Page 12 - INSIDE ACCESS FEBRUARY-21-3RD EDITION

TALES FROM THE BANKING HALL
The Exchange
ARate
later she received her refund, but the refund was less N15,000.00 of the sum she was originally debited for.
The BSM reviewed the customers’ account and reached out to the inflow unit, the schedule for funds received was sent to the BSM, and it showed $100.00 was sent from the seller. However the exchange rates had changed between the time the funds were sent by the customer and received by the Bank, hence the difference in Naira values. This was explained to the customer who bemoaned her fate, lamenting that she should have just sent the extra amount for delivery as requested. She had lost on both sides, she did not get the goods and she did not get all her money back.
The BSM sympathised and made a mental note to always educate customers on the dangers of transacting during turbulent exchange rate periods .
young lady, well dressed but with a visible frown walked
in and politely requested to see the manager. The BSM greeted her and asked how she could be of service. That's when the floodgates opened and through her tears she began narrating her story.
She purchased an item on a foreign shopping site amounting to $100 using her Naira card.
She understood that the sum paid included cargo and delivery, however the seller contacted her informing her that she would need to pay extra to cover delivery costs. As this was not her initial understanding of the transaction, she got upset and requested a refund which the seller did immediately. She waited a week then visited the branch to complain that the funds were yet to be remitted into her account. Her case was logged on CRM and a week
Contributed by
Lidadi Bassey
PAGE 12 INSIDE ACCESS | FEBRUARY 2021 3RD EDITION