From increased premium payments to getting seven midnight calls, users vent on social media against RBI’s new auto-debit rules

• Reserve Bank of India’s new rules for recurring payments have gone live today.
  
• Under the new guidelines, in some cases, users will have to register and authenticate their payment mandates or standing instructions once again.
  
• This has caused an uproar on social media, with users complaining about receiving notifications from several services to re-authenticate their mandates.
  
• In some instances, users have also complained about their insurance premiums going with specific banks after the rule change.
  

The new auto-debit guidelines for recurring payments have kicked in from Friday and users who have set up auto-debit transactions for online subscriptions or recurring payments for utilities and other services have been affected by the new guidelines.

While banks and various platforms have been informing users about the new guidelines for auto-debit transactions, users have finally started noticing the effects of the change.

Here are some of the reactions from social media about the new guidelines for recurring payments or auto-debit transactions:


A user complains that he will have to re-authenticate all the recurring payments.


Another user has highlighted that he has received seven calls after midnight from international service providers for authentication of monthly payments.


As per another user, SBI is charging more than ICICI Bank for creating a mandate for payment of insurance premium.



Here, a user is seen complaining how it will be difficult to explain about the new auto-debit guidelines to international companies.



Endless notifications and re-authentication is another problem that has been highlighted by users.



A user has alleged that Axis Bank is levying charges to implement auto-debit monthly installment (EMI) payments.

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