POS Agents and Nigerian Banks

[Stuart]

What do you feel between the POS Agents rendering cash services to the masses of the country and the Banks that has been almost as old as the country giving out the money (or will I say, selling the money to these POS Agents). The country has gone so bad to the point of selling our own money to us, both the banks and these POS Agents are making money with our own money.
I feel this is a planned system of taking more money out of the people of the country, with a disguise of rendering services.

Digital/Crypto currencies as forms of investments/trading, which we have found ourselves here into, at the end of the day, when necessity demands, the need for cash to carryout daily activities is required, and we end up with these two.

Do you think the banks brough this POS as a means of generating more money from the mass or a means of rendering better services?

I would like to hear your take on this.

[Cantsay]

Well, from what I know the banks are not stopping people from using the ATM terminal to make withdrawals - it’s just that we don’t have enough terminals to help reduce the queue and thus the reason why you see people patronizing those POS.

And just like every other busy that doesn’t need much expertise to start doing people saw the potential in it and delve right into it, I don’t know if the initial intention of the banks was to milk money off of people by providing this machine but I know people are actually making money from it and it’s also reducing the stress of having to wait in line at banks ATM terminals to make withdrawals.

[Nheer]

What do you feel between the POS Agents rendering cash services to the masses of the country and the Banks that has been almost as old as the country giving out the money (or will I say, selling the money to these POS Agents). The country has gone so bad to the point of selling our own money to us, both the banks and these POS Agents are making money with our own money.
I feel this is a planned system of taking more money out of the people of the country, with a disguise of rendering services.

Digital/Crypto currencies as forms of investments/trading, which we have found ourselves here into, at the end of the day, when necessity demands, the need for cash to carryout daily activities is required, and we end up with these two.

Do you think the banks brough this POS as a means of generating more money from the mass or a means of rendering better services?

I would like to hear your take on this.

I don’t think the banks are selling money for the citizens cause they never for once said that the ATM machine won’t bring out cash the POS is just an optional means to get money more faster and quick than bank cause sometimes the queue at bank is something else most especially during month end cause many do receive their monthly allowance. So the POS is optional is either you choose to use them or go to the bank where you can take money without paying any extra cash for paying so it left for him or her to make a choice.
  But for real the POS agent are making money but it cause of the economic that even brought about the machine so I don’t blame them after all a man need to survive it better than stealing or fraud. But nowadays they use the pos machine as an act of fraud and scam someone I have been a victim my advise is just make the use of the atm machine so you won’t witness any Discomfort so be safe out there. Stay safe.

[SmartGold01]

This is a results of corrupted system otherwise this wouldn't have be happening in the country, of course we buy our money from PoS operators because the banks has failed to delivers us completely since most people aren't that patient enough queue and wait for them withdraw their money on banks. Though with the rising demand of PoS across the country it is assumed that it is a connived something that they has to team up to make sure they extort the poor masses from their hand earn money.

[Stuart]

What do you feel between the POS Agents rendering cash services to the masses of the country and the Banks that has been almost as old as the country giving out the money (or will I say, selling the money to these POS Agents). The country has gone so bad to the point of selling our own money to us, both the banks and these POS Agents are making money with our own money.
I feel this is a planned system of taking more money out of the people of the country, with a disguise of rendering services.

Digital/Crypto currencies as forms of investments/trading, which we have found ourselves here into, at the end of the day, when necessity demands, the need for cash to carryout daily activities is required, and we end up with these two.

Do you think the banks brough this POS as a means of generating more money from the mass or a means of rendering better services?

I would like to hear your take on this.

I don’t think the banks are selling money for the citizens cause they never for once said that the ATM machine won’t bring out cash the POS is just an optional means to get money more faster and quick than bank cause sometimes the queue at bank is something else most especially during month end cause many do receive their monthly allowance. So the POS is optional is either you choose to use them or go to the bank where you can take money without paying any extra cash for paying so it left for him or her to make a choice.
  But for real the POS agent are making money but it cause of the economic that even brought about the machine so I don’t blame them after all a man need to survive it better than stealing or fraud. But nowadays they use the pos machine as an act of fraud and scam someone I have been a victim my advise is just make the use of the atm machine so you won’t witness any Discomfort so be safe out there. Stay safe.

Well, the banks won't openly say so, but will like to enquire from you by experience, have you for ones gone to the bank and you want to make withdrawals and you're being told the certain amount that can be dispensed to you, that there is not enough cash available? This issue started during the cashless period we experienced in the country, and which is still on till date in banks. As for the ATM machines, it is only loaded with cash in the morning hours, and at that time, it will be crowded with people, and when the cash is emptied, reloading it up again becomes another problem.

I am not against the POS agents rendering their services, because it was through them, we could get cash during the cashless period, which through them, on several POS points they will say they buy money in the banks to get cash for their work.

[Cantsay]

Well, the banks won't openly say so, but will like to enquire from you by experience, have you for ones gone to the bank and you want to make withdrawals and you're being told the certain amount that can be dispensed to you, that there is not enough cash available? This issue started during the cashless period we experienced in the country, and which is still on till date in banks. As for the ATM machines, it is only loaded with cash in the morning hours, and at that time, it will be crowded with people, and when the cash is emptied, reloading it up again becomes another problem.

I am not against the POS agents rendering their services, because it was through them, we could get cash during the cashless period, which through them, on several POS points they will say they buy money in the banks to get cash for their work.

Well, I can’t deny that I have never experienced this issue of not enough cash in the bank before or having to go to an ATM terminal only to discover that it wasn’t loaded and not dispensing cash.

A friend of mine once told me that this POS business has brought about cash shortages in banks because it was this money that those bankers issued to those requesting for withdrawals but now that there are POS everywhere and those who usually go to bank to deposit no longer go there instead they will take the money to their POS business especially those who are wealthy and have several POS stands at different locations.