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

As in eeh.... It's not even possible sef

Here in Canada we mostly use interac email transfer (where transfer is linked to your registered email) and in 6 month experience here, I have never had a failed transaction

Jewskillmohamed:


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

Lol you can rebrand it as you like and worship your white...

Someone received money successfully and money was reversed back showing fail in your dashboard is not called bank network but reasons....


So far have send out the money the receiver have received since I didn't report the transaction the money isn't supposed to be reversed...


But you guys are free to worship your white...

oga if it hasn't happened to you abeg calm, it happened to me twice the money entered my account but it reversed twice, i just wan mad that day

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.

If you ever get a reversal (credit alert) for your successful payment (that is if the recipient's account has been credited with the money you sent), the 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.

Xammie001:
oga if it hasn't happened to you abeg calm, it happened to me twice the money entered my account but it reversed twice, i just wan mad that day

It was not automatic. Someone somewhere initiated it mistakenly or intentionally.

It's advisable to get the number of people who want to send you money in case the transfer fails.

i don't know that ooo, but twice

immortalcrown:
It was not automatic. Someone somewhere initiated it mistakenly or intentionally.

inoki247:



Lol you can rebrand it as you like and worship your white...

Someone received money successfully and money was reversed back showing fail in your dashboard is not called bank network but reasons....


So far have send out the money the receiver have received since I didn't report the transaction the money isn't supposed to be reversed...


But you guys are free to worship your white...

Black warrior from wakanda

Wear your banana leaf and spear and use cowries for transaction instead since the white who introduced online banking are now to be inferior than you.

Nothing like reverse transaction in the USA you can take that information and do it it what ever you wish.

It takes 3-5 business working days for money to clear either through wire or ACH , ATM deposit are instant with just a little cash for you while the others pend for 3-5 business days same with mobile deposit where your check is snaped and uploaded.

Nothing like reverse transaction

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?

That kind of failed transaction can happen anywhere in the world especially when basic transactional and financial breach is concerned.

I also did a N5000 transfer to someone yesterday morning, and later in the evening, I got a reversal. I had to request the person to give me a proper bank account no, not any of those microfinance account that uses mobile phone numbers such as Opay, Palmpay et al.

When most people opened those mobile wallets account, they did not link their NIN and now that it's a requirement many are not going back to update their account with NIN. That's what I think is the major cause of this transaction failure.

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.

That happened to me during my youth service.
Millions were sent to my account by NYSC. Reversed after 24 hours with an apology from the bank sent to my email.

I also bought some high paying stuff, sent cash and it was successful...even showed receipt. They let me take my item and leave. Only to return home and the sum was bounced.

Jewskillmohamed:


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

From your explanation, Nigeria is even ahead of the US in online banking. A system where you cannot credit someone's account in minutes is still backwards in financial technology. And here you are talking us down. Go sleep!

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.

Nigeria has more robust banking architecture than the west. Quote me anywhere

Shakirababy:


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

That is a very big lie.
I received 3.6m from NYSC. Infact, I was over the moon.
My regret was I didn't touch it.
Was told to let it sit for days, if not reversed, go to my bank and show them. Bank PHB.

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.

If you ever get a reversal (credit alert) for your successful payment (that is if the recipient's account has been credited with the money you sent), the 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.

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

U must be a banker and a top notch banker for dis breakdown. U @ 101% correct

It still baffles me that in the year 2024 ,transfer transactions are bouncing back and I do wonder if such occurrence happen abroad?

Here, we use Interac to transfer funds.
All the sender needs is your email address registered with your bank to transfer money to you.
The only way it will fail is if the sender types the email address wrongly.
He gets debited but also gets an email notifying him the beneficiary of the fund doesn't exist.
He can then recall the transfer through the bank app and resend.

CaptainFM1:


That kind of failed transaction can happen anywhere in the world especially when basic transactional and financial breach is concerned.

I also did a N5000 transfer to someone yesterday morning, and later in the evening, I got a reversal. I had to request the person to give me a proper bank account no, not any of those microfinance account that uses mobile phone numbers such as Opay, Palmpay et al.

When most people opened those mobile wallets account, they did not link their NIN and now that it's a requirement many are not going back to update their account with NIN. That's what I think is the major cause of this transaction failure.

Okay

Doesn't happen here in the UK, transaction is maximum 5 seconds for reciever to be credited

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.

If you ever get a reversal (credit alert) for your successful payment (that is if the recipient's account has been credited with the money you sent), the 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.

You playing. Things happens man. Someone once transferred money to my account via ATM and I received the credit alerts and also had to confirm the transactions on my mobile app júst to be sure and it was successful. However, I got debit alerts of equivalent amount the second day in which the money was reversed to the person's account. It was intra bank transaction o.

mastermaestro:


From your explanation, Nigeria is even ahead of the US in online banking. A system where you cannot credit someone's account in minutes is still backwards in financial technology. And here you are talking us down. Go sleep!

Lagbaja

Your minutes transaction is what is making you wail about reverse transaction and see the whole world like a bush.

If you need instant cash deposit use the ATM if you deposit 5k USD you can withdraw only 2k instant then you wait and don't rush like a black hooray nothing is chasing you.

Hospital don't charge you before treatment so you won't say you are rushing to save life , neither can you finish $30 a day on just food if food is the problem also .

Nothing is rush so why rush for transaction

guobe:

I do wonder if such occurrence happen abroad?

Not true. Once a transaction has been initiated on NIBSS or whatever portal and the value confirmed by beneficiary, nothing in the world can reverse such except it never went through the first place.

Treasure17:

You playing. Things happens man. Someone once transferred money to my account via ATM and I received the credit alerts and also had to confirm the transactions on my mobile app júst to be sure and it was successful. However, I got debit alerts of equivalent amount the second day in which the money was reversed to the person's account. It was intra bank transaction o.

My point is that the occurrence is not automatic. It is even a crime against the credited account. You can sue the bank.

descarado:

That is a very big lie.
I received 3.6m from NYSC. Infact, I was over the moon.
My regret was I didn't touch it.
Was told to let it sit for days, if not reversed, go to my bank and show them. Bank PHB.

Kai, you effed up. I would have fixed such for certain period. At maturity, repay NYSC, pocket my interest shikena. Return of dividend.

Last year during election period,I went to alaba international market to buy elepaq generator set,if you guys can remember we had scarcity of cash,I collected his bank account I think it was fidelity bank account I went to Ecobank to do the transfer via counter,took the teller to the man,the man saw this,out of honesty he gave me the generator set only for him after 3 days I was having election briefing he called 3 times I couldn't pick,after the meeting,he asked his son to use his oun number To call if i would pick,I picked I told the boy I would come straight to Thier shop he should pls tell the father am so sorry it wasn't my fault,by then the money was reversed back to my account,the man was so shocked to see me,i collected the teller went back to ecobank,it was sent again this time strictly to his account,the man had to beer mr up,i cant eat someone elses sweat..

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.

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.

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.

Seee you, see explanation. It happens. At least I have experienced this.

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.

you lack integrity.

henrycloud:
Seee you, see explanation. It happens. At least I have experienced this.

How did you confirm it was automatic?

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?

.

This situation is rear but it happens. A client sent money to me through his bank app and he got a debit. I opened my bank app and saw the credit. About an hour I was checking my bank app for another transaction and noticed the amount was reversed. Thank God it was someone I know. I called him, he checked his app and noticed the money came back to him. Je then sent it again.

Someone I know had complained about this anomaly before, I was wondering how can that be, until it happened to me.

Guys pray this does not happen to you.

In Canada we use email/phone number ( linked to a bank account) to send money. Has happened to me twice, money sent was held because the bank suspected it was a scam or the recipient account has issues.

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?

Is abroad heaven or a perfect place? There is nothing mediocrity will not cause. Come to abroad where I live and see numerous failed transactions and bank issues. You people will be drawing comparison every time as if abroad don't have their own problems.

philipobiz:
.

This situation is rear but it happens. A client sent money to me through his bank app and he got a debit. I opened my bank app and saw the credit. About an hour I was checking my bank app for another transaction and noticed the amount was reversed. Thank God it was someone I know. I called him, he checked his app and noticed the money came back to him. Je then sent it again.

Someone I know had complained about this anomaly before, I was wondering how can that be, until it happened to me.

Guys pray this does not happen to you.

This anomaly needs to be corrected as it can lead to huge loss to business owners.

immortalcrown:
My point is that the occurrence is not automatic. It is even a crime against the credited account. You can sue the bank.

Ofcourse.