A Polaris Bank customer has raised an alarm over an unresolved failed transaction, accusing the bank of prolonged delays despite repeated assurances that the issue would be resolved.
According to the customer, the incident dates back to December 6, when a sum of ₦20,000 was transferred using the Vulte app to a First City Monument Bank (FCMB) account. The customer alleged that although the account was debited, the funds never reflected in the destination FCMB account.
Expressing frustration over the delay, the customer claimed that Polaris Bank has continued to give assurances without effecting a reversal or successful completion of the transaction. “U have been given me hope since 6th of December, I transferred 20,000 with my vulte app to my fcmb account u debited me and the money did not reflect in my fcmb account,” the customer said.
The customer further warned that failure to resolve the issue before the end of the month could lead to drastic action. “If the money is not reversed back this December I will block the account,” the complaint added.
The allegation has drawn attention to recurring complaints by bank customers over delayed reversals and unresolved failed electronic transactions, which have become a common concern in Nigeria’s increasingly digital banking environment.
Industry observers note that such delays, when not promptly addressed, can weaken customer confidence and highlight the need for stronger dispute resolution frameworks within the banking sector.
As of the time of filing this report, Polaris Bank had not issued an official statement addressing the specific allegation, leaving the customer awaiting resolution.
The situation underscores growing calls for improved customer service responsiveness and accountability among financial institutions as electronic transactions continue to dominate everyday banking in Nigeria.
