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Banks that will be extinct in a few years
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VituVingiSana
#41 Posted : Friday, February 05, 2016 1:08:11 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
murchr wrote:
VituVingiSana wrote:
murchr wrote:
VituVingiSana wrote:
[quote=murchr]Safaricom does not charge 100/- for a USSD txt. For heaven sake all the local banks are connected to safcom too, why don't they charge 100/-.?
It was a number of charges at 7/- a session [I was debited in 7 or multiples of 7]. I have no idea how the sessions were calculated but it was roughly 100/- by the time I was done. I never used the service again.

James Mwangi said Equitel will not charge per USSD session during one of his presentations.


All charges by Safaricom? Not true!

It showed up on my bank statement not safaricom bill. I called the bank and asked about the charges. They said these were USSD charges. Perhaps they added a premium per message/USSD enquiry? Then I just stopped using the service. End of story.

And that's why I appreciate that Equitel clearly said there will be no USSD charges. http://www.financialtech...oney-transfer-services/[/quote]

Your banker simply lied .

OK. "Banks that will be extinct in a few years"
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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murchr
#42 Posted : Friday, February 05, 2016 5:15:12 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Lets see how the cookie crumbles when Barclay's exits this "dark" continent. From the grapevines I understand the local banks have been on a talent poaching spree and some of these execs have been moving with their high net-worth accounts
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Swenani
#43 Posted : Friday, February 05, 2016 8:38:12 AM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
PKoli wrote:
VituVingiSana wrote:
Sir invest wrote:
I have the same testimony. I am in one chama where we lend at 10% per month. The dividends per annum is 60%. i don't regret joining.
I need to join the chama! At 60% dividends, who needs to invest on the NSE?

Question: Is this a legit chama & not one of those pyramid schemes? Which chama, please share.


Does that Chama only lend to members or non members? Why would take a loan at 10% PM when you can get much cheaper elsewhere?


Yes, the only lend to members, if you happen to borrow more than your shares,you must have gurantors.

A person who has no fixed source of income cannot qualify to get a loan from the formal sector thus whiy the table banking are thriving.

It's a crime to be poor!
If Obiero did it, Who Am I?
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maka
#44 Posted : Friday, February 05, 2016 9:05:03 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Swenani wrote:
PKoli wrote:
VituVingiSana wrote:
Sir invest wrote:
I have the same testimony. I am in one chama where we lend at 10% per month. The dividends per annum is 60%. i don't regret joining.
I need to join the chama! At 60% dividends, who needs to invest on the NSE?

Question: Is this a legit chama & not one of those pyramid schemes? Which chama, please share.


Does that Chama only lend to members or non members? Why would take a loan at 10% PM when you can get much cheaper elsewhere?


Yes, the only lend to members, if you happen to borrow more than your shares,you must have gurantors.

A person who has no fixed source of income cannot qualify to get a loan from the formal sector thus whiy the table banking are thriving.

It's a crime to be poor!


Also am in one...10% PM ka hutaki go get a bank loan....
possunt quia posse videntur
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Sir invest
#45 Posted : Friday, February 05, 2016 11:35:28 AM
Rank: Member

Joined: 8/19/2015
Posts: 125
This applies to Chamas in the villages(counties far from Nairobi) where people are skeptical about bank loans. Don't try this here in Nairobi can flop coz of high level of defaulting unlike in mashinani where pple are disciplined.
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kayhara
#46 Posted : Friday, February 05, 2016 1:26:23 PM
Rank: Veteran

Joined: 5/5/2011
Posts: 1,059
VituVingiSana wrote:
murchr wrote:
VituVingiSana wrote:
murchr wrote:
VituVingiSana wrote:
[quote=murchr]Safaricom does not charge 100/- for a USSD txt. For heaven sake all the local banks are connected to safcom too, why don't they charge 100/-.?
It was a number of charges at 7/- a session [I was debited in 7 or multiples of 7]. I have no idea how the sessions were calculated but it was roughly 100/- by the time I was done. I never used the service again.

James Mwangi said Equitel will not charge per USSD session during one of his presentations.


All charges by Safaricom? Not true!

It showed up on my bank statement not safaricom bill. I called the bank and asked about the charges. They said these were USSD charges. Perhaps they added a premium per message/USSD enquiry? Then I just stopped using the service. End of story.

And that's why I appreciate that Equitel clearly said there will be no USSD charges. http://www.financialtech...oney-transfer-services/[/quote]

Your banker simply lied .

OK. "Banks that will be extinct in a few years"

By the way coop customers beware that the bank debits you 39.50/- every time you deposit money by mpesa paybill to your account learnt that today when closing
an account, also every time you use the ussd and the pin is accepted you are debited 35/- for that secession note this is debited from your account, safaricom will charge you separately.
To Each His Own
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Swenani
#47 Posted : Friday, February 05, 2016 2:18:20 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
Sir invest wrote:
This applies to Chamas in the villages(counties far from Nairobi) where people are skeptical about bank loans. Don't try this here in Nairobi can flop coz of high level of defaulting unlike in mashinani where pple are disciplined.


You're mistaken, some of these kileleswa middle class kenyans are so overburden with debts to the extent that they are borrowing expensive debt to pay cheaper debt
If Obiero did it, Who Am I?
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innairobi
#48 Posted : Friday, February 05, 2016 2:48:57 PM
Rank: Member

Joined: 9/2/2010
Posts: 845
murchr wrote:
Lets see how the cookie crumbles when Barclay's exits this "dark" continent. From the grapevines I understand the local banks have been on a talent poaching spree and some of these execs have been moving with their high net-worth accounts


Do large accounts usually move that easily? They're notorious for having 5 or 6 bankers in order to spread their risks. All they'll do is open a new account but not close their old ones. Also for the multinationals, the relationship is at a global level so their Kenyan account has little flexibility.
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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Boris Boyka
#49 Posted : Friday, February 05, 2016 4:10:13 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
Swenani wrote:
Sir invest wrote:
This applies to Chamas in the villages(counties far from Nairobi) where people are skeptical about bank loans. Don't try this here in Nairobi can flop coz of high level of defaulting unlike in mashinani where pple are disciplined.


You're mistaken, some of these kileleswa middle class kenyans are so overburden with debts to the extent that they are borrowing expensive debt to pay cheaper debt

@Swenani I highly doubt you understood @Sir invest.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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watesh
#50 Posted : Friday, February 05, 2016 4:37:51 PM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
murchr wrote:
VituVingiSana wrote:
murchr wrote:
VituVingiSana wrote:
[quote=murchr]Safaricom does not charge 100/- for a USSD txt. For heaven sake all the local banks are connected to safcom too, why don't they charge 100/-.?
It was a number of charges at 7/- a session [I was debited in 7 or multiples of 7]. I have no idea how the sessions were calculated but it was roughly 100/- by the time I was done. I never used the service again.

James Mwangi said Equitel will not charge per USSD session during one of his presentations.


All charges by Safaricom? Not true!

It showed up on my bank statement not safaricom bill. I called the bank and asked about the charges. They said these were USSD charges. Perhaps they added a premium per message/USSD enquiry? Then I just stopped using the service. End of story.

And that's why I appreciate that Equitel clearly said there will be no USSD charges. http://www.financialtech...oney-transfer-services/[/quote]

Your banker simply lied .

When has safaricom ever given any service for free? I also heard James Mwangi complain many times about telecom charges on USSD and they absorb the cost
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