How To Stop Deduction of Stamp duty From Your Bank

 The stamp duty charge is a directive from CBN effective from February 01, 2020, which states that all deposits of N10,000 and above are subject to a charge of N50. This means if you have an inflow of multiple N10,000, you will get charged N50 for each. If you however have an inflow of, say, N50,000, you are charged only N50.

These funds are not held with the bank and are remitted to the CBN immediately.

       HOW TO STOP IT.
Do you know opay don't charge any fee for transferring of money no matter how much it is.
Follow this steps for opay and transfer for free.

(1) DOWNLOAD APP AND REGISTER

(2) Upgrade your KYC.

(3) Your Phone Number is Your Account number.

(4) Tell your customers to transfer money to your opay account with that phone number you used to open it.

(5) You can receive money through bank app,USSD code and you can also transact from opay user to another user using your phone number.

(6) Once you received from N10,000 to your opay account then transfer N5000 to your bank account for free, example: you received N100,000 from your customers in a day then to avoid been stamp duty transfer N5000 each to your bank account till the N100,000 finished and your bank will never charge you for stamp duty.

Instead of losing N500 for receiving 10k X 10 then follow the instructions above and save your N50.

There are other benefits on opay like airtime and Data discount,DStv subscription discount and getting interest daily for keeping your money on opay.

Thanks for reading.
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