Contents of a Genuine ATM Receipt in Nigeria

Contents of a Genuine ATM Receipt in Nigeria

Contents of a Genuine ATM Receipt in Nigeria. Daily Law Tips (Tip 291)

By Onyekachi Umah, Esq., LLM. ACIArb(UK)

Due to developments in electronic payment system across Nigeria, the Central Bank of Nigeria approved a format for every physical and electronic records of transactions in Nigeria from any transaction channel including ATMs, POS, Internet Payments, Mobile Payments, Physical Branch or agent.

The approved receipt formats are sufficient proof of transactions in Nigeria and as such all financial institutions must provide customers with only approved receipts.

An approved receipt from an Automated Teller Machine (ATM), must contain the following;
1. Name of the Service Provider
2. Location/Terminal Identity
3. Transaction Identity
4. Date of transaction
5. Time of Transaction
6. Transaction type
7. Sequence Number
8. Account Name
9. Amount
10. Personal Account Number (PAN) (But should be Masked)
11. Card Type
12. Account Type
13. Reference Number

References;

Sections 47(4) of the Central Bank of Nigeria Act, 2007 and Approved Format of Evidence For Electronic Transactions, 2013.

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Feel free to reach the author, ask questions or make inquiries on this topic or any other legal issues via onyekachi.umah@gmail.com or +2348037665878.

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