[Resolved]  Cashe — After Approval Loan Amount Not Disbursed- TRANSFER FAILED

Mar 17, 2024

Updated by [email protected] Even after providing complete explanations and describing the situation, you are still not responding or taking any immediate action to address the issue, seriously?

Mar 19, 2024

Updated by [email protected] Team,

Disbursement still shows in process but have not received amount in my bank account, have been waiting for the amount from 5th March 2024.

Mar 19, 2024

Updated by [email protected] Team,

I really don’t understand, now again I see in the App that “Sorry, Loan Disbursement Failed, please re-apply with updated bank statement”

This was the same message I received on 15th March when I was waiting for Disbursement and after re-applying with updated bank statement, I am again today getting the same message. After completing all the process steps and signing agreement and e-mandate, why is this happening? Why am I getting such messages or notifications when Loan Amount has to get transferred to my account? Can you please let me know what else is needed from my end and when you will be fixing this issue and transfer funds to my account?

Mar 19, 2024

Updated by [email protected] Team,

I really don’t understand, now again I see in the App that “Sorry, Loan Disbursement Failed, please re-apply with updated bank statement”

This was the same message I received on 15th March when I was waiting for Disbursement and after re-applying with updated bank statement, I am again today getting the same message. After completing all the process steps and signing agreement and e-mandate, why is this happening? Why am I getting such messages or notifications when Loan Amount has to get transferred to my account? Can you please let me know what else is needed from my end and when you will be fixing this issue and transfer funds to my account?

Mar 20, 2024

Updated by [email protected] Team,

I have not received your call and I don’t see issue being fixed in the app as well. I am still seeing “sorry, disbursement failed, please re-apply with updated bank details”

I don’t quite understand, I am your customer from 4 years and have taken multiple loans from you and paid. All my bank details are correctly updated in the app and same can be cross verified with my uploaded bank statement. It must be your fund transfer person is not entering my bank details correctly while initiating transaction. Please look into this with a high priority and fix the issue and transfer my approved loan amount and update the same in the app. Please note - I am facing this issue 2nd time in last 15 days and even if I re-apply the loan, same issue will come until you identify the issue and fix it from your end. Please don’t make your Diamond loyalty program customer go through such dissatisfaction and inconvenience like this.

Mar 21, 2024

Updated by [email protected] Hi Team,

Since I have medical emergency in my family, I have reapplied loan as you suggested in the app.

Request you to go through all my concerns and complaints I have been highlighting and going through lot of inconvenience.

Please process my application immediately and ensure disbursement is initiated correctly and avoid mistakes or wrong entries in disbursement transactions like you did in last two times.

If there is anything differently needed to be done from my end, please do advise.

Mar 22, 2024

Updated by [email protected] Team,

Even after multiple follow ups, you are not making an attempt to understand issues raised by the customer and you are not fixing the problem. This is very disappointing, you did not even call me to discuss and fix the disbursement issue.

Mar 25, 2024

Updated by [email protected] Hi Team,

I have been waiting for loan disbursement since from 5th March and you are still advising me to have patience?

Kindly go through all the complaints and concerns I have been raising before responding with your generic statement.

In last 20 days, twice I have applied for the loan and both times it was approved, agreement signed and e-mandate completed, but on both the times, you did not transfer the loan amount with the error message as “Transfer Failed” and advised me to re-apply with updated bank details.

I have no idea why disbursement of loan amount is being failed as all my bank accounts details are updated correctly in the app and e-mandate was successful also all my past loans EMI were auto debited from the same bank account details and in past, I have received all my past loans disbursements were received on the same bank account details.

This is my 3rd time applying for the loan due to Transfer Failed error message, at least this time, please ensure to check the error message carefully and fix it. Kindly ensure loan amount is disbursed to my bank account by entering correct bank details while initiating bank transfer.

You are creating lot of inconvenience to me with your loan processing delays and “Transfer Failed” error messages while disbursing the loan amount.

I am your customer from past 4 years and I have more than 800 credit scores and most importantly I am part of your Diamond Loyalty Program customer.

Considering my track record and profile with you, I request you to ensure smooth customer service and experience along with quicker processing of my loan and error free disbursements to my bank account.

Mar 26, 2024

Updated by [email protected] Hi Team,

Can you please care to explain why you are unable to approve by loan application this time?

On 12th March 1024 - loan was approved and you were unable to disburse/transfer the loan amount to my bank account and you displayed an error message in the app that “Transfer Failed and Re-Apply with updated bank details”

As per your communication I re-applied

On 18th March 2014 - loan was approved and you were unable to disburse the loan amount or transfer to my bank account again and you displayed the error message in the app as “Sorry, Disbursement Failed, please re-apply with updated bank details”

Like a fool I trusted you and I again re-applied by uploading my latest bank statement

And today (26th March 2024)

You are rejecting my application and informing me that you are unable to approve?

Are you out of your mind? Do you even have any ethics and value to the customer?

I am your customer from last 4 years and took many loans and repaid many loans to you, my current credit score is above 800 and I am part of your Diamond Customer Loyalty program

What other strong profile do you need? You still rejecting my application and even if you approve also, you are not disbursing the approved loan amount to my bank account.

This is a misconduct and unethical practice from RBI Licensed lending institution and I am reporting your this kind o[censored]nfair and unprofessional and unacceptable financial practices to RBI.

You should have a sense of responsibility being a RBI licensed financial institution. I will be challenging your practice and license with RBI and Consumer Court for corrective actions from the authorities.