Since Friday night, there has been an uproar by Access Bank Bank customers on the microblogging website, Twitter about unexpected huge deductions from their accounts.
Following the relentless outcry that has been trending as #accessbankscam, the bank has announced that it will refund the deductions identified as accumulated stamp duties.
According to reports, Access Bank had sent emails to its customers on the 23rd of June that it would deduct the duties accumulated between February 1 and April 30, 2020.
The exercise was carried out on Saturday. It targeted all inflows into current and savings accounts done by electronic transfer and teller deposits for N10,000 and above.
The deductions are said to be statutory requirement by the Central Bank of Nigeria (CBN).
In response to the outcry, the bank, on Sunday, 28th June, rescinded its decision in letter monitored on Twitter. It took responsibility for not charging the stamp duties as at when due considering that it is a government policy under the “Finance Act, 2019 (Stamp Duty Act, Cap S8.”
The bank therefore announced that it will refund the deductions and pay the charges on its customers’s behalf. The financial body stated that it appreciates the challenging economic times the customers face currently and are therefore acting accordingly.
Excerpts of the Access Bank deductions letter:
“…we have heard our customers’ feedback that this charge is unwelcome, especially at this time against a challenging economic backdrop. We have considered your feedback and have decided to pay the Stamp Duty on our customers’ behalf for the affected period only. “
Some of the bank’s customers have hailed it for being responsive to customer yearings:
