Fidelity Bank releases new guidelines for reversal of failed electronic transactions

The Fidelity bank of Nigerian has released new guidelines for reversal of failed electronic transactions.

In the statement sent across to their customers, they revealed that the new changes will start from Monday.

Also, they said the new guidelines are in line with the Central Bank of Nigeria guidelines on electronic transactions.

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However, See the statement below.

Commencing Monday, June 08, 2020, new guidelines for reversal of failed electronic transactions in line with the new CBN guidelines will take effect.

 

Thus, kindly see below the new reversal timelines:

 

1. Reversal of failed transactions using your Fidelity Bank card on a Fidelity Bank ATM which currently takes 3 days, will now be instant. In the event of a technical failure, the reversal will not exceed 24 hours.

 

2. Reversal of failed transactions using your Fidelity Bank card on other banks’ ATMs which currently takes 3–5 days, will now be within 48 hours.

 

3. Reversal of failed POS or Online transactions with your Fidelity Bank card which currently takes 5 days, will now be within 72 hours.

The bank has 4 + million customers across the country.

They currently has over 400,000 diverse shareholders

Furthermore, it is said they have over 240 business offices.

According to BGL Plc, Fidelity Bank Plc had a market capitalisation of NGN:37,072,109,685.76