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Nairaland Forum / Nairaland / General / Business / CBN New Policy On Seized ATM Cards (47840 Views)
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Re: CBN New Policy On Seized ATM Cards by DedeNkem: 11:27pm On Aug 18, 2016 |
Creating more senseless rules to make life more difficult for the masses!! The bank supposed to release the card to you after you identify yourself. As simple as that! Why force people to get a new card because of an atm issue, when the card is legit and still valid? 1 Like |
Re: CBN New Policy On Seized ATM Cards by Josmila(m): 12:02am On Aug 19, 2016 |
Kayendy: I . G . N . O . R . A . M . U . S |
Re: CBN New Policy On Seized ATM Cards by omokab: 12:06am On Aug 19, 2016 |
dejavubobo1:please there is nothing like evidence of ownership if your ATM card is seized by another bank. It has happened to me last year when I was travelling for promotion exam. I used gtb card on union ATM machine, the funniest thing there is that I have not even type anything on the machine in order to verify the authenticity of my password. The machine just seized my card so I rushed in to union banking room to lodge the complain but I was told that I should go to my bank. On getting there they said I need to apply for new one because that one will be clone. Very bad policy indeed. Someone who just collected a new card and machine seized it, meaning he have to pay for another new one is totally a bad policy. 1 Like |
Re: CBN New Policy On Seized ATM Cards by Nobody: 12:35am On Aug 19, 2016 |
Guy, they deduct 65 naira if you have used another bank's atm more than 3 times in a month. Meaning at the fourth withdrawal on other banks' atm within a month, then 65 naira would be deducted. It has been like this before the new government o. israelboy1: |
Re: CBN New Policy On Seized ATM Cards by totorimi: 2:05am On Aug 19, 2016 |
Its an old policy designed to safeguard card owners if their cards are stolen by the way OP next time never display your full card number and expiry date like this. A fraudster could use it to wipe out your account through a 'Card-Not-Present' (CNP) transaction. Just a word of advice though. |
Re: CBN New Policy On Seized ATM Cards by XaviDayo(m): 4:36am On Aug 19, 2016 |
dejavubobo1: Bro, the new policy says destroy ATMS from other banks but the bank can release it's own ATMs used on its own machine. Saw a guy's own get destroyed some minutes after Stanbic ATM swallowed it. |
Re: CBN New Policy On Seized ATM Cards by koredex4love(m): 4:37am On Aug 19, 2016 |
I decided to quote you in order to back your allegation on fcmb at 7/8. It's a pity you experienced this issue 2years ago,but if I tell you that same machine of 2yrs ago is still there with the same fault ,will you not say am a lier? It's a pity we have a bad policy monitoring teams in Nigeria. If I can confidently prove your allegation, the machine you are talking about is the one at the right hand side if you face the machine right? On average, this machine seizes nothing less than 10 ATM cards of user,even if you go into the bank, they are aware and the next thing they will ask you is the first one? So my question is how many fall victim of this on daily basis,paying for inefficiency of the banks ![]() I hate to talk about Nigeria banks because they are corporate thieves,imagine they purchase SMS at rate less than #1.00 but they charge us #10.00 for sending SMS. Isn't this outrageous? Dexema: |
Re: CBN New Policy On Seized ATM Cards by MznAirA(f): 5:35am On Aug 19, 2016 |
Same issue happened to me. It was indeed very disheartening. I was told to go and request for a new atm in my bank. To think that I just got the card which would expire 2019 is the most annoying |
Re: CBN New Policy On Seized ATM Cards by Fourwinds: 5:40am On Aug 19, 2016 |
nellybadas:no mind my people here |
Re: CBN New Policy On Seized ATM Cards by dejavubobo1(m): 6:16am On Aug 19, 2016 |
larrypourl:that's much, which bank charges so high fr ATM cards |
Re: CBN New Policy On Seized ATM Cards by dejavubobo1(m): 6:19am On Aug 19, 2016 |
Kay17: is it not a means of exchanging for value (POS), & also an instrument for ur withdrawal to be honored on request... it works as a/an (electronic) cheque & remember a cheque is a bill of exchange. |
Re: CBN New Policy On Seized ATM Cards by dejavubobo1(m): 6:21am On Aug 19, 2016 |
XaviDayo:Have been to sterling bank & my ATM was returned upon my tendering of my ID |
Re: CBN New Policy On Seized ATM Cards by cosycee(m): 6:24am On Aug 19, 2016 |
Re: CBN New Policy On Seized ATM Cards by Dexema(m): 6:46am On Aug 19, 2016 |
koredex4love:Hello sir, let me further confirm your allegations by telling you that that machine was not changed since then, rather it was spray painted to look so. On this particular day when my card was seized the atm took my card and just froze at about 10pm, I had to leave the place for my safety when I waited for more than 30 minutes and nothing happened. The reason for all these nonsense from our banks is because the CBN is the father of these corporate thieves, if there's anybody on this forum who can give me a good answer please do, "why will cbn make heads of banks cbn governors? Does it make sense at all? Why will you put a major player in an industry in charge of its regulation? I must say I'm gutted with this whole issue. Or do you think emefiele is a fool and won't make policies that will favour his bank? I'm tired of typing because if I continue people go think say na another thread I wan open. |
Re: CBN New Policy On Seized ATM Cards by glossy6(f): 7:07am On Aug 19, 2016 |
israelboy1: It happened to me some years ago. My ATM card was renewed but routed to my maiden branch in Oregun. I applied for another one as the cost of going to Oregun from Ojo is almost the same as the cost of issuing another one. I was thus charged twice. I tried using it on the banks ATM on a public holiday and d machine seized it. I came back for the card a day or two later and was told it has been destroyed and I had to get another one at a cost too. |
Re: CBN New Policy On Seized ATM Cards by Kay17: 7:12am On Aug 19, 2016 |
dejavubobo1: No it's not. The requirements of a bill of exchange are very precise and provided for in the relevant statute. but good reasoning |
Re: CBN New Policy On Seized ATM Cards by hariorh: 7:53am On Aug 19, 2016 |
See why I prefer to use my bank ATM than other banks'? Fortunately, since my 10 years of using ATMs, this unlucky incident has never happened to me before. ![]() |
Re: CBN New Policy On Seized ATM Cards by dearie(m): 8:22am On Aug 19, 2016 |
Adesiji77: God bless you sir! The policy is actually aimed at protecting everyone though with its attendant inconvenience on the card holder. CBN just took the route out to stem the barrage of complaints on card transactions denial and all. 2 Likes |
Re: CBN New Policy On Seized ATM Cards by one4GOD(f): 8:37am On Aug 19, 2016 |
But this has been on for more than a year now, its not a new policy. MaBuk: |
Re: CBN New Policy On Seized ATM Cards by daretodo(m): 8:47am On Aug 19, 2016 |
This policy has been in place over a year now; the policy statement break-down analysis goes thus: E.g. If a Wema Bank customer uses his or her ATM on Skye Bank terminal and the card is trapped in the machine, the card will be pierced and be send back to customer bank which implies that Customer will request for a new ATM card. This is in place to avert the risk which might arise from compromising the card details especially the PAN number which can be used for online transaction. |
Re: CBN New Policy On Seized ATM Cards by marshmonii: 9:26am On Aug 19, 2016 |
This is pure fraud of the highest order, once the ATM is seized, that means the moment u apply for another ATM card the charge you money cos i dont think is free, my question is why cant the seized ATM card be returned back to you |
Re: CBN New Policy On Seized ATM Cards by ugomakas(f): 10:34am On Aug 19, 2016 |
inconvenience |
Re: CBN New Policy On Seized ATM Cards by taurustm(m): 10:47am On Aug 19, 2016 |
Really, that's way too bad. They aware of the economic situation in Nigeria. |
Re: CBN New Policy On Seized ATM Cards by larrypourl(m): 10:52am On Aug 19, 2016 |
dejavubobo1:that's Firstbank oo |
Re: CBN New Policy On Seized ATM Cards by kilonso001(m): 11:13am On Aug 19, 2016 |
that directive has been passed for a long time, am surprised you didnt know about it MaBuk: |
Re: CBN New Policy On Seized ATM Cards by afolakemi: 11:53am On Aug 19, 2016 |
oyibotat: Pele. Just contact your bank. I had similar issues with Ecobank just last week. I sent a mail to ENGcontactcentre@ecobank.com and within 5 working days I got my money back. But that your card will be destroyed o. Contact your bank so they can deactivate it immediately. |
Re: CBN New Policy On Seized ATM Cards by saintkeppy(m): 12:12pm On Aug 19, 2016 |
Old policy my broda! I think it was enforced early 2014. This sh!T happened to me late 2014 when i used my Access Bank ATM Card correctly which i have been using as usual at Skye Bank ATM machine outlet @Rumudara, PH, One of the machine trapped my card. The Skye Bankers knew the machine is some how faulty & network also fluctuatin'. I quickly rushed to the banking hall to notify them with my valid ID Card as evidence, that i'm the true owner, but the guy in-charge of ATM Services told me i should go to my bank, apply &get a new Card that my trapped card will perforated/destroy in-line with the new CBN Policy about ATM cards. I left the hall frustrated after much arguments with the staffs, Funny enough, as i came out of the hall some ATM maintenance Engineers were already on ground to fix this same Machine that trapped my card. One of the engineers told me same policy, i responded, that it wasn't my fault but the machine's, which they all acknowlege. I left, very painful, no apologies of any kind. The following day i went to Access Bank Rumuokoro branch with my ID Card to lay my complains but i was told same thing. The lady in-charge said i should 4get the card &get a new one. Painful part is that not quite long i renewed the card then, used for some months which was due to expire by 2017. I went home, i had to give myself a break for using ATM, I resort to using withdrawal slip till when i'm ready to renew my ATM Card. So sad, that some policies are not well delibrated b4 enforcin' I suggest, there should be on-the-spot identification measures using internet at the banking hall to verify true owners of trapped ATM Cards using their bank Account Number to view their passport on the data base of their respective banks by Using the following as means of identification to cross-check thoroughly 1. Int'l passport 2. Valid ID Cards. 3. Phone Numbers. This should be done with a short period of time. 2ndly, the cards should be returned to the nearest branches of the customers whose cards were trapped under a confidential seal. Even if N500 is deducted as a fee for the transfer of cards, i think that will be reasonable. My suggestion though, &i stand to be corrected. |
Re: CBN New Policy On Seized ATM Cards by lexyclasy: 2:01pm On Aug 19, 2016 |
MaBuk:That policy has been going on for about 2months now.....that's why you always see Ist bank withdrawal line long to about 100m still curve along the road line....This government is really punishing us abeg |
Re: CBN New Policy On Seized ATM Cards by ajistai2003(m): 2:15pm On Aug 19, 2016 |
This policy's been operating for more than a year now. |
Re: CBN New Policy On Seized ATM Cards by netmillionaires(m): 3:38pm On Aug 19, 2016 |
What will now happen to Nigerians using a foreign country card. e.g using a neteller or Payoneer card. This is unfair. |
Re: CBN New Policy On Seized ATM Cards by olagold79: 4:50pm On Aug 19, 2016 |
Lolz....this has been around at least in 2014 cos I was still in Nigeria.Plus it's like that even in Europe, even if you just check balance for another Atm dem go charger you.. Devil come fire U, U still come print receipt, additional charges. |
Re: CBN New Policy On Seized ATM Cards by sademola: 4:56pm On Aug 19, 2016 |
this isn't a new policy at all! |
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