IMPS fund transfer-timed out, money debited, no refund?

Question

I have an saving Account bank and I have transferred Rs 28000/- using IMPS on 14th Sep 2015 at arount 3.19PM to Amount debited from a/c but not yet credited to recipient. I got message that it timed OUT and status shows in my Netbanking as Transaction Initiated. .Either initiate the Tranc or refund the money into the account. Please Look into this issue and resolve it as soon as possible From:SAHANAWAZ ALAM NORTH 24 PGS, WB.

Answer 1

Sahanawaz,

At the outset, let me clarify that this site is designed by a group of Senior Banking Professionals to assist Bank Customers to provide guidance for resolution of any complain/query in respect of financial services. This site does not belong to any Bank nor a regulator, which may please be noted.

As regards transfer attempted through IMPS, please check with your Bank whether funds stand transferred. If not, you may ask your Bank to refund the money as the same is lying with them. I would also suggest you to re-check the beneficiary account details. If the transaction status is initiated, there is likelihood that funds might be lying with your Bank. You may escalate the issue to nodal officer - grievances whose coordinates would be available on the Bank's website.

Regards

Deepak