Business

Access,Diamond banks' transfer charges remain after merger

Access,Diamond banks' transfer charges remain after merger


Some customers of the recently merged lender- Diamond Bank Plc, have described as unlawful the charges levied on them (N52.50) for transfers to Access Bank accounts.

According to them, charges on transactions done between the accounts of the defunct Diamond Bank and Access Bank are indications of tardy integration or another form of extortion against customers, especially when no concrete explaination would be given.

An entrepreneur, Victor Ifeanyi, who has an account with the bank, told The Guardian that all his intra bank money transfers between the accounts of the two banks after their merger were charged a fee of N52.50.Narrating the ordeal, he said that when he visited one of bank’s branches located close to Last Bus Stop, Ago Palace Way, Okota, Lagos, to make a complaint, he was told by one of the bank’s staff that nothing could be done about the transfer charges, as the bank was yet to update their system.

“Since the merger, I have been making transfers from my account, which I have with the old Diamond Bank to my account in Access Bank without knowing the inexplicable deduction of N52.50 per transactions I was putting myself into.
“Normally, I use my Access Bank account to save. I only discovered on 27th April after I made a transfer from my Diamond Bank account to someone, who also uses Access Bank and discovered that I was charged N52.50 for the transaction.

“I went to the bank’s branch at Ago Palace way in Lagos to complain of the charges on my account only for one of the bank’s staff to tell me that nothing could be done about it until their system is upgraded. They are yet to refund me,” he said.

A twitter user with the name Lady Million and the twitter handle @Cheeomar_, who claimed she has an account with Access Bank, took to twitter, to state her displeasure about the bank’s charge on her Access Bank account after she made transfer to Diamond Bank account.Her words: “How am I being charged N52 for sending money from Access Bank to Diamond Bank? I thought we were one big family?”

But Access Bank replied her, saying, “Hi, please be informed that the charge is still prevalent, you would be advised once there is an update.” This raises question about the integration process and how long customers would wait

The Guardian contacted Eze Anyanwu, a member of the corporate communication department of the defunct Diamond Bank, to know the reason for the prevalent money transfer charges, but was directed to the Head, Corporate Communication, Access Bank, Abdul Imoyo, for clarifications.

The Guardian again, contacted Imoyo for clarifications, but was told by Imoyo that response about the issue would be given shortly, which he never did.Three days later, when he was contacted again, he neither picked up calls nor replied to text messages, while the affected customers said they are yet to get a clear understanding of the matter or refund.