Consumer Rights: What to do if Nigerian bank debits you wrongly

Bank debit is normal whether you’re charged for something or you send money to someone, and it was successful. However, it becomes worrisome when you’re debited, but the purpose is not fulfilled.

However, in some cases, for a failed transfer, money gets reversed automatically, or a pending transaction that the recipient has yet to receive, and money has been deducted from the sender’s bank account. This is a very common issue with digital banking. 

A pending transfer actually means your bank has removed money from your account, but the receiving bank has yet to confirm it. It could be a general network problem, or the banking network is still processing your transaction. However, when the system is overloaded or slow, your bank can debit you.

It is your right to get refunded within 48 hours, especially for failed Automated Teller Machine (ATM) transactions, delayed funds, and unauthorised deductions. An unusually large money transfer can remain pending in order to verify the transaction. Above all, when you’re wrongfully debited, these are what you should do:

Check your transaction status

Immediately you receive your bank debit alert, check your transaction status if it is failed, pending, or reversed. 

If you’re yet to receive a confirmation from the recipient and your money has been deducted, take a screenshot showing the time, reference number, and the debit amount. 

Confirm with the recipient

Confirm with your recipient if he or she has received the money. That is after your bank debit alert. At this juncture, you’re not expected to resend the money, wait for a reversal, or until the receiver gets it or else involve your bank.

Contact your bank

You can call, send an email, or send any other type of message, or even visit in person one of their branches. In your message or complaints, state the amount, time, and date your money was debited without reversal. At this juncture, you have to be patient with them.

Wait for the reversal 

After you have complained, it shouldn’t take them more than 48 hours before you get your money back. If not, you have to revisit it. Nonetheless, your money will be reversed since there is convincing evidence that it is yours.