Canara Bank Ordered to Refund Excess Remittance Fee

A Canara Bank error while remitting New Zealand dollars (NZD) to a student's education at the University of Canterbury in New Zealand resulted in his parents paying Rs 22,019 more than they should have.

Navbinder Kaur and her husband Gurbir Singh complained that despite repeated requests, the bank neither corrected the transaction nor refunded the additional amount debited from their account.

The Amritsar District Consumer Disputes Redressal Commission held Canara Bank responsible for 'deficiency in service' under the Consumer Protection Act, 2019, and ordered the bank to refund Rs 37,000 with 6% annual interest and pay Rs 15,000 as compensation.

The commission found that the bank had failed to exercise due care expected from a financial institution, resulting in a direct financial loss of Rs 22,019 for the complainants.