Stop Unfair Banking Practices by Zenith Bank

I bank with several Nigeria banks and on all their online banking portal they all offer a variety of same day transfers with the notable exception of Zenith Bank.

It is not so much that they don't specify on their website whether the single payment transaction will be next day credit to the beneficiary's account, but the amount is debited from the customer's Zenith Bank account immediately.

I have transferred large sums of my money from my Zenith Bank account thinking the beneficiary will receive value on the same day but alas if this is not done before 11.00 am, the credit will not be reflected in the beneficiary's account until next day.

Guess what Zenith does with your money overnight? This is placed on some sort of inter-bank overnight deposit platform where banks lend to each other. This allows Zenith to earn interest of 15% overnight on your money before value is given to the beneficiary.

Now we know how their executives have grown so fabulously wealthy!