Raydos:


Your papa and your whole family nah fool

techmo:




Why charge customers for a failed transaction when this can happen for various reasons which are not intentional



.

Yankee101:


It's the same thing. Authorizations called ACHs are an electronic permission to debit your account. A cheque is simply a physical instrument that serves the same function an ACH does electronically. Infact in less fraudulence prone systems you don't need the physical cheque anymore, just the details or snapshot.

alizma:

Do you understand the policy or you just type without clear understanding? The government is protecting your interest and you call that wickedness, what type of human being are you?
The new policy is targeted at people that issue cheques knowing fully well that they don't have money in their account or that they will not be able to fund the account before the maturity of the cheque.
In developed countries, cheque is as good as cash because you dare not issue cheques against unfunded account but here in Nigeria, people see cheque as a professional way of rubbing business partners. They collect goods and give you cheque knowing fully well there is no money in the account. Now the bank is taking measure to prevent such unscrupulous behavior and the next thing you say is that the country is wicked......

techmo:


In UAE, on my NBAD account never am I charged a penny for any transaction, and this is because all transactions are basically handled electronically, and my deposited fund is invested frequently giving them required profit to run the Banking Software Finacle needed for simple transaction

Why charge customers for a failed transaction when this can happen for various reasons which are not intentional



.

techmo:


In UAE, on my NBAD account never am I charged a penny for any transaction, and this is because all transactions are basically handled electronically, and my deposited fund is invested frequently giving them required profit to run the Banking Software Finacle needed for simple transaction

Why charge customers for a failed transaction when this can happen for various reasons which are not intentional



.

Karlovich:
, From all of us at vulturebbqgrills we thank you our darling daddy for the extreme wickedness you have bestowed on your adopted country. Everything has been turned upside down since you assumed the rigged position, the hardship is immense and affecting every single sector and they are emulating your wickedness and heartless character. Happy birthday to Goodluck Jonathan, may your days be long

PS712:

Sounds same but not the same as you put it. One of the pros of banking digitization was to address this issue and save bank time and that has been achieved already.
Will you say it is the same thing when your bank debits for instance sms charges, or interest on facility from your account and you are yet to get debit alert, proceed to make transaction only to realise your balance wasn't what you were thinking?

alizma:

Do you understand the policy or you just type without clear understanding? The government is protecting your interest and you call that wickedness, what type of human being are you?
The new policy is targeted at people that issue cheques knowing fully well that they don't have money in their account or that they will not be able to fund the account before the maturity of the cheque.
In developed countries, cheque is as good as cash because you dare not issue cheques against unfunded account but here in Nigeria, people see cheque as a professional way of rubbing business partners. They collect goods and give you cheque knowing fully well there is no money in the account. Now the bank is taking measure to prevent such unscrupulous behavior and the next thing you say is that the country is wicked......

frankson1:

[/b]




The charges were imposed following a CBN directive earlier this year that directed banks to penalise customers who initiate direct debit transactions on their account but lack funds to complete the transaction.

If there’s no money at the time of the failed transaction, the charge will be withdrawn from the account whenever it is funded, IBTC said.


I believe it's short enough for you to read.

GIANTPLUSHUB:
Lol. Wahala for "Urgent 2k transfer" Trying to withdraw the 2k and the 2k no enter. Na another penalty oooo! God no go shame us ooooooo!

Globad:


How is not having enough balance in your account to support your own instruction not intentional?

Do you know the implications of this for the provider of the service you have enjoyed?

Why can't you cancel the instruction if you don't have enough money?

oluplus:

The policy applies only to unfunded accounts. It will not apply when transactions fail due to other reason like network problem.

Summary is that dont initiate transaction or issue cheques, when accounts are not funded.

This can be avoided

tofolo:


They dont know that EFCC can prosecute you for a dud check sef..

alizma:

Do you understand the policy or you just type without clear understanding? The government is protecting your interest and you call that wickedness, what type of human being are you?
The new policy is targeted at people that issue cheques knowing fully well that they don't have money in their account or that they will not be able to fund the account before the maturity of the cheque.
In developed countries, cheque is as good as cash because you dare not issue cheques against unfunded account but here in Nigeria, people see cheque as a professional way of rubbing business partners. They collect goods and give you cheque knowing fully well there is no money in the account. Now the bank is taking measure to prevent such unscrupulous behavior and the next thing you say is that the country is wicked......

Globad:


We have a problem of educated illiterates in Nigeria

Globad:


How is the country wicked for this?

Shouldn't a dud cheque or a failed transaction come with charges or a penalty? What of the charges incurred by those two processed it? Who will pay?

If you don't have enough balance in your account, don't issue a standing order or direct debit, or cancel the one you have issued.

It is irresponsible to issue or sustain a direct debit on unfunded accounts. It's also criminal if it's for a service that you have already enjoyed.

On this one, I don't see why Nigeria is a wicked country as you have said unless you're willing to educate me on it.

Alezy:
you are specifying cheques out here. Do you understand the word direct debit? Unless the OP is misinformed, that includes failed mobile transactions. Check and correct me if wrong.

080bjaked:


Issuing dud cheques has always been a criminal offence even in Nigeria so that's not the reason. You probably just dont have enough knowledge to understand this policy or you are just another political bigot.

Merimental:


dude lacks wat it takes to handle dat financial position.

coolsegun2002:


u don’t know Nigerians banks......
They will put charges for your transaction alerts, card maintenance fee etc under Direct debits..


.that means banks will charge your more if u don’t have money when they are ready to debit....