I&M to pay clients for failed RTGS transactions

I&M Bank has committed to pay clients up to Ksh1,250 for failed international transactions made through the Real Time Gross Settlement (RTGS) in a bid to inspire confidence among its customers.

RTGS transactions are typically concluded within two hours and the move is meant to deepen customer service guarantee for customers initiating payments via the bank’s mobile and web platforms.

“The initiative will drive ownership and accountability to ensure that the bank’s processes are efficient enough resulting in customer instructions being processed within the agreed timelines”, the bank said in a statement.

For local payment that is not concluded in time will see a customer receive compensation of Ksh500.

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