Sending money with NALA is a fast and convenient process. Unfortunately however, NALA cannot guarantee a refund/reversal for completed transactions.
Whilst NALA will immediately raise a reversal with our partners when requested, the success of that reversal is dependant on our payout partners and the required criteria for the transaction to be reversed. This includes some or all of the following criteria to be met:
The availability of funds in the recipients account
The consent of the recipient
The discretion of the bank
When these criteria are not met, a reversal very unlikely to be successful. We will be doing everything we can from our end, but also encourage our customers to make efforts to reach out to the recipient and bank directly to expedite the process.
Timelines
From experience, we know that a reversal is most successful when it is raised immediately after the erroneous transaction has been made. Success rate however decreases significantly with time and after a few days the success rate is very low. This is often because the recipient has withdrawn and utilised the funds from their account, making it impossible to reverse them.
With respect to this, we have outlined the following timelines for how long we will chase a reversal request with our partners:
Reason for reversal | Definition | Maximum time permitted for reversal request |
Fraudulent activity | When a customers account has been used for fraudulent activity such as stolen credit card, APP fraud and payment scams. | 30 days |
Goods not provided | When a customer has paid for a service but not received what was due. | 30 days |
Incorrect recipient | When a customer has accidentally sent funds to an incorrect bank account of mobile money wallet. | 30 days |
Duplicate | When a transaction has been duplicated by accident | 30 days |
Once the prescribed timeline has elapsed, the reversal case will be close and you, as the customer will be informed.
We provide these timelines in order to give more transparency and honesty for reversal expectations, and to prevent drawn out proceedings with our customers where it's unlikely a resolution will be reached.
In the very rare case where a reversal has been successful many months after the transaction was initiated, we will inform the customer and refund them directly.