What Things I Face When Withdraw and Transfer Money from Yes Bank Account

March 7, 2020

I am writing this article because I am also the customer of Yes Bank, and when I wake up on Friday Morning, My Mother told me about the news of Yes Bank. At that time, I was also tensed and in panic just because from the last 3 months I receiving my Freelancing Payment in the Yes Bank Account. Here I am sharing my experience and some facts about Yes Bank which will clear your doubt.

What is the Yes Bank News?

The bank is in loss and not able to run this financial institution. Bank has a big loan which is increasing day by day. Now, RBI disrupts the board of Yes Bank and Start auditing of the bank details, accounts and other things till 3 April.

Don’t Take Panic: Your Money in Yes Bank is Secure

If you are thinking panic that your money is not secure and you can’t get deposits then you are wrong. Your money is safe but waits for the next update from the board of bank and RBI on 3 April.

Yes, Bank Mobile Banking is Not Working:

I also try to transfer some money from my Yes Bank Account to Another Account ( I Have also account in another bank) but not able to proceed.

The option of transfer money is not shown in the app.

After trying 6 to 7 time, when I log in again in the mobile banking of Yes Bank, there is notice which I found on the page which is “All Transfer Are Disabled”

What do I do?

I open my Google Pay and Phone Pay to transfer money but they are also not accepting the payment method and showing error with the linked bank.

Now, when I go home from the office, I stop on the Petrol pump for filling the petrol on Scotty and then give the Yes Bank Debit Card to Petrol Pump Employee.

Is My Yes Bank Card Working on Swiping?

No, the Yes Bank Debit Cards are not working in the swiping machine also like payment for shopping, petro pump, and many other sources.

Yes Bank ATM Withdraw:

My Yes Bank Account is just two months old and when I Go ATM of Axis Bank to Withdraw Month from Yes Bank Account, then I can’t able to proceed because other banks ATMs are not proceeding the Withdraw. I don’t know why? This is the concern of panic.

My Relationship Manager was told me to wait till 3 rd April.

Summary:

If Bank goes insolvent then depositors will get the surety of 5 Lakh Rupees.

If SBI and LIC Purchase the Holding of 49% in Yes Bank then the money of depositors will safe.

The government also ensures the public about the safety of money in the Yes Bank and appeal for not taking panic and worry.