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

Remember you are passing a story that is not yours.
Karma doesn't reverse money.
If the person that told you this story didn't initiate the reversal, then it was the younger brother that did the reversal or he sent the money back with narration 'reversal'.

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

You are a false accuser here. I simply used "someone".

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.

You have no idea. I've had credit alert reversed before.

Karma is a bitch

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.

Barawo!

immortalcrown:
You are a false accuser here. I simply used "someone".

OK, I apologize. He didn't. And just so you know, there's no limit to technology malfunction. A bank system might malfunction and start crediting random bank accounts with specific sums of money every month. Even if the system has been designed to never reverse a transaction that has already been credited, it could still happen.

guobe:

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

This is a very poor system. You should generate the report in pdf and send to his boss. Boss will send same to him. This occurs in seconds.

Most bosses will not want their workers to hold the cash because that is an avenue for all sorts of stories from area boys to policemen

RenaissanceGuy:
OK, I apologize. He didn't. And just so you know, there's no limit to technology malfunction. A bank system might malfunction and start crediting random bank accounts with specific sums of money every month. Even if the system has been designed to never reverse a transaction that has already been credited, it could still happen.

Okay. But have you ever experienced a reversal of a delivered mail?

Itsrm:
You have no idea. I've had credit alert reversed before.

Okay. But I don't believe it.

[quote author=RenaissanceGuy post=129145933] 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 ;/quote] wow I like this kind of reverse oo, if I send you money and you can't call me to say thank you, I want it reverse as well lol

People and small businesses should use all fintechs like opay, palmpay, moniepoint etc for normal debit and credit transactions.

They're more reliable than all these traditional banking bullshit.

And always insist on it.

People didn't reply your post ,because of the element of lies ,
A confirmed transaction don't Bounced back

immortalcrown:
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.

Good hearted man you are 💯. Nigerian banks are complicit too, they have records of failed transaction mostly debit without refund and they still want you to go back.

immortalcrown:
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.

Good hearted man you are 💯. Nigerian banks are complicit too, they have records of failed transaction mostly debit without refund and they still want you to go back and complain .

guobe:

The boss is not with him.

Bounce back or reversed transaction only happens with conventional banks app ...

in my experience, such don't happen with fintech banks such as Opay, palmpay e.t.c

guobe:
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?

You are a good man

guobe:
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?

Good hearted man you are 💯. Nigerian banks are complicit too, they have records of failed transaction mostly debit without refund and they still want you to go back and complain .

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.

Pls don't say what you haven't experienced. I credited someone and he got the money. Hours later the money reversed back. After some days UBA notified me through sms that it was a glitch and they took back their money.

guobe:
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?

Mine bounced back after 3 days.
It was from zenith to fidelity bank.
It showed successful frm my end, and I was even given a debit alert.
The next day, the restaurant had not seen it so they called ( if u do transfer, u write out ur number on a paper) , so I went and showed them the transaction frm my app.

On the 3rd day, I got a reversal!! Menh I was stunned.

The whole thing looked like a fake transfer from me.

Las las I went to return the money to the accountant of the restaurant

guobe:

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

Stop saying what you don't know you can make a Wire transfer in US and get a successful payment and your bank will decide to cancel the transaction...


Same with there Fintech you can use Zelle and the receiver will receive money and the money will be refunded even cashappp after getting receipt that money went through successfully showing completed money can still go back to the sender....

Drbarmes:

Pls don't say what you haven't experienced. I credited someone and he got the money. Hours later the money reversed back. After some days UBA notified me through sms that it was a glitch and they took back their money.

Did the credited account get debited when the reversal happened? Answer this question.

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 .

God is wonderful

immortalcrown:
Okay. But I don't believe it.

Continue disbelieving.

That's my chat with the guy

immortalcrown:
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.

Oga read

Maliqcious:
Oga read

Madam, read.

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.

There is nothing like reverse transaction in the history of United States from the creation of bank till today.

No instant payment, you have to be patient because payment takes 3 to 5 business working days .

Even with the introduction of ACH it takes 3 business days to clear and once it's done check your account shikena.

Na suffer head una need for Africa

id4sho:

Good hearted man you are 💯. Nigerian banks are complicit too, they have records of failed transaction mostly debit without refund and they still want you to go back and complain .

It's true and if you don't complain the money is gone

inoki247:



Stop saying what you don't know you can make a Wire transfer in US and get a successful payment and your bank will decide to cancel the transaction...


Same with there Fintech you can use Zelle and the receiver will receive money and the money will be refunded even cashappp after getting receipt that money went through successfully showing completed money can still go back to the sender....

Cancellation is different from reverse.

And there must be an explanation.

In the USA nothing like reverse due to bank network shit

Suffer fit blacks

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 .

Any money received can never reverse again.

There's no where it happens....it's just normal talk

Since you're not the person that experienced it then the story is made up

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

Your questions are sensible

What is catastrophic in losing money for a bag of pure water?,some people will be sounding stupid in an attempt to downgrade the country by all means.
Human makes mistakes every where in the world so also does electronics too can malfunction,what’s the fuss about that?
You are human that is better than a computer,you act on instincts and computer acts on instructions or command.