Most Wanted from Banks:
I want my bank to fight for me and have my back when I encounter issues such as refund problems , poor product/service quality , or online fraud . It’s frustrating and time-consuming to deal with merchants on my own. The bank should at least send an email to the merchant regarding my issue and have customer support guide me through these situations.
In the past, when I was a victim of online fraud , the bank didn’t help me much . They just told me to file a FIR and fill out a form in person , but didn’t mention the option of registering a complaint on the cyber department’s website , informing the sender and receiver banks and platforms , or calling the cyber fraud helpline .
It would also be great if banks had a blog on these topics to educate their customers and make them feel safe and secure when making purchases or sending money .
I want the refund and chargeback process to be simple and have the bank’s team guide me through it. I’d even choose a bank that provides strong support over one that offers more rewards and cashbacks .
This is a big problem in the banking industry today and I believe neo banks have the potential to solve it and be game-changers . However, neo banks are still dependent on their partner banks for handling transaction disputes , so there’s still a wait for that. Nonetheless, neo banks should not neglect this issue or they won’t be able to differentiate themselves from traditional banks . The big players like IDFC , AU , and Paytm Payments Bank are still in the game .