Sunday, Oct 17th 2021 2:59 AM

Market Digest Nigeria


Barclay Bank’s new minimum Balance affecting Nigerians.

Many Nigerian account holders have been affected by the new minimum balance policy of England’s Barclay Bank.

The bank recently pegged the minimum balance that a customer can hold at £100,000.Barclays Bank of England has asked some affected Nigerians including expatriates, with less than with less than £100,000 deposit to close their accounts.Affected customers have also been advised to increase their deposits or close the account.According to reports on the cable, the bank communicated the development to affected customers via a letter dated June 12, 2017.The bank informed the customers that would be affected by the policy of its decision to raise the minimum client balance requirement for international banking service.“The new minimum level will now be £100,000. Top up your savings and investments to £100,000 or more before 1 August 2017, to continue with the service, or close your account and transfer your monies to another provider without charge,” the letter read.


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