The SkyE Is My Limit!

There is a saying where I hail from,

S/he Who Has Not Tried Two Marriages Would Not Know What S/he Is Enjoying In The Present One’

I opened a Skye Bank account years ago for a specific purpose, which was no longer necessary. Therefore, the account was just there without any transactions for a long time.

Eventually, I decided to start using it again. A mistake, as we shall see!

First, I attempted to get a new Debit Card. Fill form, etc, etc. In some other banks (like ALAT by WEMA) requesting for a new ATM card is a matter of opening up the Bank Application and making that request. But not Skye Bank.

After the filling up their form, I have not heard anything from them, and have not bothered to go there again to promote them. There was a customer there who was complaining that his request for an ATM card had not been attended to in two weeks.

ALAT by WEMA does this in 48 hours flat, and delivers to your location. I lost my ATM card and requested a new one, so I know.

I told myself, with the Skye Bank App, I can, at least, transfer funds to pay people, or for services. I was even able to topup my phone with their app.

I didn’t know I was setting myself up for headaches.

So recently, for convenience, someone who uses Skye as her salary account paid into this Skye Bank account.

Then, I tried to initiate a transaction, and got a strange error message saying ‘my transaction limit has been exceeded.’

Knowing the Skye Bank penchant for slow response., I reached out to them by Email, Facebook direct message and Twitter. That way, I would be sure of a response

Here is the message I sent,


I was trying to transfer some funds from my Skye Account to another bank account.

My account details:

SkyE Bank
Ibukun Olaoya

I got an error message about a transaction limit.. The transaction did not go through..

What’s is the meaning of this, and can you please resolve?

Thank you very much!

There was no response from them on twitter. However, the email sent elicited the following response:

Dear Ibukun Olaoya,

Thank you for contacting Skye Bank Plc.

Following your mail below with respect to the error message encountered while attempting to initiate transaction via the SkyeMobile application, we do apologize for any inconvenience you may have experienced.

We however wish to inform you that the challenge could be as a result of a temporary network glitch on the platform and advise that you kindly initiate your desired transaction at a later time.

We re-affirm our commitment to providing excellent customer service.

For more enquiries, request or complaints on any of our products and services, please visit our website, write or call the phone numbers below.

Kind Regards,


I thought this was total nonsense, and my thoughts were corroborated by their very different response to my Facebook Direct Message to them, thus,

Dear Ibukun Olaoya,
Thank you for contacting Skye Bank plc.
The Skyemobile application by default is programmed to transfer the sum of N=1,000 only.

However, you may increase this limit to N=500,000 by filling the data capture form at any of our branches.

We re-affirm our commitment to providing excellent customer service.

Clearly, Olamide doesn’t know what he was talking about, up there!

Now, for heavens sake, WHY would a bank limit the amount their app can transact to ONE THOUSAND NAIRA as default, and expect you to keep filling forms for basic things? Fill form to request an ATM, fill form to increase transaction limit, who has that time?

The same kind of general incompetence had been demonstrated in the past, with a housing scheme being floated by the same bank, while their office staff in Ozumba Mbadiwe, Victoria Island, Lagos had no idea of the scheme (even the Branch Manager was oblivious)!

Now also examine the response to basic request for information via Twitter, next:

@SkyeBankNigeria Hello. I would like to know what your interest rate on savings account is…

I got the response,

@Eye_Bee_Kay Hi, please call our YES Center on 08069880000 for more information. Thank you

I wanted to know why I couldn’t be furnished the information directly.

@SkyeBankNigeria This is disappointing. What’s the essence of this Twitter handle if you can’t answer a question as basic as this?

Why don’t YOU call that number to find out, then get back to me?

A competing bank gave me this answer within ten minutes of my asking, on this same Twitter!

And the tepid answer was,

@Eye_Bee_Kay Hello do note that such sensitive information is not made available to customer’s via this platform for regulatory reasons.

What regulatory reason?

This makes absolutely no sense as the direct messaging facility of Twitter is not exposed to third parties. Besides, what’s sensitive about the interest rate a bank pays on deposits? Is this not supposed to be for public consumption.

Now contrast this unsatisfactory response with the speedy straightforward response on the same enquiry by ALAT by WEMA,

Hello please…

You pay 10% interest on your dedicated savings plan.

What interest does the normal account earn? Is the interest computed daily (based on the balance for the day).. and then capitalized at month end.?

Here is the answer, within ten minutes of enquiry,

The interest on the normal account balance is 4.2% per annum. Interest is given per month provided there are no more than 2 withdrawals per month.

On the same Twitter that Skye Bank claims they can’t disclose basic information on.

A bank like GTBank has no minimum balance . You can withdraw your money to the last kobo. Skye has a minimum balance of ₦ 2,000.

SkyE Bank needs to overhaul their operations and make life easier for their customers.

My attempt to start active banking with them has been totally discouraging, and I am certainly stopping using their bank until things improve.

This is not how modern banking should be. We have an online bank like ALAT by WEMA to benchmark other banks on, in efficiency, responsiveness and service delivery.

With The Management Overhaul A While Back On The Back Of Gross Financial Mismanagement of this bank, one would think lots of things have been straightened out in tandem with modern banking practices, but apparently not.

This SkyE has truly reached the limit of my perseverance!

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