Credit Bill Payment Via BBPS can be reversed

[BhaiyaJi]

Last month I paid a 100 rupees credit card bill of IndusInd Credit Card via Jio Finance app. The amount was successfully credited to the card instantly. But as far as I remember it got failed on Jio Finance app side.
Today I was going through my IndusInd transactions and found that not only did the payment get reversed, but the IndusInd bank charged me Interest and GST on the interest.
Luckily it was a matter of 100 rupees only. I don't know what would have happened had this been a big amount.

 

[ankit_tf]

but its not just about 100 or 1000 rs, u may still get flagged in credit report.

 

[VISHESH_BANSAL]

Last month I paid a 100 rupees credit card bill of IndusInd Credit Card via Jio Finance app. The amount was successfully credited to the card instantly. But as far as I remember it got failed on Jio Finance app side.
Today I was going through my IndusInd transactions and found that not only did the payment get reversed, but the IndusInd bank charged me Interest and GST on the interest.
Luckily it was a matter of 100 rupees only. I don't know what would have happened had this been a big amount.

That is another Benifit of BBPS. Erroneously Credited Payment reversed Automatically. This situation happend with me as well but App is Airtel and Card belongs to kotak.

I simply did not thought I got free Money and then never crossed check about reversal

If it was settled as IMPS/UPI Txn then Jio May Send legal notice to repay and Unecessarily trouble the customer. Happend with me with Paytm when Paytm credited Repayment via IMPS and Marked it Failed and refunded and then sent me notice to recover the amount meanwhile blocked my Funds available in Paytm Wallet and Bank

 

[BhaiyaJi]

That is another Benifit of BBPS. Erroneously Credited Payment reversed Automatically. This situation happend with me as well but App is Airtel and Card belongs to kotak.

I simply did not thought I got free Money and then never crossed check about reversal

If it was settled as IMPS/UPI Txn then Jio May Send legal notice to repay and Unecessarily trouble the customer. Happend with me with Paytm when Paytm credited Repayment via IMPS and Marked it Failed and refunded and then sent me notice to recover the amount meanwhile blocked my Funds available in Paytm Wallet and Bank

recovery is better than payment reversal without any mail/message.

 

[VISHESH_BANSAL]

recovery is better than payment reversal without any mail/message.

For reversal of Erroneously Credited Amount you are exciting Bank to send Intimation like you do not know at all that Either Amount can be reversed by Indus any time or Jio may Start recovery Process

It is your duty to keep an eye on Free money you got Temporarily atleast on Due date for checking any Reversal if Jio did not took any action yet