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Nairaland Forum / Science/Technology / Technology Market / Exchange Rates Of International Currencies >>>Updates on First Page<<< (1271592 Views)
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Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Youngzedd(m): 6:00pm On Sep 15, 2015 |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Zface(m): 6:50pm On Sep 15, 2015 |
M nt talking abt paypal. Its ebay account and i dnt think i did anything wrong. I was asked to verify my account in which i wasnt to do so dat day. I'm using nigeria paypal account. lordkay10: |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Futurewiser: 8:32pm On Sep 15, 2015 |
kasala don burst. 220 from 212? chai yawa don happen na wa ooh gbege don drum 1 Like |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by tonjeola(m): 2:52am On Sep 16, 2015 |
Futurewiser: |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by coretechng1(m): 4:29am On Sep 16, 2015 |
Member of this great house:Stanbic rate = First Bank rate?
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Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Zface(m): 6:55am On Sep 16, 2015 |
I think its right time we start campaign against these banks exorbitant rates on mastercard via various social media. 2 Likes |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by whizcode: 7:33am On Sep 16, 2015 |
Stanbic ibtc bank 5$ charged 1100naira 220/1$ |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by sucaba: 7:51am On Sep 16, 2015 |
GTB and First Bank charged 220 15Sep. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by agentakins: 8:22am On Sep 16, 2015 |
Stambic is now #220/$ |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by ewizard1: 9:29am On Sep 16, 2015 |
Ha... Bet Y! And those Stanbic Mobile personell just met me in class and i opened the acc. I would still still go ahead sha. Tomorrow migth be a better day! |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by tdjeans(m): 9:58am On Sep 16, 2015 |
Stanbic just charged me 220 also for a PayPal transaction. agentakins: |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by mavinc4u(f): 10:26am On Sep 16, 2015 |
is there any standard chartered customer here, please what is your rate? I need to close my Stanbic ibtc account. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by gowaga68: 10:44am On Sep 16, 2015 |
mavinc4u:What's good about SC? |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by damola1: 10:50am On Sep 16, 2015 |
mavinc4u: 219.45 |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by modath(f): 11:00am On Sep 16, 2015 |
mavinc4u: Nor bother, na 225+ range (even when we were enjoying 199.5 with stanbic) , & leave 1st bank inconsistency alone ooo, Na so dem lie to my friend that their rate was 199.5 in july, sunday they'll do 220, tuesday 217, wed it will be 237 naira, when she calls (intn'l call fa ) to complain, they will tell her " IT'S MASTERCARD RATE FOR THE DAY" Sister, just curse stanbic & stay put. What stings is that I'm supposed to send money to a friend to get my baby some supplies since 2wks but been foot dragging... Have to do it today or tomorrow cos i read on the biz thread that a devaluation to 220 is imminent in the next few weeks... God will help us. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by mavinc4u(f): 11:28am On Sep 16, 2015 |
modath:Don't mind the guy talking about devaluation to 220, he is making that noise because of Stanbic rate. Meanwhile people should expect alot of anomalies using Stanbic card. I noticed alot of things from that bank after their website upgrade on Sunday. 1 Like |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by softtouch2(m): 1:20pm On Sep 16, 2015 |
tumababa: GTB Sept 15th Transaction: $1 = ₦ 220 |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by warrenweste(m): 1:22pm On Sep 16, 2015 |
Unity bank is 221 |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by mavinc4u(f): 1:36pm On Sep 16, 2015 |
gowaga68: There is nothing good about any of them. I am just looking for bank with lowest rate jare |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by onatisi(m): 2:01pm On Sep 16, 2015 |
mavinc4u:you will have to Wait for a very very very loooooooooonnng time |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Carshopper(m): 2:28pm On Sep 16, 2015 |
i have some dollars say about 250$ which i can help any purchase items dt can cover that amount. I will do at 217 to 1$ |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Nobody: 5:04pm On Sep 16, 2015 |
softtouch2: are you sure gtb won't charge you at the end of the month for international transaction fee ? 1 Like |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by bukahands(m): 7:40pm On Sep 16, 2015 |
tumababa: They dont |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Bookiemart01(f): 7:54pm On Sep 16, 2015 |
Is there anyone here that can explain to me how I can fund my dollar account or help me fund it? |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by anayoe(m): 8:36pm On Sep 16, 2015 |
Bookiemart01: Domiciliary account I guess? If you need inflow then I can transfer to you at the rate of 260 per $1 |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Beryl15: 8:48pm On Sep 16, 2015 |
mavinc4u:Yep, I used the ATM on sat with standbic card and got the following reply. "Action selected not available at this time please retry" Na so my $200 take disappear o and the bank is telling me it would take 45 days to get it back |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by softtouch2(m): 9:02pm On Sep 16, 2015 |
tumababa: I haven't seen such kind of fee before... this is just POS purchase |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Nobody: 10:00pm On Sep 16, 2015 |
softtouch2: Ok |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by AmenJoan(f): 4:00am On Sep 17, 2015 |
Adebayolove: Please is it proper for GTB to use different rates when you're making payments and when you're receiving payments? For example, I did a transaction on aliexpress that failed to go through. The seller refunded the money. GTB used #220 as exchange rates when I was paying, then they used 199 to refund. Is this the proper thing? Cos I want to take it up with them. Valuable inputs are welcome |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Nobody: 5:48am On Sep 17, 2015 |
AmenJoan: its not proper please do take it up and you will get your full refund am speaking from experience. |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by tonjeola(m): 6:03am On Sep 17, 2015 |
mavinc4u:pls what did u noticed, share with me, I noticed change on their website after the upgrade. thank |
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by sucaba: 8:32am On Sep 17, 2015 |
Here's what my research has shown. A bit of background to this first. Debit and credit cards can be used wherever you see the Mastercard or Visa symbol, depending on what your card is branded. But, when you use it overseas, your card issuer has to translate your purchase into Naira– the base currency of your card. There are two factors that have an effect: 1. The card issuer's exchange rate. If you look at any credit card, it'll have a MasterCard or Visa logo. This is the card issuer, and both set their own exchange rates, which is the rate your bank gets when you use a card overseas. 2. The non-Naira transaction fee. This is set by your card provider - i.e. your bank e.g. GTB or Stanbic So, when you spend overseas, your bank or credit card provider first uses the wholesale rate set by MasterCard or Visa on the day you make the purchase to make the exchange. Then it adds its commission, typically between 2.5% and 3% for most banks in Europe and North America, but for Nigerian banks they are charging way more than that, even up to 15%. You will also see other fees for cash withdrawals which are fixed at a maximum of N420 by CBN but some banks like Access charge N240. If you look at the rates charged by Master card and visa to the banks, it comes to N199+, but less than N2000 right now, but in turn the banks charge us N220 or more, representing 10% or more. That's where the problem lies. The banks are making unwholesome profits as foreign exchange fees. That's why you typically see when you get a refund, it's usually at the rate they were charged by visa or MasterCard and unless you complain, they chop the foreign exchange fees. Excuse my pun, but the banks are laughing to the bank! 5 Likes 2 Shares |
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