Bank charges – Reducing Expenses with ……….


October 4, 2015 Facebook Twitter LinkedIn Google+ Benefits,Businesses,News,Nigeria,Prepaid Cards in Nigeria,Prepaid Debit Cards


Nigeria Bank Charges, Reducing Expenses, Bank charges, How to reduce bank charges

Reducing Expenses – Bank charges

It no news in recent times that banks charges are getting too much for consumers. We see many hidden charges come on our current account statement at the end of each months.




Nigeria Bank Charges, Reducing Expenses, Bank charges, How to reduce bank charges

Bank charges will continue to exist in Nigeria and the rest of the word. If banks don’t charge consumers, how do we expect them to make profits? If bank do not make profits, the shareholders will not be happy and many banks will seize to exist.

For banks to remain profitable, these charges have to be there and as long as these charges are there, consumers will remain unhappy. Although, one of the bank charges known as ‘Commissions on Turnover’ (CoT) will be eliminated in Nigeria by 2016 to zero but report reaching us has indicated that banks are coming up with other charges.

If these charges do not come up, few of the below will happen:

  1. Many bank will not be able to meet their operating cost anymore;
  2. Many bank staffs will loss there jobs (these have started happening);
  3. Reduction in consumers using banks.

Come 2016, many Nigerian Banks will be coming up with different Charges, Fees, Interest, Facility Fees, above limit fees, returned cheque fee, loan interest, bank draft fee, fee earned and handling fee and many more.

To avoid all the above bank Charges and bank Fees, you need to stay in control of your financials.

How to stay in control of your financials

By staying above your financials, you avoid all unnecessary charges and fees from the banks. One simple way of reducing expenses, bank charges and bank fees in Nigeria is to use a Prepaid Debit Card.

A good Prepaid card will eliminates all the charges and let you stay in control of your expenses. Companies can also use Prepaid Cards to reduce almost all the companies expenses.

It is with no surprise that Financial research companies in Nigeria have concluded that;

  1. Many individuals will save money by using prepaid cards;
  2. Businesses and organisations (both government and privates) in the country will be reducing expenses of out going and operational cost by employing the use of Prepaid Debit Cards.

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Why a Prepaid Card?

Prepaid Cards for Individuals in Nigeria:

  1. No Monthly Fee;
  2. No Overdraft;
  3. No ‘Commissions on Turnover’ CoT;
  4. Get Rewarded when you use your cards on selected merchants or stores;
  5. No annual maintenance fee;
  6. Free Card to Card transfer.

To get the best Prepaid Card  in Nigeria that will solve your needs, check out VISA Prepaid Debit Card.

Prepaid Cards for Companies and Businesses in Nigeria:

  1. No Monthly fee;
  2. No ‘Commissions on Turnover’ CoT
  3. Reducing expenses on Payroll (avoid the 100.00 fixed charge on each payment);
  4. Easy disbursement of fund;
  5. Monitor staff expenses;
  6. Reduction in fees incurs in all procurement operations

To find the best solution for reducing expenses for your business and/company, see Business Prepaid Cards solutions.




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