Business
Cybersecurity: know your charges on the amount you pay
According to StatiSense, Here is the real cost of transferring N10,000
SENDER: Cybersecurity levy: ₦50
Transfer fee: ₦25 7.5%
VAT fee: ₦1.88
SMS Notification: ₦4
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Total cost to Sender: ₦80.88
RECEIVER:
Stamp duty (EMTL): ₦50
SMS Notification: ₦4
Total cost to Receiver: ₦54
TOTAL COST: ₦134.88
Sender: ₦80.88
Receiver: ₦54
Both parties will pay.
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