SEIZURE ERRORS

CASH AND CARD SEIZURE ERRORS

Most cash dispense and card seizure errors on ATM terminals are usually system related e.g when the internet link is sluggish or down or when your bank server is unstable or when there is no cash in the ATM machine, there will always be issues. However, it is the way the acquiring banks [the owner of the ATM] responds to dispense and seizure errors when they occur that separates the world class banks from the local banks.

The key here is quality of services. The industry standard is that dispense errors should not exceed 24 hours before they are corrected. In any case, most time when machine processes your transactions without paying you cash, it will re-credit your account within 24 hours, meaning by the following day when the bank server has been booted, all wrong debits to your account would have automatically be corrected.


Unfortunately, there are some that the system does not auto correct and for this you would have to sort it out manually with your banks or card’s providers as the case may be. The problem with manual correction is due to the fact that investigations would have to be carried out to ascertain the genuineness of your claims by getting confirmation from their head office, Interswitch or other member banks [if you use the card on another banks ATM aside from the one where your account is domiciled].If satisfied, the bank would credit your account back and the problem is that this may takes days or weeks before it could be resolved. In this instance, for your account to be timely re-credited or settled, you must lodge a complaint.
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