Has it ever happened to you that the online transaction failed. But your money was not returned? If so, there is no need to panic. This problem is not just with you. Such complaints come to the banks daily. That’s why today we are telling you the rules related to this …
In such cases, the bank will have to return the money deducted from the account immediately. If the money does not come to the customer’s account within seven days of the filing of the complaint, then the card issuing bank has to pay the compensation of Rs 100 daily. These rules of RBI are applicable from 20 September 2019 in the case of failed transactions.
According to the money control news, these rules are applicable to banks as well as NBFCs. These rules also apply in case of failure of communication link, no cash in ATM, timeout session. The RBI rules regarding card transaction failure in ATMs are very clear. These are also applicable in case of failure of transactions in ATMs of other banks.
1. If you have used the card in your bank’s ATM or in another bank’s ATM, if the cash is not deducted from the account, then the card issuing bank should immediately file a complaint with the card issuing bank.
2. According to the rules, it is necessary for banks to display the name and telephone number / toll free number / health desk number of the concerned officer on the ATM box.
3. If the transaction fails, but the money is deducted from the account, then the card issuing banks have to credit the money back within seven days. These days are counted from the date of filing the complaint.
4. If the banks are not able to solve the problem in seven days, then the rule is that they will have to pay a penalty of Rs 100 daily for the delay. They have to deposit the amount of damages to the customer’s account unconditionally. Then whether the customer has claimed it or not. However, the customer will be entitled to compensation only if he has complained of the failed transaction within 30 days.
5. If the grievance is not settled in time, the customer can complain to the Banking Ombudsman within 30 days of receiving the bank’s reply. He can knock the door of the Ombudsman even if he is not satisfied with the bank’s answer or the bank does not respond to him.
Source: hindi.news18.com
