URGENT! Help needed NACH Returned

[PKR1]

Hi,

I have 1 personal loan going on in IDFC Bank, 8th of every month is the due date, EMI is automatically deducted from IDFC Savings account. I usually transfer the funds in that account before the due date, somehow I forgot to transfer the funds today and auto debit got failed. I noticed this in the evening after 7 PM and checked the app, it was showing NACH returned and 590 charges was levied, it marked as 1 EMI missed, As I made the payment today only on due date, is there any chance IDFC waive off my return fees, will it get reported to CIBIL? Doesn't RBI has any rule for that if auto debit failed Banks should retry again after sending me SMS. I haven't received any auto debit failure SMS also. But after making payment I got the transaction successful message from IDFC. I tried to call customer care but they are active till 6PM only. So far I have just dropped a mail to IDFC. Please suggest what should be done now. Has anyone else faced similar issue?

 

[Infamous]

Hi,

I have 1 personal loan going on in IDFC Bank, 8th of every month is the due date, EMI is automatically deducted from IDFC Savings account. I usually transfer the funds in that account before the due date, somehow I forgot to transfer the funds today and auto debit got failed. I noticed this in the evening after 7 PM and checked the app, it was showing NACH returned and 590 charges was levied, it marked as 1 EMI missed, As I made the payment today only on due date, is there any chance IDFC waive off my return fees, will it get reported to CIBIL? Doesn't RBI has any rule for that if auto debit failed Banks should retry again after sending me SMS. I haven't received any auto debit failure SMS also. But after making payment I got the transaction successful message from IDFC. I tried to call customer care but they are active till 6PM only. So far I have just dropped a mail to IDFC. Please suggest what should be done now. Has anyone else faced similar issue?

No need to worry if you made payment on time, it won't get reported to CIBIL as it is within a grace period of 3 days.

You can call CC tomorrow if the fees is not auto reversed, they will happily refund that.

 

[Vasuki]

it was showing NACH returned and 590 charges was levied, it marked as 1 EMI missed, As I made the payment today only on due date, is there any chance IDFC waive off my return fees, will it get reported to CIBIL? Doesn't RBI has any rule for that if auto debit failed Banks should retry again after sending me SMS. I haven't received any auto debit failure SMS also. But after making payment I got the transaction successful message from IDFC. I tried to call customer care but they are active till 6PM only. So far I have just dropped a mail to IDFC. Please suggest what should be done now. Has anyone else faced similar issue?

Quote rbi guidelines of 3 days

1st - since payment made today
There is no way they can mark you default

2nd - for nach charges if not sufficient balance they need to try multiple time today only then it can be marked fail sometimes bank try early morning sometimes evening
So you can fight on it .
Since u paid today
But wait

Did u pay mannual or got auto deducted by Nach mandate.
If former is the case ur point for charges return are less

Also since it's bank only loan . They should not deduct charges for any mandates

 

[Mr. Bean]

As for CIBIL, it won't be reported.

 

[Vasuki]

You can call CC tomorrow if the fees is not auto reversed, they will happily refund that.

Idfc customer care works 24*7
Also kotak for special customer 😅
Even axis for special customer

 

[PKR1]

No need to worry if you made payment on time, it won't get reported to CIBIL as it is within a grace period of 3 days.

You can call CC tomorrow if the fees is not auto reversed, they will happily refund that.

I knew about the grace period for credit card payments, I was not aware its valid for other loan EMIs as well, thanks for the info

 

[PKR1]

Idfc customer care works 24*7
Also kotak for special customer 😅
Even axis for special customer

Can you please give me the IDFC CC number, the number I tried says they work till 6PM, please connect next working day

 

[Vasuki]

Can you please give me the IDFC CC number, the number I tried says they work till 6PM, please connect next working day

180010888 . .

 

[Infamous]

Idfc customer care works 24*7
Also kotak for special customer 😅
Even axis for special customer

saaar you are wealth customer saaar we poor saaar

 

[PKR1]

Quote rbi guidelines of 3 days

1st - since payment made today
There is no way they can mark you default

2nd - for nach charges if not sufficient balance they need to try multiple time today only then it can be marked fail sometimes bank try early morning sometimes evening
So you can fight on it .
Since u paid today
But wait

Did u pay mannual or got auto deducted by Nach mandate.
If former is the case ur point for charges return are less

Also since it's bank only loan . They should not deduct charges for any mandates

I paid manually after 7PM, it was marked as 1 EMI missed with return fees included in EMI, I had to pay full EMI+ return fees as no option was showing to pay by entering any random amount

 

[Vasuki]

saaar you are wealth customer saaar we poor saaar

It worked even when you are not customer
Loan and cc section has nothing to do with welath status

 

[Infamous]

It worked even when you are not customer
Loan and cc section has nothing to do with welath status

no idea honestly, everytime I tried, I have got that after 6pm xyz department not available

 

[PKR1]

180010888 . .

Tried calling now its saying business hours are Mon to Sun 9:30 AM to 6 PM, I remember 3-4 years back their customer service was available 24x7, I once called them at 2AM and they answered, seems they updated their working hours now, or may be only for normal customers

 

[Vasuki]

Tried calling now its saying business hours are Mon to Sun 9:30 AM to 6 PM, I remember 3-4 years back their customer service was available 24x7, I once called them at 2AM and they answered, seems they updated their working hours now, or may be only for normal customers

Did u choose saving or loan option

 

[PKR1]

Thanks a lot to all of u guyz @Infamous @Mr. Bean @Vasuki I was really tensed , this community is really useful 🙏

 

[PKR1]

Did u choose saving or loan option

I selected Loan option

 

[Vasuki]

I selected Loan option

Choose saving account for nach charges

 

[PKR1]

Choose saving account for nach charges

Thanks a lot, it connected now, they said the charges was levied from Loan department it was part of EMI , its EMI+return fees, moreover I paid manually , its not auto debited from my savings account, so only loan department can give any information on that , asked me to contact them for help, their working hours is 9:30am to 6pm