SBI YONO Transaction Woes: Customer Complaints Highlight Delayed Fund Transfer

A recent social media post by a disgruntled customer sheds light on issues surrounding fund transfers via the State Bank of India's YONO platform. The individual, identified as Suprith S Hasaragundagi, raised concerns about a transaction made on December 31, 2023, which has yet to reflect in the recipient's account. Such complaints underscore the significance of efficient and reliable banking services, prompting a closer examination of the matter.

Details of the Complaint: Suprith S Hasaragundagi took to Twitter on February 9, 2024, to express frustration over a transaction made through SBI YONO. Despite initiating a transfer of ₹2100 on December 31, 2023, the funds failed to reach the intended recipient even after nearly two months. The tweet tagged both the official SBI YONO handle (@YonoSBI428847) and the official State Bank of India handle (@TheOfficialSBI), seeking resolution for the issue.

Response from State Bank of India: In response to the customer's grievance, the State Bank of India acknowledged the problem and directed Suprith S Hasaragundagi to their dedicated portal for Complaint Management. The bank expressed regret for the inconvenience caused and provided instructions for raising a complaint regarding YONO transactions through the portal.

Further Investigation: Upon examining the provided image containing transaction details, it is evident that Suprith S Hasaragundagi conducted two NEFT transactions on December 31, 2023. The first transaction amounted to ₹100.00 with a corresponding UTR number of SBIN323365256587, while the second transaction totaled ₹2,000.00 with a UTR number of SBIN323365256634. However, despite the completion of these transactions, the funds failed to reflect in the recipient's account, prompting the customer's complaint.

Suggested Course of Action: Customers encountering similar issues with SBI YONO transactions are encouraged to promptly report their concerns through the bank's designated Complaint Management portal. By providing comprehensive details such as account number, transaction particulars, and relevant screenshots, individuals can expedite the resolution process. It is advisable to select the appropriate category, such as "YONO – Funds Transfer – Account debited but not credited to beneficiary," to ensure a swift and targeted response from the bank.