‘Seven days it too long’ — Bank customers lament slow refunds after failed transactions

Bank customers across Nigeria have expressed frustration over delays in reversing failed transactions, describing the process as exhausting and unfair.

Speaking with NAN in Abuja, some customers said they were discouraged from pursuing refunds because the process was long, stressful, and often fruitless.

They urged banks to shorten the waiting period for resolving complaints from the current seven working days to no more than two days.

Gbenga Akintoye, a Guaranty Trust Bank customer, said the long queues at customer service points often deterred him from reporting failed transactions.

“Most times, the queues are so long that I just give up. I have forfeited about N10,000 to the bank this way. It is painful,” he said, urging banks to set up more complaint desks.

Chukwuemeka Victor, an Access Bank customer, called for more staff to handle complaints. He narrated how a transaction made through his bank’s mobile app failed, leaving the receiver without funds.

“The money was meant for medication, but the bank told me it would take three days to resolve. It is unfair,” he said.

Praise Adewumi, a First Bank customer, described repeated visits to banking halls as “frustrating”, while Olaedo Jones, a Zenith Bank customer based in the UK, raised concerns about small, unauthorised debits.

“They may be small, but when you multiply them across thousands of customers, it amounts to millions of naira,” she said.

Another customer, Tunde Adelabu of Stanbic IBTC Bank, urged lenders to work more closely with telecom firms to promptly resolve airtime-related debits.

Many of the customers appealed for faster, more transparent processes, stressing that customer satisfaction should be at the heart of banking services.