Money not credited - Niyo Global


I have used an IMPS transaction to transfer money to the NIYO Global account but still, I have not been credited with the money. Customer support says it will take more than 5 days. But as per the RBI Banking Ombudsman Scheme, the banking entity has to settle the payment in T+1 days, which is 24 hours from the payment. Please let me know of the same.

Also, if I want to lodge a complaint against Niyo Global to RBI, please do know the entity has to pay 100/day late fees as per the scheme. As Niyo Global uses SBM Limited as banking partner, SBM Limited is covered in the scheme and the complaint can be lodged.

Hey @SAI_UTTAM_GADDE! Welcome to Niyo Community!

Regret the inconvenience. The delay in crediting the funds to your Niyo Global by SBM account has been escalated to the bank and they are investigating on it. Our team is constantly following up on this. We’ll update the status to you on your ticket 1308723. In the meanwhile, we kindly request you to check if you have received the refund to your source bank account.


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