RTGS THE NOT SO FAST MODE OF RU TRANSFER 51
I needed to mke a very fast money transfer of a fairly large amount ( atleast by my standards ) and after exploring various options , i hit upon RTGS as the fastest and safest mode of effecting the transfer .
I arrived at the bank ( THE LARGEST PUBLIC SECTOR BANK ) at 2.30 pm and after the mandated form filling formalities , i was handed a token for my turn at the counter at 3.04 pm . The designted 6 desks were manned / womanned by just 3 staff and it was already late by the time my turn arrived .
My turn finally arrived and the process got over at 4.13 pm with me having to carry the file and documents for the Branch Managers final approval . This was done at 4.23 pm and the Manager was kind enough to inform me that the transfer would take place immidiately.
Since i have a net banking facility , there was a message that the money has been debitted from my account for RTGS transfer .
I returned home satisfied that the job at hand had been done well .
Now , comes the problem , the person for whom the money was intended informed me that the transfer had not taken place even till late into the night .
I spent a sleepless night , wondering and worrying as to what had happened to the money . Well past mid night , On going through the FAQ S on RTGI , i learnt that the money would be returned back to the sender if not delivered to the intended party within one hour of the transfer . I counter checked my net banking account and noticed that the money had been returned to my account .
Somewhat consoled , i approched the Branch Manager yesterday and he informed me quite casually that the transfer could not take place because it was close to 4.30 pm , the closing hours for RTGS transfer .
I had to go through the entire process again and the good thing is that the money has been transferred atlast .
THIS RAISES SEVERAL IMPORTANT QUESTIONS
1) why did the Bank accept the transfer challan if they knew that it might get rejected ?
2 ) why should i be liable for the extra commission charges that i had to make a second time ?
3 ) How does a person without net banking facility come to know of a failed transaction and return of money ?
4 ) How is the Bank going to compensate me with all the worry and mental torture that i had to go through .
I arrived at the bank ( THE LARGEST PUBLIC SECTOR BANK ) at 2.30 pm and after the mandated form filling formalities , i was handed a token for my turn at the counter at 3.04 pm . The designted 6 desks were manned / womanned by just 3 staff and it was already late by the time my turn arrived .
My turn finally arrived and the process got over at 4.13 pm with me having to carry the file and documents for the Branch Managers final approval . This was done at 4.23 pm and the Manager was kind enough to inform me that the transfer would take place immidiately.
Since i have a net banking facility , there was a message that the money has been debitted from my account for RTGS transfer .
I returned home satisfied that the job at hand had been done well .
Now , comes the problem , the person for whom the money was intended informed me that the transfer had not taken place even till late into the night .
I spent a sleepless night , wondering and worrying as to what had happened to the money . Well past mid night , On going through the FAQ S on RTGI , i learnt that the money would be returned back to the sender if not delivered to the intended party within one hour of the transfer . I counter checked my net banking account and noticed that the money had been returned to my account .
Somewhat consoled , i approched the Branch Manager yesterday and he informed me quite casually that the transfer could not take place because it was close to 4.30 pm , the closing hours for RTGS transfer .
I had to go through the entire process again and the good thing is that the money has been transferred atlast .
THIS RAISES SEVERAL IMPORTANT QUESTIONS
1) why did the Bank accept the transfer challan if they knew that it might get rejected ?
2 ) why should i be liable for the extra commission charges that i had to make a second time ?
3 ) How does a person without net banking facility come to know of a failed transaction and return of money ?
4 ) How is the Bank going to compensate me with all the worry and mental torture that i had to go through .
Comments
Post a Comment