No more charges: Nigerian bank offers customers free tranfers

[Miles2006]

I came across this news last night concerning the new Airtel Africa smartcash payment service bank that just started operating, the smartcash payment service has offered free transfer to Access, Zenith, UBA etc. I was surprised to see the news and it seems the offer will not stand for long and they just want their customers to enjoy the free transfer that's why they offered such.
Seeing the CBN transaction fee, #10 fee is for 5,000 etc. Remember that in bitcoin transaction you must pay a transaction fee and the fee dey high for now but now the local banks are making transaction free, seeing this free transaction offer sounds misleading for newbies that just started investing newly and some dey complain about the fee.
The fintech bank dey really try for Nigerians cause have seen another information in this board concerning Opay and their 15% annual profit. With all this kind of offers some people go quickly dump their investment then focus on the free transaction with their local banks, I'm not saying the free transaction is bad because we too dey part of the free transaction stuff but make e no stop some people from buying bitcoin, regardless the free transaction fee make we still focus on bitcoin because naira no get value and naira and bitcoin no fit compete.
In your own opinion what do you think about this move?

[Charles-Tim]

With all this kind of offers some people go quickly dump their investment then focus on the free transaction with their local banks, I'm

The thread I came up with about OPay 15% annual profit is not about OPay but about naira. It was about how naira has been a depreciating asset and the reason people suppose not to use it for savings. It was about how naira price has been depreciating after some months or years.

On OPay, you have 3 free transactions or so daily before you will be charged ₦10 for each transactions. 3 transactions in a day is enough. On Kuda, it is 25 free transactions a month. On Palmpay, they also have free transfers. Just do not go for sms subscription and enjoy some free transactions daily or monthly.

[Ruttoshi]

I came across this news last night concerning the new
The fintech bank dey really try for Nigerians cause have seen another information in this board concerning Opay and their 15% annual profit. With all this kind of offers some people go quickly dump their investment then focus on the free transaction with their local banks, I'm not saying the free transaction is bad because we too dey part of the free transaction stuff but make e no stop some people from buying bitcoin, regardless the free transaction fee make we still focus on bitcoin because naira no get value and naira and bitcoin no fit compete.
In your own opinion what do you think about this move?

Nah...we cannot spend bitcoin everyday even though the price of bitcoin transaction fee is low just the way it was before ordinals spamming, so many stores and shops have not started acceptinh bitcoin as an alternative payment method in my location. Buying bitcoin should be for investing, if not how you won take make profit from your investment if you buy today sell today.

Free naira transaction is a norm on this mobile banking and no bitcoin aficionado will say because Naira has free transfer he wouldn't invest in bitcoin anymore, when we all know the potential of bitcoin as an asset, censorship resistant and scalability is more than free transfer on Naira that depreciates with timeline. Bitcoin appreciates with timeline. Bitcoin na bitcoin, Naira na Naira, they don't have any comparison because Naira is centralized and bitcoin is the opposite.

[Davidvictorson]

On OPay, you have 3 free transactions or so daily before you will be charged $10 for each transactions. 3 transactions in a day is enough. On Kuda, it is 25 free transactions a month. On Palmpay, they also have free transfers. Just do not go for sms subscription and enjoy some free transactions daily or monthly.

I was going to write this when I saw it.

I remembered when OPAY launched, there were no fees for transfer within OPAY and other commercial banks. As soon as they got traction, they placed a charged. Me think that this was all in place from the first. It is a basic market strategy and they played it well. with the Airtel Smartcash thing, it would have been poor of them if they had decided to enter the market with a charge on transactions. You know what we Nigerians know their plans and it will be no different from OPAY and the others.

[Cryptomultiplier]

smartcash been don dey dash me small small money like N50 in the past few days, but since I no really know watin e be, I no know where the credit dey enter, na only message I dey see. This post wey I just jam, don help me understand watin dey sup with smartcash and their modus operandi.

As per the free transfer for transaction fees, I doubt am, because so far I don do several transactions since this year begin, and na so so electronic transfer levy and debit for using the USSD service from my bank, I dey see o.

I go try do more research up on am, so I go fit dey among those wey don start to enjoy the benefits of a new innovation.