khreus:

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.

.

Na becos eh never happen to you. When eh happen you go know say na Naija you dey. I have experienced it

NPFLADMIN:
Nigerians in diaspora.

Over to you!

No it doesn't happen, we are living in perfect place a paradise.

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.

You are not getting it.... If the reversal is not initiated by the bank or the sender the money can't reverse on its own after being credited to the recipient.

Like for example If I send you money and you have been credited there's no way it will reverse unless I made a complaint and initiated the reversal

khreus:

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

And I was planning on working there after my service year. So I was a good corper. Let that not spoil my image. I was employed there. I gained things worth more than that amount.
I wasn't lacking also.
Sometimes, we look beyond the immediate gratification.

Shakirababy:


You are not getting it.... If the reversal is not initiated by the bank or the sender the money can't reverse on its own after being credited to the recipient.

Like for example If I send you money and you have been credited there's no way it will reverse unless I made a complaint and initiated the reversal

Of course, it should be initiated by someone
I thought you opined it doesn't happen.
My apologies

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?

Use monies point and opay POS. End of discussion.

descarado:

Of course, it should be initiated by someone
I thought you opined it doesn't happen.
My apologies

Ofcourse it does... we are cool

Jewskillmohamed:


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

White ass worshipper, Nigeria is miles ahead of the US in internet banking technology. Cry me a river.

mastermaestro:


White ass worshipper, Nigeria is miles ahead of the US in internet banking technology. Cry me a river.

Tell that to your self morning till night until you believe it


Lagbaja

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.

You can actually raise a dispute to a fund already transferred using your phone application for example if you have a UBA application you can click on dispute transaction and the money will be disputed until reversed

ifinger:
You can actually raise a dispute to a fund already transferred using your phone application for example if you have a UBA application you can click on dispute transaction and the money will be disputed until reversed

I am talking about automatic reversal.

It can happen anywhere.

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

Lol. I've actually experienced that. A made 5k transfer to POS guy, I was debited and he confirmed the payment before releasing the money to me. 3 Days later the money was reversed back to my account. I had to go there and pay the guy back.

The day I made that transaction network was terrible, I had like previous 3 transactions that I made, I was debited but those I sent to didn't get credited (There was pending message on my app). The POS guy was the first to receive and it even showed "Successful" on my app, instead of "pending" like the previous ones. When all the failed transactions was reversed, they reversed the POS guy own too. I guess it was a glitch from my bank.

It's rare occasion, but it happens.

Offpoint1:

Lol. I've actually experienced that. A made 5k transfer to POS guy, I was debited and he confirmed the payment before releasing the money to me. 3 Days later the money was reversed back to my account. I had to go there and pay the guy back.

The day I made that transaction network was terrible, I had like previous 3 transactions that I made, I was debited but those I sent to didn't get credited (There was pending message on my app). The POS guy was the first to receive and it even showed "Successful" on my app, instead of "pending" like the previous ones. When all the failed transactions was reversed, they reversed the POS guy own too. I guess it was a glitch from my bank.

It's rare occasion, but it happens.

Wow!

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.

Why u dey lie like dis jst to chase clouth. Not possible at all 2nd day money con commot 4 ur account go back to d sender jst like dat u think say na mumu full nairaland abi

yes a receipt will even be generated

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?

Nothing works perfectly well in shiithole except Evil and Wickedness.

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

The transaction probably got through but won't deliver if the recipient account is not updated with NIN.

I also did N5000 transfer in the morning to an Opay account, and late in the evening, I got a reversal back.

Most people using mobile wallets such as Palmpay and Opay did not link their NIN when they registered and now that it's now a requirement, many have not updated their account with NIN.

Akalia:
you lack integrity.

lol na you know o! Integrity my yansh!!

immortalcrown:
I am talking about automatic reversal.

Well if dispute can reverse automatic reversals is possible depending on how the system is configured to respond in such cases

ifinger:
Well if dispute can reverse automatic reversals is possible depending on how the system is configured to respond in such cases

You are mixing things up here. No bank configures its system to automatically reverse a received payment.

CaptainFM1:


The transaction probably got through but won't deliver if the recipient account is not updated with NIN.

In this case, the payment is not received.

immortalcrown:
How did you confirm it was automatic?

Oh yes. It was during the naira scarcity. I sent to a friends GTB so I would use his atm. We saw the credit alert afterwhich I proceeded to use the ATM card. Guess what? That night, the 20k was autoreversed, and his account debited 20k without notification.

immortalcrown:
In this case, the payment is not received.

Better put, the recipient cannot access the payment! And after some while of the money hanging in the cloud, gravity drops it back to the payee's account.

Ideally, the payee should not have received a transfer successful notice or betterstill, the payee should not be able to complete the transaction. It's all part of the corporate scam strategies used by these companies.

Few months ago, I subscribed #20,000 worth of data on my line. The network took the money but would not give data. Why? Because the money is more important to them. If my line is not linked with NIN, it makes reasonable sense that I should also not be able to recharge or subscribed. But, no, they will still collect your money and hope you do the needful from your end.

CluelessMODS:
No it doesn't happen, we are living in perfect place a paradise.

Now we all know that's a lie.

NPFLADMIN:


Now we all know that's a lie.

I bet you know what is called sarcasm.

CluelessMODS:
I bet you know what is called sarcasm.

Yeah, I forgot that for a minute.
BTW, u dey US?

Yesterday I initiated a transfer and it told me error but in fact debited me and paid the recipient. In the early days I might end up making multiple payments and no refunds so now I will give it an hour and check my transactions history before I decide what to do.

Anunakeeh:


Nothing works perfectly well in shiithole except Evil and Wickedness.

There is no country in the world where things work perfectly well, every country have their problems in all areas the only difference is how they tackle it. I bet people like have not even stepped into an airplane that is why mediocrity is the order of the day.

NPFLADMIN:


Yeah, I forgot that for a minute.

BTW, u dey US?

Yes sir I live in Texas.

It is a result of network issue.

CluelessMODS:

There is no country in the world where things work perfectly well, every country have their problems in all areas the only difference is how they tackle it. I bet people like have not even stepped into an airplane that is why mediocrity is the order of the day.

Unfortunately i don't entertain Stupid Clueless Dunce.