Over the years, I’ve gotten very comfortable with making mobile transfers, using apps, and also making use of USSD when it comes to making transactions. Before all this, I was a cash person, I just preferred to withdraw cash and use it to run my business, buying the things that I wanted. However, after the cash crunch of 2023, and the cost of withdrawing money continued to rise, I had to consider a shift in plans.
I began to pay for most of my stuff either by transfer or by card. I started having fewer reasons to carry cash around and I liked it. Thanks to working remotely, I don’t really go out much, but when I do go, it really helps me. I only need to worry about the cash I’d have to pay for transport. But if I get to use Uber or Bolt transport service, I make sure I pay via transfer, and if I use the BRT system, I pay with their cards.
This is a system that I’ve gotten very comfortable with and I like it. It reduces the amount of cash that I carry around and I also don’t have to spend so much on withdrawal fees. Although, I still need to have some cash lying around, it’s always little because, at this point, almost all the shops in my area are accepting transfers. Shopping has been made so easy that you can even pay for something as little as N150 via mobile transfer. That’s about 0.1 HBD.
Anyway, like I already mentioned, it’s a system that I’ve gotten comfortable with. However, it also has its own issues, and the chief of that is the network. It could be a network from the service providers, or from the bank itself. Either way, it can be a big pain in the butt. There’s nothing quite as frustrating as transferring money to someone while you’re in a pinch and they not receiving it. It’s always frustrating, especially when you’ve been debited.
Although nothing really happens to the money and it always comes back into your account, it can make for very awkward conversations because many people will refuse to believe that you’ve sent money and the network is delaying it, they’ll instead be quick to believe that you’ve scammed them and are trying to steal from them.
Other times, you might not have that issue, it might never go that far. It could just be like my case where I sent money last week but it never went through even though I was debited. The money was stuck in limbo for days and I couldn’t access it, rendering me broke to the point that I had to ask my sister for financial assistance. Every morning, I refreshed my bank app to check if the money had been bounced back and every morning, it showed negative.
Just yesterday though, the money finally returned to its rightful place. And it was with a breath of relief. This is something that many of us are used to because it has happened to us at one time or the other. However, I’m glad that it was resolved without me having to go to the bank or anything. This is the only issue that ever really arises with mobile transfers, be it USSD or app.
But still, no one can deny how convenient it is.
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Thank you for this.
The person that supposed to receive the money didn't disturb you? Omo...one woman I transferred 17k in my street shopping beverage in her shop almost ate me raw when network disappointed as usual. She insisted I must look for money and pay her immediately and she doesn't care when my bank will refund me...no be small thing oo
I didn't have extra fiat and I didn't pay her back until I received a refund after 3 days 🤦
I apologized to her anyways but it wasn't directly my fault
Actually, it was actually a friend's account and the person was close by. So, I didn't really have any issues on that end. Except the fact that while it was in limbo, neither he nor me could touch the money.
I actually read about these new mobile transfers in sub-Saharan Africa, well maybe it's not Sub-Saharan Africa and I messed up my geography. But I did see these mobile transfers getting more and more traction and that it was actually making the lives easier for many people out there. And cash transactions are on their way down. Great to see someone actually doing it up close.
Omo... it's now more prominent, nobody has the time to go to the bank for cash withdrawals anymore. Even if you have the time, bank staff won't answer you. They'll send you to their ATM machines, and many times, they don't work. It's just stressful, believe me.
I kinda feel it. We have mobile transfers in my country too. Except it's still used in relatively lower transactions.
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