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Following huge protests on Twitter, Access Bank has reversed its action of deducting Stamp Duty Charges from all its customers accounts.

The Stamp Duty deductions applied to all credit received into current and savings accounts in respect to electronic transfer and teller deposits of N10, 000 and above. The money is remitted into the account of the Central Bank of Nigeria.

The Management of the bank was quick to respond to customers requests to reconsider the action that began on Saturday.

“We have heard our customers’ feedback that this charge is unwelcome, especially at this time against a challenging economic drop,” the bank says in a statement.

Access Bank was trending on Twitter today as several users posted protest messages and memes to register their dismay about the charges.

The deductions were for February and March, which were delayed till this week.

Access Bank had stated in an e-mail sent to customers on June 23 that it “will be required to process the accumulated charges” incurred between February 1, 2020 and April 30, 2020.

A customer who operates Access Bank account received an alert tonight showing that the N200 deduction made has been reversed.

A credit alert showing the refund of Stamp Duty deduction by Access Bank0

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