POS debit


POS debit- My bank account was debited but the agent couldn’t pay me, see how to get your money

POS debit – Accessing financial services via merchants and agents spots is undoubtedly a time saver. Transaction processing are usually swift and timely that you can’t afford to queue up in the bank.

Personally, I’d better pay up the charges at the agent shops than see any of those unfriendly faces at the counter in banking hall, who always frown as if you’ve come to ask for free money at every point of call.

This cold attitude makes me think each time I visit a branch on why the banks haven’t considered a front desk reorientation for their staff, can assure you it’s a uniform attitude across banks.

Read also: How to make POS transaction without your ATM card

With that out of the way, if you’d by any means visit a POS spot and your bank account got debited while the agent was trying to process your transaction, yet you couldn’t get paid, this guide will help you to solve this problem.

Why POS debit without payment?

You may be debited without getting paid for a number of reasons which include but not limited to

  • Network downtime by the card issuer or acquirer
  • Card malfunction
  • Account under restriction, etc.

The idea here is when it happens do not panic or make trouble whatsoever. Kindly obtain the receipt/print out of the transaction details.

How to reclaim money for a POS dispense error/POS debit without payment

Once you run into this situation, you are expected to wait for at least 24 hours for a possible reversal of such fund back into your bank account. Where a reversal does not happen kindly visit the issuing bank.

The issuing bank here is the bank whose ATM card you are using, some persons are in the habit of visiting Acquirer which is the bank who owns the POS machine.


Assuming Mr. Benson Oke who has a GTBank ATM card tries to withdraw some funds from a POS/agent location powered by Polaris bank and he eventually gets debited without being paid.

Mr. Benson Oke is expected to visit GTBank for possible resolution and not Polaris bank. GTBank is the card issuer while Polaris bank is the acquirer.

Requirements for resolution

While visiting your bank for resolution, kindly go along with your

  • ATM card to which the transaction was effected from
  • Date of the transaction
  • Transaction dispute receipt/print out

Having arrived at the branch kindly locate the customer service desk and inform the officer about your issue. After a few conversation on the transaction details you will be required to complete a dispense error form.

In the dispense error form you will be required to complete the following

  • Complete name
  • Phone number and email address where applicable
  • Your card first 6-digit and the last 4-digit numbers. The card number here is the 16-digit Primary Account Number (PAN) crested on your ATM card.
  • Transaction date
  • Transaction amount
  • Signature, etc.

Read also: How to become a Momo agent in Nigeria 2020/2021

Having complete this form, return same to the customer service officer who in turn keys in on the portal. Having keyed in you will receive an SMS alerting you about the transaction and how many working days it’ll take to revert.

What you should know

Your bank will have to log on the complaint against the acquirer, if the acquirer goes through its log and find such transaction, they will give their consent and the said amount will be credited back to your bank account.

The timing is usually within 7 working days, in some cases it could go one month and above.

I’ve had a transaction that lasted over 2 months even. All said, you are required to be patient.

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