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
.