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  • Business - Banking & Finance
  • Updated: Jun 27, 2020

Access Bank Under Fire For 'Illegally' Deducting Customers' Accounts Multiple Times

Access Bank Under Fire For 'Illegally' Deducting Customers'


Olalekan Fakoyejo

Fakoyejo Olalekan is a certified media practitione...

Access Bank is currently trending for all the wrong reasons. Access Bank's name hasn't been in good light for weeks among its customers who are furious at the lender for deducting money from their accounts multiple times today. This has made some of its customers to start transferring their money to other bank accounts, while some threaten to close their account, AllNews gathered.

The unjust debit began days after Access Bank sent mail to its customers informing them of its plan to debit them for Stamp Duty charges. AllNews had reported that Access Bank stated it will be charging its customers N50 stamp duty which has accumulated for three months.

Access Bank made this known in a mail sent to its customers, informing those without money in their account to fund it in order to enable the lender to debit them of the accumulated fee. Access Bank said the deduction of N50 for stamp duty is in line with the Central Bank of Nigeria's (CBN) directive that the charge should be done on all credit received into current and savings accounts.

It stated that the charge is in respect of deposits and electronic transfers into all naira-denominated accounts for transaction values of N10,000 and above. Access Bank stated that customers should fund the account in order to debit accumulated stamp duty fees on transactions made by the customers between February 1, 2020, and April 30, 2020. The bank said it discovered that the charges had not been made on the customer's account.

With the outcry against Access Bank today, it shows the bank has began charging the fee, but the charge is being done multiple times.

Customers Are Criticising The Bank For Debiting Their Account

According to one Lawal Arishekola, Access Bank deducted over N7000 for stamp duty and other series of charges and he will be closing his account for that, "ACCESS BANK CORPORATE FRAUD ALERT! @accessbank_help just deducted N7650 from my account all in the name of stamp duty. This is different from N2200, and N1500 they deducted earlier today. @cenbank @fccpcnigeria @Complaintsboxng @MaziIbe_ What's happening? This is evil!" Arishekola tweeted.

Arishekola added, "I'll stop too. You told me yesterday and I didn't know I was waiting to be served hot. I'm almost crying here."

Writer, @Brodah_Ayo stated that, "Access bank is a big scam/Fraud. How can you deduct N550 from my account just now for Stamp duty. If this is not fraud then I don’t know. Access Bank is a Scam."

Another customer of Access Bank who simply identified as @_youngboy, said the deduction of Access Bank is cyber fraud, "This is not a joke, man!! Cyber fraud for real!!"

Financial consultant, Modesta Ify wrote on Twitter, "I have been getting series of debit alert since today. I just moved my money. @myaccessbank you people are just not serious in this life. What type of fraud is this?"

Another Access Bank customer, @Cryptohustler1 tweeted, "This is serious! Something has to be done to stop this nonsense of @myaccessbank. That's one of the reasons I stopped banking with them for now . they are unarmed robbers."

While @DamilareELawal compared Access Bank to Hushpuppi (The Nigerian cyber criminal arrested in Dubai) for deducting his account, "Just today alone, for something that is meant to be N50, Access bank and Hushpuppi no Difference."



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