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Nairaland Forum / Nairaland / General / Business / Failed E-transactions: Report Defaulting Banks To Us- CBN (12573 Views)
Can I Be Arrested For Defaulting On A loan To A Loan App? / Banks Make N124bn From E-transactions / CBN To Fine Banks ₦10,000 If They To Fail Reverse E-transactions Within 24 Hours (2) (3) (4)
Failed E-transactions: Report Defaulting Banks To Us- CBN by TrendingAccount: 8:36am On Jan 21, 2019 |
The Central Bank of Nigeria (CBN), said any failed instant payment transaction not reversed into the customer’s account within 24 hours after complaint by the sender or beneficiary should be reported to CBN. The Director, Consumer Protection Department, CBN, Mr Kofo Salam-Alada made this in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja. Mr Kofo Salam-Alada recalled that the CBN had in September 2018 published a circular on the guidelines for instant electronic payments, which also include sanctions for banks and other financial institutions that abuse the system. He said that the CBN had mandated banks to pay a fine of N10,000 to customers for each failed transaction not resolved within 24 hours. “When you do instant payment, you want it to be instant and when it is not achieved then there should be sanctions to such providers. “However, we want to use this medium to inform the public that the first point of call is actually your service provider not CBN and it is only when your bank cannot resolve it and there’s no promise of resolution that you come to CBN. “After that, the CBN can step in and look at the issues and see whether the customer is entitled to what he’s claiming against the bank. “It is not all the time that customers come to the bank that they will get what they want. “We will examine the issues and see whether there was any failure on the part of the bank before the decision is made,” he noted. NAN recalls that the Circular was issued on the regulation of instant inter-bank electronic funds transfer services in Nigeria to all Deposit Money Banks, microfinance banks, mobile money operators, development finance institutions and payment service providers. The CBN in the circular announced that any failed instant payment transaction not reversed into the customer’s account within 24 hours will attract a fine of N10,000. It also said that delayed application of inward NIP into beneficiary’s accounts beyond four minutes would attract a penalty fee of N10,000 per item. According to the Apex bank, all instant electronic funds transfer disputes should be resolved within three working days. Also, where a customer and the bank fail to agree, the aggrieved entity should report to the Director, Consumer Protection Department, CBN within five working days of the failure to resolve the dispute so as to minimise customer pain. Meanwhile, some customers who spoke to NAN urged the CBN to do all it could to ensure the banks complied with its directive. https://www.trendingaccounting.com/2019/01/failed-e-transactions-report-defaulting.html 4 Likes
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Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by booblacain(m): 8:49am On Jan 21, 2019 |
Fidelity bank, no1 offender. Una go hear am for my hand. Guys, check bellow for that perfect gift for your lady's birthday. Perfect for the rainy and sunny season. 12 Likes 1 Share |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by MANNABBQGRILLS: 9:05am On Jan 21, 2019 |
CBN had mandated banks to pay a fine of N10,000 to customers for each failed transaction not resolved within 24 hours. Very Good way to go. Good job Federal Government. This is part of the CHANGE we voted for. Gradually we will get there. 8 Likes 3 Shares |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by OBTMOS(m): 9:05am On Jan 21, 2019 |
V |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Leonardoreel(m): 9:05am On Jan 21, 2019 |
No be lie eh I say no be lie eh Nah so GTB debit me wey i no see money collect eh If no be for CBN eh I for don lost the money eh But I thank God for CBN eh Dem reverse my money eh Dem Kon add extra 10k untop am eh. Nah so I Kon dey rejoice eh... 5 Likes |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by InaNla(f): 9:06am On Jan 21, 2019 |
Talk is cheap. 2 Likes 1 Share |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by abdulazeez1002(m): 9:07am On Jan 21, 2019 |
How will somebody report defaulters.?? 5 Likes |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by eazylion001: 9:07am On Jan 21, 2019 |
if I report GTB, what will they do? Talk is cheap |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by osariemenk(m): 9:07am On Jan 21, 2019 |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by iamademola(m): 9:07am On Jan 21, 2019 |
Stanbic ,regular customer . They use my eyes see weehn during the new year holiday. More than 300k hang on different transaction. Thank God I got my money back gradually. 3 Likes |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Nobody: 9:07am On Jan 21, 2019 |
Buhari bank has failed to make Nigeria an Instant change. I am reporting it instantly 1 Like |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by lookingfly: 9:07am On Jan 21, 2019 |
R |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Dennismaria(m): 9:08am On Jan 21, 2019 |
What's the means to report such cases? 1 Like |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Jayslicky: 9:10am On Jan 21, 2019 |
Good. This will make banks offer better services. 1 Like |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by freemanbubble: 9:10am On Jan 21, 2019 |
isokay |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by kernel001: 9:10am On Jan 21, 2019 |
I've never seen any good policy in this administration, but this! Awesome. For once a good story is coming from Buhari’s administration. |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Leonardoreel(m): 9:10am On Jan 21, 2019 |
abdulazeez1002: Through their email and attach proof along |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Negotiate: 9:10am On Jan 21, 2019 |
Crap
Which bank will not promise just to get you hooked? A silly white elephant policy. 5 Likes |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by LordGuru1: 9:13am On Jan 21, 2019 |
kernel001:Very true. |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by itiswellandwell: 9:13am On Jan 21, 2019 |
Cbn copied this compensating customer style from jumia. Jumia started it first. 8GB Atm card flash drive for #1000 only. Check link https://www.nairaland.com/4972442/clearance-sales- quality-8gb-atm |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by ensamy(m): 9:13am On Jan 21, 2019 |
ME FOR THREE WEEKS UBA PLC HAS NOT REVERSED MY MONEY BACK INTO MY ACCOUNT, THOUGH I HAVE BEEN GOING THERE TO LAY COMPLAIN. UBA ATM CARD TO UBA ATM MACHINE OO, GOD HELP US. I ALSO ABANDONED ONE MONEY LIKE THAT IN ANOTHER BANK SOMETIME AGO BECAUSE OF STRESS OF ASKING FOR REVERSAL OVER AND OVER Hmmmmmmm. ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() 1 Like |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by chukwugoziegi: 9:15am On Jan 21, 2019 |
booblacain: Na them. Their ATMs are useless as well. 1 Like |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Splasshhh(f): 9:15am On Jan 21, 2019 |
All in one app. See this |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Nobody: 9:17am On Jan 21, 2019 |
I was debited while using UBA ATM machine on Saturday, machine didn't dispense cash. ensamy: |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by EternalBeing: 9:19am On Jan 21, 2019 |
Good. |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by AjalaJ(m): 9:23am On Jan 21, 2019 |
There are many culprits to name. Perfect Money/Payeer/Epay/Neteller/Skrill: ItuGlobal |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Mcreloaded(m): 9:25am On Jan 21, 2019 |
Instead of N10 000 make it N100 000 then it will be worth while to go to CBN and do all the paper work. What is N10 000 and after much stress at the N10k you won't see |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by olamimd: 9:25am On Jan 21, 2019 |
Talk is cheap joor. I am yet to see the CBN Consumer Protection Unit do anything to a customer's complaint. I am a living witness. Currently my 7k is with GTB due to a failed transaction on atm quickteller transaction since 11/11/18 for the sun of 7k. I have complain and complain and even sent mail to CBN but nI response and action from them. In fact am tired and don't know whatelse to do. 1 Like 1 Share |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Picienza: 9:28am On Jan 21, 2019 |
Good. First bank is so guilty of this and would never refund your money. |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by prinsam30: 9:31am On Jan 21, 2019 |
GtBank is still owning me N13000 since September 2009, I just dey look them... thank u CBN anyways |
Re: Failed E-transactions: Report Defaulting Banks To Us- CBN by Nobody: 9:43am On Jan 21, 2019 |
booblacain:bros do u know where one can buy google or amazon giftcard in Nigeria |
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