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How much does it cost to print a bank statement?

Ugodre Obi-chukwu by Ugodre Obi-chukwu
February 28, 2012
in Uncategorized
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Amidst all the ease and effectiveness of online banking in Nigeria, it is possible for one to ignore the excess charges that we are subjected to on a daily basis. One of such charges is the cost of printing a bank statement. I recently went to the bank to print a one year statement of an account I run. I typically do not go to the bank for such request as I like most others print statements online. Since I do not have online access for this account I had to go to the bank myself. On getting there, I was told to write an official letter requesting for the statements. I was also told that it will cost me N250 a page!! Yes N250 per page to get my statement printed. So, depending on the volume of transactions in my account I could end up coughing up as much as N12,500 for just 50 pages.

I wonder if this is just peculiar to Oceanic Bank (or Ecobank as they are now called) or if its an industry wide transaction cost. Whatever the case I consider this a rip off on customers. Just how much does it cost a bank to print a single page? Someone said its just a way to encourage paperless banking. But even at that N250 is just too expensive. For now though, I can only complain and just hope that the pages do not exceed one.

Tags: News Review
Ugodre Obi-chukwu

Ugodre Obi-chukwu

Ugo Obi-Chukwu "Ugodre" is the Founder, Publisher, and Chief Analyst of Nairametrics, a leading business and financial news online platform in Nigeria. Ugo is also the Chief Editor of the Nairametrics “Blurb” Opinion pages. Follow Ugodre on Twitter @ugodre and Instagram @ugodre Email: ugodre@nairametrics.com

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Comments 4

  1. Seun Osewa says:
    February 28, 2012 at 12:20 pm

    Logically, it should be peculiar to shady banks, who don't want you to know that they are stealing from your bank account.

    Reply
  2. Ugodre says:
    February 28, 2012 at 1:39 pm

    This is not even stealing. They just tell you the cost outrightly

    Reply
  3. ahniyi01 says:
    February 29, 2012 at 9:58 am

    I really don't see it as a rip-off. Considering, every other thing being okay, you are entitled to a periodic(monthly or quarterly, in respect to your account type) statement of account.

    Reply
  4. Ugodre says:
    February 29, 2012 at 4:48 pm

    How much does it cost them to print a page anyway??

    Reply

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