In the wake of the recent decision by the Central Bank of Nigeria (CBN) to revoke the banking license of Heritage Bank Plc, customers may understandably feel uncertain about the fate of their finances.
Such news can trigger concerns and questions about the safety of deposits and the continuity of banking services.
However, it’s essential to understand that regulatory authorities like the Nigeria Deposit Insurance Corporation (NDIC) have mechanisms in place to safeguard customers’ interests during such transitions.
Here’s what Heritage Bank customers need to know.
1. Your Money is Safe
Rest assured, your money is protected. The Nigeria Deposit Insurance Corporation (NDIC) ensures that your funds, up to a certain limit, are secure even if the bank shuts down.
2. Account Transfers
Expect your accounts to be transferred to another bank. You’ll receive a new account number, and your direct deposits and automatic payments will continue as usual.
3. Access to Funds
You can still access your money. ATM withdrawals, writing checks, and using your debit card will remain unaffected until further notice.
4. Stay Informed
Keep an eye out for updates from the bank and the NDIC. They’ll provide information on the transition process and any actions you need to take.
5. Don’t Hesitate to Ask
If you have any questions or concerns, don’t hesitate to reach out to the bank or the NDIC for assistance.