Few days ago, Sunday precisely, I asked an old man how they felt the first time they heard of bank? According to him, they didn't believe that something like that could exist. Finally, it became a reality and they all rejoiced.
But do you know that what brought joy and happiness to them back in those days are now a cause for tears and agony. Banking system mode have depreciated. infact, it have paved way for fraudulent acts.
Their services are no longer reliable because, we all know that bank is a place where one can put his/her money with full assurance that it's safe. Also, at the end of each month, you will expect some returns. On the other hand, what are we seeing today? FRAUDULENT ACTS.
My reasons
- Lack of trust: If one should save money in local banks today, it's at your own risk. To understand it clearly, let me dish out an example: My cousin sister saved NGN200,000 which is equivalent of 5,714.3 Leo. Normally, monthly, she do receive bank alert. But, for like 2 good months, she didn't receive any alert. Therefore, I encouraged her to visit her bank to ratify the issue. Reluctantly, she went. Do you know that she found zero naira in her wallet! She met the bank manager who told her cock and bull stories. This issue happened 3 months ago, and up till now, according to them, they are still tracing how the money disappeared. As for my cousin, she is undergoing emotional trauma along with regrets because, initially, I encouraged her to save in crypto but she refused.
- Minor returns: Every investment should have a reward or returns. According to banking system mode, once you bank with any bank, you will expect some returns per month. That's why if one saves without withdrawing, just in a year, the money will yield bigger returns. But, nowadays, what are we seeing?👇
- The more you look the lesser you see: Yes, the more you save in banks the lesser your money. How? If you've saved like 50k, per month, they may credit you NGN 30 or even less, which is not even equivalent to one Leo. Then, within some minutes, a second alert must visit you. Hahaha, 🤣 this time, it's debit alert! Depending on the bank, the debit alert is either NGN 50(1.45 Leo) or 52(1.50 Leo) According to them, it's for ATM card maintenance. But, before issuing out the card, you've paid NGN 1050(30 Leo) May God save us!. They credits lesser and debits higher. Believe me, if you have 50k, just give it one to two years, it will be things of the past.
- Easy access to fraud: Today, we have local and digital fraudsters. Those referred to as digital fraudsters are those legally approved which some bankers are among. Just take a look at that my cousin sister's issue. There is no record of personal withdrawal, just that the money disappeared into thin air. Does that not sound weird and tickled to the ear? Now, as adults, who do you guys think that removed her money? if am to answer this question, I will say digital legal fraudsters(Bankers). If am wrong, correct me by bringing in your personal opinion. Welcome in advance.
Conclusion
Local banks are no longer safe for our hard earned money. I suggest we save if possible, only in crypto. I have my reasons for saying so. Expect it on my next article.
This is my first time posting in this Leo finance community. Hope am welcomed?
Byee.