| Name of Complainant | |
| Date of Complaint | July 27, 2025 |
| Name(s) of companies complained against | Binomo |
| Category of complaint | Investments |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
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I had requested a withdrawal of ₹44,600 from my Binomo trading account on 16/07/2025 (Withdrawal ID: c635da69c59b0fbc7cd32dce7db83105). However, the amount was never credited to my bank account (IndusInd Bank), despite Binomo claiming that the payment was processed.
They shared a fake UTR number, and upon my verification with IndusInd Bank (beneficiary bank), Indian Overseas Bank (provider bank), and through Banking Ombudsman complaint, it has been officially confirmed that no such transaction took place and the UTR is invalid/fake.
Since then, I’ve been constantly following up with Binomo through their app, emails, and live chat, but they are delaying the matter with copy-paste responses, making false promises of 7–10 days resolution, and diverting the issue instead of solving it. It’s been over 7 months, and they are refusing to share bank transaction statements from their payment provider to verify the claim.
This is a clear case of:
Financial fraud
Misleading consumers
Denial of legitimate withdrawal
Suppression of transaction details
Violation of RBI guidelines and Consumer Rights
I have already started escalating this matter to:
RBI
Cyber Crime
CVC
Lokpal
PMO
SEBI
Ministry of Consumer Affairs
I request the National Consumer Helpline to take immediate action and direct Binomo to either refund the ₹44,600 or share valid banking proof of the claimed transaction. Also, kindly look into penalizing the platform for cheating Indian consumers and misusing their financial data.
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