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Every year, banks make significant profits by levying illegal charges dubbed as “hidden/additional charges” from their customers. Often, these charges are hidden from the customer and safeguarded cunningly so that the customer won’t be able to reimburse the amount deducted.
Navigating the legal and regulatory landscape to recover illegal charges can be a daunting task, especially if you're not familiar with the process. At our company, we understand the frustration and financial burden that illegal charges can impose on our clients. We offer a comprehensive service to help you recover any illegal charges levied by your bank, utilizing our legal expertise and experience to ensure that you get back what's rightfully yours.
1. Additional charges at the time of disbursal of loan
2. Charges on online payment of loan through a third-party source
3. Inspection costs owing to suspected loan default
4. Legal charges like stamp duty, registration duty are often kept in obscurity
5. Excessive third-party charges
6. Requiring debtor to pay an inflated third-party charge
7. Credit/Debit Card Protection Charges
8. Undisclosed Charges like Charges for attestation of signatures, bank statements and demand draft charges
9. ATM transactions even during outage, insufficient cash in machine, or cap withdrawals
10. Charges for change in ATM pin code, change of mobile number or address, SMS alerts, changes in KYC-related documents
1. Approach the relevant System Participant for the redressal of grievance.
2. If the System Participant fails to respond within one month of receiving the complaint, rejects the complaint or the complainant is dissatisfied with the response provided, and then the complainant may file a complaint with the Ombudsman for Digital Transactions
The Reserve Bank of India has appointed the Ombudsman for Digital Transactions, a senior official, to address customer complaints against perpetrating banks, for deficiencies in specific services that fall under the grounds of complaint listed in Clause 8 of the Scheme.
A complaint can be sent to the Ombudsman by
1. Writing it down on a piece of plain paper and mailing it, faxing it, or hand delivering it to the appropriate office.
2. Via email. Contact information is available on the RBI website.
1. For complaints against centralized operations-
With the office of the Ombudsman for Digital Transactions within whose territorial jurisdiction the billing / declared address of the customer is located.
2. For complaints against local jurisdiction operations-
With the Office of the Ombudsman for Digital Transactions within whose jurisdiction the branch or office of the System Participant complained against, is located
There is no charge or fee for filing / resolving customers’ complaints.
For any losses incurred by the complaint, the Ombudsman may award compensation up to the amount directly attributable to the System Participant's act, omission, or commission or two million rupees. The compensation must exceed the amount in issue.
Additionally, the Ombudsman has the authority to compensate the complaint for harassment and mental anguish up to 0.1 million rupees in compensation.
