“I Withdrew N50,000 From the ATM, I Was Debited Despite No Cash Was Dispensed, What Can I Do?

“I Withdrew N50,000 From the ATM, I Was Debited Despite No Cash Was Dispensed, What Can I Do?

  • A bank customer says 50,000 was debited when making withdrawals from an ATM close to her place of work
  • The young lady who spoke anonymously said she had been waiting for two days for the refund nothing yet
  • Kalu Uche, an operational manager in one of Nigeria's commercial banks, explained to Legit.ng in an exclusive chat the process of handling ATM errors

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

A bank customer who spoke to Legit.ng anonymously disclosed that she went to the Automatic Teller machines (ATM) to make a withdrawal but was debited despite no cash being dispensed, and the bank has yet to refund her.

Bank customers ATM
Bank customers use Automatic Teller machines (ATM) Photo credit: Benson Ibeabuchi
Source: Getty Images

Her words:

"I was withdrawing money from another bank's ATM. Money was debited, but I did not get the cash., I have waited for two days and called customer care several times."

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Banker explains the process to get ATM failed transaction refunds

Kalu Uche is an operations manager in one of Nigeria's commercial banks. He has over 15 years of banking experience, rising from being a customer representative to a senior bank staffer.

Explaining the process of seeking refunds, Uche said:

"We hardly receive complaints from customers regarding ATMs failing to dispense cash despite their accounts being debited.
"Although ATMs can occasionally malfunction, such as cash getting stuck in the machine, the funds are almost immediately reversed. This is because at the bank, we always have ATM operators who will already be aware of the error and will promptly rectify it in the account.
"If an occasional slip-up occurs and there is no reversal, it is important that a customer complains immediately and also states clearly the exact time, date, and location of the malfunctioning ATM.

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"Nevertheless, all transactions, whether successful or unsuccessful are recorded and the link bank accounts. Everyday, an officer reviews all transactions along with the cash balance in the ATM safe.
"If there is a variance in cash balance due to failed transactions. On that basis claims are settled.
"When a customer, notifies the bank of the missing money, it will be investigate, and within 10 days, the claimed funds will be credited to the account, if true"

Disclaimer: Advice given in this article is general in nature and is not intended to influence readers' decisions about solving problems. Readers should always seek their own professional advice that takes into account their own personal circumstances before making any decision.

Do you have a story to tell? Want an expert's advice? Please email us at ask.an.expert@corp.legit.ng with 'Ask an expert' in the subject line.

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Earlier, Legit.ng reported that Nigerian banks have once again sent messages to customers to be vigilant regarding various methods used by fraudsters.

The latest message is from First Bank of Nigeria, the oldest financial institution in the country.

The combined customer deposits of Nigeria's biggest banks stand at over N15 trillion.

Source: Legit.ng

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