ATM dispense error – So I was prepared for the weekend on a very high spirit, activities were just too many to start mentioning, it has always been the practice to reach out for requisite funding ahead.
The endless queue at the terminal to say the least was most freighting, I exercised patience as there seem to be little or no other alternative in sight.
Like a magic wand, it gets to my turn, slot my card at the hardware, issued the command, in seconds I received a debit alert, in view of this I waited patiently for my cash to be dispensed, however, it never did.
Then I knew it’s not business as usual after I waited for more than an hour, unfortunately it was on a Friday evening, banks have closed for the week except for the very few who probably will be available for Saturday banking, for my bank it’s a see you next week affair.
What scenario played out here actually? ATM dispense error of course, otherwise called cash retract.
What is ATM dispense error
This is a situation where your account is debited to the tune of a given value, actually requested by you as withdrawal on an ATM/POS/WEB eventually you did not get cash dispensed to such effect, better say you will not receive value, despite debit being passed.
In view of this, if you’re a GTBank customer, had experience the above and probably looking for a way to solve this problem or log a dispense error yourself on the portal or other channels for timely resolution, do afford to read this piece to the very end.
How to log a dispense error complaint as a GTBank customer
You already know this is when your cash was not dispensed at the ATM or card transaction was declined /failed on a POS/WEB and there is no reversal after 24 hours.
You can effect this on the below platforms and get result as you deem fit.
- Log on to internet banking with your User ID and Password
- Click “Cards”
- Click “Dispense Error”
- Select the account and the channel which transaction occurred.
- Complete the displayed form with details of unsuccessful transaction
- Provide answers to your secret questions
- Click “Continue”
- Click “Submit”
- Insert your card in a GTBank ATM
- Select dispense error option on the ATM
- Select the account type current/savings
- Details of your last 5 transactions will be displayed
- Enter the STAN (6 digit) of the transaction
- Click on proceed.
- For Local ATM dispense errors that occurred on GTBank terminal, funds are reversed within 24 hours
- For Local ATM dispense errors that occurred on other bank’s terminal, funds are reversed between 5-8 working days
- International dispense errors are resolved in 45 days.
POS dispense error
This is an error that occurs when your account is debited for a transaction and value is not received. Your transaction failed at the point of making payments via POS/Web but your account is debited for the same value.
CBN policy on dispense error
In the event of irregularities in the account of an ATM customer, arising from the use of card on ATM, the following shall apply:
- All cardholders’ complaints should be treated within T + 3 from the date of receipt of the complaints; Acquirer must respond to issuer’s request within 2 days.
- Where records are falsified by any party, appropriate sanctions shall apply.
- Read more on CBN guidelines of electronic payment channels in Nigeria HERE.
How long does ATM reversal take?
As you can see above, on us transactions take about 24 hours to get reversed, while off us may take 5-8 working days. However, CBN says T + 3. That is the day it was reported plus additional three days at most irrespective of its nature.
Cash not dispensed from ATM but amount debited
This is the same thing as cash retract, while ATM dispense error was used to indicate that the ATM failed to transmit cash for a command to the given value.
Have questions and concerns, kindly use the comment box below.
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