Bank customers have expressed frustration over delays by some financial institutions in reversing funds after failed transactions.

Speaking to the News Agency of Nigeria (NAN) in Abuja on Sunday, customers described the experience as exhausting, discouraging and, in some cases, a loss of money to the banks. They urged banks to shorten the reversal period from seven working days to a maximum of two, to improve service delivery.

Mr. Gbenga Akintoye, a Guaranty Trust Bank (GTB) customer, recounted his ordeal and called on the bank to upgrade and expand its customer service points.

“Most times, the customer service queue is so long that it discourages us from lodging complaints. Because of this, I have forfeited money totalling about N10,000 to my bank. This is painful,” he said, urging banks to create at least four dedicated complaints desks.

Similarly, Mr. Chukwuemeka Victor, an Access Bank customer, stressed the need for banks to employ more staff. He said existing workers were overwhelmed.

“I carried out a transaction through my banking app, and my account was debited, but the beneficiary never received the money. When I complained at the bank, I was told it would take three working days to resolve. The receiver needed the money for medication, but the reversal is still pending,” he lamented.

Mrs. Praise Adewumi, a First Bank customer, described the multiple visits to bank halls for failed transaction reversals as frustrating.

“The banks usually say they need time to investigate and trace where the money went. I agree, but sometimes it feels like they never actually find it. You wait endlessly, and the money is never returned,” she said.

Mrs. Olaedo Jones, a Zenith Bank customer resident in the United Kingdom, urged banks to prioritise customer satisfaction.

“Sometimes, I receive debit alerts for transactions I never initiated. The amounts may be small, but if such deductions happen to 1,000 customers, the sums run into millions of naira,” she noted.

Another customer, Mr. Tunde Adelabu of Stanbic IBTC Bank, appealed for better coordination between banks and telecommunications companies regarding airtime purchases. He said banks must clarify who is responsible when money is debited but airtime is not delivered.