By GINIKA OKOYE

Bank customers have continued to complain over the many transaction charges by banks, saying it is discouraging them from depositing money in their bank accounts.

Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, described the situation as alarming and discouraging.

They appealed to the Central Bank of Nigeria (CBN) to investigate and address the issue, adding that it had negated the financial inclusion drive.

Mrs Helen Agodo, a customer with First HoldCo Plc, said that daily debits from her account were becoming unbearable.

Agodo appealed to the Bank Customers Association of Nigeria (BCAN) to engage the CBN and other relevant regulatory bodies with a view to ending the unauthorised deductions.

”In fact, I do not blame some people who decide not to put their money in a bank.

”There was a day I calculated the debit alert charges that I received from my bank, it was up to N800 just for a day.

”You will now imagine the total amount the bank will get if they do the same deduction from like 1,000 to 2,000 of their customers,” she said.

Miss Cheta Ugochukwu, a customer of Guaranty Trust Holding Company (GTCo) Plc, described the charges as unfair.

She listed some of the charges to include SMS alert charges, Value Added Tax (VAT), Stamp duties, Commission on NIP transfer, among others.

Ugochukwu said the development was not a good or sincere business model.

”Personally, I do all my transactions electronically and I thought that is the basis for the cashless policy of the CBN.

”My bank charged me about N996 for an SMS alert in one month, this to me is too much.

”I wanted to disable my bank SMS when the amount was increased and rely only on my app receipt but on a second thought, I decided to leave it but now, my mind is made up.

”I wonder how they calculate this because it is unfair with the current state of the economy,” she said.

Mr Usman Idris, a customer of

Fidelity Bank Plc, said that charges had discouraged him from depositing money in his account.

Idris explained that the decision followed his ugly experience when his business money was short by N1000 due to charges from the bank.

”I deposited money into my account but when I wanted to withdraw, I couldn’t withdraw it all because of bank charges.

”This occurrence really discouraged me because at some point, I was stranded,” he said.

Mr Andrew Adejoh, a customer of Zenith Bank Plc, said there was a need for the CBN to review and shelve some bank charges.

Adejoh said the review had become necessary to reduce the burden on customers.

”I think that the old days attitude of people keeping money in their hands. Edejor stated again.

”People now prefer to keep money in their safe at home rather than the banks because of charges.

”In fact, I have lost count of the charges that my bank collects,” he said.

Mr Tunde Bello, an Access Bank customer, called on CBN to heed to the complaints of customers by checking the excesses of banks.

NAN recalls that the CBN had announced the elimination of five major bank charges by January.

The charges include N50 electronic money transfer levy, stamp duties on salary and investment and internal transfer fees.

The aim according to CBN is to reduce financial burdens and increase financial inclusion. (NAN)

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