RBI Ombudsman Complaint: Seeking Maximum Compensation for Yes Bank's Failure to Refund Joining Fee"

[SonyTom]

Update :- 1st October, 2024
A happy start. Yes bank PNO did contact me again via email a few days ago and offered 5k Amazon voucher instead of initial 2.5k and I received it today and added to Apay balance.

Such a confidence boost when the RBI Ombudsman ciomplaints actually work. 🙂

Keep up the good work bro and do post your future fights too

 

[tst-123]

Hello All
I had a Yes MC Reserv card which I got converted to ruPay variant and they charged me joining fees of 2k+ 18% GST. The statement date was 15th of every month and the card was issued on 4th July so I was ok with the joining fees charged on 15th July as I could easily get it reversed spending 40k in 1st 30 days and I was like they will refund me the joining fees in August statement, but they did not even if I had spent almost 60k in 1st 30 days

I raised a complaint with yes banka dn they gave me an idiotic response that 40k was not spent in 1st 30 days. I escalated that to PNO and they took forever to reply and didnt budge even after multiple follow ups so I finally raised it to RBI ombudsman and they reversed the fees on 3rd septemeber (I had to pay the bill with joining fees for my Aug statement because I didnt want to take a risk of CIBIL score being damaged)

Now the compensation part. I know the RBI has max compensation of 1 lakhs ONLY for both 1. deficiency in services & 2. mental harrasment so I put in 90k each in both of them
Yes bank RBI complaint handling team called me and offered me 2.5k Amazon voucher so I outright denied it and said "Let RBI handle the compensation part"
Now the problem is in almost 100 complaints so far to RBI (More or less) I have never received any compnesation in any complaint so I HAVE HUGE DOUBTS if RBI will even bother with it.

So anyone who has got compnesation from banks
1. Can you help me how did RBI help and what should I do if RBI disposes/closes the complaint without any compensation at all?
2. What is the maximum compensation that I should accept from Yes bank to be on safer side?

I am also in similar dilemma with MARQUEE ! Got card in Sep'24 and joining fees demanded in Oct'24 cycle. Welcome letter offered 60000 points but immediately in one moth it was reduced to 40000 in 30 days. Wrote several mails on this reduction within 30 days of card issue and even to PNO but no reply hence requested for closure. Card got deactivated, then reply came that they could give 60000 points if fees were paid. When I asked them on when would I get the points, now they say that card is already deactivated and hence no reward points can be given. Still, card not closed, and still they demand to pay the joining fees in Nov'24 statement. Again wrote to PNO and it was replied that fees are to be paid. Again wrote the issue that happened due to flawed response of the bank and waiting for their reply. How to handle this ? as mails are going for about 30 days. Ombudsman ?? please suggest.

 

[rojajimmy]

You have to wait for 30 days from 1st communication with the bank. Even if you complain on the 29th day RBIO can reject it.
Have all proofs for registering a complaint with RBIO and leave it to them. Thats it.

 

[tst-123]

You have to wait for 30 days from 1st communication with the bank. Even if you complain on the 29th day RBIO can reject it.
Have all proofs for registering a complaint with RBIO and leave it to them. Thats it.

Thanks. I have and 30 days are over. Waiting for their reply to last mail. Meanwhile, should I pay the joining fees or escalate to RBIO ?

 

[rojajimmy]

If 30 days are over, just escalate. Not paying the fees might affect your CIBIL score so ideally you should pay.
RBIO can tae 30 days to resolve the complaint so ideally do it ASAP.

 

[tst-123]

If 30 days are over, just escalate. Not paying the fees might affect your CIBIL score so ideally you should pay.
RBIO can tae 30 days to resolve the complaint so ideally do it ASAP.

Thanks a lot.