Bank customers often face numerous problems and seek immediate resolution to their complaints. Common complaints frequently cited by customers include excessive fees charged by banks for services such as ATM withdrawals, bounced checks, and failure to maintain a minimum balance.
Nonetheless, certain complaints are inherent to individual banks and require internal resolution. This can include issues such as inadequate customer service. Customers frequently lament the subpar customer service their banks provide, citing long wait times, unresponsiveness from customer care and ambiguity surrounding procedures as common concerns.
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Numerous instances of fraudulent activity have been reported by our customers, including unauthorized transactions, phishing, and identity theft. Complaints also extend to technical failures in online banking services, such as delayed or failed transactions, inaccurate balance displays, and system malfunctions.
Customers complained about the bank's unfair lending practices, including charging excessive interest rates, charging undisclosed fees and providing unsolicited loans.
Many customers have complained about banks misrepresenting financial products such as insurance policies, mutual funds and credit cards and not providing complete information about terms and conditions.
In this situation, complaints and grievances are delayed for long periods of time, and some cases remain unresolved for months or even years, leading to growing customer dissatisfaction.
It is important to recognize that not all banks face these issues and many have internal mechanisms in place to resolve complaints, from branch level to head office. Banks usually provide dedicated helpline numbers and online portals for customers to lodge complaints if branch managers fail to address their concerns.
In India, filing a complaint with the Ombudsman of the Reserve Bank of India and monitoring the status has become simple and easy.
Customers should be aware that they have an obligation to file a complaint with their bank before seeking assistance from the Ombudsman. If you do not receive a response from the bank within 30 days of filing your complaint, or if the bank rejects your complaint in whole or in part, it may only be referred to the Ombudsman for further action.
How do I file a complaint with RBI against a bank?
If your complaint against a bank, NBFC or payment system participant has been dismissed or not resolved satisfactorily by the relevant authority, you can now file your complaint through the Complaints Management System (CMS) portal on the RBI website (https). there is. //cms.rbi.org.in) or through the link provided on the RBI app.
CMS provides an integrated platform for fast and convenient online complaint filing, tracking, and appeal initiation. All complaints registered on the CMS platform will be forwarded to the relevant office of the RBI Ombudsman or the RBI Regional Office.
The website is very user friendly and provides guidance on how to lodge a complaint, details/documents required to file, tracking procedures and instructions for lodging an appeal to the Ombudsman. We also provide contact information for the Consumer Education and Protection Cell, including addresses and mailing lists.