NewStats: 3,263,216 , 8,179,413 topics. Date: Thursday, 05 June 2025 at 05:49 AM 5g196t

It all depend on the savings product your are operating and also the bank. Some is =N=500 while others =N=1,000

u don do yahoo abi u come dey fear

baridamhoney:



So are u saying that it I only my id card that will be required to upgrade my to accommodate millions and can it be done at any branch?

I upgraded my Last week. I needed only NEPA bill and ID card to upgrade the acct. Nothing else

The truth is if dt savings hs never in its entire life had a balance of N1Million, your will be frozen until you can provide some documents and i.ds as requested by the bank.

A single lodgement of 10m will definitly freeze d savings acct. Coz, cbn directive mandates d banks to inform dem of any single lodgement up to N5m on a savings, N10m on current i think.

Seek advice frm ur bank b4 d transaction. Otherwise, d wahala dey go use u do lasan especially if na banks like first bank wey geh wahala

Better still,open a current with a ed business name and deposit your money there.

Chipappii:
Lets see what pussypounder has to say




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10M? You can deposit it in my Diamond bank acct without qierry

Go with a valid ID and nepa bill to any branch of your bank , tell them you want to know the maximum capacity of your savings , if it's below the amount you're expecting(mostly 500K)..tell them you want to upgrade the savings to standard savings ...simple ,takes between 1 to 3 days to effect

okenwa:
Deposit the money piece by piece. Or give different depositors to lodge the money into the

E don tay you for 419.

Though there is no limit to what can go into a savings , the fear you allay is same with a current . Once there is a sudden boom in an balance, whether savings or current, such would be placed on PND and the source of the fund queried. However, I can also advise that you migrate your to a current by just providing two reference letter if you are not comfortable having huge balances in the savings .

andersonbaba:
A friend of mine has a Savings and he plans to use it for land transaction worth about 10million naira. the questions now are;
1. can 10 million naira be deposited in a savings without query?

2. will he be able to make a withdrawal from the individual savings without being arrested bt security operatives ?

3. will his be frozen for some policies reason and where that happens, will he still be able to access his hard earned cash?

4. is there anything like maximum cumulative balance and if there is what is the maximum balance for a savings

pussypounder:



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andersonbaba:
A friend of mine has a Savings and he plans to use it for land transaction worth about 10million naira. the questions now are;
1. can 10 million naira be deposited in a savings without query?

2. will he be able to make a withdrawal from the individual savings without being arrested bt security operatives ?

3. will his be frozen for some policies reason and where that happens, will he still be able to access his hard earned cash?

4. is there anything like maximum cumulative balance and if there is what is the maximum balance for a savings

Do it 5 million apiece! Usually, they do verification for every 5Million that comes in or out of your . As long as your source of funds are legit, you dont have anything to worry about!

Baridamhoney and Anderson

D real upgrade for such kinda deposits will require ur intl port, or natl i.d card So dt it will be easier to catch u if na dasuki do transfer to you...

thunderbabs:
The truth is if dt savings hs never in its entire life had a balance of N1Million, your will be frozen until you can provide some documents and i.ds as requested by the bank.

A single lodgement of 10m will definitly freeze d savings acct. Coz, cbn directive mandates d banks to inform dem of any single lodgement up to N5m on a savings, N10m on current i think.

Seek advice frm ur bank b4 d transaction. Otherwise, d wahala dey go use u do lasan especially if na banks like first bank wey geh wahala

First bank nor get wahala stop spreading false rumors. I have done alot of transaction there dude.. I think another bank that is good still is GTB....

nairaman66:


First bank nor get wahala stop spreading false rumors. I have done alot of transaction there dude.. I think another bank that is good still is GTB....

That depends on d relationship u had with d bank. Meet other customers and you will hear a tale.

andersonbaba:
A friend of mine has a Savings and he plans to use it for land transaction worth about 10million naira. the questions now are;
1. can 10 million naira be deposited in a savings without query?

2. will he be able to make a withdrawal from the individual savings without being arrested bt security operatives ?

3. will his be frozen for some policies reason and where that happens, will he still be able to access his hard earned cash?

4. is there anything like maximum cumulative balance and if there is what is the maximum balance for a savings

I do not think that there will be any problem whatsoever .. you can either ask the person paying to send it in two instalments or notify your officer. Those are the two sure solutions.

I've had similar encounter in the past and all I did was scream at the branch manager basically because I'm a uniform man . What worked for me might not work for you though.


jah bless

It depends on the type of , and if u use proper valid ID CARD for the opening u can deposit more the 50 million. But u will be asked where the source of fund come from for records purpose if it's gotten tru money laundering or something related to that. But maximum single deposits for a savings is 5 MILLION (i.e if a lodgement is made that exceeds that amout ur will be flagged for SUSPICIOUS TRANSACTION REPORT). Also u can't withdraw more than 500k over the counter,but if u insist additional charge will be deducted from ur . But u can do internet banking or mobile banking to third party holder. I hope dis help.

First u need to know the difference between the savings s available and how they operate. Then you must be sure that the money entering has a valid source and with that no cause for alarm. But note the following;
* Any amount above 1 million entering a savings will require the bank to notify EFCC or likes according to NFIU rules. That doesn't mean EFCC will arrest you or call you, it is just the standard procedure.
* A student savings cannot hold that amount of money without it be frozen. In that case, you need an a standard savings to be able to withdraw such huge amount in the .
* Fear not if you can defend the source of the money but you will surely meet some little delays sha.
* Google the bank in question and discuss with their online customer care the concerns you have or visit any of their branches to discuss the issue before deposit is made.

Be blessed.

Dear OP,

If your was opened with a valid ID card (voters card,International port, Drivers License, National ID) and a valid utility bill such as PHCN bill, waste bill, etc you can lodge/withdraw/operate your without fear.....also if the source of inflow is not from any illicit criminal activity like kidnapping, armed robbery and other related activities you have nothing to fear... However, if you do not have a valid id and utility bill ed on your then the bank is expected to throw you to the wolves if your receives any unusual and unexplained inflow!

andersonbaba:
A friend of mine has a Savings and he plans to use it for land transaction worth about 10million naira. the questions now are;
1. can 10 million naira be deposited in a savings without query?

2. will he be able to make a withdrawal from the individual savings without being arrested bt security operatives ?

3. will his be frozen for some policies reason and where that happens, will he still be able to access his hard earned cash?

4. is there anything like maximum cumulative balance and if there is what is the maximum balance for a savings

Please your friend should visit his bank and ask. Savings s come in different variants. Of course he will have no query if he opened his with a valid means of identification and utility bill. 10million is too small sef lol. Such s can have any amount

@OP there is no issue especially if transactions on the have been at that level. The worst is they will place a No debit order on the but its easy to resolve at any bank branch once you answer a few questions. Had a similar issue in 2013 and it was resolved immediately. You have no reason to worry so long as the money is not from 419.

Is Savannah bank still in existence ?

Listening

For this recession wey we dey face pesin problem na how to save millions of naira for bank? The op must be one of GEJ's boys..I dey suspect am... EFCC must be called upon to investigate ASAP..

let him visit his bank for advice. can I know the name of the bank so that I can be of help

andersonbaba:
A friend of mine has a Savings and he plans to use it for land transaction worth about 10million naira. the questions now are;
1. can 10 million naira be deposited in a savings without query?No....You will be asked basic question.It will flag and require authorization.meaning it can not go into your unnotice.

2. will he be able to make a withdrawal from the individual savings without being arrested bt security operatives ?No reason in arresting u, worst case your will be frozen.

3. will his be frozen for some policies reason and where that happens, will he still be able to access his hard earned cash? A frozen can be reaccessed if the source of the cash is legit.

4. is there anything like maximum cumulative balance and if there is what is the maximum balance for a savings .No.....

Use bank that are used to high volume of transaction..like gtb, zenith and firstbank....they dont have time for stories cos they are too busy.

andersonbaba:

then what is the essence of our BVN then?

the query might have risen due to the being a student and they want to question how so. guess an upgrade can always solve this.

ironMind:
I am know that you is not get minimum and maximum. Any money you is carry to bank, she is collect and deposit. Only if you is carried fake money then they is look it in their club blue light. It is show that it fake. They not collect.

ayam not understanding

You have nothing to fear so far you can defend the source of the fund.

Go seek advice from your manager or officer and stop making noise here.......... Baba Olowo Ejo

andersonbaba:



you are right dear. one of these bank officials might help us out before someone will create a thread of how he / she lost money to a bank

Let me help here banks have differents products,ranging from early savers,solo ,standard savings currents s individual,current s savings tier 1 nd tier 2 respectively,the onion here is to open an with a complete documentations,for saving standard u will need a valid I'd and utility bills,unlike for solo s which is for students,tier one and tier 2 no needs of valids I'd and there will be limit to amount of money you can pay into such s,if u open a tier 2 or tier 1 expects to do a transactions less than a million,anyday u drop cash more than a million a PND (post no deposit) will be placed on the then u will be asked to produced some documents to migrates the .also why will u deposit a 10m in an that all the year u runs the the largest deposit u ever made was 20k,re u funding terrorist ?