There could be various reasons behind this – technical glitches, logistical issues, or even fraud. While sometimes we receive a reversal message, but what if we don’t? 💳

Keep your transaction slips safe for proof. Then, follow these steps to reclaim your money:

1️⃣ Contact Customer Care of the bank: They’ll note down your incident, and the bank must process the refund within 5 days. Otherwise, they are liable for a fine of Rs.100/day for delay beyond 5 days

2️⃣ Visit the branch: If the first step doesn’t work, go to the bank in person to register your complaint.

3️⃣ Escalate the issue: If previous options fail, escalate it to senior authorities within the bank.This might fasten the process.

4️⃣ Contact the Ombudsman: If the bank can’t help, contact RBI authorities for a complaint after 30 days of your initial complaint.

5️⃣ National Consumer Disputes Redressal Commission (NCDRC): They have an effective track record and can step in on your behalf.

6️⃣ Legal avenues: Few cases may require legal action. If there’s no progress after a month, consider engaging legal counsel.

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