Ever had that experience where you try to access your NowNow account only to find it’s been temporarily restricted? We get it, it is frustrating. As a merchant, this affects your daily sales as you are unable to use your NowNow account. But before you get upset, let us walk you what causes NowNow Account Restriction and why it happens
What Can Cause NowNow Account Restriction
1. Suspicious Activity:
Lets say you usually use your account for small, everyday transactions like paying for groceries or settling bills. Suddenly, a large sum of money is deposited and transferred out quickly. If this happens repeatedly, our systems flag it as unusual.
Suspicious activity doesn’t always mean wrongdoing on your part. It simply means we’re taking steps to keep your funds safe from potential threats.
2. Compliance with Regulations
Like all financial institutions, we must follow the Central Bank of Nigeria (CBN) regulations. If your account activity raises concerns about fraud or money laundering, we may need to restrict it temporarily while we investigate.
It’s not personal, it’s about compliance and safeguarding your finances.
3. Protecting Your Interests:
At the centre of all our activities, our goal is to protect you and your money. Restrictions are proactive measures to prevent fraudulent transactions and ensure your money stays safe.
What to Do When Faced With NowNow Account Restriction
If this happens, don’t panic. We’ll always guide you through the process. Simply follow the instructions sent via email or in-app notifications. Most times, you’ll just need to verify your identity or provide additional information. Once confirmed, we’ll get your account back up and running as quickly as possible.
Read Next: What NowNow Sometimes Restrict Accounts
We know it can feel unsettling when your account is restricted. But remember, it’s not a punishment. It’s a precaution. Our priority is your financial safety, and NowNow account restrictions are one way we achieve that. So the next time it happens, stay calm, follow the steps, and trust that we’re working to protect your money. And of course, if you ever have questions, don’t hesitate to reach out, our support team via In-app chat; Call: +234 0700-066-9669
or Emal:customercare@nownow.ng. We’re always here to help.