Compensation as per RBI

[sjmajumder]

U had mentioned this previously as well with year (I don't remember), again I say, at that time also, there was the existence of RBI's guidelines.

I don't recall...maybe I am growing old

However, I am sure this was before RBI guideline as after RBI guideline banks don't charge these fees for 3 days delay.

When did the RBI guideline come into effect? I can try to find out the dates when these charges were reversed but I know for sure this was before Covid.

 

[sjmajumder]

I think he needs to contact DC/banking department instead of CC, because he had mentioned

by CC here I meant customer care - confusing I agree

 

[sjmajumder]

That is exactly what I am implying to @sjmajumder.

I am really getting old

 

[vine]

If you have a good payment history bank will always consider and reverse charges. ICICI once reversed 10K+ charges when I made payment to the wrong card by mistake. HSBC, Citi, Kotak everyone reversed charges when I made an occasional payment 2 days late (before the RBI guideline for 3 days grace came in)

Haan Bhai, I understood your point.
But that's only when we do a request to the banks. Sometimes they agree, sometimes they don't. Lots of factors to it.
I too had called SBI bank and got reversed charges for cc late payment, many years ago. After 8 years, they sent back to me ₹1.64 which I paid extra at the time of last payment & closing the credit card.
But,
It's NEVER happened that any bank will round it off even 1paisa, and let it go. That's how banks do their business.
Now, if they do their 'collection' part of their business so meticulously, why won't they do the same effort in the 'giving' part of their business. Why's there no inspiration? If they can't find their source of inspiration, as customers we should give them.
Call it bamboo or inspiration, it works.

 

[HumorSimpson]

I am really getting old

Generally I make a mental note on whom to ignore. But you are a kind one, to reply to the questions without any bias to the poster.

 

[sjmajumder]

Visit this thread, either you will laugh or get angry or irritation :

Thread 'Mobikwik mcc for credit card bill payment'

Sep 16, 2024

Please tell me MCC of credit card bill payment on mobikwik and paytm.

• Manishg
• bill bill payment credit card credit card bill credit card bill payment mcc mobikwik payment
• Replies: 50
• Forum: Credit Card Bill Payment

You guys have lot of patience LOL

 

[HumorSimpson]

You guys have lot of patience LOL

How can one forget his Mental Current Chocks.

 

[sjmajumder]

It's NEVER happened that any bank will round it off even 1paisa, and let it go. That's how banks do their business.

That's not allowed in financial accounting systems. There are some protocols banks need to follow. You can't blame them for that.

Now, if they do their 'collection' part of their business so meticulously, why won't they do the same effort in the 'giving' part of their business. Why's there no inspiration? If they can't find their source of inspiration, as customers we should give them.
Call it bamboo or inspiration, it works.

You really expect bank to call you and ask you to request for a waiver? Do you call banks and ask them to charge you if you are at a fault? Isn't it enough that when you request they keep it and reverse the charges (based on various factors)?

I may be sounding like I am favoring the bank. But please understand they have to follow certain rules. And like any other business they also want to make profits.

 

[#aniket]

You guys have lot of patience LOL

I had already mentioned, you will get irritated.

Happened so...

While commenting on this thread for the first time, I didn't see username...

 

[#aniket]

After 8 years, they sent back to me ₹1.64 which I paid extra at the time of last payment & closing the credit card.

C R A Z Y

 

[HumorSimpson]

I had already mentioned, you will get irritated.

Happened so...

While commenting on this thread for the first time, I didn't see username...

remember, its money sssh

 

[vine]

remember, its money sssh

Probably bhai was talli and posting?

 

[HumorSimpson]

Probably bhai was talli and posting?

artham kaalaa mastaru

 

[sjmajumder]

C R A Z Y

HSBC did not close my Gold card for 6 years because there was a Rs. 0.06 credit balance. I had to write to them to transfer the credit balance to my platinum card and only after transferring the amount they closed the gold card. It was not an upgrade, I closed (or at least assumed so) gold card and then took platinum card after 6 months. But both cards used to show up in net banking, I kept wondering how. Finally one day, after almost 6 years I called customer care and asked why is my old closed card showing up in net banking. Then she said, while your card is cancelled the card account couldn't be closed as you have a credit balance. Please write to us to transfer the balance to your new card and then we will be able to close the old card account.

 

[vine]

C R A Z Y

.. true,
and I didn't notice it.at.first, then I started getting weekly SMS to take back ₹1.64, and couple of reminders during calls with Customer care.
I thought banks kab se sudhar gaye.

 

[vine]

artham kaalaa mastaru

టల్లి అంటే తాగి ఉండటం

 

[sjmajumder]

U had mentioned this previously as well with year (I don't remember), again I say, at that time also, there was the existence of RBI's guidelines.

Bro, as far as I can find out online the RBI guideline came in March 2022. I don't remember exactly when these reversals happened, but I am very sure it was before Covid that is pre 2020 as I remember making these request calls from office.

 

[#aniket]

HSBC did not close my Gold card for 6 years because there was a Rs. 0.06 credit balance. I had to write to them to transfer the credit balance to my platinum card and only after transferring the amount they closed the gold card. It was not an upgrade, I closed (or at least assumed so) gold card and then took platinum card after 6 months. But both cards used to show up in net banking, I kept wondering how. Finally one day, after almost 6 years I called customer care and asked why is my old closed card showing up in net banking. Then she said, while your card is cancelled the card account couldn't be closed as you have a credit balance. Please write to us to transfer the balance to your new card and then we will be able to close the old card account.

But aren't they obligated to inform this on closing request itself? Atleast you should have received alerts for the same upon giving closure request, that some credit balance is pending, give request for withdrawal/ transfer into your bank account, like SBI did in @vine case.

They weren't supposed to remain silent about this, that you have credit balance of ₹0.06, kindly give us consent to credit the amount in your account. Upon sucessful credit, we will be able to close the account fully and permanently, till then it will remain cancelled.

They are doing practicing unfair trade practices, that's all.

 

[HumorSimpson]

టల్లి అంటే తాగి ఉండటం

which district slang ?

 

[#aniket]

Bro, as far as I can find out online the RBI guideline came in March 2022. I don't remember exactly when these reversals happened, but I am very sure it was before Covid that is pre 2020 as I remember making these request calls from office.

No no it was way before than that. I think I have mentioned the same on your previous comment as well on some thread.

And I am damn sure about it.