faceland:
Those are 50 and 100 naira service. Then the bank would cut 25 naira for a 100 service. End of month, they would also cut 4 naira for the SMS alert they sent you. You end up paying 139 and then merchandise end up receiving 98 naira.

It doesn't even make sense to do tiny transactions digitally.

You said something

Tookool:

I have never had such experience oh, After withdrawing from the pos or after I have recieved a debit alert for a transfer transaction, then my money is reversed back to me. Does it truly happen ?

Nothing like that happens anywhere. I wonder where hebgitnhis own experience from.

Na cashew nut

Illegal1:
No be only cashless

CrownOfClay724:
The only thing I pay for with cash is okada and danfo.
I get all my Groceries from a nearby supermarket and they accept card or transfer.

For work, I pay for all my supplies with transfer.

Quit the complaints and embrace change.
Leave this needless ground standing.

i wonder how some of you guys can be so selfish and also your way of reasoning, so what happens if you exhaust all the cash on you while paying for the okada and danfo, you'll perhaps go about with bank form and ask them to open a bank account because you want to pay them ₦100

What will happen to the old women that does not know anything about technology

What about the low income earners that cannot bear the unnecessary bank charges

What about wanting to cook at home and I've exhausted my matches, i should transfer ₦50 for the matches and bank should charge me ₦50 extra. Isn't that unnecessary way of spending money? Or should I go to supermarket buy a pack of matches for #200 like matches is the only thing I'd be eating at home
What about small small kids that depend on their parents to give them money to spend in school or should they go about with ATM card too or phones? If they won't lost in within a week

I can go on and on... But because u can easily afford those things now you are saying people should quit the complaint . Sorry to say its a senseless way of thinking

Tookool:

I have never had such experience oh, After withdrawing from the pos or after I have recieved a debit alert for a transfer transaction, then my money is reversed back to me. Does it truly happen ?

yeah it happens when the transaction is not approve, only approved transactions are irreversible.

bercarray:
i wonder how some of you guys can be so selfish and also your way of reasoning, so what happens if you exhaust all the cash on you while paying for the okada and danfo, you'll perhaps go about with bank form and ask them to open a bank account because you want to pay them ₦100

What will happen to the old women that does not know anything about technology

What about the low income earners that cannot bear the unnecessary bank charges

What about wanting to cook at home and I've exhausted my matches, i should transfer ₦50 for the matches and bank should charge me ₦50 extra. Isn't that unnecessary way of spending money? Or should I go to supermarket buy a pack of matches for #200 like matches is the only thing I'd be eating at home
What about small small kids that depend on their parents to give them money to spend in school or should they go about with ATM card too or phones? If they won't lost in within a week

I can go on and on... But because u can easily afford those things now you are saying people should quit the complaint . Sorry to say its a senseless way of thinking

You are both saying the same thing, which is Cash payments should be for little items.

ITbomb:
But on a normal day, you don't need a POS machine, all you need is your bank app which will generate the QR code

How does this work please?

Penguin2:
I’ve said it many times that only fools and idiots with ulterior motives are fighting against the policy.

Others are political thugs rented by scrupulous politicians to cause mayhem until CBN is forced to give them extension into the election so that they can buy votes.

Legitimate business men and women are adjusting to the policy already without much complaints.

But I trust Buhari to stick to his guns. It would be a shame if Buhari allows Tinubu errand boys to outwit him.

But the game is on…

Na by force? Cashless for transaction above N10million is okay. Leave traders out of your epileptic cashless idealogy!!! Going cashless without network. Ndi Ara!

churro:

You are both saying the same thing, which is Cash payments should be for little items.

when he said people should quit complaining, meanwhile many people are complaining because even the cash to buy little item is not accessible, that's why many people are complaining

faceland:
Those are 50 and 100 naira service. Then the bank would cut 25 naira for a 100 service. End of month, they would also cut 4 naira for the SMS alert they sent you. You end up paying 139 and then merchandise end up receiving 98 naira.

It doesn't even make sense to do tiny transactions digitally.

They take money for electronic transfer device, VAT and Electronic something (I can't remember this last one) for every transaction before they take the one for end of month

Omo!!!!!! See aboki with Moniepoint terminal emefiele will never be forgotten in a hurry.

Enemyofpeace:
I think at this point in time, we are good to go cashless

Go and deal with villagers, farmers mostly. You will know that, no cash no trade.
Even today that I talked to our middle woman concerning the agricultural product I want to buy (around 600k), she said no cash no show.

Rubbish. Is it today that small businesses don dey do cashless ni? Something that most people already do with POS to receive payment and the likes.

But this one that has no made cash so difficult to get is what is making me vex. Since all these nonesense started he no pain me reach the way he pain me today. Small money I say make I collect I no see am collect.

Gboyin e ni jeere. E ma shey oriburuku ni

CrownOfClay724:
The only thing I pay for with cash is okada and danfo.
I get all my Groceries from a nearby supermarket and they accept card or transfer.

For work, I pay for all my supplies with transfer.

Quit the complaints and embrace change.
Leave this needless ground standing.

Illiteracy is very high in Nigeria, higher in the North. 60% of Nigerians don't have bank accounts. Many that have can't do simple transactions on their own because they don't know how to.
Everything shouldn't be about your standard. There is no country without cash. If some countries are talking about going cashless, Nigeria shouldn't even try it. Where is even the facilities?

smokinloud:

Yes it does.
E be like you no know the kind country wey you dey.
Let your last card hang for Zenith bank and you are on the verge of obtaining jamb form for your sibling on a deadline day na den you go know say Generational curses dey for Nigeria true true

A transaction that you've received a debit alert can never be reversed again, except if there is no debit alert, then it can be reversed.

Tookool:

I have never had such experience oh, After withdrawing from the pos or after I have recieved a debit alert for a transfer transaction, then my money is reversed back to me. Does it truly happen ?

It happened this evening when I helped a friend transfer money from Sterling bank to UBA, money deducted and debit alert received. Some minutes later, credit alert received. I had to do it again.

IfnobeGod20:

A transaction that you've received a debit alert can never be reversed again, except if there is no debit alert, then it can be reversed.

Talk what you knew for sure.

Hmmmmm.

smokinloud:

Yes it does.
E be like you no know the kind country wey you dey.
Let your last card hang for Zenith bank and you are on the verge of obtaining jamb form for your sibling on a deadline day na den you go know say Generational curses dey for Nigeria true true

Mr man, everything you typed is shit. A confirmed or approved transaction doesn't reverse back.
It is only unapproved or network affected transactions that are reversed.

Say what you know please.

maasoap:


Illiteracy is very high in Nigeria, higher in the North. 60% of Nigerians don't have bank accounts. Many that have can't do simple transactions on their own because they don't know how to.
Everything shouldn't be about your standard. There is no country without cash. If some countries are talking about going cashless, Nigeria shouldn't even try it. Where is even the facilities?

Please there is no alternative to this cashless policy. You don't need a complex education to use technology to send, transfer or receive money. Thankfully, even 3,000 naira phone is good to go to do transactions of any kind.
No country carry cash around like Nigeria. You will even be surprised that Nigerians stockpiled millions at home for no reason. Money that suppose to be in circulation to help grow the economy, few pile them inside their rooms.
Rarely can you see huge dollars in the hands of average Americans. They are always with their credit cards.
In my station I have started encouraging people to go and open account in banks and I have started teaching them how to use phone to send money through my own phone and those with phones.
We need not deceive ourselves, there is no alternative to this cashless policy.

I think they call it “charge back”

Tookool:

I have never had such experience oh, After withdrawing from the pos or after I have recieved a debit alert for a transfer transaction, then my money is reversed back to me. Does it truly happen ?

Tookool:

I have never had such experience oh, After withdrawing from the pos or after I have recieved a debit alert for a transfer transaction, then my money is reversed back to me. Does it truly happen ?

Yes it happens.i have experienced it first hand.

smokinloud:

Yes it does.
E be like you no know the kind country wey you dey.
Let your last card hang for Zenith bank and you are on the verge of obtaining jamb form for your sibling on a deadline day na den you go know say Generational curses dey for Nigeria true true

maasoap:


It happened this evening when I helped a friend transfer money from Sterling bank to UBA, money deducted and debit alert received. Some minutes later, credit alert received. I had to do it again.



Talk what you knew for sure.

You're arguing what you don't know, the argument is based on POS transactions and not bank to bank transactions.
Even in bank to bank transactions, confirmed transactions are not reversed.
So, if person buy goods from another and the seller has seen the money in his/her account, such money can still be reversed?

The money might have been reversed because the receiving bank's network no dey good.

In the case of POS, it won't approve it when the network is not good or the customer's bank is not connectable, although the money might hang but it won't show approve on the screen or printout.

faceland:
Those are 50 and 100 naira service. Then the bank would cut 25 naira for a 100 service. End of month, they would also cut 4 naira for the SMS alert they sent you. You end up paying 139 and then merchandise end up receiving 98 naira.

It doesn't even make sense to do tiny transactions digitally.

There are other convenient options like mtn mobile money And some other e wallets that charge next to nothing for micro transactions

IfnobeGod20:

A transaction that you've received a debit alert can never be reversed again, except if there is no debit alert, then it can be reversed.

You're wrong... That you've never experienced it doesn't mean it doesn't happen. It's happened to me on few occasions. Both for "approved" and denied transactions

maasoap:


It happened this evening when I helped a friend transfer money from Sterling bank to UBA, money deducted and debit alert received. Some minutes later, credit alert received. I had to do it again.



Talk what you knew for sure.

No approved transaction is reversed, except the unapproved ones. And that should be as a result of bad network. If it is not network induced or interference, if it goes and you received debit alert, it won't be reversed.

faceland:
Those are 50 and 100 naira service. Then the bank would cut 25 naira for a 100 service. End of month, they would also cut 4 naira for the SMS alert they sent you. You end up paying 139 and then merchandise end up receiving 98 naira.

It doesn't even make sense to do tiny transactions digitally.

All these cashless policy is about making more money for banks and FG. The little ones they have tasted is the reason why FG is hell bent on going fully digital even with no adequate facilities to support it.
Transferring money from your account to another account of yours didn't attract electronic charge of N50 before (10k and above), that was CBN instruction. But they quietly removed that instruction without any announcement.

IfnobeGod20:

No approved transaction is reversed, except the unapproved ones. And that should be as a result of bad network. If it is not network induced or interference, if it goes and you received debit alert, it won't be reversed.

You are like a robot. Debit alert received, then credit alert received minutes later. Which is part you didn't understand?

nkem1992:

yeah it happens when the transaction is not approve, only approved transactions are irreversible.

You're contradicting yourself biko. And also, you are repeating what he said in different way.

You said it happens, same you said only approved transactions are irreversible.

AllDModsAreMaad:


You're arguing what you don't know, the argument is based on POS transactions and not bank to bank transactions.
Even in bank to bank transactions, confirmed transactions are not reversed.
So, if person buy goods from another and the seller has seen the money in his/her account, such money can still be reversed?

The money might have been reversed because the receiving bank's network no dey good.

In the case of POS, it won't approve it when the network is not good or the customer's bank is not connectable, although the money might hang but it won't show approve on the screen or printout.

The guy who first made the claim wasn't talking POS.

maasoap:


You are like a robot. Debit alert received, then credit alert received minutes later. Which is part you didn't understand?

You're du mb o, that means it is not approved.
Meaning network affected it from reaching the receiver's end.

Again, the argument is centered on POS transactions where the term "Approved" is used for confirmed transactions, and not bank transfers etc.