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23.05.2023 Social Justice PoS Withdrawal Failed, but Union Bank Didn’t Return N500,000 Deducted From Customer’s Account

Published 23rd May, 2023

By Joseph Adeiye

Chidi Eze, an Anambra resident, has told FIJ how Union Bank PLC refused to refund his N500,000 after a failed transaction over two months ago.

Eze told FIJ that he wanted to make a cash withdrawal of N500,000 when the transaction failed. FIJ saw that the bank deemed the N500,000 to be beyond Eze’s PoS transaction limit.

He exceeded the limit for a single PoS transaction but his money did not return to his bank account.

READ ALSO: Union Bank Holding On to Businessman’s N245,000 Since January

“I tried a transaction on a PoS and it was unsuccessful. My bank, Union Bank, debited me for that transaction on March 20 and the money did not return,” Eze told FIJ on May 9.

“I sent emails many times and even went to their office and they always told me to wait. They continued to tell me they were ‘on it’.

“I went to the Amawbia branch in Awka. They later told me to send a mail to the Union Bank headquarters.”

A receipt showing Eze's failed transaction
A receipt showing Eze’s failed transaction

READ ALSO: N63,000 Deducted From Union Bank Account Didn’t Get to Its Destination

A Union Bank representative told FIJ that the bank was investigating the N500,000 transaction.

“The transaction will be reversed once confirmed failed. Feedback will be provided once investigation of the transaction is completed,” Union Bank’s representative told FIJ on May 9.

Almost two weeks after Union Bank said it was investigating this transaction, the bank has given no feedback. Eze was yet to receive his refund at press time.

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Published 23rd May, 2023

By Joseph Adeiye

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