Business

Banks Customers Lamenting Over Fraudulent Deductions

Published

1 year ago

May 26, 2025

743 Views

Customers of commercial banks are complaining bitterly about several unautorised withdrawals from their savings accounts.

A woman who gave her name as Ruth, told our reporter that she has resolved henceforth, to be keeping her money at home rather than in the bank.

She referenced her savings account at one of the UBA branches in Lagos, where she deposits profit from her crayfish and zobo business.” I use parts of the money to support the school fees for my children; I kept receiving withdrawal alerts as early as 5.am .

Sometimes, they withdrew N2000, N2,500 and even N4,000, for POS purchases, I didn’t make.

Other times, the alerts are not sent,” she lamented.” It’s banks that are doing it, a POS operator told her, adding, “go to your bank and complain about it.”

At the customers desk, she was asked , after scrolling through her account history, “whom did you shared your PIN details with?”None, Madam ,” she replied.

She was told to change her PIN number …Likewise , Lucy , a customer of Zenith Bank, couldn’t take it anymore.

Like a matador bull, she went to the bank and harassed the customers desk.

” You people are thieves…I didn’t buy anything online, you must return my money, she fumed”. “Calm , down; Madam…”, a security staff interjected.

Madam, I’m here for the same purpose. I had 18k+ in my savings account. I bought an item worth N2,800 for family dinner. I was left with a balance of 16k plus.

That was Friday May 24. In the morning, I went to the same POS point to withdraw 8k to attend a friend’s wedding.

The machine couldn’t disbursed but showed ” insufficient balance. They withdrew 12k and left 4k balance. ..” Another victim explained, “Cyber thieves are very smart and have been changing their mode of operations.

There’s a chip they are using to defraud customers, either from inside the bank or it’s planted with the POS. So, you don’t really know who’re the thieves – the Banks or the fintech operators – Opay, moniepoint, and the rest.

“Even children’s savings account are not spared. I want to close my child’s account, for the same wrongful deductions.

It’s sad that this is happening despite the billions of Naira /$ banks have spent on upgrades.

“Is it for nothing that they have been declaring billions of profits?, ‘quipped another customer, adding ” It’s hightime the CBN beams search light on them.”

Related Topics:Featured Fraudulent Deductions

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15 hours ago

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