I once met a man who vowed never to
get an ATM card for himself from the bank. Being curious, I asked why he made
such decision despite its usefulness in this digital age. His reason was
somewhat valid. He didn’t want to experience the usual ‘my account was debited
but I didn’t get the money’ saga.
Sadly, this has become an anthem on
the lips of Nigerians who expect a seamless transaction when using the ATM but
end up with sad stories. In the case of an ATM dispense error, resolve them
easily with these steps. Note that you cannot make a report to your bank until
24 hours after the failed transaction. Banks advise customers to wait for 24
hours because the error is expected to correct itself within that period.
1. Make a complaint to your bank
Visit any branch of your bank and
fill a dispense error complaint form. The filled form will be verified and your
money will be reversed within 24 to 48 hours. If this error happened on the
machine of your bank, it won’t take much time to resolve it.
However, it takes more days as it
involves inter-bank communication if it happens on the ATM of another bank.
2. Follow up
You may need to do a follow-up on
your complaint. You can do the follow-up with a telephone call to the customer
service of your bank. You may also send an email to the designated email
address of your bank. It is recommended that you follow up with calls if your
complaint is not resolved in the shortest time. Social Media is also a good
place to follow up on your complaint.
3. Complain to the Central Bank of
Nigeria
The Central Bank of Nigeria has
directed banks to resolve ATM cash dispense errors within stipulated timelines.
Should the bank be delaying more than necessary, you can escalate your
complaint to the CBN by writing to its Consumer Protection Department. This can
be done through an email on the CBN website, www.cenbank.org.
So, whenever, you have an ATM cash
dispense error, do not panic, just follow the due process, and you will get
your money back soon.
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