One could hardly open any social media platforms, especially Twitter and Facebook, without reading some people calling out their banks as they vent over one failed online or remote banking transaction or another. One wonders if e-payment solutions are a blessing or a curse.
The failure rate of banking transactions, which hovers between 11 and 18 percent (NIBSS Plc) is significant, going by the volume of the transactions (N65.3 trillion in the first half of 2018, according to NBS) and frustration that comes with each failed transaction — when funds are deducted but not sent to the intended beneficiary, the ATM card ‘swallows’ your card, no network at terminals, debits are made by the ATM and cash not dispensed etc.
Our option of going back to the ‘good old days’ when we had to stop whatever we are doing to go spend hours in the banking hall just to make the simplest transactions seems even more harrowing. Having chosen the e-payment options, customers should learn the dynamics of e-payment solutions — parties involved, reporting channels, resolution timing etc so as to ensure a record-time resolution of the issues and save the customer the feeling of helplessness that befalls uninformed customers in similar situations.
I used to feel like this and rant on social media, cursing Ecobank and any bank that owns the ATM that I happened to use at the time of the failed transaction. A follower on twitter opened my eyes, when he sent me the Ecobank link. Funny, all the information on that link were routinely sent to me by Ecobank but I never read them. I used to see those emails and SMS from Ecobank as a distraction.
When I followed the steps recommended, my issue was resolved in a matter of hours. This was unlike before when I had to wait for days to go to my bank to have the issue resolved. Today, whenever my transaction fails, I know where to go, what to do and a fair idea of when to expect resolution. I no longer vent on social media over failed banking transactions.
So, I enjoin customers in this year’s Customer Service Week (October 7–13) to also learn and follow the recommended reporting channels to get their failed banking issues resolved.
