- This topic has 13 replies, 5 voices, and was last updated 1 year, 4 months ago by
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UHey everyone,
I recently noticed a **negative balance** in my Jupiter account and found out that Jupiter **automatically adjusted** my savings from a Jupiter Pot to pay my **OneCard credit card dues** without my authorization.
I had an ongoing dispute with OneCard, which is why I hadn’t paid the outstanding amount yet. But Jupiter deducted the money **on its own** without notifying me, I was saving the money for an emergency for my mother’s operation and it’s this week.
Is this legal? Can banks/NBFCs do this without my explicit consent? Has anyone else faced a similar issue? What are my options to challenge this?
Would really appreciate any insights! I really do not know what to do
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SI hope your mother gets well soon.
Are you saying the amount deducted was more than the balance you had?
This sounds illegal.
1. Need to understand if you had an Autopay enabled for that credit card bill.
2. If your balance is negative, check if you have overdraft enabled on your account. By default most banks in India, don’t have this or take a fee to enable it. They should’ve blocked the payment.
3. Even for a mandate, the payment should’ve failed instead of taking your account to a negative balance.
4. Check for any communication received from Jupiter about a future deduction to notify you. Read the terms carefully. There should be a mention of the fact that they will overdraw from your balance.
5. Raise a complaint immediately if all of these are a strict no from your end.
6. This will take time, escalate it and keep raising grievance until the 30 day period passes and if you don’t get a favourable resolution, take it to the RBI ombudsman.All this based on my understanding. But also check if you can escalate it directly to a pno. Jupiter being a neo bank might not have all these matrices. But I’d still suggest reaching out because you’ll need sufficient proof.
Read the terms of your account creation document too, to ensure that you were never informed about any overdraft facility and the bank had no business deducting your money. However, it’s unlikely that Jupiter will know about your card due unless you added it to the bills and enabled Autopay.
NAL
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UDoes it work? I raised a petition last time and they solved the ticket without any resolution. At this point I feel so helpless, getting no response from anywhere. This was a medical emergency fund that I need this week for my mother 🙁 have lost it all
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LI have fought similar cases. Send a legal notice to them and if no response comes, file a case in consumer court. Ask 50k as compensation. Your matter will get sorted around 6 months.
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UYeah! Onecard has partnered with multiple banks and to my bad luck both my jupiter and onecard is under Federal Bank
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USo, as per banking laws, they have the right to set off, means, if you have money, they’ll use that money, from your account to pay off your dues.
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UIts illegal! They need to atleast send me a notice or give me a heads up
Theyve agreed to this over an email as well
As per the RBI guidelines they can’t do this -
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ILately, there have been multiple instances of such manual cross-deductions, where OneCard-Federal’s dues are being settled against the money in A/cs of Jupiter and Fi. OneCard is shown as the beneficiary of the account, and money is settled. In 7/10 cases, there is no prior intimation or even a post-settlement email for the transaction.
This, however, is not allowed without the consent of the end user. The bank may not transfer the funds; they may, in applicable cases, put a lien, but they cannot outright transfer the money.I would advise you to raise complaints and keep escalating to available grievance levels up to PNO.
After exhausting these options, you can connect with the RBI Ombudsman (post 30 days of complaint registration and non-resolution).-
UThankyou!
I’m connecting with lawyers to look into this
They’re now playing the blame game and it feels like I’m talking to robots and not humans when I talk to the customer care because they’ve the same script and just don’t seem to understand
Jupiter’s representatives are infact agreeing to the fact that this unauthorized transaction was indeed not correct and they should have informed us in advance
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