Regarding mishandling of ECS by BAJAJ FIN SERV
Is there any regulations or standards for functioning of Non - Banking organization like BAJAJ FIN SERV. on 10th and 11th June 2019, a total of 27 auto debited transactions are made which amounts to more than Rs 8000 without any information. This includes 22 transactions of Rs 295 each for ECS failure. When contacted they asked to contact the concerned bank for refund. Bank says, it is the BAJAJ FIN SERV responsible who presented it at bank. All the details I have. Suggest me please, what to do. more
Several years ago I had a similar experience with Airtel.
Due to some error there was an interruption in ECS payments to Airtel over several months. It turned out that Airtel had sent their ECS demands to our bank where name and account number did not tally. The bank also did not challenge.......their mistake, I think.
However, Airtel accepted their mistake, we paid the arrears with cheque, without penalty/interest. Those were the golden days of trust and reason, I guess. more
SBI is same every where more
You have not specified why the deductions were made. Was your EMI due on this date? If it was and Axis bank was aware of your EMI then why was it declined by the bank.
This seems to be a bank mistake and not Bajaj Finserv.
Anyway it is not clear from your post and you need to provide the details. more
It is mentioned that ' ECS fail for BAJAJ Finance. Although ECS is cleared. This month also in July, although balance is maintained, they are asking for bounce charges. They have not cleared on EMI date. more
My experience is just the opposite. I need to repay some Rs.40,000/- within 8 months for purchasing a split AC. Every month auto-debit was made from my SBI A/C and automatically deduction stopped after the stipulated period. I think there is a problem with your debit A/C. more