Check the Number of Days Bank Must Attend to Your ATM Dispense Error/Refund Complaint

ATM Dispense Error
ATM Dispense Error

The Central Bank of Nigeria (CBN), has released a new directive to further enhanced the quality of service in Banks, especially as it relates to quick refunds of customers whenever they experience failed transactions, ATM dispense errors or POS/Web disputes.

The CBN has revised the timelines for reversals and/or the resolution of refund complaints on electronic channels, with effect from June 8, 2020, they are as follows.

  1. Failed “On-Us” ATM transactions (when customers use their cards on their bank’s ATMs) shall be instantly reversed from the current timeline of three (3) days. Where instant reversal fails due to any technical issue or system glitch, the timeline for manual reversal shall not exceed 24 hours.
  2. Refunds for failed “Not-on-Us” ATM transactions (where customers use their cards on other banks’ ATMs) shall not exceed 48 hours from the current 3-5 days.
  3. Resolution of disputed/failed POS or Web transactions shall be concluded within 72 hours from the current five (5) days.
  4. All banks are directed to resolve the backlog of all ATM, POS and Web customer refunds within two weeks starting June 8, 2020

Members of the public are therefore requested to refer to the updated Guidelines for the Operation of Electronic Payment Channels on the Bank’s website ( for further details.