By GINIKA OKOYE

Some bank customers in the Federal Capital Territory (FCT) have frowned upon the continuous increase in banks’ services in spite of the challenging economic environment and their outcry.

The customers who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, described the recent Automated Teller Machine (ATM) card issuance fee increase as insensitive and frustrating.

They appealed to the Central Bank of Nigeria (CBN) to organise engagements with bank customers to enable them make bottom-top decisions.

NAN reports that the apex bank in a recent circular increased the fee for the issuance or replacement of debit and credit cards from N1,000 to N1,500.

Mr Boniface Onne, a bank customer, bemoaned the decision by the CBN saying the apex bank should consider regulations that would cut down numerous bank charges.

Onne said customers were already exhausted due to many transaction charges by banks hence the reason for their outcry.

“Honestly, bank charges are getting out of hand, the kind of deductions one gets from their banks over one transaction is exhausting.

“I read the CBN circular that says that transactions below N5,000 are free but we still get NIP transfer debits alert over N3,000 transactions.

“Also, banks are declaring profit every quarter with customers’ monies and the CBN is okay with that.

“Though I know that banks are out for business but that should not be at the detriment of their customers,” he said.

Chief Ifeanacho Ubaka, also a bank customer, urged the CBN to consider the plights of customers in decision making.

According to him, if the CBN can organise constant forums with banks’ customers through various associations to enable them understand the challenges of customers.

“Banks charge us for almost all their services, the CBN needs to engage customers to enable us rub minds with them and understand each other before they take some steps.

“Some customers are not even literate enough to read some of the transactions CBN said banks should charge and the ones not to charge.

“The thing is that for every transaction I make, I receive a debit alert, SMS debit, NIP, Stamp duties, PoS and many others that I cannot remember now.

“Adding another N500 on the ATM issuance fee is unfair,” he said.

Mrs Sarah Onifade, a bank customer, commended the CBN for scrapping maintenance fees.

Onifade added that the CBN should check the excesses of banks in line with their regulations.

“I was given an instant ATM through the machine at my bank and was charged N1,000 but subsequently, I noticed that the card does not work on ATM machines especially on my bank’s own only on PoS machines.

“I went and complained at my bank and they checked and said that nothing was wrong with the card but the issue persisted.

“To avoid further frustrations, I told them I wanted to change the card and obtain the one that takes days.

“The obliged me and still charged me an additional N1,000 without considering that the problem was from them and not me.

“Imagine now that the CBN has added N500 to the ATM fees and that kind of issue comes up,” she said.

Mr Victor Agabi, also a bank customer, said the current economic situation of the country did not warrant an increase in any form.

“I want to be very honest with you, I do not deposit my money in the bank most of the time.

“This is because I do not want incessant charges and debits from my money.

Miss Hafsat Aliyu, a student, appealed to the CBN to translate and transmit its circulars in local languages for better awareness creation and understanding among both literate and illiterate bank customers.

NAN reports that the apex bank said the fee, effective May 1, would apply to standard ATM cards issued by banks and other regulated institutions nationwide. (NAN)

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