What is a lien? (ReSPONSE)
A lien is generally applied for recovery of any charges that are due in the account or in case a temporary credit is posted in your account. For a lien marked in case of TCS, there is a lien marked only on the amount that needs to be recovered as TCS charges as part of TCS recovery. This means that the amount equivalent to the TCS applicable will be held in your account until it is recovered. The bank will send the exact amount and breakdown to your registered email ID. The bank will be deducting the TCS amount (or the amount marked in lien) within 2 to 3 working days, and once deducted, the lien will be removed from your account. Meanwhile, you can always add funds above and beyond the TCS amount and continue to transact smoothly. The same is valid if you already have funds in excess of the amount that needs to be recovered.
CASES: Unable to pay credit card bill: Some of our customers are facing issues while paying their credit card bill due to a lien marked on their account, even though their account has a sufficient balance above the TCS amount (to be deducted). CSO needs to convert the chat into a ticket and add a private note with complete details of the transaction.
Label: Ticket topic: Secured Credit Card Category: Bill payment Subcategory: Lien marked-unable to pay bill
to transact (fund transfer and debit card payments):
CSO needs to convert the chat into a ticket and add a private note with complete details of the transaction.
Label: Ticket topic: SBM Category: Transactions Sub category: Lien marked - FT issue/Lien marked - TXN declined
Workbench View:
On the profile page in workbench of the Niyo SBM Savings account, you will now be able to see the Lien balance (if any) of the customer.
Note: Available balance = Account balance - Lien balance
- Available balance = Amount available to be spent.
- Account balance = Amount added by the customer into the account (overall balance)
- Lien = Lien is generally applied for the recovery of any charges which are due in the account.
Example: If a customer has added ₹5,000 to their Niyo SBM account (account balance) and the bank has marked a lien amount of ₹200 (to be recovered). The customer will only be able to use the available balance (5000-200) ₹4,800.
