The Central Bank of Nigeria (CBN), in its determination to further enhance service quality, particularly quick refunds when customers experience failed transactions, dispense errors or disputes has revised timelines for reversals and/or the resolution of refund complaints on electronic channels, with effect from June 8, 2020, as follows.

1. Failed “On-Us” ATM transactions (when customers use their cards on their bank’s ATMs) shall be instantly reversed from the current timeline of three (3) days. Where instant reversal fails due to any technical issue or system glitch, the timeline for manual reversal shall not exceed 24 hours.

2. Refunds for failed “Not-on-Us” ATM transactions (where customers use their cards on other banks’ ATMs) shall not exceed 48 hours from the current 3-5 days.

3. Resolution of disputed/failed PoS or Web transactions shall be concluded within 72 hours from the current five (5) days.

4. All banks are directed to resolve the backlog of all ATM, POS and Web customer refunds within two weeks starting June 8, 2020

Meanwhile, key service providers in the Nigerian payments system have also committed to establish an integrated dispute resolution platform for the industry and enhance their payment system infrastructure and processes to reduce incidences of transaction failure.

Members of the public are therefore requested to refer to the updated Guidelines for the Operation of Electronic Payment Channels on the Bank’s website (www.cbn.gov.ng) for further details.

SOURCE: https://brandspurng.com/2020/06/01/cbn-revises-timelines-for-dispense-errors-refund-complaints/

Audio.

When are they going to revise the maintenance bill banks deduct from our accounts. How can we be paying for maintenance of something in our possession to banks after paying #1050 to own it? Im not understanding o.

Audio wen one bnk is stil hanging my moni

I get war to fight with Polaris



For illegal deduction

Its a confirm Audio policy.

Banking System In Nigeria Is

Issoryt...let's wait and see how it goes

that's a good one issues need to be resolved promptly

I've never seen someone who lies more than a pregnant woman, she will be like: *sweetheart ur baby want to eat chicken and drink small Stout� ���*

meanwhile check MA SIG



kudos to CBN... long overdue.

Arrrghh!! This is great, our naija banks they like use this kyn situation disrespeCkt customers like say na their mOney

Na people wey get money for bank that one concern

I did transfer of 90 last two weeks Sunday till today access bank has been forming we don't care on the matter the person that suppose to get this money has been , calling and disturbing abeg is there a way to report a bank about his kind issue

What of when a bank donated a billion naira to the fed and try to use their customers to cover up through illegal deduction?

Meanwhile


in Nigeria, 1km = 1000m (truth)

3days = 3 months for banks

AgentNairaland:
Banking System In Nigeria Is

A huge scam

Slow and steady our darling nation is getting there .

This is unprecedented in the 60 years of our country.

We are in safe hands.

God bless Nigeria.

Why is our country like this
something happens in US and here in our country they are even protesting and a lady was rape and killed inside a church and no one said anything about it
no protest
nothing
who do we offend in our country
must we always follow the white like a slave

Zenith bank just cleared all the money in my account this morning.

Ravon:
The Central Bank of Nigeria (CBN), in its determination to further enhance service quality, particularly quick refunds when customers experience failed transactions, dispense errors or disputes has revised timelines for reversals and/or the resolution of refund complaints on electronic channels, with effect from June 8, 2020, as follows.

1. Failed “On-Us” ATM transactions (when customers use their cards on their bank’s ATMs) shall be instantly reversed from the current timeline of three (3) days. Where instant reversal fails due to any technical issue or system glitch, the timeline for manual reversal shall not exceed 24 hours.

2. Refunds for failed “Not-on-Us” ATM transactions (where customers use their cards on other banks’ ATMs) shall not exceed 48 hours from the current 3-5 days.

3. Resolution of disputed/failed PoS or Web transactions shall be concluded within 72 hours from the current five (5) days.

4. All banks are directed to resolve the backlog of all ATM, POS and Web customer refunds within two weeks starting June 8, 2020

Meanwhile, key service providers in the Nigerian payments system have also committed to establish an integrated dispute resolution platform for the industry and enhance their payment system infrastructure and processes to reduce incidences of transaction failure.

Members of the public are therefore requested to refer to the updated Guidelines for the Operation of Electronic Payment Channels on the Bank’s website (www.cbn.gov.ng) for further details.

SOURCE: https://brandspurng.com/2020/06/01/cbn-revises-timelines-for-dispense-errors-refund-complaints/

If I hear

I thought as much

They sha won't wreck us


Meanwhile we bring solar installations closer to you .....In any part of Nigeria

Whatsapp me for more details

O 7 0 8 9 9 6 2470

mehn I don suffer for all these bank atm during this lockdown o, to enter bank to fill form for failed transactions na another war with all the crowd for gate. I've resorted to using those pos agents in my area to withdraw even with the fee of 200 and above but at least I go get my money instant

Pls wat does it mean?
When is cbn saying they will share us the money

They should caution Gtbank is making life difficult for their customers

silento:
I did transfer of 90 last two weeks Sunday till today access bank has been forming we don't care on the matter the person that suppose to get this money has been , calling and disturbing abeg is there a way to report a bank about his kind issue

Yes

It's not all about been negative all the time. I could remember last month I had an despense error with Uba Atm, I used GTb card, no need for me to go to the bank. Everything was done online within 6working days and the money reversed.

UBA in trouble

CBN should solve the problems first.

Not just about throwing regulations in place up and down.

Those banks will ignore this. Gtbank have siezed my cash for the past three weeks just because I use first bank ATM. I don't know if it's now an offense to use another bank ATM during lockdown pandemic.