File a complaint against Bank services

Banking Complaints

A bank refers to a financial institution that accepts deposits and creates credit. Banks are of utmost importance to the economy and are a safe place to deposit excess cash.

The Indian Banking sector is ranked 6th across the globe. With many private sector and public sector banks thriving in India, the banking industry is congruously capitalised and well-regulated by the Reserve Bank of India. The stats on market, credit and liquidity bespeak the handy preparedness to sustain any global crisis.

India is presently home to 34 banks out of which 22 are private sector banks, and 12 are public-owned banks. Multiple other Foreign Private Sector Banks are operating as part of the Indian banking sector as well. Let us take a look at the Top 5 Famous Banks in India.

Famous Banks in India

1. State Bank of India: SBI is the oldest and also the largest bank functioning in India and has been a Fortune 500 company for 14 long years. Post-Independence, the State Bank of India got enacted on 1st July 1955. It has its headquarters located in Mumbai, the financial capital of the country.

The bank has 57 Zonal centres and 14 Local centres with 85,356 branches and 59,291 ATMs pan India. SBI has a market cap of INR 2,93,218.11 crores with a market share of 23% with its presence in 36+ countries. It has been recognised as the Best Transaction Bank & Best Payment Bank in India.

Total Assets – INR 30 lakh crores
Revenue – INR 3.68 lakh crores
Number of employees – 2,64,041

2. HDFC Bank: The bank is well known for receiving first 'in principle' consent from the Reserve Bank of India (RBI) which authorised it to set up a bank in the private sector. It was founded in August 1994 given the liberalisation that took place in the Indian Banking Industry.

The bank started its operations as a Commercial Bank from January 1995. With its headquarters in Mumbai, The Housing Development Finance Corporation Limited (HDFC) functions across 2,768 towns and cities with 5,314 branches and 13,610 ATMs in India. It has a market cap of Rs.6,25,666 crores as of 2019.

Total Assets – INR 11.89 lakh crores
Revenue – INR 1.17 lakh crores
Number of employees – 98,061

3. ICICI (Industrial Credit and Investment Corporation of India) Bank Private Limited: It occupies the second place when it comes to volume of assets operated by the bank. The bank is the second largest in terms of market cap and total assets, making it the leading private sector bank in India.

ICICI was formed in 1994 with the principal aim to offer medium-term and long-term project funding to Indian businesses. The bank has its headquarters in Mumbai with its registered office in Vadodara, Gujarat. It currently has its footprint across India with 5,275 branches and 15,589 ATMs along with its presence in 16 countries outside India.

Total Assets – Rs. 13.77 trillion
Revenue – INR 1.49 lakh crores
Total employees – 82,724

4. Punjab National Bank: The Punjab National Bank, PNB is the third-largest bank functioning in India. The bank serves more than 80 million customers with 7000 branches and 10,681 ATMs, expanding its footprint to 764 cities. It currently operates from its head office located in New Delhi.

Founded in 1894 from Lahore, the bank has served eminent freedom fighters of India. It later got nationalised in July 1969. As one of the oldest banks in the country, it has a market cap of Rs. 37,411 crores as in 2019. PNB recently bagged the prestigious IBA Banking Technology Awards.

Total Assets – INR 6 lakh crores
Revenue – INR 80,512 crores
Total employees – 70,801

5. Bank of Baroda: Bank of Baroda has now become the third-largest lender of the country after it merged with Vijaya Bank and Dena Bank into a single entity. It carries a pride of 127 million customers across 21 countries and growing bigger and better day by day.

The bank operates from its main office in Vadodara and has 9,500 branches and 13,400 ATMs across India. Founded in July 1908, it has a market cap of more than 35,000 crores currently.

Total Assets – INR 11.5 trillion
Revenue – INR 91,000 crores
Total employees – 48,807

Top Banking Complaints in India

According to a recent survey by Times of India, every hour 11 people complain against their bank. The most commonly reported banking complaints in India by consumers include bad customer service, checks/funds bouncing, extra charges levied, debit/credit card blocked etc.

Almost 30% to 37% of bank complaints occur due to the bank's failure to fulfill commitments and lack of fair practices. Banks reporting fraud or complaints have been on the rise more than ever before. What's more disturbing is the account holders face never-ending issues even after being connected with the banks for a long time.

Around half a million people have reported filing complaints in the last five years. From high interests to willful delay in processing payments (leading to penalties), and lack of fair practices to denial of closing accounts, banking customers are having a tough time continuing with the financial hassle.

The numbers of banking complaints see a double-digit rise in the past few years. The financial period of 2018-19 witnessed a surge of 20% in the complaints against banks. Non-adherence to fair practices saw the most number of complaints followed by issues related to pension, levy of charges, and debit and credit card issues.

1. Hidden fees
Customers feel cheated about the excessive fees and hidden charges by the banks. Most often, customers are not aware how they can choose to stay out of overdraft protection. Unexpected charges by bank remains a major issues for consumers from Bangalore, Pune, Mumbai to Patna. Reaching out to their bank is always a good idea to have a clear picture of fees and extra charges.

2. Bad customer support
This is something which every customer is concerned about. Even if the customers manage to reach out to the customer service, they don't see any credible solution. It gets quite worse when the bank employees are unable to resolve your issue. Being heckled from person to person, and being asked to wait at every desk test the best of temper.

The only solution you have is to stay calm and wait for the response from the bank to get the issue resolved.

3.Beneficiary does not get the money
This is one of the most common issues faced by banking customers in all the major cities in India like Mumbai, Bangalore, Pune, New Delhi and Kolkata. The amount gets deducted from their account, and it is shown that the transaction is successful, but it doesn’t get credited into the beneficiary’s account. EMI payers mainly lodged such complaints that the EMI would get deducted from their account but would not be credited to the beneficiary.

4. Fraudulent transaction
According to the Economic Times, there is a rise of 74% in banking frauds. Digital transactions via net banking and UPI are preferred over cash for a contactless mode of payment. But with an increase in online payments, there has been a rise in fraud cases.

Many customers complain that the money from their account has been deducted for things they have not purchased. Banks take a lot of time in addressing such complaints, and usually, customers get frustrated with the process.

5. Transaction failure
Transaction failures are very frustrating and embarrassing. When consumers are out, and they haven’t carried the cash, they will pay via net banking or UPI or ATM, but sometimes bank servers would go down suddenly, and the transaction would fail, or in some cases, the amount would get deducted, and the transaction would fail which can be misleading for both payer and recipient.

How to resolve Banking complaints?

1. First and foremost step should be contacting the bank’s customer care itself as they genuinely care about the customer satisfaction and would be willing to resolve the consumer complaints. Here are customer care number of some of top banks in India :

State bank of India (SBI) Customer Care - 1800 425 3800
Union Bank of India (UBI) Customer Care - 1800 22 2244
Allahabad Bank Customer Care - 1800 57 22 000
Bank of Baroda Customer Care - 1800 102 4455
UCO Bank Customer Care - 1800 274 0123
Bank of Maharashtra Customer Care - 18002334526
Bank of India (BOI) Customer Care - 1800 22 0229
Central Bank of India (CBI) Customer Care - 1800 22 1911
HDFC Bank Card Customer Care - 1800 266 4332
ICICI Bank Customer Care - 1800 200 3344
Punjab National Bank (PNB) Customer Care - 1800 180 2222
Axis Bank Customer Care - 1860 419 5555

2. Apart from calling customer care numbers, a customer can visit the bank and meet the officials or complain at the grievance cell to sort out the issue. However, you should try submitting your complaint to the bank in writing, to keep a record of your complaint. Also, some banks have an option of filing a complaint at their website also.

3. However if the bank is unwilling to address the issue then you can approach the Banking Ombudsman. A banking ombudsman is a senior official appointed by the Reserve Bank of India (RBI) to resolve consumer complaints against deficiency in the banking services. So far there are a total number of 15 Bank Ombudsman whose number can be found on the official RBI website.

The consumer has to file a complaint at the ombudsman under whose jurisdiction the bank branch is located. All the consumer has to do is write it down on paper, or send a complaint via email. There are no charges for filing a complaint. However if you are not satisfied with the settlement offered by the ombudsman, you can file an appeal before the appellate authority within 30 days.

4. Send Legal Notice:
A Consumer can send legal notices to the Bank in case it is unable to resolve his complaint. It is one of the efficient ways to handle consumer complaints legally. Check below to know how to send a legal notice to a Bank?

Step 1: Firstly, get a legal notice drafted by a lawyer.
Step 2: Check it properly and make sure it is signed by a lawyer.
Step 3: Keep a copy of it for future purposes.
Step 4: Send the legal notice to the Bank by registered post.
Step 5: Keep the slip or delivery report for evidence.

5. File consumer forum case:
Consumer forum deals with consumer complaints and you should approach the consumer forum if you feel that your rights as a consumer have been violated.

If your Bank is not responding to your complaint even after sending legal notice by a lawyer then you should file a case against it in a consumer court.

Here is how you can file a case against the Bank in the consumer court?

Step 1: Intimate the aggrieved party via legal notice.
Step 2: Draft the consumer complaint
Step 3: Attach all the relevant documents and proofs to support your complaint.
Step 4: Select the appropriate court for filing the complaint.
Step 5: Pay the prescribed court fee that is required to be paid along with the complaint.
Step 6: Submit the case along with the affidavit & fees in the court.

There are strong chances of nothing being done against your complaint if you're not serious about it. So, if you are still left stranded with nowhere else to go then you can always file a consumer complaint at Voxya. We at Voxya, generally receive around thousands of Banking complaints in a month.

So how do we actually resolve these Banking complaints? We start a social media campaign and then send an email to the Banks to resolve the complaint amicably. Moreover if strict actions need to be taken then we draft a legal notice and send it to the concerned Bank.

Most Common Issue Reported for Banking Complaints

Fraudulent transaction

Beneficiary not credited

No Cashback

Bad customer support

Unauthorized Wallet transaction

Amount deducted but transaction failed

Redemption amount not credited (Mudrex India) ^Open

I had bought cryptocurrency through Mudrex App. *th July I sold all. I am yet to get the full amount....

Jul 09, 2024 by Purnendu Kumar Samajdar

Refund of money about took by reliance finance ltd towards the cancllesation with out sanction of l (Reliance Finance Limited) ^Open

I have applied for education loan in the reliance finance ltd about **,**,*** ,for that they took about *,**,*** from me.,but they did not released the money .when i asked refund the amount *,** ,***.till now the company is not refunding .Aski...

Jul 07, 2024 by Satish kumar patnaik

Withdrawal (Binomo com trading app ) ^Open

Dear sir/madam, My binomo id is ******** June **, **** I withdraw *****rs via IMPS but amount transfer successfully but amount not credited in my bank account...

Jul 07, 2024 by T R Karthick

Amount Not Settled in Promised Time (Paytm Business Merchant Account) ^Open

An amount of INR *** was brought into my account at **:** PM. The settlement was to be instant but the app keeps me saying that it is delayed and will be settled in *-* hours, but stll there is no resolution till date. Paytm claims **** support...

Jul 06, 2024 by Nishant Kumar

Account minus (Canara Bank) ^Open

my name is jegatheeshkumar i am open canara bank account I am usinga gpay or phone pay but some time account minus amount *july **** day my account balance -*** solving ...

Jul 06, 2024 by jegatheesh Kumar.p

Portfolio realated (Wazirx) ^Open

Hiii , sir I have invested in lovely inu currency in wazir x but now the portfolio showing too much less than i have invested....

Jul 02, 2024 by Jitendra Joshi

Foreclosure done still showing outstanding (Idfc Bank Flipkart Pay Later ) ^Open

sir ji customer of Flipkart On **/**/** I done foreclosure of emi to idfc first bank acc **** But Flipkart didn't done outstanding nill Showing ***.** outstanding Now in June July showing rs ****.** Already foreclosure letter received th...

Jul 01, 2024 by Ghanshyam

Foreclosure done still showing outstanding (Idfc Bank Flipkart Pay Later ) ^Open

Jul 01, 2024 by Ghanshyam

Foreclosure amount to FinancePeer paid NO NOC (Whitehat Jr ) ^Open

Hi Team, I have taken course from whitahatJr for my daughter and loan from Finaceepeer team(Leo*), as Whitahatjr and Finaceepeer have some collaboration. After that i paid * installation and asked Whitehatjr team to close the classes and lo...

Jun 26, 2024 by Pragya Gupta

Refund (Mira kaur trader) ^Open

Mira kaur trader met me first time on telegram through Indian trading team via link @ Mirakaur_trade after clicking the link it took me directly to her personal chat. Then she ask me for my personal bank account with screenshot and ask me to cr...

Jun 24, 2024 by Sabrina J

Refund money from Adarsh credit co op society ltd (Adarsh Credit Co Op Society ltd) ^Open

I need My Deposits money from Adarsh credit co operation society limited. Kindly refund money its matured * years ago....

Jun 17, 2024 by Parvathi R

Bajaj Flexi Loan Scam product (Baja fineserv ) ^Open

I was approached by Bajaj Finserv agent on providing me a personal loan and at which I was sold flexi loan product. I was not informed my EMI will be around *k per month for ** months with an interest rate of **% per annum. But now after paying...

Jun 12, 2024 by Xavier V M

Delay in releasing documents (Pnb Housing Finance) ^Open

Hi, my mother took LAP for property a year ago with PNB Housing Finance, and recently we opted to transfer the loan to other bank. We have requested foreclosure letter last months, and they told it will take ** working days to get foreclosure l...

Jun 11, 2024 by KISHAN BHALANI

REFUND MY MONEY (Neblio Technologies Private Limited) ^Open

I have been withdrawing the amount from Coin DCX, but merchant has freeze my amount and demanded pay the ***% amount then unfreeze the amount. Therefore you are requested to kindly unfreeze & refund my amount.....

Jun 05, 2024 by Ritesh

Razorpay Transaction amount not credited to Merchant (Razorpay) ^Open

On **rd May ****, We paid the abovesaid amount, in * parts, to one agency using our company credit card through Razorpay. Even though the transaction was successful from our end, the payments were not settled to the merchant. Both us and the me...

Jun 05, 2024 by Kathiravan Loganathan

Mahindra and Mahindra finance ajent cheated person (Mahindra and Mahindra finance) ^Open

Mahindra and Mahindra finance ajent Mr Subhomoy biswas collect voter ID card Xerox and photo of a person and fake signature on documents loan guarantee purpose. Mahindra and Mahindra finance also help their ajent with out appear guarantor pers...

Jun 04, 2024 by Sanjay Kumar Ghosh

Harrasment and Mental Abuse By Mpokket (Mpokket) ^Open

I have been suffering from severe mental health issues from a long time, including Adhd, Ocd, And Bpad. Adhd comes with impulsivity , including impulsive spending. One day i was browsing some social media platform and i get an ad for instant lo...

May 29, 2024 by Ayaan Naseer

VGN Jewellers Mulund (VGN Jewellers Mulund) ^Open

My Sister & I have invested money with VGN Jewelers Easy gold & diamond purchase plan" since Nov **** . A total sum of * K per month (*K + *K) respectively and the tenure for the same was ** months. We were regularly paying our monthly contribu...

May 15, 2024 by Leena Surve

MY AMOUNT IS DETECTING LAST 5 MONTHS (Mobikwik) ^Open

I AM TAKEN LOAN LAST YEAR **** NOVEMBER AND COMPLETED MY LOAN ON TIME AND NOW **** NOVEMBER ONWARDS AMOUNT DEBITING AGAIN AND SHOWING LOAN I TAKE. ON NOVEMBER **** BUT AM NOT TAKEN THAT LOAN ABOUT THIS IAM COMPLAINT TO MOBIKWIK FROM LAST * MONT...

May 12, 2024 by AKKENAPALLI SHIVA KRISHNA

Indiscriminate account blocking by HDFC (Hdfc Bank) ^Open

I am a customer of HDFC Bank, and I had requested for a change of address on my account. The process was completed successfully, but * days later HDFC blocked my account without notice. Upon many attempts to understand the rationale, I was fina...

May 09, 2024 by Anurag

Money is not credited (Mpokket) ^Closed

I have applied loan from mpokket. In transaction screen it showing that money is disbursed into account. Its been * hours i haven't received any money and also they not responding to my calls and mails....

Feb 10, 2023 by Divyansh tyagi

Insurance Maturity amount not Paid (HDFC Life) ^Closed

*)-Maturity amount is transferred to unknown account. *)-They are saying that you have given account statement at the time of inception.. Thatswhy it got transferred on that account. *)-I completely deny that we have provided any such account...

Feb 10, 2023 by Nooruddin

Refund not credit (S2 Money private limited) ^Closed

.G*> (>. ?G*M** *>*B *H .H '>* >*M! *G *H*G (?>* **> %> *G?( **M** !> ( G >*# *H*> >$G *G /> * -@ $ *>** (*@ /> *H | S* MONEY G .>'M/. *G AIRTEL PAYMENT BANK ACCOUNT > (?>* **> %> >(>*@ :- Ac. No. ********** AMOUNT **** ...

Jan 11, 2023 by Tikeshwar sahu

Refund not credited (Punjab National Bank Gamma 1 branch) ^Closed

.G*> (>. &M**>* s/o *>*.* (?*>*@ *>@*A* M*G* (K!> $%> .G*> > (,* **************** K? *>, (G*(* ,H $ +>*M. ** *H .G*G > *G **-*-**** K ...

Jan 06, 2023 by kapil kumar

Fraud By My Debit Card of ICICI bank (icici bank) ^Closed

Good afternoon As one girl called me for credit card of bajaj finserv and says to install one app ie of Bajaj finserv only and she asked to fill basic details and debit card detail and said you will get verification transaction of * rupee b...

Dec 23, 2022 by Akash Gangwar

Refund not completed (SBI & Phone pe ) ^Closed

Sir I transferred an amount RS.*** on dated ** sept **** to my friend through SBI phone pay the phone number is correct but amount transferred to another account .In this regard complained to phone pay care centre they stated that the responsi...

Dec 21, 2022 by SANTOSH KUMAR MISHRA

SBI credit card charging double amount for a single EMI purchase every month (Sbi Credit Card) ^Closed

I have taken an EMI upon a purchase using SBI credit card for which a monthly EMI of **,*** rupees should be charged for me on monthly basis. The EMI period is * months and amount is around **,*** rupees. They started to charge me around **,***...

Dec 20, 2022 by Jajimoggala Nava sai krishna

Money didn t credit in astropay account (Astropay ) ^Closed

I had to make a transfer through astropay so i tried to deposit by upi. Money was debited from my account but didn't got credited into astropay. It's over two months now still no resolution ...

Dec 11, 2022 by Sapan soni

REFUND NOT ISSUED BY ZESTMONEY (ZestMoney) ^Closed

This is regarding the payment of INR **,*** I made to MAKEMYTRIP through a consumer loan (LOAN ID : **E*BMW****A) of ZESTMONEY for an EMI tenure of * months (Sep ****- May ****) with a monthly EMI of INR ****.** (**% Rate of Interest). A...

Nov 23, 2022 by SINDHU NAGARAJAN

Course cancellation and loan closure (skilllync and Eduvanz) ^Closed

My complaint is about Course cancellation and loan closure. I am veerababu from andhra pradesh. i got a call from skilllync on may ** and he convinced me to you got a job guarantee and you did not pay even one rupee also. he made so many fake...

Nov 10, 2022 by VEERABABU ALLAKA

Froud (Mpokket) ^Closed

I get the lone of rs ***** rs and they are asking for the ***** what I can do please....................

Nov 05, 2022 by rakesh

Refund of Mistakenly amount deposited in Google play (Google play ) ^Closed

Sir, I tried to send money to Google pay account but by mistake I touched the Google play app. then it with out confirmation amount Rs **** deducted from my Airtel payment bank account on **th October **** Google play recharge is not need to me...

Oct 27, 2022 by SHAM SUNDER GUPTA

PayTM not giving cashback (PayTM) ^Closed

I placed an order on the website of Flipkart health+ on **th September using Paytm wallet as they were promising cashback of *** rupees. But in this way they actually fooled customers. Now, I have been constantly mailing both Flipkart health+ a...

Oct 24, 2022 by SHIVANI VALECHA

Ammount neither credit to benificery account nor revert back to my account (Axis Bank) ^Closed

...

Oct 17, 2022 by DEEPESH SINGH

Unable to withdraw my money (Phone pay) ^Closed

I have invested ***** rs last year in sbi mutual funds through phone pay,now I am trying to withdraw my money back and I am unable to withdraw.I have raised many complaints but they are not solving my problem.kindly help...

Sep 30, 2022 by rahul tiwari

Refund not recevied (Razorpay Payment Gateway) ^Closed

I purchased * product from Realme store on **-Oct-**** but made * transaction. One of the transaction was not successful having id ************IGANQYHG* was failed from my end. I used Razor payment gateway for payment. I contacted bank, Mercha...

Sep 26, 2022 by Akhilesh Kumar Suryavanshi

Please refund my deducted consolidated charges (Axis Bank) ^Closed

please refund my deducted consolidated charges..amount of **** from axis bank ............thank you ...

Sep 26, 2022 by jaydev pathak

Please refund consolidated charges in 25922 of 2000 rs and 18gst (Axis Bank) ^Closed

yesterday deducted money from my account..****+**%GST...I call bank customer care number ..executive says thak i repay my loan before the EMI date ..this reason deducted money amount of ****rs consolidated charges..my EMI ****..but consolidated...

Sep 26, 2022 by jaydev pathak

5000 (maxoninvest.in) ^Closed

maxonivest.in fraud with me ****rs i am send ****rs on maxoninvest.im fraud app because this app not transfer my widrawl and I am loss ****rs ...

Sep 25, 2022 by Somnath Tiwari

Abused and harassed by cashe loan app agent (cashe app online loan service) ^Closed

i had took loan from cashe loan app and now being harrased and abused by them also they have accessed my phone and found out contact lists and calling them as well.. ...

Sep 19, 2022 by Sachin