…ISSUE TWO ATM CARDS FOR ONE ACCOUNT
By Okosun Dennis
With a “brand of fortitude, strength and innovation in the Nigerian financial sector,” to what extent does First Bank factor the convenience of its customers into such innovative ingenuity to make them stand out?
Unfortunately, First Bank is blazing the trail as one of those commercial banks in Nigeria that have resorted to dubious means to siphon its numerous customers to maximize profits, thereby creating a hole in their purses.
This is evident as recent findings revealed that First Bank has recently been issuing two Automated Teller Machine (ATM) Cards for one account and charging them double; a policy, it was gathered, started recently.
Precisely on the 27th of November, 2024, this reporter strolled into one of First Bank branches located at Palace Road (beside the market), Ekpoma, headquarters of Esan West Local Government Area in Edo state to renew his card having realized that the one he had had expired.
Characteristics of the bank with its slow network conundrum, a form was completed requesting for a new ATM card. Due to the large number of customers making such requests for a card, about an hour later, I was called to be attended to.
After the usual preliminary questioning, I was issued two ATM cards and directed to meet another lady at the Activation Desk, who was identified as Ugochi.
The issuance of the cards got me thinking, hence, I demanded to know the rationale behind it. Besides that, I vehemently objected to having two cards for one account.
Unfortunately, the woman offered a crappy reason which I trashed as obnoxious and proceeded to meet the lady at the activation desk. Before it got to my turn, looking closely at both cards, I realized that one was Visa and the other was Verve card. Amazingly, both bore two different expiration dates of August and November 2027, respectively.
With these findings, the curiosity to deepen investigation was rekindled. With that in mind, I checked my account only to discover that I had been debited N2,000 for both cards and N150 as charges. The suspicion became rife considering that every quarter, First Bank deducts N56 for card maintenance, a practice, even though it has become a norm among all commercial banks, is questionable considering the card that is constantly in my wallet.
Having been directed to channel my questions to the lady who will activate, she tried effortlessly to convince me, noting that the cards are necessary because when a customer exceeds daily withdrawal with one card, the second card would come in handy as an alternative, hence the issuance.
Bluntly, I told her I don’t need it and will never accept two cards for one account and faced with being debited twice continuously, quarterly as maintenance fees.
Without mincing words, the customer care officer (the lady) was very professional, calm and gentle. However, her excuses couldn’t sway me to fall into their bumpy trap and face timeless deductions.
At that point, I requested to see the Manager. Less than an hour later, I met the Manager. A young man full of professional prowess with a gentle disposition. He explained the rationale, asking that I ought to be asked before issuance. Determined to settle the matter, he refunded my N1,075, which was paid to my account.
Thereafter, I was given a scissor to destroy the card that I didn’t want. I did, and the one I preferred was activated and stormed out of the premises.
According to one of the customers, identified as Omondia Success, who was also issued two cards, explained that he had not given the issuance a thought until I asked him. He frowned at the practice, stressing that it was out of place to force two ATM cards on a customer and be subjected to double deductions from his/her account.
To confirm the new policy in First Bank, which I haven’t seen in other banks, I got into one of their branches at Ikota (Landmark Building, Ajah-Lagos) to confirm if it was a new operational policy of the bank.
To my greatest surprise, First Bank is indeed issuing two cards for one account. However, the customer care officer disclosed that such cards are issued based on request, adding that it was not compulsory for every account holder.
Findings further revealed that some branches of First Bank issue two cards without prior knowledge of the customer or necessarily requesting for it. Unfortunately, most customers are not aware of this operational policy and, therefore, are hoodwinked into having the cards.
It is instructive to highlight the fact that before I was attended to at their branch in Ekpoma, over 30 customers had been issued two cards each.
Speaking with our correspondents, a banker, who spoke anonymously, said it was wrong to have two ATM cards activated for one account.
“Once one card is issued, the other card should be destroyed or deactivated. You can’t have two cards on one account. It was good you objected to it,” he explained.
Also, a security expert, however, differs on the ground that an emergency could arise and the second card would assist members of the family to have access to funds or when one of the cards is misplaced.
According to Amb. Roy Okhidievbie, Chief Executive Officer, August-Eye Security, observed that issuance would enable the customer to give one of such cards to the children in case they needed cash in the absence of their father.
Attempts made to speak with the Media officers of First Bank plc to hear their views were rebuffed as they neither picked up their calls nor responded to my WhatsApp messages.
In December 2024 and January 2025, a message was sent to Mr. Ismail Omamegbe, one of the Media officers of First Bank, but he failed to respond to a WhatsApp message and a call made to him was also not responded over the issuance.
Also, a couple of weeks ago, a call and message to Mrs. Comfort Adesipe were not responded to.
At the moment, with sundry unexplained debits coupled with the new Central Bank of Nigeria’s (CBN) order with effect from 1st March 2025 for ATM to attract N100 from every N20,000 withdrew from ATM belonging to other banks, it would be a further financial burden for ATM holders not to talk about having two for one account as First Bank is presently issuing.
Incidentally, with over 40 million account holders with other wallets, in addition to the N56 quarterly deductions as maintenance fees, it is safe to say that First Bank is smiling to the bank while the customers are leaking their wounds.
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