Bank disputes are resolved within 45-60 days from the date of receipt of TDF with complete supporting documents.
In the era of digitalisation, bank processes have become simpler. Earlier, a transaction was carried out when the customer reached the bank physically but now with the advent of new-age technology, things have changed. Now, a customer sitting on a couch or sleeping on a bed at their home can directly send the money in several ways.
But every positive change brings negative effects as well if it is used excessively. With innumerable digital transactions being carried out daily, the cases of failed money transfers or fraudulent activities have been rising. But if you are having such issues with the State Bank of India, there are two ways you can deal with it.
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Raising a dispute
On your YONO SBI application, go to payments history. Select the payment, which has issues like failed attempts or showing still pending. After selecting, you can see a bar mentioning ‘Raise Dispute’. Select the option. Please remember that a transaction dispute can only be referred to SBI within 25 days from the date of the transaction along with the Transaction Dispute Form (TDF) and supporting documents (as mentioned in the TDF). In case, the TDF and supporting documents are not received within the timeline, the bank will be unable to raise the dispute.
Further, the liability of the transaction would lie with the customer. Bank disputes are resolved within 45-60 days from the date of receipt of TDF with complete supporting documents. Although, complex cases could take more time.
Whenever a dispute about a transaction is brought up, an inquiry may be started along with a temporary credit to the extent of the disputed amount, based on the nature of the dispute. The impact of the disputed transaction on the overall balance will be offset by this short-term credit. This is to protect you from being negatively affected while the investigation is ongoing.
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The second way to raise a dispute with SBI is by following these methods:
Mail the transaction issues to the State Bank of India
A customer can mail his or her grievance at- [email protected]
Don’t forget to mention the date of payment, amount, and 12-digit transaction reference number. You can send the RRN i.e. Retrieval Reference Number for refund-related issues.
