To ensure your deposits in Squads are processed seamlessly, it’s crucial to follow certain guidelines. Overlooking these rules can lead to delays or complications. Here are some common mistakes you might make and tips on how to avoid them:
Your deposit might fail under the following circumstances:
- Duplicate Deposits: If you attempt to deposit money into the same account number more than once, the transaction will fail. This measure helps prevent duplicate transactions and errors.
- Incorrect Amounts: If the amount you deposit is different from the specified amount (either less or more), the deposit will not be processed.
- Below Minimum Amount: Deposits less than the minimum amount of ₦200 will not be accepted. This ensures efficient processing and management of transactions.
- Deposit Times: Each generated virtual account stays active for 30 minutes. Once the time expires, deposits into that account will fail, and you'll need to generate a new one.
Refund Process for Failed Deposits:
- If your deposit fails, you will be issued a refund. However, please note that the refunded amount might be less than your initial deposit due to the processing fees charged by some banks and payment providers. This processing fee covers the cost of the transaction.
- Processing Time: The refund process is complex and may take between immediately to 5 working days to be completed. This timeframe accounts for the thorough checks and procedures required to ensure the refund is processed correctly.
We understand that this can be an inconvenience, and we greatly appreciate your patience and understanding during this process. Our team is committed to providing you with the best service possible, and these measures are in place to ensure the security and efficiency of your transactions.
If you have any further questions or need assistance, please feel free to reach out to our customer support team. We are here to help you.