POS Dispute

Understanding POS Disputes and How to Resolve Them

At The Alternative Bank, we prioritize your financial security and satisfaction. 

A Point of Sale (POS) dispute occurs when a customer notices an issue with a transaction processed via a merchant's POS terminal. This article explains what POS disputes are, common scenarios, and how to resolve them.

What is a POS Dispute?

A POS dispute arises when there is an issue with a transaction conducted through a POS terminal. Some common scenarios include:

• Failed Transactions: Your account is debited, but the transaction was not successful (e.g., you did not receive the expected receipt or confirmation).

• Duplicate Transactions: The same transaction is processed more than once.

• Refund Not Processed: A refund promised by the merchant has not been credited to your account.

• Unauthorized Transactions: When your card is charged without your consent.

• Incorrect Charges: The transaction amount does not match what you agreed to pay.

How to Raise a POS Dispute

If you notice an issue with a POS transaction, follow these steps:

1. Verify the Transaction
   Check your bank statement or mobile banking app to confirm the details of the transaction.

2. Contact the Merchant
   Many disputes can be resolved directly by discussing the issue with the merchant.

3. Notify Your Bank
   If the issue persists, raise the dispute with us through any of the following channels:

   • Email Support: help@altbank.ng

   • Customer Care Hotline: 02017000555

   • Visit an Outlet: Our Delight Officers are available to assist you.

Submit Relevant Information.
To facilitate swift resolution, provide relevant document, such as:

• Proof of the transaction (e.g., a receipt or screenshot).

Please you can also send the below details to help@altbank.ng

1. Date of Transaction
2. Amount
3. Account Name & Number

Tips to Avoid POS Disputes

While we are always here to help, you can take these precautions to minimize the likelihood of disputes:

- Always review the transaction amount before authorizing payments.

- Keep all receipts for your transactions as proof.

- Report lost or stolen cards immediately to prevent unauthorized use.

- Regularly monitor your bank account for any unauthorized or suspicious activity.

Alternative Bank