1. We move the money from your account to NIBSS, the Nigeria Interbank Settlement Scheme, which is responsible for moving money between banks.
2. NIBSS sends two responses back to us one minute apart:
The first response lets us know if the money has gone through to the receiving bank or not.
The second response is a confirmation of the first response.
3. If the money gets to the receiving bank, it’ll show up in the beneficiary account.
If the money doesn’t get to the receiving bank, we’ll reverse it into your account automatically.
But it’s not always that simple.
Sometimes, NIBSS doesn’t give us a definite response that the transfer went through or did not go through. If this happens, we’ll keep trying to complete or reverse the transfer automatically for up to two hours.
If we can’t complete or reverse the transfer automatically within two hours, we’ll queue it for a manual reversal into your account.
If your transfer isn’t completed or reversed in two hours, feel free to report the transfer (tap the transfer in your account history then tap the Report This Transaction button) or send us a message on the app.