External Review Committee on Debt

External Review Committee on Debt
Intercontinental Bank Plc
Attention Beneficiary:
We wish to inform you that you have been scheduled to be paid $2,500.000.00 ($2.5m) through our Automated Teller Machine Card (ATM Card) which will only require you to proceed to any ATM Cash Point in your city to withdraw the sum of $700 per day till the payment is completed.
This development is as a result of a just concluded yearly program where 5 individuals get cash benefits from our bank. These 5 beneficiaries are selected randomly through personal websites, account holders etc. Being an international bank, we endeavor to make this opportunity available to everyone, no matter the location.
We use courier service compnay for all our international shipments, and to enable this take place you are required to pay the sum of $200 shipping fees. These are FedEx charges and not for the bank, we only help to receive these funds on their behalf and will immediately authorize the courier company to ship your ATM card once payments are confirmed.
We are sorry as we cannot deduct from your funds to pay for the
Shipping/Transfer charges. This is in accordance with section 13(1-2) of the new payment policy Act as adopted in 1993 and amended on 3rd July 2004 by the external review committee on debt. This is to protect our clients and to avoid misappropriation of funds by officials.
Furthermore you are advised to contact me ASAP for the issuance of your ATM card When you contact me, kindly provide the below informations:
1. Full Name (As Stated in your ID)
2. Contact Address (Where your ATM card will be shipped to)
3. Valid telephone number
This information will be used to process your card before it's issued out to you. I will like to know if you still want me to proceed. I humbly await your instructions.
Mr Geofery kala
ATM Issuing Department
Intercontinental Bank Plc
Telephone +234 80559 55215

Is it a scam ?

Well, it's only in the demented minds of West African scammers that people are paid money by means of the issuance of ATM cards. This appears to be based on some bizzare mythological belief of theirs that ATM cards are a way to pay people money.

The whole proposition is based on fiction and doesn't make sense from beginning to end. It appears to be purporting that this is some serious recent (1993 ?) financial decision and relates to random massive gifts being made for no apparent reason by a Nigerian bank.

Go into a bar and tell your friends that if they pay money up front there is a Nigerianbank that will hand you an ATM card that will allow you to draw money indefinitely if you pay them a fee up front. Even if I started believing 'Alice in Wonderland', I'd still have difficulty believing this one.

It's an absolute low grade, poorly worked out scam. The fact that money is asked for in the first mail just shows that this scammer is lazy and impatient.

Yes, it's a scam.

Imagine how angry people would be to be paid by a device that makes them visit a bank every day for ten years. That's how long it would take to withdraw $2.5M at $700 per day.