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Common Reasons You Are Been Charged For Using Bank.
By on September 19th, 2021. CN Research

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Have you been in a thoughts and seek to know the reason why bank charges you for keeping your money with them, if yes don’t worry you have all answers you have been looking for here.

Today about banking, we could explain in accordance the reasons why banks always charges you for saving money with them and same time the interest you get in return.

You may be complaining before concerning this, but I believe so much that this explanations will put a whole lot of full stop to what ever thoughts you have been having and as well make you understand what are the charges for.

Bank charges are not regular, but a continue process which comes one’s in a while, most time here in Nigeria it it comes every end of the month and it used for maintenance and others banks activities carried out by the account holders.

The charges are to keep safe your account where your money is been stored in,how those equipment used in preserving your money deserve more of maintenance and in other to keep it safe, bank needs a little token from your savings to keep others more secure.

I understand this part that, most people don’t know the exact reasons why bank are giving them this charges and some have even seek to know why but all the same that’s why we have this very lesson to help you understand the fact and true reasons for all the charges.

It’s may comes at first in a time you don’t expect it, yes it do happen but one thing you should know is that you get charge for saving with bank and you also get credit for saving with bank.

The conditions falls in favour of both the customers and the bank. Before we talk about the charges, let me quickly explain to your understanding why you are also been credited during the month end and the amounts you sometimes get in return of that.


Bank credit each and every if there customers for saving with them, because bank uses the money you save with them for a business and at times borrow it out to some business company or people and the money is been returned, you as the owner of them money benefits from some of the interest out of what the bank owns.

It’s hard to say exact amount you will be getting in return of your money that is been lent out by the banks, but at times you may be getting something like 500 naira, depending how much and how long that money had been on your account without withdrawer.

An account that has no money saved inside or an account where the withdrawal is very constant won’t benefits from this bank credit rather you will be having charges for using the bank ATM withdrawal at all time.Types, Why & Reasons You Are Been Charge For Using Bank.

Driving on our topic today, I need to explain to your very understanding why banks charges you for using their services and still credit you at some point for saving with them.

The reasons for the charges depends on how many times you have withdraw for that month, and in other way of it, you are been charge for keeping your money in the bank because it a secured and recommend business opened by another individual or company to secure your values.

Common Reasons You Are Been Charged For Using Bank.

1. Withdrawal Limit:-

Every months, bank gives you the opportunity to withdraw from others Banks at least thrice before your charges start counting, if you exhaust this limit, bank will then start charging you from using others bank for withdrawal except your own bank which you are using that will be totally free of charge for you.

This is one charges that people don’t understand and how it comes, that’s why some will be complaining of duplicate or continue charges when ever they withdraw from others Banks not knowing they have exhausted their three chances.

2. Monthly ATM Card Charges:-

On this part, it regularly to every card users to get charged by the bank, why because you are using their property for your own benefits and for them to continue serving you better they needs some certain amount of money from you, that’s why you are been charged monthly with the sum of 80 naira according to your bank rules and regulations and how it been run.

The card charges is just like every other charges once in a month, it called “Atm Card Maintenance Fees (ACMF)”. It applies to everyone including me myself, so if you are using bank debit card, you should know exactly what am saying.

3. Stamp Duty Charges:-

This type of charge are directly imposed by the government in other to allow any account user pay their tax through monthly charges without going through any stress it doing that.

It a most paid tax that no individual can by pass it, the only way you can escape it for a month, maybe if you don’t have any income or money saved in you account for that month, bank will then understand but the charges will take place when next you have money in your account…

According to some genuine on-line sources, this stamp Duty Charges are been fixed on the rate of 0.75% on the authorised share capital at incorporation.

This means you won’t pay higher or lower than the fixed price here, and like i side before it a most pay charges from the government to cover up your tax which will be used in development of some important facilities in th country.

Why & Reasons You Are Been Charge For Using Bank, I believe very much that from now on, without bank giving you the details of your charges, reading this article will help you understand and you can as well explain to others when the lay a similar complains.

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Amaechi Wisdom

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