How to Resolve Bank Declining Transactions? [solved] | Transaction failure

In this column, we will list out different methods that you can use to solve the issue of bank declining transactions.

Bank decline transactions for numerous reasons but the prime reason for transaction decline is due to the Risk-Based Authentication (RBA) system.

Bank uses AI-powered banking fraud prevention software that keeps track of your bank account behavior. Whenever you perform some activity that is unusual or the system detects a potential fraud activity then the system immediately blocks the transaction.

These types of errors usually can be solved by contacting the bank branch by visiting the bank premises or by calling the bank on the customer care number.

The following are the list of event that can trigger the Risk-Based Authentication system of the bank-

Online Card Transaction Failed

When you are using your debit or credit card for online shopping then it can trigger the RBA system if the amount of the product exceeds a certain limit. There are two different types of limits-

• Transaction limit is set by you
• Transaction limit set based on your behavior

Transaction Limit set by you

You can set a transaction limit of your debit or credit card by using the net banking portal. If you have set the transaction limit using your net banking and the payment that you want to initiate exceeds the set limit then you might face a transaction failed error.

In that case, you can follow these steps to change the transaction limit of your card online-

• Visit the official net banking portal of your bank and log in to the bank account using your login credentials
• After logging in, you have to navigate to the setting section/Transaction section/ATM Card Services (different bank uses different terminology)
• Now, select the debit card you want to increase the limit for and click on the continue button
• You’ll be redirected to a debit card page where you have to enter the amount that you want to increase to and click on the submit button
• After clicking on the submit button, an OTP will be sent to your registered mobile number, you have to enter the amount and click on the proceed button
• Now, your debit card limit has increased and you can now do the payments as required

Transaction limit set based on your behavior

RBA system uses AI technology and Machine learning to keep track of your banking behavior and if you initiate any payment that is detected as fraudulent (even though it is not) would be tagged as risky payment and your payment will be declined by the bank.

In that case, you have to contact your bank branch or credit card company and let them know that your payment request is not a fraud. You can use the customer care number provided by your bank to establish the contact or you can simply visit the bank branch and convey your grievances regarding the payment failure.

Online Shopping Transaction Failed

The Transaction failure of UPI while payment failure is due to two reasons-

Technical Issue with the Bank

This is a common issue that bank faces, whenever the backend server is going through maintenance services then the technical difficulty to access the online banking services. To solve this issue, try other modes of payment like net banking, UPI Transaction, mobile banking, etc.

Usually, this will work and your payment will be successfully done and after the maintenance of the backend servers is finished then you can access the online banking services as usual.

Insufficient Funds

Now, this is a common issue, sometimes we are not aware of our bank balance details which lead to payment failure. So, make sure you check your bank balance before using it for payment.

UPI Transaction Failed

There are different reasons why a UPI transaction might fail. The simplest reason could be an insufficient balance so, make sure you have sufficient balance before initiating the process.

Another reason why the payment might fail while using the UPI transaction is because of the Risk Score. If your transaction risk score is at the lower end then your payment will be declined by the bank resulting in failure of the payment.

You have to contact the bank using a customer care number or by physically visiting the bank branch. If you are unable to establish contact with your bank then you can following method-

• Try to uninstall and install the app again and re-login to your account
• Try to use other UPI vendors  and deregister your account from other vendors, this will clear the log of the system and you’ll be able to use the UPI transaction
• If both of these steps failed then the problem is from the backend of the bank which can only be solved by contacting the bank