🔍 Seeking Advice: Issue with Paytm Auto Debit and Penalty Charge 🔍

[Credit_Mania]

Hello, dear fellows!

I hope you are all doing well. I have encountered a situation with my Paytm savings account and could use some advice from you all.

Here's what happened: I have the auto-debit option enabled on my Paytm savings account, which makes payments hassle-free. However, on a particular day, due to a temporary shortage of funds for just 5 minutes, the required amount was not available in my account. After that short period, the funds were back in my account, and the auto-debit transaction went through.

To my surprise, I received a penalty charge of 100 rupees from Paytm for this brief lapse, and what's more concerning is that this occurred during non-banking hours at 7 AM.

I am unsure about the validity of this penalty and whether it is justified. As a consumer, I believe I should have some recourse or explanation for such charges. Can I lodge a complaint with the RBI Ombudsman regarding this matter? Has anyone else faced a similar situation or dealt with such issues before?

 

[Tejo]

To my surprise, I received a penalty charge of 100 rupees from Paytm for this brief lapse, and what's more concerning is that this occurred during non-banking hours at 7 AM.

There are no such rules set by RBI and will not set even in future.

To avoid these charges, you could opt idfc ac, 10k ac else for credit card holders available as zero balance ac.

 

[Deleted member 11974]

i dont think you would have a strong case as the standing instructions debit money in the back end system on the given day at any given point of time according to their backend operations

 

[Credit_Mania]

At least they will debit transaction on banking hours. Its not like their wish. Anyway I will complain and we will see the response. By this complaint, may the RBI set any rules for the debit transactions.

 

[Tejo]

At least they will debit transaction on banking hours. Its not like their wish. Anyway I will complain and we will see the response. By this complaint, may the RBI set any rules for the debit transactions.

for which services you enabled auto debit??

 

[Credit_Mania]

for which services you enabled auto debit??

SIP