Monday, October 16, 2017

Mysterious withdrawals from #Yesbank salary account and the way the system is reacting to them

Posting one LIVE case shared by a friend on FB. Keeping her identity anonymous, sharing the experience. Key parts that are spinning off all kinds of questions and outrage in my head have been highlighted by me.

So I write this post more for financial literacy (or lack of thereof), than anything else. I was conflicted about sharing this but I'm hoping that I could get inputs from someone who has dealt with a similar situation, or not. Please feel free to PM if you have.

Facts: On Oct 9th, during the night sometime, ₹ X (a lot for a newly employed person) gets stolen from my #YesBank Salary account (₹ 19 was left behind). I am notified via SMSes, I freak out and have no idea what to do. I check my wallet and my Debit card is safely tucked in there. I call up the Yes Bank helpline, notify them of the same and get the card, phone banking and internet banking blocked. I learn that the transaction was actually an ATM withdrawal done in 3 parts, this is while my Card and I are sitting at home and lamenting over our loses (I suspect a cloned card). They say that it would take 7 working days to process this, no mention of a police complaint.

Thana 1 - I then go to my nearest thana at 10:30 in the night. They refuse to lodge a complaint and interrogate me; statements like "madam ne card ka number wagairah kisi ko de diya hoga and fir bhul gayi hongi", "cloning isn't possible nahi to aur case ate", go around. Sir, let's just wait for more such cases to happen. Finally, he says that my residence doesn't come under this thana and also I have no bank statement so no complaint can be registered. I go back home and sleep (or try at least).

Thana 2 - I have already visited the bank in the morning and acquired an account statement. We reach the thana, two inspectors discuss the case, I go through it again, they say impossible, I show them the card. After much discussion they tell me to lodge a complaint with RBI, [place name] within 72 hours. He also mentions that I need to go Thana 3 since my bank falls in that area.

I call RBI and the officer there tells me aisa nai hai, and that they don't follow the Thana rules but some random scheme that I couldn't care less about at that point. No simple yes, or no answers. Frustrated, I bang the phone.

Thana 3: This guy was nicer. He told me that I have the wrong thana. He makes two calls and redirects me to Thana number 4.

Thana 4: By the time I reach here, it's 6:30 pm, and this ordeal began at 9:30 am. I explain the scenario to them and refuse to leave until my complaint is registered. They finally hear me out and lodge the complaint.

Reflections/ musings: I realize that I have vented out quite a bit but for people still reading this,
1. I now understand why people just give and don't pursue a lot of things when it comes to dealing with such institutions, and this after just one day of running around; when I had help from a lot of people.
2. It can happen to anyone, I never thought I'd be one of them. I have a Master's degree and I had no idea how to go about this one. Need to educate myself more about personal finance and bank dealings.
3. What DIGITAL INDIA when this kind of sh't happens?

P.S. Please refrain from 'so sad', 'this is horrible', no I really appreciate it but it's been quite difficult as it is.

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