Have you ever used an ATM or a point of sale (PoS) to withdraw money and get a debit alert for a failed transaction? If you have, you are aware of the pain that results from not receiving the money you require right away and the worry that follows the knowledge that you might never get it again.
Many cash withdrawal techniques are available today to suit daily transactional, cautious, and speculative cash needs. The PoS is one of the few provisions that support a cashless economy, which several governments are pursuing.
But it’s afflicted by several inefficiencies, such as failed transactions or even a failed debit, which has frustrated a great many individuals who are at the mercy of wherever they’ve travelled to that already requires cash payments.
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Making a purchase with a credit card should be one of the quickest and easiest ways to get what you want without breaking a sweat. Problems arise, however, if the PoS machine repeatedly debits your account despite returning “failed” answers. Leave people confused and worried and even cause disputes between sellers and buyers.
Here are four things you may do if you run into a debit card problem at the point of sale (POS) or withdrawal (withdrawal) to avoid any unpleasant surprises.
How to fix POS failures
First, this is typical, so don’t be alarmed if someone attempts to defraud you, especially if you saw the receipt come out of the POS system. When a transaction fails, clients’ accounts are either not debited or are credited immediately.
Also, you must be aware that there are specific activities you can take depending on the bank you use; nonetheless, for the purposes of this post, we will discuss generic steps to take as a merchant and a client.
1. As a vendor
First, a vendor should never deliver his or her items before confirming a successful payment. Yes, the buyer may have been debited, and yes, you have not received a successful notification or advice.
Businesses must always have POS paper rolls accessible and in place for every transaction, as the customer’s bank will request the failed transaction slip as evidence.
2. As a customer
Collect the “failed” receipt from the merchant.
One of the most common mistakes people make when a debit or transaction fails is failing to keep the receipt or making a duplicate of the important information their banks may want. When filing a complaint, banks such as the United Bank of Africa (UBA) require customers to submit a photograph of the unsuccessful withdrawal receipt.
If you typically disregard the actual receipt of a failed transaction or destroy it when the refund has not yet been processed, you may want to reconsider. Nevertheless, if it’s via an ATM, Insert card; input PIN; pick more services; select “log a dispensing error.”
3. Photograph the receipt slip
If you have a smartphone, take a photo of the slip as soon as possible. This is because the print on the slip quickly fades away. If you do not have a smartphone, have a close friend with a smartphone take the photo.
4. Contact bank customer service
Contacting your bank to file a complaint via mail, phone call, social media with the “failed” slip, or even in person when you enter the banking halls is a crucial step to take thereafter. The matter must be resolved promptly, so you must act immediately.
Conclusion
After following these steps, you must wait to resolve your issue. If it doesn’t arrive within your bank’s period, contact them or visit a branch to file a formal complaint.
