(m): 8:41pm On Aug 21, 2021
Thank you sir. Seem you are the only that read the message.

Cumulative deposit in a month does not translate to total in your account.

KazikageSama:
Deposit Sir. Not total amount in your Dorm account.
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Focusmind: 8:42pm On Aug 21, 2021
Good!

I am not a fan of Buhari but sometimes, the Soviet era kind of system is what fits Nigeria and Nigerians. We keep complaining about naira falling against the dollar yet, most Nigerians, especially the middle class and the rich, keep storing their wealth in dollars. What do you expect? The pressure on naira will continue. Nigeria is not a productive economy. We import most of the things we consume and you expect the naira not to fall.

Billions of dollars are sitting in peoples domiciliary accounts doing nothing. Government is not a magician to stop the free fall of naira. It should be collective effort. Agreed that the government has a role to play in arresting the free fall of naira, the citizens are also culpable. our penchant for foreign goods knows no limit. Everything in this country is "dollarized" and the government is also contributing to this dollarization.

However, some hard measures are needed to save the situation. If nothing is being done about this free fall, dollar will hit N2000 per $ by end of next year. People are offloading their naira accounts and changing them to dollars and pay them into their domiciliary accounts. These are the things that continues to pile pressure on naira.

10 Likes 1 Share

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by fredoooooo: 8:42pm On Aug 21, 2021
What's wrong with these fools again ... dem just like to make thing s complicated for people... wheresas they know the main thieves they will not go after those but real hustlers.
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by samsard(m): 8:43pm On Aug 21, 2021
olisaEze:
So if my dom acct gets foreign inflow of $100k at month’s end, will $90k be auctioned off without my approval? There are supposed to be limits to policy changes enacted by the CBN to protect foreign investment confidence na. undecided
Inflow is different. But they'll investigate the source of large forex inflows.
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by ppogba: 8:44pm On Aug 21, 2021
otosa:
I think this will stop those that keeping the largest amount of dollars in their account for long period of time without using it.

Is keeping your money in an account for long without using it a crime known in banking?
Elementary knowledge of banking will even show you that is to the advantage of the bank.

2 Likes 1 Share

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by Larrykaysail(m): 8:44pm On Aug 21, 2021
iwaeda:
Dear Customer (Name),

This is to inform you that effective Monday, 23 August 2021 the cumulative cash deposit on USD accounts will be revised to a maximum of $10,000 (USD) monthly. While you will be able to make multiple cash deposits within the month, the total cash deposit summation will be capped at $10,000 (USD) in any calendar month.

This is just like US banking system , only business account can do more , it's a good development for Nigeria banking


We assure you of our continued commitment to serving your best interest as much as possible.



Thank you for your continued patronage.



Best Regards,



Stanbic IBTC Bank
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by COMPAQ(m): 8:44pm On Aug 21, 2021
olisaEze:
So if my dom acct gets foreign inflow of $100k at month’s end, will $90k be auctioned off without my approval? There are supposed to be limits to policy changes enacted by the CBN to protect foreign investment confidence na. undecided

Gosh! Nigerians never actually read the story! The headline is actually very misleading and very different from the story. The story takes about maximum deposit in cash per month. It doesn't stop you from depositing $10k every month in the year for $120k at the end of the year. And if your money comes in via inflow, then non of this affects you.

10 Likes

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by michlins(m): 8:45pm On Aug 21, 2021
Wetin dey vex me be say even people who don't have #10,000 for account go follow complain

7 Likes 1 Share

Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by bluefilm: 8:46pm On Aug 21, 2021
This is just ONLY for STANBIC IBTC customers, right? undecided
Re: You Can Only Have A Maximum Of $10,000 In Domicilary Account - Stanbic IBTC by ugwumichael(m): 8:48pm On Aug 21, 2021
lalasticlala:


Why is it not on their page, social media accounts?

I received the mail as well

1 Like 1 Share

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