Access Bank to Charge Customers for Accrued Stamp Duty

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Access Bank to Charge Customers for Accrued Stamp Duty

Access Bank to Charge Customers for Accrued Stamp Duty

Access Bank Plc said it will process accrued stamp duty charge on its customers transactions value at #10,000 and above between February 1 and April 30.

Thus, this implies that accounts holders that have received credits from #10,000 and above in the stated period will be debited.

The lender said it failed to process stamp duty fee on its customers’ current and savings accounts in the period.

MarketForces recalled that stamp duty charge has been generating issues between banks and their clients for awhile.

Access Bank to Charge Customers for Accrued Stamp Duty

However, in an email, Access Bank said, “You may recalled that the Central Bank of Nigeria mandated a charge of #50 as stamp duty charge on all credits received into customers’ current and savings accounts.

“In compliance with the mandate, we will be required to process the accumulated charges for the said period on your account for remittance to the CBN”.

Meanwhile, this is in respect of deposits and electronic transfers into all Naira-denominated accounts for transaction values of #10,000 and above, it added

The management recently discovered that the charges on applicable transactions carried out between February 1 and April 30 were not passed on your account.

As a result, Access Plc is appealing to its customers to fund their accounts for effective processing of the charges.

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Access Bank to Charge Customers for Accrued Stamp Duty

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