A bank is a financial institution licensed to receive deposits and make loans. Banks may also provide financial services such as wealth management, currency exchange, and safe deposit boxes. There are several kinds of banks - retail banks, commercial or corporate banks, investment banks, payment banks etc
1. What should I do if there are unauthorized charges on my account?
You should contact your bank and raise a dispute as thisis an option for all the consumers. This dispute can be raised by visiting thebank personally, via telephonic conversation or in writing an email to banksupport.
2. Are customers charged for transactions at ATMs?
RBI has mandated a minimum number of free transactions atATMs. Banks may offer more number of free transactions or put charges formore transactions at ATMs. Please refer to the website of the Bank where youraccount is for more information.
3.What are various types of cards issued by Banks?
Cardscan be classified on the basis of their issuance, usage and payment by the cardholder. There are four types of cards (a) debit, (b) credit, (c) prepaid, and(d) electronic.
4.Who issues these cards?
Debitcards are issued by banks and are linked to a bank account. Credit cards aregenerally issued by banks. Prepaid cards or wallets are issued bybanks/non-banks against the value paid in advance by the cardholder and storedin such cards.
5.Who decides the limits for cash withdrawal or purchase of goods and services through a card?
Thelimits on cash withdrawal at ATMs and for purchase of goods and services aredecided by the card issuer. Cash withdrawal using debit cards and open systemprepaid cards at PoS terminals has been allowed by Reserve Bank of India (RBI).Cardholders can check with their issuers for details of such facilitiesprovided by them, if any.
6.What steps should a customer take in case of failed ATM Transaction, when his/ her account is debited?
The customer should lodge a complaint with thecard-issuing bank at the earliest. This process is applicable even if thetransaction was carried out at another bank's ATM.
7.Within how many days of a failed transaction the amount has to be re-credited ?
Yes,the card issuing bank has to re-credit the customer’s amount within fivecalendar days from the date of the failed ATM transaction.
8.Where can I complain if I have a problem with my Bank?
You can raise yourgrievance on the Digital Complaint Management System (CMS) Portal: https://cms.rbi.org.in/cms/IndexPage.aspx.This this is the unified portalfor Banking, NBFC as well as Digital Transactions related grievances. Citizenscan access the CMS portal at RBI’s website to lodge their grievances againstany of the entities regulated by RBI. This site is very user friendly andprovides information like ‘How to File a Complaint, Details /Documents requiredfor filing a complaint, how to track your complaint, how to file an appealagainst the OMBUDSMAN as well as the addresses& mailing list of Consumers’Education and Protection Cells.
9.Who is an Internal Ombudsman?
The coverage of the Internal Ombudsman Schemeis extended to all scheduled commercial banks (other than Regional Rural Banks)having 10 or more banking outlets in India. The objective of setting up the InternalOmbudsman is to ensure that undivided attention is given to resolution ofconsumer grievances in banks and the bank’s customers get an independent andauto-review of their grievances so that they are not partially or whollyunaddressed before they approach the Banking Ombudsman.
10.Who is a Banking Ombudsman?
TheBanking Ombudsman is a senior official appointed by the Reserve Bank of Indiato redress customer complaints against deficiency in certain banking servicescovered under the grounds of complaint specified under Clause 8 of the BankingOmbudsman Scheme 2006 (As amended upto July 1, 2017).
11. Which banks are covered under the Banking Ombudsman Scheme?
AllScheduled Commercial Banks, Regional Rural Banks and Scheduled PrimaryCo-operative Banks are covered under the Scheme.
12. When can one file a complaint?
Onecan file a complaint before the Banking Ombudsman if a reply is not received fromthe bank for a period of 30 days or the bank rejects the complaint, or if thecomplainant is not satisfied with the reply given by the bank.
13. Is there any cost involved in filing complaints with Banking Ombudsman?
No.The Banking Ombudsman does not charge any fee for filing and resolvingcustomers’ complaints.
For more information please visit https://cms.rbi.org.in/cms/IndexPage.aspx
