Seeing an incorrect loan amount on your loan app is more than just a glitch; it’s a financial risk. In Nigeria, where digital lending is prevalent, such errors can lead to unexpected debt or denied funds. This guide provides expert tips and a step-by-step process to resolve this issue swiftly.
We’ll explain why apps like FairMoney, Branch, or Carbon might display wrong figures, from system bugs to hidden fees. More importantly, you’ll learn proven methods to correct the amount, safeguard your finances, and ensure you only borrow what you can repay. Let’s fix this critical problem.
Requirements / What You Need
Before you begin the process of correcting a wrong loan amount, gather the following. Having these ready will speed up resolution, especially when dealing with customer support.
- Your Registered Phone Number & Device: Use the exact phone number and smartphone you used to register on the app. Many apps tie your account to your device’s IMEI.
- App Login Details: Your PIN, password, or biometric login must be working to access your account dashboard and transaction history.
- Screenshots as Evidence: Take clear screenshots or a screen recording showing the wrong loan amount on the offer screen, in your dashboard, and on any repayment schedule. This is your primary proof.
- Previous Loan Statements: If you have an existing loan, have your last repayment receipt or statement handy. This helps agents track your account history.
- Stable Internet Connection: A poor connection can cause display errors. Try switching between Wi-Fi and mobile data, or visit a reliable cyber café if your home network is unstable.
- Patience and Time: Resolving this with customer service can take from a few hours to several days. Be prepared for follow-up calls and emails.
Important Note: There should be no fee charged by any legitimate loan app or its support staff to “correct a system error.” Any request for payment (e.g., ₦500 or ₦1,000) to fix this is a red flag for a scam.
Step-by-Step Process
Step 1: Force Close and Restart the App Completely close the loan app from your phone’s recent apps menu. Then, restart your phone. This clears temporary cache that might be causing a display glitch. After restarting, log back in and check if the loan amount is now correct. This is the quickest fix for minor software hiccups.
Step 2: Clear the App Cache (Android) or Reinstall (iPhone) For Android users, go to Phone Settings > Apps > [Loan App Name] > Storage > Clear Cache. Do NOT select “Clear Data,” as this will log you out. For iPhone users, uninstall and then re-download the app from the App Store. Log in again. This refreshes the app’s local files without deleting your account.
Step 3: Check Your Internet and Update the App A slow or fluctuating internet connection can cause the app to load incomplete data. Switch from Wi-Fi to your mobile data (or vice-versa) and reload. Next, visit the Google Play Store or Apple App Store to see if there’s an update available for the app. Install any pending updates, as they often contain bug fixes.
Step 4: Document the Error with Screenshots If the error persists, start gathering evidence. Take clear screenshots of every relevant screen: the loan offer page showing the wrong amount, your account dashboard, and the repayment schedule. For a clearer record, use your phone’s screen recorder function. This evidence is crucial for customer support.
Step 5: Contact Customer Support Directly Go to the app’s “Help” or “Support” section. Use the in-app chat or email—avoid random numbers on social media. Send your screenshots and a clear description: “The app is showing a loan offer of ₦150,000, but I applied for and was approved for ₦100,000.” Include your registered phone number. Be prepared for delays; responses can take hours or even a day.
Step 6: Do NOT Accept the Incorrect Loan Offer This is the most critical step. No matter the pressure or urgency, never accept or disburse a loan showing the wrong amount. Accepting it is a binding agreement, and you will be legally required to repay the higher amount plus all associated interest and fees, as per the loan agreement you sign.
Step 7: Escalate Formally if Unresolved If support is unhelpful or the issue isn’t fixed in 48 hours, escalate. Send a formal email to the lender’s official address (find it on their website or Google Play Store listing). State the issue, your attempts to resolve it, and attach all evidence. Mention that you will report the matter to the Federal Competition and Consumer Protection Commission (FCCPC) if unresolved, as they regulate digital lenders in Nigeria.
Alternative Methods
If the standard in-app support process fails, you have other effective channels to pursue a resolution. The best alternative depends on the lender’s responsiveness and the severity of the error.
For formal and urgent escalation, lodge a complaint directly with the Federal Competition and Consumer Protection Commission (FCCPC). You can do this online via their consumer portal or visit their offices in major states like Lagos, Abuja, or Rivers. This method is highly effective for licensed lenders under their Digital Lending Guidelines and is best when you suspect predatory practices or a complete refusal to correct a significant amount discrepancy.
For immediate, in-person clarification, visit a bank branch if the loan app is operated by a traditional bank (e.g., QuickCredit by GTBank, QuickBucks by Access Bank). A customer service officer at the branch can sometimes escalate the technical issue internally faster than the app’s digital support. This option is better when the wrong amount is tied to your bank account or you need an immediate official record of your complaint.
Common Problems and Solutions
Problem: App Shows “₦0” or “No Offer” After Approval SMS
You receive an SMS from a lender like FairMoney or Aella Credit approving a specific amount, but the app dashboard shows zero or no offer. This is a common sync failure.
Solution: Log out of the app completely, wait 10-15 minutes, and log back in. If it persists, contact support and forward the approval SMS as proof. Do not apply again immediately, as multiple applications can lower your internal score.
Problem: Hidden Fees Inflate the Final Disbursed Amount
The app displays a principal of ₦50,000, but after accepting, you discover the disbursed amount is only ₦45,000 due to “processing fees” or “insurance” deducted upfront.
Solution: Before accepting ANY offer, carefully review the loan breakdown page. Nigerian law requires transparency in pricing. If fees were not disclosed upfront, take screenshots and report the lender to the FCCPC for hidden charges.
Problem: “Server Error” or Portal Down During Application
You input a desired amount, but the app crashes, shows a server error, or the portal is down. Later, you find an approved loan for a different, often higher, amount.
Solution: Never assume a failed transaction didn’t go through. Immediately check your SMS and app dashboard after any error. If an unwanted loan is created, follow the steps to contact support with the error timeline. Use your mobile data, as some apps have issues with specific Nigerian ISP networks like Spectranet or Smile.
Problem: Long Delays from Customer Support (No Resolution for Days)
You’ve reported the wrong amount, but customer support only gives automated replies or promises a callback that never comes, leaving you in limbo.
Solution: Escalate daily via multiple channels: in-app chat, email, and their official social media pages (Twitter/X often gets faster responses). In your follow-up, state a deadline (e.g., “If not resolved in 24 hours, I will escalate to FCCPC”). This formal tone often triggers a faster review.
Fees, Costs and Timeline
Correcting a system error on a loan app should cost you absolutely nothing in official fees. Legitimate lenders bear the cost of fixing their own technical glitches. However, beware of unofficial costs: fraudulent agents or “support” numbers on social media may demand anything from ₦500 to ₦5,000 to “expedite” the correction. This is a scam; never pay.
The realistic timeline for resolution varies. A simple cache issue is fixed instantly. Contacting in-app support may take 6 to 24 hours for a first response, and 1-3 business days for a technical fix. If you need to escalate to the FCCPC, add 5-10 business days for their intervention. In states with active FCCPC offices like Lagos or Abuja, resolution may be slightly faster due to easier follow-up.
Your only potential cost is for internet data or a visit to a cyber café (₦200-₦500 per hour) if you need a stable connection to communicate with support and send evidence.
Warnings and Scams to Avoid
- Fake Support Agents on WhatsApp/Social Media: Scammers create profiles with lender logos and contact you first. Legitimate loan app support will never initiate contact on WhatsApp. Only use the official in-app chat or email from the app’s “Contact Us” section.
- Requests for “Processing” or “Verification” Fees: Anyone asking for a direct transfer (to a personal account like Opay, Palmpay, or bank) or airtime recharge (₦500, ₦1,000, etc.) to “correct your loan amount” is a fraudster. No genuine fix requires an upfront payment.
- Phishing Links Sent via SMS: You may receive an SMS with a link to a fake customer portal designed to steal your login details. Never click on links from unverified numbers. Always access the app directly from your phone’s home screen or the official store.
- Pressure to Accept the Wrong Amount: A scammer or even an impatient agent might tell you to “accept the loan now and we will adjust it later.” This is a trap. Once disbursed, the contract is binding. Never accept an incorrect offer.
Acceptance, Use and Next Steps
Once the loan amount displayed on your app is corrected and matches your approved offer, you can proceed. This corrected, verified amount is what you will be legally bound to repay with the stated interest and fees. The loan, once accepted, will be disbursed directly to the bank account or wallet (like Opay or Palmpay) linked to your profile.
Your immediate next step is to conduct a final review. Before tapping “Accept” or “Disburse,” double-check the final breakdown: the principal, the interest rate, the repayment total, and the due date. Ensure no hidden deductions have reappeared. If everything is accurate, you can proceed with confidence.
A key limitation to understand is that a corrected offer does not guarantee future approval. Your credit limit and eligibility with that app are still subject to their internal risk assessment. Furthermore, consistently reporting technical issues may be noted on your profile. For complete financial safety, consider spreading your needs across multiple legitimate platforms and maintaining a primary relationship with a traditional bank.
Frequently Asked Questions
What should I do if a loan app deducts money for a loan I didn’t accept?
This is a serious violation. Immediately take screenshots of the unauthorized transaction alert from your bank and your loan app dashboard showing no accepted offer. Contact your bank to flag the debit and then file a formal complaint with the loan app. If they are unresponsive, report the incident with all evidence to the FCCPC and your bank’s customer protection unit for forced reversal.
Can a wrong loan amount on the app affect my credit score?
Yes, indirectly. If you mistakenly accept a higher amount than you can repay and default, it will negatively impact your credit history with the Credit Bureau of Nigeria. Furthermore, if the app’s error leads to a missed payment because you’re disputing it, that missed payment could be reported. Always resolve the amount discrepancy before the repayment cycle begins.
Why does my loan app keep showing different amounts each time I log in?
This is typically caused by a poor internet connection loading cached data inconsistently, or a serious backend glitch in the app’s algorithm. To troubleshoot, use a stable connection (try mobile data), clear the app cache (Android), or reinstall the app. If the problem continues, it indicates an unstable platform—consider pausing your application and reporting the bug to their technical team.
I was offered a lower amount than I applied for. Is this an error?
Not necessarily. This is often not a “display error” but a credit decision. Nigerian loan apps use automated systems to assess risk. Based on your transaction history, repayment behaviour with other apps, and current debt level, they may approve a lower amount than requested. Check the app’s notification or messages section for an official reason regarding your “adjusted offer.”
How long do loan apps like FairMoney or Carbon take to fix such errors?
For straightforward technical glitches, resolution can be within 24-48 hours after contacting their in-app support. For more complex issues involving disbursement or repayment schedules, it may take 3-5 business days. The timeline heavily depends on how quickly you provide clear screenshots and the complexity of their backend fix. Formal escalation to the FCCPC adds 1-2 weeks.
Is it safe to give my BVN to customer support to fix this problem?
No. Legitimate customer support agents already have access to the BVN you provided during registration for verification purposes. They should never ask you to re-send or recite it over chat, phone, or email. Any request for your BVN, ATM PIN, or OTP from someone claiming to be support is a major red flag for identity theft. Only use official in-app channels.
Disclaimer
This guide is for informational purposes based on common technical issues and consumer protection principles within Nigeria’s digital lending landscape. It does not constitute legal or financial advice. Loan app terms, interfaces, and support procedures change regularly. Always refer to your specific lender’s official terms of service and contact their verified support channels for definitive resolution. The author is not affiliated with any loan app or regulatory body mentioned.