Top 10 Bank Transaction Problems (That Rarely Occurs) and How to Solve Them

It’s not news that mobile is the future that has already arrived at anyone reading this right now because I’m 80 percent sure you’re viewing it from a mobile device. No doubt, embracing the advancement in (mobile – information and communication) technology puts more time on our hands. At least, you won’t have to spend minutes or hours in a bank just to send money to your friend or family when you can simply do the same in seconds via Unstructured Supplementary Service Data (USSD) code or your bank mobile application.

Even businesses managed by smart entrepreneurs of the 21st century are thriving towards going mobile so as to remain relevant in our era where users prefer clicks and button press to get goods or services deliver to their doorstep. Chances are their business would soon run out of business or it will simply remain static if they don’t.

To this end as the cashless policy is put in place in most countries people just have to opt-in for the mobile banking system to make transactions easy and quick for themselves.

However, just like I was thought in computer school: Computers/Systems are (dumb without us) not as smart as you think they are. They are simply built to follow human instructions. If the maker can make mistakes how much more is that which is made to serve a purpose.

Don’t get it twisted, having issues with your mobile banking transaction doesn’t mean you won’t get your monies back. All you have to do is pull the right string and your bank will do their part to seeing that you get your money reversed or sent to an account of your choice.

Good thing you’re here (on the up spot) because you are about to be equipped with the knowledge of what to do when any of these top 10 mobile banking transaction problem occurs.


Here are how to resolve mobile banking transaction issues:


1.    Account name not displayed

Problem: You want to send payment to someone. But after you have type his/her bank account details to proceed with the payment you figured out his/her account name wasn’t displaying.

Solution: Contact that person and ask him/her to confirm that the account number you were given is correct. If it is then, choose “Not sure” from account type where you’ll see Current/Savings/Not sure and proceed with your payment.


2.    Multiple of Same Payment to Your Recipient/Beneficiary

Problem: You made a purchase and paid with a short (USSD) code or your mobile app. But you weren’t quite sure if your first payment was successful so you sent another. At the end of the day, all your payment to that recipient was successful.

Solution: Except it’s Christmas and you feel like giving out money. Don’t leave until you get your money transfer bank to your account because your bank might not be able to pull back that money without that person’s consent.


3.    Error in Transaction

Problem: You tried to send payment and you get an “Error in Process Transaction [XXXXXX]”

Solution: Wait for a few minutes before you try again. If that still doesn’t work then, you will have to wait for few hours or contact your bank via any of the phone numbers at the back of your ATM card.


4.    Network

Problem: Trying to send payment but because of network fluctuation it isn’t processed properly.

Solution: Hold on a bit, don’t rush into making a transfer that will not process successfully. If your mobile network or your bank service is fully active simply wait for a few minutes or hours before you give it a try again.


5.    Delay

Problem: You sent your payment via an approved/secured third-party channel (website or mobile application) and the recipient is yet to receive it.

Solution: Slow down a bit, your money will be sent. Just tell them to wait for an alert for like 24 hours before you send another after you have contacted your bank via the number provided at the back of your ATM card to know the status of your transaction.


6.    Failure

Problem: You make a payment via a USSD code or mobile application; it showed you failed to process or something similar but you still received a debit alert and receive claims his/her account have not been credited.

Solution: Chances are the money wasn’t sent. So, contact your bank as explained earlier to know the status of your transaction before you proceed with making another payment.


7.    Buying Airtime Instead of Sending Payment

Problem: You made a mistake of purchase airtime/credit to your phone number registered with your bank when you wanted to send payment.

Solution: You need to carefully follow the steps given in our earlier post that explained how to Get Airtime Reversed Back as Money in Your Bank Account When You Mistakenly Recharge


8.    A dispute between both parties

Problem: You are having a dispute over a particular transaction?

Solution: Provide bank statement that contains a list of all transaction on that day, week or month if possible and ask the other recipient to same from his/her bank.


9.    Payment reflecting ref number instead of payee name.

Problem: Payment was sent to you via an approved/secured third-party channel (website or mobile application) ref number only and someone is claiming responsibility.

Solution: Simply ask him/her to provide their payee name that their ref number of the transaction that should match yours otherwise contact your bank via the phone number provided at the back of your ATM card to know the payee and bank name where the money came from.


10.Delay in Alert

Problem: Someone or you sent payment and you are yet to receive an alert of the transaction.

Solution: To avoid calling someone to return your money simply check your mail to see if you have received a notification of the transaction to login to your bank online banking official website to check your bank statement otherwise contact your bank as usual.

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