Hack of the Day: Recover Stuck or Failed Bank Transfers with Ease
The Times of India introduces Hack of the Day, a new weekday series offering quick, practical solutions to everyday hassles. Each hack aims to save you time, money, or stress by leveraging accessible tools and features, from government websites to common apps. In essence, it provides simple fixes for smarter living.
Digital Payment Woes: When Transfers Fail or Get Stuck
Digital payments have become the backbone of daily transactions, but issues like failed, delayed, or stuck transfers through NEFT, RTGS, or IMPS can cause significant inconvenience. While most failed transfers are automatically reversed within Reserve Bank of India (RBI) timelines, knowing how to track and escalate these cases can reduce stress and accelerate recovery.
What This Hack Solves
This guide helps you trace and recover money when a bank transfer via NEFT, RTGS, or IMPS is delayed, fails, or gets stuck between banks. Follow these quick steps to ensure your funds are restored promptly.
Quick Steps to Recover Your Money
- Check Transaction Status
- Open your bank's mobile app or netbanking portal.
- Use the Unique Transaction Reference (UTR) or reference number to verify the transaction status.
- Contact Customer Care
- If the status shows as failed or remains pending beyond 24 hours, call your bank's customer support.
- Share essential details: UTR, transaction date, amount, sender information, and beneficiary details.
- Escalate If Needed
- If the issue remains unresolved after 2–3 working days, file a formal complaint via the RBI's Complaint Management System (RBICMS) at cms.rbi.org.in.
Note: Most failed transfers are auto-reversed within RBI timelines, but early complaints can help speed up the recovery process.
About the Author
The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. Their coverage spans gadget launches, reviews, trends, in-depth analysis, exclusive reports, and breaking stories impacting technology and the digital universe. From how-tos to updates on AI, cybersecurity, personal gadgets, and platforms like WhatsApp, Instagram, and Facebook, the TOI Tech Desk ensures accurate and authentic reporting.
