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Banking

This category contains 5 posts

First City Monument Bank Plc (FCMB) Introduces Instant Funds Transfer Service

First City Monument Bank introduces Instant Funds Transfer via its Electronic Channels About these ads

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First Bank Nigeria introduces cash deposit ATM

An Automated Teller Machine is an electronic banking outlet which allows customers of various banking institutions complete basic transactions without the aid of a bank representative, teller or without being physically present in the bank. There are two primary types of ATM’s. The basic one allows the customer to withdraw cash, receive a report of … Continue reading

Are Foreign Merchants still rejecting VISA / MASTERCARD debit/credit cards from Nigeria?

Are you having issues with online / ATM usage of your Nigerian issued Visa Card or MasterCard? Let us have your say; stating the problem(s) you encounter, if possible, also kindly state the name of the receiving agent or website where you experienced the issues. Also, do not forget to state which Nigerian Bank issued … Continue reading

What does your bank charge for ATM withdrawals using your Dollar VISA Card

I had to bring up this topic with regards to the charges I get to pay whenever I make an ATM withdrawal using my dollar denominated Visa Card in Nigeria. I use Intercontinental Bank’s dollar denominated VISA Debit Card and whenever I use the automated teller machine (ATM), I get automatically debited to the tune … Continue reading

How to calculate the Check Digit of your Nigerian Uniform Bank Account Code (NUBAN)

CHECK DIGIT ALGORITHM The approved NUBAN format ABC-DEFGHIJKL-M where ABC is the 3-digit bank code assigned by the CBN DEFGHIJKL is the NUBAN Account serial number M is the NUBAN Check Digit, required for account number validation We hereby recommend the following as the Check Digit Algorithm Step 1. Calculate A*3+B*7+C*3+D*3+E*7+F*3+G*3+H*7+I*3+J*3+K*7+L*3 Step 2. Calculate Modulo … Continue reading

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