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Which bank should responsible for IMPS transaction not credited to beneficiary ?

s1t2y3a3m6

TF Legend
I had transferred amount from bank A through IMPS to bank B

Money successfully debited from bank A ( also received SMS) but transaction was pending ( gone in process) on transaction page and not credited to beneficiary (bank B).

When I raised issue with bank A they replied transaction was successful from their end and provided IMPS reference number and adviced to contact bank B but bank B denying told they haven't received any IMPS transfer from bank A so contact to them.

Passed 5 days but issue not resolved, they are throwing case to each other and I decided to raise this issue with RBI BO.

So my question is whom should I complain against ? bank A or bank B ?
 
I had transferred amount from bank A through IMPS to bank B

Money successfully debited from bank A ( also received SMS) but transaction was pending ( gone in process) on transaction page and not credited to beneficiary (bank B).

When I raised issue with bank A they replied transaction was successful from their end and provided IMPS reference number and adviced to contact bank B.

Passed 5 days but issue not resolved, they are throwing case to each other and I decided to raise this issue with RBI BO.

So my question is whom should I complain against ? bank A or bank B ?
I would suggest, start with both bank's (source and destination)branch in email, with full details.
2- Raise online in both bank's internal grievances.
They can coordinate each other better, where the payment is !!!
 
Bank A if transaction was unsuccessful but money debited and receiver not credited
Transaction was in process only at the transaction page after that this transaction is not mentioned in transaction history.

I received successfully debit message with IMPS reference number.
 
Firstly , tweet to NPCI about the transaction with imps reference number date of transaction and other details and see what they have to say .
 
Firstly , tweet to NPCI about the transaction with imps reference number date of transaction and other details and see what they have to say .
If the amount does not get credited to beneficiary amount gets reversed.. there is some TAT for that .
 
I would suggest, start with both bank's (source and destination)branch in email, with full details.
2- Raise online in both bank's internal grievances.
They can coordinate each other better, where the payment is !!!
As I mentioned they are transferring blame to each other and not in mood to find out the issue.
 
As I mentioned they are transferring blame to each other and not in mood to find out the issue.
They will keep on blaming each other banks never takes responsibility of failed transaction.
Once in 2020 -21 my upi payment got stuck of 20k . I went to bank and they said you transferred money through UPI Gpay contact them .... We are not responsible .
 
Pl clear -
1-You are the party in both side ?
2-Have you that mail , written to both of the branches stating issue, with details ?
3-Banks Name ?
Yss, that was self IMPS transfer. Myself both sender and beneficiary. Have emailed conversation from both.
 
my question is whom should I complain against ? bank A or bank B ?

From what I remember, it is always the source bank, even if the fault is with the destination bank. So, if there is an issue with destination bank, it is the responsibility of the source bank to refund the funds bank to the end-user. You don't have to go after intermediaries or the destination, even in a complex transactions where multiple intermediaries are involved. There is no way for us to proof that our funds are stuck somewhere else. However, the source bank will have all the traces of your fund.
 
From what I remember, it is always the source bank, even if the fault is with the destination bank. So, if there is an issue with destination bank, it is the responsibility of the source bank to refund the funds bank to the end-user. You don't have to go after intermediaries or the destination, even in a complex transactions where multiple intermediaries are involved. There is no way for us to proof that our funds are stuck somewhere else. However, the source bank will have all the traces of your fund.
Are you sure it's responsibility of source bank even if they have successful IMPS reference number ?
 
Are you sure it's responsibility of source bank even if they have successful IMPS reference number ?

If I am sure, I wouldn't have mentioned "from what I remember".

That said, it doesn't matter what status is shown by the source bank. It is simply the source bank's responsibility to move your funds to the destination. You can easily prove it (to RBIO) by showing the statement. You don't have to talk / write much with the source bank actually as it can get complicated. Level 1 support and nodal are enough. Then, to RBIO. Since you already have contacted both banks, there is no need to wait to reach out to RBIO. The complaint should always be with the source bank, though. You trusted the source bank to transfer the funds. It simply failed, even if the status says otherwise. It could also be due to technical issue in which case only RBI knows where your money is. Not you.

Only if the transaction amount is larger, there is a possibility that the destination bank may have put it on hold. In that case, you may make a visit to the branch or call the actual branch to discuss the issue. These days most banks have individual email IDs as well. So, if you can't go in person, write them a nice email.
 
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