{"id":40466,"date":"2020-06-01T17:00:02","date_gmt":"2020-06-01T16:00:02","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=40466"},"modified":"2020-06-01T17:01:03","modified_gmt":"2020-06-01T16:01:03","slug":"banks-has-two-weeks-to-resolve-outstanding-issues-on-atm-e-banking-complaints-cbn","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/banks-has-two-weeks-to-resolve-outstanding-issues-on-atm-e-banking-complaints-cbn\/","title":{"rendered":"Banks Has Two-Weeks To Resolve Outstanding Issues On ATM, E-Banking Complaints—CBN"},"content":{"rendered":"

The Central Bank of Nigeria has directed all banks to resolve all outstanding issues relating to failed Automated Teller Machine, Point of Sale terminal and other electronic banking transactions within two weeks, starting June 8, 2020.<\/p>\n

It also revised timelines for reversals and resolution of refund complaints on electronic channels.<\/p>\n

A statement signed by the Director, Corporate Communication, CBN, Isaac Okorafor, said this was to further enhance service quality, particularly quick refunds when customers experience failed transactions, dispense errors or disputes.<\/p>\n

The CBN stated, \u201cAll banks are directed to resolve backlog of all ATM, PoS and web customer refunds within two weeks starting June 8, 2020.\u201d<\/p>\n

It also said, \u201cFailed \u2018On-Us\u2019 ATM transactions (when customers use their cards on their bank\u2019s ATMs) shall be instantly reversed from the current timeline of three days.<\/p>\n

\u201cWhere instant reversal fails due to any technical issue or system glitch, the timeline for manual reversal shall not exceed 24 hours.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cRefunds for failed \u2018Not-on-Us\u2019 ATM transactions (where customers use their cards on other banks\u2019 ATMs) shall not exceed 48 hours from the current three to five days.<\/p>\n

\u201cResolution of disputed\/failed PoS or Web transactions shall be concluded within 72 hours from the current five days.<\/p>\n

It added that key service providers in the Nigerian payments system had committed to establish an integrated dispute resolution platform for the industry and enhance their payment system infrastructure and processes to reduce incidents of transaction failure.<\/p>\n

\u201cMembers of the public are therefore requested to refer to the updated guidelines for the operation of electronic payment channels on the bank\u2019s website,\u201d it stated.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria has directed all banks to resolve all outstanding issues relating to failed Automated Teller Machine, Point of Sale terminal and other electronic banking transactions within two weeks, starting June 8, 2020.<\/p>\n","protected":false},"author":6,"featured_media":22759,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[5300,36],"coauthors":[2391],"class_list":["post-40466","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-atm-transactions","tag-cbn"],"yoast_head":"\nBanks Has Two-Weeks To Resolve Outstanding Issues On ATM, E-Banking Complaints-CBN - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/banks-has-two-weeks-to-resolve-outstanding-issues-on-atm-e-banking-complaints-cbn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks Has Two-Weeks To Resolve Outstanding Issues On ATM, E-Banking Complaints-CBN - 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