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SBI Cards Charges 30rs for 1 PAISE outstanding. Be alert while paying bill.

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prem2311

prem2311

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Hi All 😉


My November bill for the BPCL card is 21,422.99. But it was rounded off to 21,423.

bpcl fin nov.png
I paid through PAYTM bill payment. It automatically fetches the bill as 21,422.99. I didn't verify with my statement and I paid with trust of PAYTM 😏

In the bill it was 21423rs.

For that 1 PAISA, They have charged around 30 rs in my next statement.

sbi bpcl fin edited.png

I mailed them the same. They have sent me Terms and conditions copy to me. 😡

SBI cards + PAYTM are building the NEXT GEN AI to take India to 1930 PAISA world. Be Ready 😎
 
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xywowowvw said:
IT worked for me
they raise a sr to reverse the charges
if not i would have gone to ombudsman for the same
and in my case reversal of annual fees and refund of a cancelled transaction was the reason they didnt count it as repayment
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Bro, Definitly i will escalate if they don't reverse the charges. I just explaining what SBI cards reply as of now. I will add your reply to my escalation email.
 
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Yes sbi cards are doing like this

I was having simply click credit card, after 1 year of use i felt i didn't need as I had other good cards so I called the customer care and they made my card as lifetime free so I kept it and later after some days I got a option to apply for add on card in the SBI card app so I applied for add on card for my brother. After few days two new cards were delivered to me, when I called the customer care they said one was the primary card and other one was the add on. I was really confused on why did they issued the primary card again as I didn't request for the reissue of the primary card and they had no proper answer for that and i just confirmed with them are there any charges for these cards and they said the primary card will be having the annual charges. I was shocked and told them that my card was made Lifetime free and why charges now. They replied as the card is reissued there will be charges. later I closed my SBI card after this incident
 
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placard said:
Lesson learned: For peace of mind, always pay few extra bucks than billed amount and at least 3 days prior to due date.
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I mean the simpler approach is to just check the statement in App/Email/SMS, whatever is the amount in bank's sms/email, pay that amount. Ideally, on the same day when you receive sms/email.

Diff banks, have diff approach in terms of round off. Few banks, round-off amount, while few others mention exact amount.
I guess exact amount is better (so that if you pay very next day of statement generation, without any new purchase, then total outstanding goes to 0.00), but expecting banks to apply common sense is too high of an expectation.
 
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Recently SBI card service has gone down, that's why I closed my SBI Card this year when they denied my milestone reward and offer me lifetime free card conversion when I raised complain.
 
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Get a clarification from SBI that if your total spends come to let's say Rs. 149.9, then why have they billed it as 150?
Since you have paid exactly what you have spent, why have they put charges for non-payment of outstanding

Next file file a complaint that SBI is overbilling you.

If they stoop low for 10p, do the same with them and blast their behinds.
 
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Samrat said:
Get a clarification from SBI that if your total spends come to let's say Rs. 149.9, then why have they billed it as 150?
Since you have paid exactly what you have spent, why have they put charges for non-payment of outstanding

Next file file a complaint that SBI is overbilling you.

If they stoop low for 10p, do the same with them and blast their behinds.
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Chk their T&C, if they haven't mentioned rounding off in it, then it's an admissible complaint in RBI + Consumer forum, and you can claim monetary compensation.
 
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Update: The first three times they sent the same terms and conditions as the reply I posted earlier. Now I escalated to the nodal officer, Asking how much is my outstanding amount and threaded them that will compliment in RBI ombudsman.

"
<after explaining my concern>

If I don't get the charge reversal, I will write this scenario to the RBI ombudsman as a complaint.

Here the RBI Gudielines,

Card-issuers shall report a credit card account as 'past due' to credit information companies (CICs) or levy penal charges, viz. late payment charges, and other related charges, if any, only when a credit card account remains 'past due' for more than three days. The number of 'days past due' and late payment charges shall, however, be computed from the payment due date mentioned in the credit card statement, as specified under the regulatory instructions on ‘Prudential norms on Income Recognition, Asset Classification and Provisioning about Advances’ amended from time to time. Penal interest, late payment charges, and other related charges shall be levied only on the outstanding amount after the due date and not on the total amount.

As per this guideline, How much is my outstanding after paying my bill? "

Will they cancel my card? 😳 😆 LOL
 
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ArpanOP said:
Paytm also has a policy for like "refund for any late fee/settlement" something like that no?
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Paytm has Paying date protection. Like if I pay today it may settle max 3 days. The bank should consider today as my paid date. If the bank considers the settlement date and levies some charges if the settlement date is after the due date, Paytm will refund the charges. They don't protect the amount.
 
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sbi is the worst bank in this case. their policies are against fair trade policy. recent example, I paid the due amount net of the refunds and they charged me finance charges. as per them they do not count refunds as payment. classic example: you make 1 lakh transaction and it times out, you make another one and it goes through, now both are billed to account and one is reversed after generation of statement. Now what will you do? you will pay 1 lakh, but sbi wants you to pay them 2 lakhs, otherwise they will start levying finance charges on 1 lakh which is not even your liability. No other bank follows this kind of policy. Worst case is what if you have only 1 lakh to pay, you are screwed.

I have raised this with RBI, lets see what they do.
 
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VicksJ said:
sbi is the worst bank in this case. their policies are against fair trade policy. recent example, I paid the due amount net of the refunds and they charged me finance charges. as per them they do not count refunds as payment. classic example: you make 1 lakh transaction and it times out, you make another one and it goes through, now both are billed to account and one is reversed after generation of statement. Now what will you do? you will pay 1 lakh, but sbi wants you to pay them 2 lakhs, otherwise they will start levying finance charges on 1 lakh which is not even your liability. No other bank follows this kind of policy. Worst case is what if you have only 1 lakh to pay, you are screwed.

I have raised this with RBI, lets see what they do.
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Such refunds are counted as payments , you are missing something here
 
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Predator said:
Such refunds are counted as payments , you are missing something here
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No bro, it's true. Even if you converted some transaction before due date and paid minimum due means all other banks considered the bill is fully paid as converted transaction got reversed. Those reversed transaction considered as repayment
But not in SBI. I faced this charges. They came with new calculation which has no logic
 
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Predator said:
Such refunds are counted as payments , you are missing something here
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Please be informed that any reversal, credits, refund received towards cancellation of unbilled transactions are not counted as a part of payment, same get adjusted towards total outstanding.

Above is response from credit card head email of Sbi
 
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