Access Bank to reverse Feb-April stamp duty deductions

Access Bank has offered to pay stamp duty charge for February to April on behalf of its customers.

It also said deductions made between Saturday and Sunday would be reversed to customers.

In a statement on Sunday, the bank said it recognised that it is a tough period for customers.

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The bank’s customers had complained on various social media platforms on Saturday and Sunday over stamp duty deductions.

“We have considered your feedback and have decided to pay the stamp duty on our customers behalf for the affected period only,” the bank said in a statement.

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“This means that individuals and SMEs who were debited for the accumulated stamp duty charge for February to April 2020 will be refunded.”

In an earlier statement, the bank had notified customers that it did not deduct stamp duty charges on transactions that occurred between February 1, 2020, and April 30, 2020.

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