First National Bank (FNB) has reversed duplicate virtual card transactions that appeared on some customers’ accounts over several days, following a settlement error involving a third-party acquiring bank.
In a statement to ITWeb, the bank says the duplicate transactions related to purchases made at various merchants and originated from a settlement file received from the third-party acquiring bank.
“The third-party acquirer has since submitted the reversals for these transactions which have successfully been processed,” FNB says.
The bank did not disclose how many customers were affected, or the total value of the duplicate transactions.
FNB says it is monitoring the remediation process and working to ensure customers did not suffer financial losses or damage to their credit records as a result of the incident.
“Our priority remains to mitigate the risk of affected customers experiencing any financial loss, or adverse credit record implications as a result of this incident,” it says.
The bank adds that it will continue to monitor the situation and provide support to affected customers.
Customers seeking assistance have been advised to call the number on the back of their bank cards, use Secure Chat on the FNB app or contact the bank through its other banking channels.
“We sincerely apologise to the affected customers for the inconvenience caused,” FNB concludes.
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