BOB debit card refund delayed Compensation

[Adityavikramsingh]

Hello,

I’m facing a delay in receiving refunds for 5 transactions made on November 8th, 2024, using my RuPay Platinum Card from Bank of Baroda. The refunds were processed on the same day, but the amounts have not yet appeared in my account

Transaction Date: 8th November 2024

Refunded Amounts: ₹239.20 (x3), ₹279.20 (x2)


According to the RBI Master Circular, refunds should be credited within T+5 days, and since this hasn’t happened, I am entitled to ₹100 per day per transaction as compensation, totaling ₹500 per day for the 5 transactions.

I’ve contacted the bank, but I’m still waiting for a resolution. Has anyone faced a similar issue or have suggestions on the best way to escalate this for faster processing?

Thanks in advance for any advice!

 

[Anupama_Jha]

After 30 days, raise issue with RBI BO. May get compensation

 

[V G]

Hello,

I’m facing a delay in receiving refunds for 5 transactions made on November 8th, 2024, using my RuPay Platinum Card from Bank of Baroda. The refunds were processed on the same day, but the amounts have not yet appeared in my account

Transaction Date: 8th November 2024

Refunded Amounts: ₹239.20 (x3), ₹279.20 (x2)


According to the RBI Master Circular, refunds should be credited within T+5 days, and since this hasn’t happened, I am entitled to ₹100 per day per transaction as compensation, totaling ₹500 per day for the 5 transactions.

I’ve contacted the bank, but I’m still waiting for a resolution. Has anyone faced a similar issue or have suggestions on the best way to escalate this for faster processing?

Thanks in advance for any advice!

Same issue. My refund of one transaction is pending. I had also done the transaction on Amazon on 8th Nov.

Yesterday, customer care told me to wait for 15 working days.

 

[Manishg]

Can anyone confirm the rule is also applicable to refunds or it is for failed transaction

 

[Adityavikramsingh]

Same issue. My refund of one transaction is pending. I had also done the transaction on Amazon on 8th Nov.

Yesterday, customer care told me to wait for 15 working days.

Same these transactions were also from amazon and Yes I think it's clear Vilation of rbi guidelines but let the day pass

Jitne din tak refund delayed hoga utna compensation dega BOB sidhe nahi to Rbi ombudsman but compensation to lenge


And thanks for everyone for responding

 

[rahulsrk]

Same thing happened to me. Refund not credited till now. I think RBI one is only for failed transaction. Let me know if it is also for refund