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Banking Tips

How to resolve ATM Dispense Error with your Bank

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Dispense error refers to a situation where an ATM machine debits a customer’s account without presenting cash or completing a transaction. This is an error that occurs while a customer is trying to withdraw from his or her account using the ATM terminal. This could be as a result of various factors, such as network hitch, power outage, faulty ATM terminals etc.

In some cases, an ATM should auto-reverse a dispense error immediately and auto reversal should take place within 24 hours. Where auto reversal did not occur at all, an ATM dispense error can cause a lot of inconveniences to a cardholder especially considering the fact that you need cash, your account has been debited and you now have to follow up to ensure that your ATM dispense error is resolved. Some times this follow up can be time consuming and frustrating. ATM dispense error can be Partial error or Cash Not Dispensed.

PARTIAL ERROR

This refer to a situation where a customer’s account was debited for the intended amount but a lower amount of cash is presented to the customer.

This is a scenario where a customer is underpaid or short paid the amount he or she applied for. That is, a customer applied for the sum of N 10,000.00 with his card from the ATM, the terminal instead pays the sum N 5,000.00.

CASH NOT DISPENSED

This is a situation where the customer’s account will be debited for the intended cash but cash will not be presented at all. It is also refer to as total dispense error. Where what was applied for was not dispensed at all.

For prompt resolutions of your dispense error complaints, kindly follow the steps below:

SAME BANK ERROR 

This refers to an error that occurs in your bank’s machine, that is Zenith card on a Zenith Machine.

The resolution period for same bank dispense error is 24 hours.

Steps to take to resolve same bank error.

  • Step 1 Fill the dispense error form in your bank or do it online as the case may be.
  • Step 2 Escalate your error to highest officer in the bank if your issue is not resolved within 24 hours.
  • Step 3 If step two does not work out, then write a letter of complain to CBN for appropriate resolution.

OTHER BANK ERROR

This refers to an error that occurs in other bank machine, that is Zenith card on GTB Machine.

The resolution period for other bank error is 7 working days.

Steps to take to resolve other bank error.

  • Step 1 Fill the dispense error form in your bank or do it online as the case may be.
  • Step 2 Escalate your error to highest officer in the bank if your issue is not resolved after 7 working days.
  • Step 3 If step two does not work out, then write a letter of complain to CBN for appropriate resolution.

N.B

All unresolved dispense error complaints can be channeled to CBN via email cpd@cbn.gov.ng, contactcbn@cbn.gov.ng (website, www.cenbank.org.) or written letter addressed to the Branch Controller of any location you reside.

Finally, if the bank insists that the cash was presented, the customer should request for a camera footage for the transaction. If this request can not be obliged to, then the bank where the error occurred should be held liable for the for the amount involved.

 

 

 

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Banking Tips

The easiest way to log dispense error with gtbank

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Guaranty Trust Bank has gone another step further in trying to discongest their banking premises while also ensuring that their customers are satisfied at all time. They have been able to achieve this by dishing out a robust internet banking/mobile banking platform, SMS banking, cardless withdrawal, finger print withdrawal. Also taking the lead as the number one bank in Nigeria to start the USSD banking transactions.

They have gone one step ahead to ensure that their customer log their dispense error complain themselves without necessarily visiting the bank. Although, you can also report your dispense with other banks without visiting the bank but this can only be achieved via your internet banking/mobile banking profile or through their call center

Do you have a dispense error with gtbank, not a challenge, follow the link below to log your error.

https://gtmt.gtbank.com/DispenseWeb/start.aspx

See other ways of how to report your dispense error.

Website

Click help centre-how to log a dispense-report dispense error.

 

Gtbank ATM

(With card)

Insert card-enter PIN-select more services-select log a dispense error

(Without card)

Press any key on the ATM, select Log a Dispense Error and follow the prompts

 

Internet Banking/Mobile Banking

Log in-Click cards-Dispense

 

GTConnect

Dial 08039003900, 08029002900, 01-4480000 and press 1 for self service option

 

Please note that your bank will never request for your PIN, Password, Card details or Token. Kindly ignore any email, SMS or call requesting for those details.

 

 

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Banking Tips

How to avoid fraudulent transactions on your account

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So many Nigerians have fallen victim to fraudster because of their ignorance. It is worthy to note that your bank will never request for some vital information from you, either through call, SMS or email.

It is very important for you to understand that your personal details like PIN, Card number, CVV, Internet banking User ID, password and Token code are for your personal consumption and are not meant to be shared with anybody including your bankers or account officers. To keep your account safe, please ensure you do not share any of your account details with anyone.

As highlighted above, here are some vital information that can cause loss of funds in your account, if compromised.

  • PIN: This is an abbrevation for Personal Identification Number. This can be your ATM PIN, USSD PIN, Mobile banking PIN etc.
  • Card Number: This refers to the numbers in front of card, whether it be mastercard, visacard or verve.

See example of card details below, the highlighted numbers from 7253 – 1245

  • CVV: This is an abbrevation for Card Verification Value. This is usually a 3 digits number at the back of  your card.

See example of CVV number below:

  • Internet Banking User ID : This refers to your unique number, code or your email, depending on your bank. It is uniquely attached to only you. It can be your account number, phone number, email address, this is usually determined by your bank.
  • Password: This is a secret word, phrase or characters that allow you access to your account.
  • Token: This is a small hardware device that the owner uses to authorize his or her transaction. It is an authentication device that helps in protecting you from internet banking frauds.

See a typical token device below:

Please ignore any call, SMS or email requesting for the above details.

 

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Banking Tips

How to block your Zenith bank ATM card if stolen or lost

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The issue of stolen ATM card in Nigeria has become an everyday occurence. Some banks like Zenith bank has brought about innovations that allow you block your account or card at the comfort of your home.

See below, the various options available to you as a Zenith bank customer, if your card is stolen or lost.

 

Internet Banking/Mobile banking Option

  • Log into your internet/mobile banking profile
  • Click on the menu bar and select Cards and Cheques
  • Select deactivate card and enter a reason
  • Then click on continue.

 

Protect Code/Deactivate Account

  • Simply dial *966*911# from any mobile phone.
  • Enter your account number
  • Enter your SMS alert number
  • Then press 1 to continue

After following the protect code option, your account will be blocked instantly. To unblock your account, simply visit any Zenith bank branch.

 

Email Option

Please note that to achieve prompt result with this option, it is advisable you use your registered email with the bank. That is, the email address you receive email notification on.

 

Call Option

  • Simply call +234-1-2787000, +234700ZENITHBANK, +234-01- 2781740 or +234-01- 2782273.

So do not allow frauster or thieves gain access to your account, simply embrace any of the above option to block your account or your card, if your card is stolen or misplaced.

Please note that your bank will never request for your PIN, Password, Card details or Token. Kindly ignore any email, SMS or call requesting for those details.

 

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