There was a time I made a transaction through my GTbank master card to order an item on Konga, the transaction failed. I called Konga, they told me the money is with GTBank that I should go to the bank. I went to the bank and I was told to fill a report form which I did. I did not get refund back. I went to the bank two times. It was ₦5960 but that was 2012.
There are many news that I have read online that people will voice out about how bank want to scam them. But if we can see many news like that, how many would have happened that these banks officials have stolen from people. It happens frequently. The one I read about 2 days ago but surfaced on the news 10 days ago shocked people. You can watch it here:
https://youtu.be/bMDO89sArdU?si=05hHenX9T1y-BLPlThe man noticed ₦55 million was lost from his account. He investigated and noticed that the money was stolen by bank officials. That pissed him off and wanted to terminate his fixed deposit of ₦500 million. He was told that the money has been withdrawn. He sued FirstBank. They stole his money.
I am surprised that someone can hold ₦500 million in fixed deposit but he is not a young person but an elderly man which we should expect something like that.
You can lose bitcoin also through scam or wallet hack, but they are very easy to avoid if you read about it. Naira that is depreciating in price.
I have read in recent times, like end of last year how banks steal people’s money especially if the person is deceased and the family does not come to claim the money in the account. Even when you have your next of kin information in a bank, it is not a guarantee that they will contact them after your demise to give them the money, they’ll intentionally hold on to the money and if you’re not one that is very rugged, they may deny that the person never saved money in their account and they will just keep it to themselves.
I read in a news when a woman reported to social media activist VeryDarkMan to call out Access Bank for denying to have in possession some amount of money (in millions), the deceased brother left in the fixed deposit of the bank. The brother gave her information on all banks he had savings with, so she was following up those banks up to collect the deceased brother’s money. How Access Bank was denying her access to the money was how one of the banks she was following up did but after she threatened them, they gave her the money.
Now Acesss were proven hard and still saying he doesn’t have money with them in which he has the largest amount of deposit there. I don’t know how the story ended but that shows how banks are the thieves we thought they can keep out money safe with. No matter what happens and how secretive we want to be, we should allow our loved ones or more importantly next kin knows where we have money with so that they can claim it when we are no more. The wealth is better off used by your loved ones than being used by the banks for their selfish desires.
There was an old man I once met in Lagos who also had a similar issue with UBA bank then.
What happened was that whenever he goes to withdraw his money with the help of his bank manager, he would sign and fill the check in front of the manager who is rendering assistance to an old man. It wasn't long the manager started faking his signature and using it to withdraw the old man's funds because he didn't have anyone as family to assist him with such delicate thing as filling a check and cashing it out like everyone else on queue.
The Naira is really depreciating in value very fast and with the way bank staffs are acting indisciplined and stealing from accounts unsuspectingly, cryptocurrencies investment mostly DCAing BTC has never assured one of wealth that could be easily transferred to the next of kin in cases of demise or sudden tragedy. The personal banking idea that Bitcoin marked as a success has opened so many other opportunities and it's a world of its own for real.
There's no fixed deposit issues or bank manager stealing or bank staffs claiming deceased money issues with crypto currency and a secured cold wallet and good amount of BTC in it over time could be a heirloom to the next of kin without much notice from others not within.