How to dispute ECS transaction

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Deal Cadet
Tekk

I have a loan with a nbfc ..Emi amount debited from from my federal Bank through ECS.

It’s 12 days since the successful ECS transaction..but still I’m keep getting calls from NBFC for repayment . They asked bank statement and i have shared multiple times.

even worst thing is that they have submitted ECS again yesterday obviously i didn’t maintained amount as the EMI already debited.bank charged me 600rs

federal bank cc refused to raise a dispute. What are my options here resolve the issue..


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Deal Newbie Deal Newbie
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Complaint krdo bank me
Written complaint*

Hotshot Hotshot
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nbfc name ?
something like this happened with me with bajaj and nothing worked , nbfc will say that emi bounce charges are charged by bank and not by nbfc , a blame game will go on from both sides in this case.

Deal Cadet Deal Cadet
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chiragcb wrote:

Complaint krdo bank me
Written complaint*

To visit branch i need to spend around 500rs.  Branch staff  don’t even care about these type of issues. They are there to sell SOMETHING to every customer..


Deal Cadet Deal Cadet
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vkrmjeet wrote:

nbfc name ?
something like this happened with me with bajaj and nothing worked , nbfc will say that emi bounce charges are charged by bank and not by nbfc , a blame game will go on from both sides in this case.

Can we stop/cancel ECS through branch.?


Hotshot Hotshot
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Tekk wrote:

Can we stop/cancel ECS through branch.?


it depends upon nbfc , with traditional banks you can make manual payments i.e transfer money directly into loan account from your saving account or cash deposit into loan account but with nbfc you have to check with them how the repayment will occur.

you can surely cancel from bank side but it can create issues with the nbfc and it’s always better to cancel through nbfc side to eliminate any chance of further loss.

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