The Central Bank of Seychelles (CBS) has directed Mauritius Commercial Bank (MCB) to refund customers affected by delayed card transaction debits recorded in 2025. The issue involved transactions that were not deducted from customer accounts within the expected timeframe.
CBS said it engaged with MCB to investigate the delays and issued a formal Direction on 14 November 2025. Under the directive, MCB must immediately stop deducting any delayed debit transactions that exceed 30 days from the date a transaction was initiated.
The bank has also been instructed to refund all delayed debit transactions that were deducted more than 30 days after they were initiated in 2025. CBS further requires MCB to fully reimburse affected customers, including reversing any fees, charges, or interest that resulted from the delayed debits.
MCB has until 14 December 2025 to complete the refund process. By that date, the bank must submit a certified schedule to CBS detailing the number and value of transactions addressed, the total amount refunded or credited, and the measures put in place to avoid a recurrence.
CBS said the engagement with MCB reflects its mandate to ensure fair outcomes for financial consumers. It added that it will continue to act within the CBS Act and the Financial Consumer Protection Act to maintain confidence and stability in the financial sector.