Oyetunji Abioye
One of the most frustrating challenges bank customers in Nigeria face is the Automated Teller Machine cash dispense error. It is one problem most customers detest to have. Often times, some bank customers go to withdraw what can be regarded as their last savings through the ATM and get stuck with the cash dispense error.
This is never a palatable experience. The arrival of the ATMs in Nigeria is meant to make life easier for customers and the banks alike. However, the ATM cash dispense error is one downside that customers have to live with, at least till the level of infrastructure improves in the country. The ATM dispense error also occurs in advance countries but not as frequent as we have it in Nigeria.
The convenience of getting cash on the go has made many bank accountholders to embrace the usage of payment cards. And as such, the issue of the ATM cash dispense error has been on the increase. It is, however, important to know how to resolve the ATM dispense error with ease.
What is ATM cash dispense error?
The ATM cash dispense error is a situation where the machine debits (removes money from) your account without actually physically dispensing the cash.
Sometimes, some machines dispense incomplete amount of cash.
Here are a few of the reasons why we have the ATM dispense error:
- Information and Communication Technology problem: Often times, there is always a link or communication problem between the ATM and your bank’s server. This lack of connectivity occasioned by downtime or other factors may lead to the ATM dispense error.
- Cash jam: There are times when wads of cash jam in the machine. This sometimes happen when the machine is counting the cash preparatory to dispensing it.
- Physical machine fault: There are times the ATM itself develops faults. This usually makes the machine to malfunction and causes problems, including the cash dispense error.
- Power outage: The ATM is programmed to survive on an Uninterrupted Power Supply device. There are times the UPS fails, or for one reason or the other, runs out of power suddenly. This can lead to cash dispense error.
Steps to resolving ATM cash dispense error
When an ATM cash dispense error occurs, there are steps to take to resolve it. One is to know that you cannot make a report to your bank until 24 hours after the botched transaction. Banks advise customers to wait for 24 hours because the error is expected to correct itself within that period. A customer can only make a report when the ATM fails to do this within 24 hours.
There are many cases where the machines do the reversal. Most times, the ATM does the reversal almost immediately but in case it fails to do so, the bank will not entertain any request for reversal until after 24 hours. For customers who rely on such cash for immediate use, this can cause a lot of inconveniences, especially if not auto-reversed immediately. However, if the machine does not auto reverse the deduction within the 24-hour period, here are the steps to take:
Visit your bank branch
Visit any branch of your bank and fill a dispense error complaint form in which you will be asked to give details of the failed transactions. The filled form is used internally by the bank to verify and reverse your money within 24 to 48 hours. If this error happened on the machine of your bank, it does not take much time to resolve it. However, if it happens on the ATM of another bank, it takes more days as it involves inter-bank communication. It may take up to a week or some times more. In this case too, you will still visit your bank and not the ATM owner bank, to fill the form. The difference is just that in this case, the form/complaint cannot be handled internally by your bank. Your bank will have to forward it to the head office where the inter-bank communication will take place. Hence, it takes a longer time.
Follow up
Sometimes, you may need to do a follow-up with a visit to any of your bank’s branches. Instead of visiting your branch, you may do the follow-up with a telephone call to the call centre of the bank. You may also send an email to the designated email address of your bank. It is recommended that you follow up with calls if your complaint is not resolved in the shortest time. So, whenever, you have an ATM cash dispense error, do not panic, just follow the due process, and you will get your money back soon.
Complain to the Central Bank of Nigeria
The Central Bank of Nigeria has directed banks to resolve ATM cash dispense errors within stipulated timelines. Should the bank be delaying more than necessary, you can escalate your complaint to the CBN by writing to its Consumer Protection Department. This can be done through an email on the CBN website, www.cenbank.org.
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