AI agents for business finance: what they can and can't do
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The short answer
A transfer that has left your account but not reached the recipient is usually held by a network delay, a limit or restriction on the receiving account, or a failure between banks. Wait a short while, then ask the recipient to check with the 30-digit session ID; under a 2018 CBN regulation, a failed instant transfer not reversed within 24 hours of a complaint attracts a ₦10,000 fine on the bank. If your own bank does not resolve it, complain in writing and escalate to the CBN after two weeks.
Few things cause more stress than a debit alert with no matching credit on the other side, especially when you are standing in a shop or paying a landlord. In most cases the money is not lost. It is either still moving, sitting with the receiving institution, or on its way back to you. What you need is the right reference and a clear sense of when to push.
Why transfers get stuck
| Cause | What happens | Example from an official page |
|---|---|---|
| Network or processor downtime | The debit happens, the credit waits for the switch to recover | Moniepoint listed an instant payment processor downtime on 2 October 2026 |
| Recipient's account limit | A low-tier account cannot receive more than its cap, so the credit is held | Kuda: pending when the recipient has not upgraded or is over limit |
| Sender's verification | Your own BVN or KYC is incomplete, so the transfer is held | Kuda: pending when the sender's BVN is not confirmed |
| Restriction on the receiving account | A Post No Debit order or a compliance review blocks or delays activity | Moniepoint: simple KYC cases take about 24 to 72 hours |
| Wrong details | The money reached a different account; this is a wrong transfer, not a pending one | See our wrong-transfer guide |
Pending, successful or failed: read the status
Apps use different words, but the status usually falls into one of three states, and each needs a different response.
- Pending or processing
- Your bank has sent the instruction but has not had a final answer from the receiving side. Wait, keep the receipt, and do not repeat the transfer.
- Successful, but not received
- Your bank says the receiving institution accepted it. The trace now sits with the recipient's bank, so the recipient should query with the session ID.
- Failed or reversed
- The transfer did not complete. The money should return to your account; if it has not, that is a reversal complaint to your own bank.
Screenshots of a "successful" status mean the instruction left your bank, not that the recipient's account has been credited. That is why traders often wait for their own alert before releasing goods, and why confirming a transfer is a habit worth building on both sides.
While you wait
If you are paying a landlord, school or shop, tell them the money is pending and share the receipt and session ID. Most businesses that take transfers daily know the routine. Avoid sending a second payment from another account unless the recipient agrees to refund whichever one arrives twice.
What the rules say about reversals
The CBN's regulation on instant inter-bank electronic funds transfer services, effective 2 October 2018 as reported by ThisDay, set a fine of ₦10,000 on an institution for a failed instant transfer that is not reversed within 24 hours of a complaint by the sender or the beneficiary. That gives the 24-hour mark weight: once you have complained, a failed transfer should come back within a day.
Separately, the CBN's general complaint guide (January 2022) says your bank should acknowledge a complaint and issue a tracking number within three days, and that you should allow two weeks for resolution before escalating to the CBN Consumer Protection Department.
Steps and timeline
- First 30 minutes. Do not send the money again. Check your app for the status and save the receipt.
- Get the session ID. Every instant transfer has a 30-digit session ID. Moniepoint's support page tells customers to give it to the beneficiary so the receiving bank can trace the credit.
- Ask the recipient to query their bank with that session ID, the amount, date and time. Often the credit is found and applied.
- After 24 hours, if neither side shows the money, complain in writing to your bank. Moniepoint, for example, asks customers to contact support after 24 hours. Note the date and the reference you are given.
- Within three days you should have an acknowledgement and tracking number.
- After two weeks without resolution, escalate to the CBN; see how to complain to the CBN.
What to put in the complaint
- Your name, account number and phone number.
- The recipient's name, bank and account number.
- Amount, date, time and the 30-digit session ID.
- What you want: credit to the recipient or reversal to you.
- A copy of the receipt or debit alert. Never your PIN, password or one-time code.
If it is a hold on your side
If the transfer is pending because your own account needs verification, the fix is in your hands. Kuda tells customers to confirm their BVN and add a NIN slip or utility bill for transfers above ₦50,000. Other providers have their own tier steps; our guide to KYC tier limits explains the general structure.
Where Pryme fits
A disputed transfer often comes down to proof. Pryme customers can generate a verifiable receipt with VerifyDoc.ai, which the recipient or their bank can check is genuine and unaltered (receipts). It does not speed up the banks' investigation, but it removes arguments about whether a screenshot was edited; see whether a transfer receipt is proof of payment.
Questions people ask
How long does a pending transfer take to reverse in Nigeria?
Under the CBN's 2018 instant transfer regulation, a failed transfer not reversed within 24 hours of a complaint attracts a ₦10,000 fine on the bank. Many resolve faster; complain after 24 hours if nothing has moved.
My account was debited but the receiver did not get the money. What do I do?
Give the receiver the 30-digit session ID so their bank can trace it, then complain in writing to your bank if it is not found or reversed within 24 hours.
What is a session ID on a bank transfer?
A 30-digit reference that identifies an instant transfer between institutions. Banks use it to trace where the money is.
When can I report a pending transfer to the CBN?
After you have complained to your bank and allowed two weeks, or if the bank has not acknowledged you with a tracking number within three days.
Sources
- ThisDay: CBN announces fines for failed transaction reversals (instant inter-bank transfer regulation, 18 September 2018) · accessed Oct 2026
- Central Bank of Nigeria: How to Lodge a Complaint (CPD/GEN/GUIDE/03, 24 January 2022) · accessed Oct 2026
- Moniepoint Support: Transfers · accessed Oct 2026
- Moniepoint Support: Account Restrictions · accessed Oct 2026
- Kuda Help: Pending or hanging transfers (18 July 2024) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.