A lot of people think the money is gone for good. That is not always true. India has a clear rule that protects you when money leaves your account without your real permission.
The three-day rule
Under an RBI rule, if you report an unauthorised transaction within three working days of the bank's message, your liability can be zero. That means the bank may have to return the full amount. The clock starts from the bank's SMS or email, not from the day the scam happened.
What counts as unauthorised
Unauthorised means a payment you did not knowingly approve. If someone used your OTP after tricking you, or drained your account after a SIM swap, that counts as unauthorised, and it is your strongest ground to have the bank carry the loss. Banks sometimes push back when an OTP was shared, so be ready to explain that you were deceived and to escalate if you need to.
When the rule is harder to use
If you were tricked into approving each payment yourself, like in a fake investment app or a task based job scam, this rule may not apply in the same way. You still have real options though. A police complaint under the law on cheating, plus a complaint that your bank failed to flag repeated suspicious transfers, can both help your case.
What to do
- Report within three working days of the bank's alert.
- Get your complaint in writing, both with your bank and on cybercrime.gov.in.
- If the bank delays past its limit, escalate to the RBI Ombudsman for free.
The bank is required to sort out a valid complaint within ten working days. If it drags on past ninety days, it may even owe you interest.
If the bank says no
A refusal is not the end. You can take a free complaint to the RBI Ombudsman online at cms.rbi.org.in. You do not need a lawyer, and there is no fee. Plenty of people who were turned away by their bank at first have had that decision overturned at this stage, so it is worth pushing.
Common questions
Does the three day clock start from the scam or from the bank's message?
From the bank's message. The three working days are counted from the date the bank sent you the SMS or email about the transaction, not from when the scam happened or when you noticed it.
The bank refused my refund. What now?
File a free complaint with the RBI Ombudsman at cms.rbi.org.in. Keep your bank complaint reference and your NCRP complaint ID ready. You do not need a lawyer, and the ombudsman can direct the bank to act.
I approved the payments myself because I was fooled. Can I still get money back?
It is harder, but not hopeless. Cases like fake investment apps go through the police under the cheating law, and you can also argue your bank should have flagged repeated transfers to the same account. Report it and push both routes.
How long do I wait for a decision?
Your bank has ten working days to resolve a valid complaint and up to ninety days in tougher cases. If it goes past that, the bank may owe you interest, and you can escalate to the ombudsman.
Find out which route fits your case and get your complaint emails written for you. It takes about a minute.
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