Beautiful morning great steemians!

Do you know what kind of savings account you have???

Almost each and everyone of us that have a bank account operates using a savings account because a savings account is virtually the very first account you would open, once you are up to 18, then you can open your personal account without your parents as signatory.

Hmmmmmmmm, i actually decided to share a bit of this aspect of my experience because i once had an ugly encounter and wouldn't also want some persons to go through same.

Am not an art/financial inclined person but then it's always good to know a little of every thing, just like the saying goes, no knowledge is a waste,hopefully you can use your knowledge to educate others thereby adding value to them.

WHAT ACTUALLY BROUGHT ABOUT THIS??

Three days ago I was supposed to place an order for an awesome client of mine @uche-nna,i knew the account I was operating with so when he wanted to send the cash for the transaction I gave him another bank details which wasn't mine to send the money to.

Now since the year began, i have been using my NYSC account for all my transactions reason being that my other ATM cards expired and i felt reluctant to renew them since I had a new account I could channel all funds to.

So when he made the first transfer for the maximum that could go at once, he tried completing it and the funds couldn't
be transferred again till the next day because he had exceeded the limit for the day.

Savings accounts actually have different modes of operation depending on your level and the bank too.

Some banks actually have more attractive packages but then it's all to attract customers and also serve them better.

MY EXPERIENCE

I studied in the University of Uyo,Uyo Akwaibom (am always super proud of saying this,hahahaha), that's on a lighter note sha.

So back then i stayed in a hostel that had two banks close to it, before school I was banking with First bank, and that account gave me plenty issues as I wasn't the signatory to it, so it always frustrated me as I would need to travel back to my state for any issue that arises to rectify at the branch I opened it and if ever the signatory to the account was needed, mum had to be there.

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I hope you could feel my plight then, it was never funny, up till today, i don't like using my ears to hear first bank, no no! No matter the special package, i really got it from them then.

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So I decided to open an account keystone bank which was just a stone throw from my hostel so that if ever I have any issue, i would just trek down there and sort it, that was how i finally opened another account that was my signatory.

It was an easy one then as there were no protocols and just with my school ID card, it was done.

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But then i never knew that the account had some restrictions till 2017.

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Funny enough it was all about PONZI SCHEME again, have you read my experience on ponzi scheme, if not click HERE,I don't know why it's just me.

When get-help came out, my sister inlaw had a boyfriend then in abroad who was into it and she was then one managing the accounts for him while his work was just to make the funds available.

They opted to using different accounts to register to enable them get more profit and that was how i was contacted for my account to be used.

1.2million was invested in my account which yielded over 2million.

When it was time for me transfer the money back to her to be used for another transaction because everything gotten then was also to be re-invested i went to the bank and filled a transfer form because she had provided help already and the person was expecting the money.

The banker told me that i couldn't transfer such amount out from the account, and as things were I couldn't even remove the least amount from that account and nothing can be done about it unless the account was upgraded.

I asked why, he said it's because the account was opened as a student account and then it shouldn't even have more than 300k in it.

And the only way forward was for me to go and bring a valid identity card for the account to be upgraded to a normal savings account.

I didn't have a permanent voters card, so it wasn't even an option, i left to NIMC office for a national ID card, it wasn't a difficult process but my details couldn't be processed, the guy said my thumb print was detected that it may be because i have registered before and if that is so i cudnt register again.

Personally i was sure i haven't done that before so i insisted on it and he said I should check back in two days time, i took his contact and left.

After two days i called yet nothing positive, we thought of driver's license but then it wasn't going to be ready as urgently as we needed it.

After a week i went back to the bank and asked them to close the account and give me the funds, the guy told me to write to the branch in Uyo which was where I opened account asking them to instruct them to close the account.

I did as he said but the manager in Uyo branch refused, reason being that i may have been involved in some sort of fraud as it was expected that a student shouldn't be in possession of such amount of funds so they needed a legit identity.

I told the banker about my issue with the NIMC ID and he said that even if it's ready that i couldn't use it as it was going to be a temporary ID which anyone can create that the only solution was a permanent ID.

I had none and then the only quickest one i could get was an international passport, so i had to go for it in order for the funds to be released.

I went to immigration office and opted for an urgent ID which was an additional 5k as it was something I wanted that asap, everything was processed and I was told to check back the next day.

That was how i finally got the ID, went straight to the bank, my account was upgraded after filling some forms and then the money released.

It wasn't funny then sha, but i was happy i was able to push through it.

So now, do you know the kind of savings account you have, like I said earlier some have limitations, you may not be able to withdraw or keep up to 300k and above, depending on the bank though.

Some savings accounts are just for temporal purposes and you may have a daily limit transactions to be made on them,you may not be told just like mine.

But then it's only wise you find out because you may never know the day that luck will shine on you☺☺, find out so you would never get stucked in your transactions especially receiving huge funds for an urgent transaction and you just get to hear that the money cannot be withdrawn!

I still remain @cherylsonty

Keep steeming!