Yesterday I bought alot of bags of water from a truck road side guy and did a transfer to him which he checked and acknowledged .
I drove off with my car only to get an alert that the money bounced back.

I had to make a u turn to meet up with the guy that I bought the water from and told him the money bounced back and we had to go to the nearest POS centre to withdraw cash for the payment.

I gave him my complementary card and left.
The water seller guy called me this morning and thanked me for my magnanimity and told me he had another loss yesterday and it would have been catastrophic if he had lost mine too.
It still baffles me that in the year 2024 ,transfer transactions are bouncing back and I do wonder if such occurrence happen abroad?

He checked and confirmed? How? On your phone or on his own phone?

The transaction will not automatically reverse if he confirmed it on his own phone. If the confirmation was on your own phone, the money could automatically bounce back based on atomicity principles.

If you ever get an automatic reversal (credit alert) for your successful payment (that is if the recipient's account has been credited with the money you sent), the automatic reversal you get will not debit the recipient's account. The bank is the one losing the money you got in the reversal. And in this case, the bank may later debit you to recover the money.

RenaissanceGuy:
Not true. A man once narrated how he sent money to his younger brother and the brother called him saying the money was too small and doesn't warrant him thanking him. Few minutes later or so, the transaction reversed .

This cannot happen automatically. Someone initiated the reversal. Your claim is like saying a delivered mail automatically reversed. It is even a crime against the recipient. You can sue the bank.

immortalcrown:
He checked and confirmed? How? On your phone or on his own phone?

On my phone as his boss receives the alert

guobe:

On my phone as his boss receives the alert

His boss received alert for the payment you made?

immortalcrown:
His boss received alert for the payment you made?

Any payment made is received by his boss.
All he does is to check the debit alert of the customer .

guobe:

Any payment made is received by his boss.
All he does is to check the debit alert of the customer .

Did the boss say he or she got an alert for your payment?

Nigerians in diaspora.
Over to you!

immortalcrown:
Did the boss say he or she got an alert for your payment?

The boss is not with him.

immortalcrown:
He checked and confirmed? How? On your phone or on his own phone?

The transaction will not reverse if he confirmed it on his own phone. If the confirmation was on your own phone, the money could bounce back based on atomicity principles.

Not true. A man once narrated how he sent money to his younger brother and the brother called him saying the money was too small and doesn't warrant him thanking him. Few minutes later or so, the transaction reversed .

NPFLADMIN:
Nigerians in diaspora.

Over to you!

The transaction transfer glitch these days no be here.

guobe:

The boss is not with him.

That's the point. The money you sent never went through.

If the recipient's account is credited with the money, the transaction will not fail (bounce back) even if the sender's account is yet to be debited, unless the reversal is manually initiated.

But if the sender's account is debited and the recipient's account is not yet credited, the transaction can bounce back.

RenaissanceGuy:
Not true. A man once narrated how he sent money to his younger brother and the brother called him saying the money was too small and doesn't warrant him thanking him. Few minutes later or so, the transaction reversed .

This cannot happen automatically. Someone initiated the reversal. Your claim is like saying a delivered mail automatically reversed.

guobe:

The boss is not with him.

So nobody confirmed that the money entered his account.

It is normal for a reversal to happen after you sent money and the money did not reach the destination.

immortalcrown:
That's the point. The money you sent never went through.

If the recipient's account is credited with the money, the transaction will not fail (bounce back) even if the sender's account is yet to be debited, unless the reversal is manually initiated.

But if the sender's account is debited but the recipient's account is not yet credited, the transaction can bounce back.

Okay but it is still wrong for any form of bounce back when transacting.

RenaissanceGuy:
Not true. A man once narrated how he sent money to his younger brother and the brother called him saying the money was too small and doesn't warrant him thanking him. Few minutes later or so, the transaction reversed .

For real lol.

RenaissanceGuy:
Not true. A man once narrated how he sent money to his younger brother and the brother called him saying the money was too small and doesn't warrant him thanking him. Few minutes later or so, the transaction reversed .

If this story of yours is not fiction, then it was the younger brother that made a report to the bank for reversal.

detopea1:

So nobody confirmed that the money entered his account.

It is normal for a reversal to happen after you sent money and the money did not reach the destination.

Maybe only in Nigeria that such occurs.
A debit alert is a debit alert.
Why then reversing few minutes later.

guobe:

Okay but it is still wrong for any form of bounce back when transacting.

Yes. But there is no perfection anywhere. Bank transaction failure rate is higher in some African countries because of the standard of internet facilities in Africa. But Africa is not the only place where bank transactions fail.

There is something called atomicity in banking system architecture. So, transaction failure is not peculiar to Africa.

Na so I buy bread from a popular supermarket during the cash scarcity period last year. Their POS debited me twice for the purchase of the bread. I didn't notice till after three weeks. Was going through my transactions on my bank app where I was trying to check a particular failed transaction. and noticed I was debited twice for the bread. I didn't go to the supermarket to complain because they'll tell me to report to my bank. Na so I report to my bank. After 24hrs, I was refunded the two payments I made for the bread.
Na so I chop free bread . God forgive me.

guobe:

Maybe only in Nigeria that such occurs.
A debit alert is a debit alert.
Why then reversing few minutes later.

A debit can automatically reverse if the intended recipient is not credited. But a credit cannot automatically reverse.

guobe:

Okay but it is still wrong for any form of bounce back when transacting.

It is not wrong.

Transaction should be fully acknowledged by the receiver.

Bank reversal is universal. Even an email can bounce back if the receipient's host server is down.

Beremx:
Na so I buy bread from a popular supermarket during the cash scarcity period last year. Their POS debited me twice for the purchase of the bread. I didn't notice till after three weeks. Was going through my transactions on my bank app where I was trying to check a particular failed transaction. and noticed I was debited twice for the bread. I didn't go to the supermarket to complain because they'll tell me to report to my bank. Na so I report to my bank. After 24hrs, I was refunded the two payments I made for the bread.
Na so I chop free bread . God forgive me.

Yes. You got the refund because your account did not credit the amount to the supermarket's account.

immortalcrown:
Yes. But there is no perfection anywhere. Bank transaction failure rate is higher in some African countries because of the standard of internet facilities in Africa. But Africa is not the only place where bank transactions fail.

There is something called atomicity in banking system architecture. So, transaction failure is not peculiar to Africa.

Africa has got a long way to go as they are lagging behind in all aspects .
In developed countries, the banks can be sued for such occurrence

detopea1:

If this story of yours is not fiction, then it was the younger brother that made a report to the bank for reversal.

Within a few minutes?? Not days or even hours but just a few minutes after??

immortalcrown:
Yes. You got the refund because your account did not credit the amount to the supermarket's account.

really? Nonsense really happened during the cash scarcity. Too many stories of failed transactions.

immortalcrown:
This cannot happen automatically. Someone initiated the reversal.

Screenshot and show me how you can do that using any of the bank apps on your phone.

RenaissanceGuy:
Screenshot and show me how you can do that using any of the bank apps on your phone.

You must not be the one to initiate it manually. The point is that a transaction that credited a recipient account cannot automatically reverse.

guobe:
The transaction transfer glitch these days no be here.

Those banks are something else!
If we could rate them, none of them go reach 4 star rating.
Even 3 stars go scarce.

guobe:

Maybe only in Nigeria that such occurs.
A debit alert is a debit alert.
Why then reversing few minutes later.

You still missed the most important point in this topic.
Always check your balance or credit history on the bank's app to be sure a payment sent to you really entered your bank account. Anyone that doesn't know this should only do business with cash.

The water vendor is naive to use your own debit alert as a proof.

guobe:

Africa has got a long way to go as they are lagging behind in all aspects .
In developed countries, the banks can be sued for such occurrence

And who says you cannot also sue the banks here in Nigeria??

immortalcrown:
You must not be the one to initiate it manually. The point is that a transaction that credited a recipient account cannot automatically reverse.

But your earlier statement said the brother must have been the one who initiated it.

RenaissanceGuy:
And who says you cannot also sue the banks here in Nigeria??

The case won't go anywhere