Minimum Account Balance: UBA To Migrate Customers To Other Platforms

UBA is already dead and just awaiting burial.It`s only a matter of time for the whole world to see clearly what uba has been hiding from the masses.How can any sane bank increase minimum balance in a fourth world country like ours,at this critical time when the whole world is going through economic down turn?UBA can not withstand the hardship facing it this time,so,they have to tie the depositors` monies down to meet up with the cbn`s requirements and unfortunately,cbn is busy chasing shadows instead of investigating uba to ascertain their level of liquidity.Nigerians are better informed now than ever and `re wiser.So,guys let`s make hay while the sun shines.

I received the message informing me about this today. I never liked the bank for a thing, but I needed to have an account with them to be able to receive some money from a company.

I practise with 6 to 10 slips every time I want to make a withdrawal due to complaints of irregular signature despite having my picture on their system; something that has never happened since I've been with GTB.

It's only a matter of time before I get going.

I received the message informing me about this today. I never liked the bank for a thing, but I needed to have an account with them to be able to receive some money from a company.

I could remember the first withdrawal I made with them some months back. Before I could withdraw, I was made to sign over and over again to get close to my submitted signature despite having my picture right there on their system; that never happened since 3-4 years I've been using GTB. I practise with 6 to 10 slips every time since then whenever I want to make a withdrawal; I've been there about two times since.

It's only a matter of time before I get going.

look my fellow Nigerians. if the CBN does not stop this then it has a hand on these, everybody cannot be fooled all the time. look if u have an account in UBA then close it period.if all bank in Nigeria continue with the nonesense idea then the majority shall close thier accounts from the banks and leave it for the thieves who steals and the too much money makes them think Odd.

Bokoharram is just one of many greaved people, a time is Near when the poor in nigeria shall rise, and even the power houses shall not be able to calm them down

Have we ever ask ourselves, what an average market woman will do. UBA Please come out and tell us you have a liquidation problem. And now you are trying to tell us you will bring out a policy that will accommodate those that can not have such minimum balance account. That is foolishness.
Useless Banks For Arm robbers.

a big surprise

Above 50% of UBA Staff is on Contract. These People are being paid between =N=30,000 and =50,000.00. I wonder how these group of Staff would be able to survive if =N=25,000.00 is illegally retained by UBA in their various Accounts.

I also remember that when Intercontinental Bank was going through liquidity and Solvency problems after Lamido stopped the Expanded Discount Window (EDW), this was before the CBN hammer came down on them, the Management of the Bank attempted to rasie minimum deposits to =N=10,000.00. Public outcry made the Bank to have a second thought.

UBA, in a daring move, has increased its minimum balance to a whooping =N=25,000.00 in a Country where minimum wage is =N=7,500.00.

All this ill advised policy points to is that UBA is illiquid and insolvent.

I was telling some of my Colleagues few weeks ago that apart from GTBank, which I consider the best Bank in Nigeria, all other Banks, including those that where given clean bill of health by CBN, are on shaky grounds. This new UBA Policy has proved me right.

I hope UBA would be upfront with Nigerians by letting us know the condition of the Bank instead of resorting to arbitrary "kidnapping" of Nigerians hard earned money.

I used this Useless Bank of Africa while in school and i cannot remember any day i was satisfied with their service. my account with them is still lying dormant, i believe, for lack of time to go close it up. Their methods and processes are old and outdated and they bill you for what other banks would not. They were even charging CTO on my savings account at some point. I'm guessing they are afflicted with old people's mentality. most of their staff are old including their customer service personnel. i dont advise anyone to open an account there.

Fellow countrymen and women, let us all be wise now. Just check the share price of UBA and you would know that the bank is in serious trouble. How can GTB share price be N15.13, Zenith N14.60 and UBA is N5.50 and it keeps crashing everyday? Does that not tell us something? There is something they are not telling us and this is why even the owners of the bank are heavily divesting! Didn't you read of their Transcorp deal about 2 months ago? If you are wise, close your account and move to another bank, after all we have several other good choices. This is priviledged information. A word is enough for the wise!

from what i gathered from a staff of the bank, it is an idea to reduce the bulk load of customers who constitute 70percent of their operating cost but contribute -20 to their prifit pool. He said the bank was spending more to service customers that does not give them profit. Then i asked him why they included current accounts since they are being charged COT at the end of the month and another N100 maintenance charge. He could not answer but just said management decision.

UBA United Bankole Alliance, the bank should know that NLC is still fighting for 18,000 minimum wage how on earth do you expect average Nigerian that live below $1 per day to maintain 25,000 minimum balance. please rethink before you loose all your able customers, the average people and the common men not people like Bakobillion ,

It is apparent that the bank is out to frustrate the ordinary Nigerian who lives below 18K per month. Hw do u expect a family man who earns less than 20K monthly, a student, a corps member or the average trader and business man to have an account in such a bank? Truly, we can see that they are having problems and I recommend that we all go and withdraw our monies before they fold up with it and start telling us stories.

I can see why some people call this bank a Useless Bank of Africa (UBA). I own one of these Diaspora accounts, my password expired in October 2010. It took UBA up till June 2011 to simply re-set a password. They assign you a so called Customer Relationship Manager, I have called her listed phone number several time, phone was ringing but no one was picking up. They will send you an email, you send a reply to the same email, it was bounced back. Managed to get a Customer Service person on phone and to be told that we do not receive email from yahoo. Yes, like the 419ers cannot use gmail, hotmail and other email services. UBA, email is not the problem. Problem lies with the person responding to the email. It is like saying that I will not drive a car because I may die in a motor accident. Everyone knows that 90% of bank thefts has an insider connection. Wake up UBA before it is too late.

Nothing gud will come out of them even though the increase this more because i am sure their bank now will only see customers on cue for withdrawal not even depositing.no wonder the withdrawals cue at bank today was so much lol UBA una dey fail badlyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy This is end time signs plz we all have to repent and give our lives to God.

These U.B.A move is a definite indication that the bank is desperately in need of money and this means that they are having problems. What everyone of us should do to avoid being caught in the rush is to go there and close his account immeadiately.

Good move Chukwudalu,
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Goodnews everyone. I called my boss and he has agreed to close all our U.B.A accounts this week and direct all our customers and suppliers to do the same. Already, I hav convinced all our staff 2 close their accounts with the criminal bank. Word has it that they are broke and are desperately looking for money. Let us all go and close our accounts before these sinking bank sinks with our moneys.

I closed my U.B.A account today and as the Director of Finance of my company, I have given a directive that all the company staff who use U.B.A should provide alternative Bank Account Nos. for this month's salary and subsequent ones becos henceforth we shall no longer use the Useless Bank of Africa. I also would like to call on all Nigerians who hav an account in this useless bank to do the same. Let us show these bastards who the real Kings are. Please all trade unions should start mobilizing their members to do the same. All Finance heads and every well meaning Nigerians lets close our accounts with them. We the customers are the Kings let us unilaterally come together to exercise our Kingship. Close ur account with these crooked bank now!!!

If and only if that the Nigerian consumers know their right and can see and understand when somebody is shitting on their face, this UBA will be so thin that customers will be running away from it, not to it. This is purely opportunistic move due to lack of a competitive banking environment in the country and /or, a bank that is distressed.

In business and in REAL world, you do not get far by kicking at the very people that will put you on top, i.e. CUSTOMERS. Thank God that the “smart guys” at UBA aren’t in charge of the entire economy.

I believe that this Bank is cash strapped, 25 thousand is meagre any way but it is not right, there is more to it. They have lost a customer. Imagine most students and low salary earners for now leaving half of their funds in the bank without being able to access it it. Guys, Our client paid 200 million into our UBA account on Friday. I will be leaving only 1000 in the account. Thats good for them and no ammount of persuasion will make me change my mind.

It has already started:

http://www.nigerianpro.com/content/stanbic-ibtc-wins-approval-islamic-ba...

I have had of bringing Islam Bank in nigeria, please sunusi lamido sunusi, urgency needed to avoid BANK OLE BANK and PDP EVILDOERS.

This is just the beginning of the worst. Let us go for better but for religious, ethnocentric,bigotry and regional reasons as well as some selfish reasons, we chosed the wrong......... We are yet to see economic policies that will spell hardship for me and you.

I have had of bringing islamic Bank in nigeria, please sunusi lamido sunusi urgency needed, to avoid BANK OLE BANK and pdp evildoers

How many students and corpers can afford N25,000.00 minimum balance.

I bow to this 9ja! I know we know how to
copy wrong thing. Trust me once UBA fly
this all the other banks are going to follow
same route. Let's all just brace up for
a rough ride instead of consoling
ourselves that we will be running to other
banks. There will be no where to run to.
Fuck Bank Ole, he caused all these!

I know we should be upset, but this only a sign of how little cash available in our economy, we should also be happy that Nigerian banks have the fortitude to not offer overdrafts and other bank-money making schemes that work on the premise of a loan, to the average Nigerian. We have deep issues, there is more to this story.

Fuck heads! After giving away all their monies to Bankole et al
the fuckers are broke and are now venging
their anger on the poor! In a country where
labour unions are warming up for a show
down with govt over implementation of
18000 minimum wage a set of empty skulls
are fixing minimum balance above minimum
wage. I hope all u UBA staff behind this
can see how shallow ur wisdom is. Olodo!

It looks like Useless Bank for Africa (UBA) finally cornered more accounts from the new lawmakers hence the decision to shut out poor people. My worry is that the other banks are likely to follow suit soon that is assuming the CBN does not make it a policy not to have less than N25000 in one's account. Shame!

i dey laugh o!