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Stats: 2,138,294 members, 4,643,957 topics. Date: Monday, 17 December 2018 at 05:59 AM

Polaris Bank Network Failures And The Silence Of CBN - Business - Nairaland

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Polaris Bank Network Failures And The Silence Of CBN by blackmantis: 3:59pm On Dec 04
For many Nigerians it has become the norm to get to the banking hall and hear "there is no network now you can only deposit" message, many approach ATMs of other banks with great caution and anxiety not knowing if they will get the Issuer or switch Inoperative message, or worse still get debited but not paid and then have to go through the hassles of filling forms and waiting for days or weeks for the money to reverse. In fact some have marked some ATMs notorious for debiting without payment and would never approach them even if you held a knife to their neck.

We have conditioned our minds to take all of these blunders, inefficiency, unprofessional conduct of bank staff who speak to customers as they like as normal when that should not be case. Today I tried withdrawing money from my account using my atm card at 3 Banks after standing in a long line for several minutes got the same message, Issuer Or Switch Inoperative. I tried withdrawing from these mobile pos vendors and the story was still the same so I embarked on a long journey to the nearest branch of my Bank(Polaris Bank) to withdraw cash from the banking hall only to meet scores of dejected looking people sprawled both in and outside the bank premises. Some were sitting and a lady was lying on the bare floor, on inquiry I learnt that since yesterday morning (Monday December 3rd) there has been no network to withdraw cash.

I was taken aback when a staff of the bank casually said we should wait and that by 1pm today if the situation persists they would resort to plan B. Time they say is money. People on their way to work will have to wait hours due to no fault of theirs except that they patronized a Bank to keep their money. Well some of us waited till 1pm to see what the plan B was. At 1pm we were all called into the banking hall and we were addressed to put it kindly, in a most unprofessional way by a man probably the branch manager and a lady. They apologized for the network failure and said it was being worked on and tried to justified it by saying that some other banks are currently having the same problem too.

To our horror they then said that that will take a risk and pay only those who opened their account at that particular branch and that others like me whose account were opened at other branches of the same bank(Polaris Bank) should find our way to the branch were our account is domiciled as they will not attend to us. When other customers who had been at the bank since 8am protested they threatened to throw us all out. From their tone it was as if they were doing us a favor, paying us money that we gave to them to keep for us.

Well I really don't blame them, its the financial regulators, CBN in particular that I blame. Because if Small incidents of ATMs debiting you yet you don't get cash are taken seriously, if online transactions that you will be debited and the receiver will not get the money for days and without even an apology from the erring institutions are promptly penalized these institutions will not take its customers for a ride.

An elderly woman who had not had breakfast was there in the banking hall till 1pm if she collapses there when she has money in her account to take care of her needs who will be held responsible. A girl who was to travel to Bauchi from Abuja was stranded with no hope in sight. Many business men like me who wanted to get money to run around and do some work were grounded after spending productive hours on end at the banking hall and yet got no money.

Nigeria When will we get it right. I hope someone up there will read this and do something to make our financial institutions work like their counterparts in other climes. Else we would have no other option than to return to the dark days of keeping money under our beds and take the risk of moving cash physically.

May that never happen

BLACKMANTIS writing from Abuja

cc lalasticlala
cc seun

66 Likes 3 Shares

Re: Polaris Bank Network Failures And The Silence Of CBN by blackmantis: 4:22pm On Dec 04
Share you experience

1 Like 1 Share

Re: Polaris Bank Network Failures And The Silence Of CBN by yemobrown(m): 4:55pm On Dec 04
I have been having issues with this bank since on Saturday. All their platforms are not working. I intend visiting them tomorrow but your write up just helped me not to waste my precious time going to their office.

I will wait till Thursday to see the outcome.

Thanks.

15 Likes 1 Share

Re: Polaris Bank Network Failures And The Silence Of CBN by blackmantis: 5:13pm On Dec 04
Polaris Bank Message sent to customers today reads

"Please be assured that our technical teams are working hard to restore services
on affected platforms. We regret any inconveniences & commit to serve you better"

But as I type the problem is yet to be resolved

11 Likes 2 Shares

Re: Polaris Bank Network Failures And The Silence Of CBN by blackmantis: 5:38pm On Dec 04
Sad reactions of Polaris Bank customers on twitter

Re: Polaris Bank Network Failures And The Silence Of CBN by blackmantis: 5:48pm On Dec 04
more reactions

Re: Polaris Bank Network Failures And The Silence Of CBN by Segeshow: 6:11pm On Dec 04
Is the bank distressed and going under? NDIC should do the needful abeg. People who have genuine emergencies cannot get money. Sick people can't pay hospital bills and may die, yet you are hearing we regret any inconveniences. Will that bring back the dead? This bank needs to be taught a lesson.

11 Likes

Re: Polaris Bank Network Failures And The Silence Of CBN by blackmantis: 6:21pm On Dec 04
More

Re: Polaris Bank Network Failures And The Silence Of CBN by blackmantis: 6:29pm On Dec 04
blackmantis:
Polaris Bank Message sent to customers today reads

"Please be assured that our technical teams are working hard to restore services
on affected platforms. We regret any inconveniences & commit to serve you better"

But as I type the problem is yet to be resolved
cc Mynd44
lalasticlala
Re: Polaris Bank Network Failures And The Silence Of CBN by Olayinka777(m): 6:38pm On Dec 04
blackmantis:
For many Nigerians it has become the norm to get to the banking hall and hear "there is no network now you can only deposit" message, many approach ATMs of other banks with great caution and anxiety not knowing if they will get the Issuer or switch Inoperative message, or worse still get debited but not paid and then have to go through the hassles of filling forms and waiting for days or weeks for the money to reverse. In fact some have marked some ATMs notorious for debiting without payment and would never approach them even if you held a knife to their neck.

We have conditioned our minds to take all of these blunders, inefficiency, unprofessional conduct of bank staff who speak to customers as they like as normal when that should not be case. Today I tried withdrawing money from my account using my atm card at 3 Banks after standing in a long line for several minutes got the same message, Issuer Or Switch Inoperative. I tried withdrawing from these mobile pos vendors and the story was still the same so I embarked on a long journey to the nearest branch of my Bank(Polaris Bank) to withdraw cash from the banking hall only to meet scores of dejected looking people sprawled both in and outside the bank premises. Some were sitting and a lady was lying on the bare floor, on inquiry I learnt that since yesterday morning (Monday December 3rd) there has been no network to withdraw cash.

I was taken aback when a staff of the bank casually said we should wait and that by 1pm today if the situation persists they would resort to plan B. Time they say is money. People on their way to work will have to wait hours due to no fault of theirs except that they patronized a Bank to keep their money. Well some of us waited till 1pm to see what the plan B was. At 1pm we were all called into the banking hall and we were addressed to put it kindly, in a most unprofessional way by a man probably the branch manager and a lady. They apologized for the network failure and said it was being worked on and tried to justified it by saying that some other banks are currently having the same problem too.

To our horror they then said that that will take a risk and pay only those who opened their account at that particular branch and that others like me whose account were opened at other branches of the same bank(Polaris Bank) should find our way to the branch were our account is domiciled as they will not attend to us. When other customers who had been at the bank since 8am protested they threatened to throw us all out. From their tone it was as if they were doing us a favor, paying us money that we gave to them to keep for us.

Well I really don't blame them, its the financial regulators, CBN in particular that I blame. Because if Small incidents of ATMs debiting you yet you don't get cash are taken seriously, if online transactions that you will be debited and the receiver will not get the money for days and without even an apology from the erring institutions are promptly penalized these institutions will not take its customers for a ride.

An elderly woman who had not had breakfast was there in the banking hall till 1pm if she collapses there when she has money in her account to take care of her needs who will be held responsible. A girl who was to travel to Bauchi from Abuja was stranded with no hope in sight. Many business men like me who wanted to get money to run around and do some work were grounded after spending productive hours on end at the banking hall and yet got no money.

Nigeria When will we get it right. I hope someone up there will read this and do something to make our financial institutions work like their counterparts in other climes. Else we would have no other option than to return to the dark days of keeping money under our beds and take the risk of moving cash physically.

May that never happen

BLACKMANTIS writing from Abuja

cc lalasticlala
cc seun

Oh so that was what happened yesterday!?
No wonder Polaris bank's ATM stand was deserted and there was mad queue at Fidelity bank.

5 Likes

Re: Polaris Bank Network Failures And The Silence Of CBN by Olayinka777(m): 6:38pm On Dec 04
Olayinka777:

Oh so that was what happened last night!?
No wonder Polaris bank's ATM stand was deserted and there was mad queue at Fidelity bank.
Re: Polaris Bank Network Failures And The Silence Of CBN by obalala: 6:41pm On Dec 04
I was at their office at awolowo way ikeja and it was the same story. I told them I'm not doing again oo(Loool) o, I want to close my account they should give me my money, I was refused and told no network to even close my account . A lot of shouting within the bank premises, I just hope it would be resolved soon enough

20 Likes

Re: Polaris Bank Network Failures And The Silence Of CBN by blackmantis: 7:07pm On Dec 04
For two working days people cant access their funds in Polaris Bank

If you have an emergency Sorry

If you are travelling and stranded wait

If you have no food Fast

If you have not paid your tithe Pray

5 Likes

Re: Polaris Bank Network Failures And The Silence Of CBN by blackmantis: 7:13pm On Dec 04
Deji Adeyanju's take on the Polaris Matter

Re: Polaris Bank Network Failures And The Silence Of CBN by makavele: 7:46pm On Dec 04
Just in case it H F P
Re: Polaris Bank Network Failures And The Silence Of CBN by 6660M0666: 8:20pm On Dec 04
Before the useless bank was sold to Polaris, I was already making plans to close my account with them.

In fact, I'd advise anyone who thinks he/she has no alternative to Polaris Bank to consider Piggy Bank. It's safer, less stressful and very efficient.

Polaris Bank is just useless.

I was at an ATM stand to withdraw money in September, and this useless Bank deducted money when the ATM didn't dispense any money. I have been to their branch near me endless number of times. Sometimes, I even think I am more familiar with the route to the bank than I am with the route to my house.
That's how frequently I have been there.

Yet, they have not rectified the transaction till this moment.

And their customer service. They are so wonderful in their uselessness. It is a benchmark for uselessness.

Their employees act like they are doing you a favour by doing their jobs. Acting as if you're just a nuisance.
Very useless.

While that case is still pending, same thing happened again last week. Deducted Money, No Money dispensed!!!.
The Bank is the epicenter of frustration.


And their useless lip service and halfhearted apologies are very annoying.
Disgusting, even.

I should have travelled now, but I am completely stranded because of this useless bank.


And if not for the crookedness of the CBN and the wickedness of the powers that be, the useless bank should have been shut down eons ago.
Install incinerators in the spaces their branches currently occupy and it'll serve more important purposes than having those banks waste valuable, scarce spaces.


I support, without any hesitation or reservations, the total and absolute shut down of POLARIS BANK.

Too many useless entities in this country already, we don't need more of them.

Seun, pls make sure this thread gets to front page. People are suffering and no one seems to be willing to do anything about it. Don't be a part of these people.

The platform that this forum provides can make a huge difference, let it happen.


I will patiently wait for them to refund my money and then I'll make sure I close my account and never look back at the uselessness of the useless bank.


The number of times I mentioned 'useless' in this post is just a fragment of the enormity of their worthlessness as a banking corporation.

55 Likes 5 Shares

Re: Polaris Bank Network Failures And The Silence Of CBN by yinkeys(m): 8:31pm On Dec 04
These guys dey gradually plan to close down.
Gradually transferring my cash small small
Re: Polaris Bank Network Failures And The Silence Of CBN by otokx(m): 8:32pm On Dec 04
When a bank starts misbehaving just transfer your money out and leave them.

4 Likes

Re: Polaris Bank Network Failures And The Silence Of CBN by Kelklein(m): 8:32pm On Dec 04
Just what happened to me today..

3 Likes

Re: Polaris Bank Network Failures And The Silence Of CBN by kamez(m): 8:33pm On Dec 04
u are not alone my brother. Diamond bank has been a nuisance recently... Im currently in Lagos and my first mission once I get to owerri on Monday is to go down there and close my account with them...


their Mobile App is wack, even using the normal *426# for transactions is worse.. a client will transfer money to my diamond bank account right in front of me and yet my account won't be credited till 48hrs later or more..

I just tire...

2 Likes

Re: Polaris Bank Network Failures And The Silence Of CBN by madridguy(m): 8:34pm On Dec 04
grin grin grin

1 Like

Re: Polaris Bank Network Failures And The Silence Of CBN by akinvest(m): 8:35pm On Dec 04
Not only Polaris Bank also Ecobank the network has been down since last week Friday up till now no network for Ecobank. cool

13 Likes

Re: Polaris Bank Network Failures And The Silence Of CBN by doctorkush(m): 8:36pm On Dec 04
when polaris bank starts dispensing 10000 naira for every 1000 withdrawal, let me know. make I go cash out for the one near my apartment
Re: Polaris Bank Network Failures And The Silence Of CBN by Galaxyowerri(m): 8:36pm On Dec 04
Stop using akawo banks una no go hear!

6 Likes 1 Share

Re: Polaris Bank Network Failures And The Silence Of CBN by Jadespices: 8:36pm On Dec 04
Polaris bank = potholes.
Re: Polaris Bank Network Failures And The Silence Of CBN by Trouble1: 8:37pm On Dec 04
They sent me an apology message.
I believe they sent it to every other person too
Re: Polaris Bank Network Failures And The Silence Of CBN by dadebayo1(m): 8:37pm On Dec 04
I pray Polaris overcomes ..... Truth be told the bank is really in distress....

4 Likes

Re: Polaris Bank Network Failures And The Silence Of CBN by badmrkt(m): 8:39pm On Dec 04
Princeofnigeria:
you're really a poor man

You wrote this epistle for just money I do use to subscribe daily hahahaha

I spit on your grave
you are passionately and preciously Stupppiddd...

33 Likes

Re: Polaris Bank Network Failures And The Silence Of CBN by ShamsBarack: 8:39pm On Dec 04
I was lodged some few days back, and transfered the bills from my GTB account to the hotel's account, which is Polaris Bank. I stayed for three days and it was just two days back that the manager texted me to tell me they've seen the alert. The man was somewhat afraid to allow me check out. From my own end, it was showing my debit details, theirs didn't show I credited them for three full days.

But why do some of you use some certain banks sef?!

2 Likes

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