Key Updates You Don't Want to Miss!

Access all the amazing benefits of your Alternative Finance account Hello Liman, In line with the FIRS (Federal Inland Revenue Service) policy, we would like to inform you of an important update on foreign transactions. Effective from January 2024, a fee of ₦50 will be charged on cash inflows of ₦10,000 or more on transactions in foreign currencies. What do you need to know about the EMT levy? The Stamp Duties Act (as amended) introduced Electronic Money Transfer EMT Levy which applies to all types of account. The levy is a charge of ₦50 on all electronic receipts of money in the sum of ₦10,000 and above. For transactions in foreign currencies, the levy will now be charged on every deposit of ₦10,000 and above in foreign currencies, based on exchange rates determined by the Central Bank of Nigeria (CBN) Here’s how the above applies to your account(s): The levy has since been implemented for electronic receipts of money to all naira Accounts after the enabling law was enacted in 2020. The levy also applies to electronic receipts of money to all Domiciliary Accounts. For any questions or concerns, kindly reach out to us on 01-7000555 or send a mail at help@altbank.ng. Thank you for your continued partnership. Your Partner,  the alternative bank 01-7000555 help@altbank.ng www.altbank.ng Disclaimer:   Be cautious of fraudulent calls, emails and SMS asking for your account details. the alternative bank will NEVER call or text you to request for your full account details, CVV, card PIN or your full card details. Thank you.

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