If the consolidated charge is deducted from the customer’s account, it will be refundable or not, it depends on case to case. If the money is deducted from the account due to any technical mistake, then it will be refunded.
There is a complaint of a customer on Axis Bank’s Twitter account Axis Bank Support that Rs 400 was deducted from his account as a consolidated charge. When the customer called the customer care to inquire about this, he got information about this charge. On calling the bank, it was found that the customer has done a transaction after 5 pm, so Rs 250 has been deducted as fee for that transaction.
The customer has also given a screenshot of the bank’s message in his complaint sent to Axis Bank. The message reads – Consolidated Charges May 2021, Cash Transaction Fee – 150, BNA Convenience Fee – 250, Total Rs 400. When this customer asked Axis Bank a question on the deduction, it was said about Rs 250 that BNA fee has been imposed due to the transaction after 5 pm.
what is the matter
Axis Bank has asked the customer to send the details of the complaint. On asking the experts about this, it came to know that when the bank deducts money in the name of consolidated charge, then there is less chance of its refund. Firstly, there is no use in complaining about it online. For this, the customer will have to go to the branch of Axis Bank and make a paper complaint.
@AmitShah @narendramodi @PMOIndia @nsitharaman @RBI @RBIsays I have deposited money in my axis bank just because I trusted you guys. Now axis bank is looting me. Its your turn to give me justice. Kindly take strict action on axis bank and ask them to refund my money. https://t.co/ur7BvxhsSl
— Rahul Singh (@funnycric) June 14, 2021
Actually, the consolidated charges depend on the type of bank account and how many transactions are being done from that account. Consolidated charge also depends on how much money or balance is being maintained in the account. At the time of opening the account, the bank informs about this charge, which should be read carefully. This will not cause any inconvenience later.
Consolidated charge law
If the consolidated charge is deducted from the customer’s account, it will be refundable or not, it depends on case to case. If the money is deducted from the account due to any technical mistake, then it will be refunded. But if money is deducted in the name of Consolidated, then the chances of getting it back are negligible. If any charge is deducted due to the mistake of the bank, such as recharged the mobile from the mobile app and the money is deducted without recharging, then it gets refunded within 7 days. This is a technical error of the bank, which is compensated by the bank. But the consolidated charge is not refundable soon.
There is a rule in this too. Suppose you deposited a check in the bank but due to the delay of the bank staff, the check was deposited late. In such a situation, the balance will be deposited in your account late. In this situation, the minimum balance in your account may fall and the consolidated charge may be deducted by the bank. But since this mistake was not yours but the bank staff had deposited the check late. Therefore, the consolidated charge deducted from your account will be refunded.
