Incorrect Debit from Bank Account: Having money deducted from your bank account without a valid reason is serious. This could be due to an incorrect bank charge, a duplicate deduction for the same payment, or a transaction you never initiated. Calling the bank is the first step, but lodging the complaint correctly and following up promptly matters just as much. The RBI has specific rules for unauthorised transactions. If the bank fails to resolve the issue after you lodge a complaint, the customer can escalate the matter.
File a Complaint Without Delay
If you notice a transaction in your account that you did not initiate, you must inform the bank immediately. You can register a complaint through official channels such as the bank’s app, website, email, or by visiting a branch. Under RBI regulations, the customer bears no financial liability in certain circumstances; however, you must report the transaction within three days of receiving the bank’s alert. Delays in filing a complaint can, in some cases, increase the customer’s liability. So don’t wait for the bank statement to arrive; report the incorrect transaction as soon as you spot it.
Submit a Written Complaint to Recover Funds
Merely calling the bank is not enough; you should also submit your complaint in writing. You can do this through the bank’s mobile app, online portal, email, or a branch. Make sure your complaint includes the transaction date, the amount involved, and why you believe the debit is incorrect. Keep the reference number provided after lodging the complaint safe.
Also, save any emails, screenshots, and responses you receive from the bank.
Under RBI rules on unauthorised transactions, the bank must provide a provisional credit for the disputed amount within 10 working days of receiving the customer’s notification, in accordance with applicable regulations.
What to do in case of an incorrect charge?
Not every incorrect transaction is necessarily an error; however, funds may sometimes be deducted incorrectly from your bank account. The same amount could be debited twice, or an amount exceeding the bank’s prescribed fees might be charged. In such situations, ask the bank which rule or tariff schedule it used to levy the charge. Request a detailed breakdown of the calculation and the basis for the charge. Additionally, preserve your bank statements, the list of bank charges, and any correspondence or emails exchanged with the bank. Keeping all documents related to the complaint strengthens your case.
Give the bank a chance to respond first
Before approaching the RBI Ombudsman, you must first lodge a complaint with the bank. The RBI Ombudsman Scheme provides a free grievance redressal system to resolve complaints regarding service deficiencies by covered financial institutions. If the bank fails to respond within 30 days or if you are dissatisfied with the bank’s response, you can file a complaint with the RBI Ombudsman, subject to the prescribed conditions.
How to file a complaint with the RBI
If the bank does not provide a satisfactory resolution to your issue, you can file a complaint through the RBI’s grievance redressal system. This process has no fee. You can also contact the RBI helpline at 1448 for information regarding the complaint process and status. However, you must meet certain eligibility criteria to file a complaint under the Ombudsman Scheme. You must file the complaint within the stipulated timeframe—either after receiving the bank’s response or after the deadline for the bank’s response has expired.
What to do after filing a complaint
Do not assume the matter is closed simply because you have filed a complaint. Keep monitoring your bank account to ensure no further incorrect debits occur. If the bank has provided a provisional credit for the disputed amount, retain the relevant documentation until the matter is officially closed. To avoid future trouble, always keep bank transaction alerts enabled. Also, check your bank statements periodically.
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