September 22, 2020
News

Access Bank Customers Lament Heavily Over Excessive & Multiple Duty Stamp Charges

Access Bank Customers Lament Heavily Over Excessive & Multiple Duty Stamp Charges

Access Bank has come under heavy fire following the outburst of several of their customers on social media, over excessive duty stamp charges. The bank has been trending on microblogging app, Twitter all afternoon today 27th of June after several of their customers got debited more than once for duty stamp charges.

It can be recalled that the bank claimed to have forgotten to remove the duty stamp charge for a three month period from February till April, and have concluded to remove the accumulated charges right after the oversight.

Below is a report from a week ago on their oversight on the charges;

Access Bank customers will now have to pay an accumulated charge over the 3-month period.

Access Bank Plc has admitted in an email to customers that it forgot to implement a mandated stamp duty charge on applicable transactions between February 1, and April 30, 2020.

A N50 stamp duty is charged on all deposits, and electronic transfers of naira-denominated current and savings accounts for transactions of 10,000 and above.

The bank said it failed to enforce the charge for three months, as required.

While apologising to its customers for the oversight, Access said it will now be required to deduct the accumulated charges for the said period from their accounts.

“We request that you kindly fund your account to accommodate this charge,” the bank urged customers.

Several customers have taken to twitter to wail and gnash their teeth as the several debit from the bank hit their accounts.

The question is, should the bank be responsible for their own mistakes or should the customers have to bear the pain from the mistake done by the bank?

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