The management of Access Bank has stated that it will pay the stamp duty charge on behalf of its customers. This was after the public outcry by Access Bank customers over the numerous deductions from their accounts.
Access Bank said that deductions made between Saturday and Sunday would be reversed to customers. This was after he noted that the bank recognised that it is a tough period for customers.
According to the Finance Act of 2019, bank customers are expected to pay a N50 stamp duty charge on every N10,000 deposit.
It’s numerous customers used various hashtags on social media especially Twitter. Hashtags such as #accessbankscam was used to demand a reversal of the deductions made on the accounts of the bank’s customers.
Furthermore, many Twitter users threatened to close their respective accounts with the bank. Another group of Access Bank customers said they would lead a protest to various branches of the bank on Monday.
However, Access bank made a statement on Sunday promising that it would pay the stamp duty on behalf of its customers.
“We have considered your feedback and have decided to pay the stamp duty on our customers’ behalf. The payment will be for the affected period only.
“This means that individuals and SMEs who were debited for the accumulated stamp duty charge for February to April 2020 will be refunded.
“While we still have to remit these funds via the CBN to the federal government, we realise that we got it wrong by debiting our customers late. Therefore, we are refunding the affected stamp duty charge today to all affected customers.
“We hope this gesture goes some way to make this better.”
Some Nigerians are already testifying to seeing a refund on their account. This goes a long way to show that the bank listens to its customers.