fiserv icici merchant services won't settle my 4.6 lakhs transaction.

[Oppenheimer]

Mail them every 2nd day at [email protected]. if they do not release your payment. Than simply file chargeback with your bank whose credit card you swiped. While filing chargeback do not say that your swiped at your own business. Simply say that you swiped at merchant and merchant is not able to provide goods as agreed. He is also denying to refund the amount. Within 10 -14 days you'll get mail from fiserv that chargeback has been filed against you. Simply say that your payment is held by fiserv , attach email you received from [email protected]. and say that you accept this chargeback and refund the transaction to cardholder.

If I file chargeback not mentioning I swiped at my own business and if they find out will it not be a bigger issue ?

 

[techno123]

Can you please confirm a few things. When they deducted amout from your current account. You had that much balance or not. If not than they must have made your account balance negative
Did you pay that amount if not than Did they charge interest on that negative balance.
Were you charged any chargeback fees. As in their soc it says 600rs per transaction for chargeback.

I have available balance in cc account hence no negative balance,no chargeback fee applied this incident is of previous year cant tell about this year

 

[techno123]

If I file chargeback not mentioning I swiped at my own business and if they find out will it not be a bigger issue ?

Dont file chargeback ask them to reduce refund time because if chargeback filed it will deduct from your account not from hold amount and if account balance goes negative they have many ways to recover that amount and may file a case in case of non recovery.

 

[Oppenheimer]

They have not mentioned yet how many days they are gonna hold my amount. This is the mail I received today, I just hope it’s not 540 days. 1-2 months can be adjusted, in your case it’s not that touch for you as you can file a chargeback. I can’t even do that what reason will I give them? I’ve swiped my own card at my business. And I don’t know about this nonusage charge or no usage rent. If that’s is there then it’ll be crazy. As I can’t swipe again on this POS what if again they put my amount on hold ?

 

[Oppenheimer]

Dont file chargeback ask them to reduce refund time because if chargeback filed it will deduct from your account not from hold amount and if account balance goes negative they have many ways to recover that amount and may file a case in case of non recovery.

What was their first decision when you swiped your own card ? And what reason did you give them ? How much time did they had put it on hold before they deducted to you 5 months ?

 

[Bhagat Singh]

They have not mentioned yet how many days they are gonna hold my amount. This is the mail I received today, I just hope it’s not 540 days. 1-2 months can be adjusted, in your case it’s not that touch for you as you can file a chargeback. I can’t even do that what reason will I give them? I’ve swiped my own card at my business. And I don’t know about this nonusage charge or no usage rent. If that’s is there then it’ll be crazy. As I can’t swipe again on this POS what if again they put my amount on hold ?

Even if you take payment from someone else they can put it on hold. Do not accept any payment above 10000rs. I have attached below their 1st reply and final decision.

Dont file chargeback ask them to reduce refund time because if chargeback filed it will deduct from your account not from hold amount and if account balance goes negative they have many ways to recover that amount and may file a case in case of non recovery.

I gave them everything shop photos , customer Aadhar card and contact details. Transaction slips, invoice, and clarification letter. Even asked to refund the amout to cardholders. But they stopped replying. So going with chargeback. Once they pick up their machine i will simply close their current account. Than they can deduct charges from wherever they want😂😂. Out if 4.6 lakhs , 1 lakh has been deducted from hold amount and refunded. Confirmation from bank is pending. 75000 rs is in processing to deduct from hold amount. Rest 285000 amount is under investigation by cardholders bank.

 

[Bhagat Singh]

But yes it totally depends on them if they'll deduct it from your hold amount or bank account.

 

[ALOAK]

File a police complaint against the agent who sold you the machine and wrongly registered it and follow up with rbi ombudsman they are also slow. Icici bank is know for defrauding customers and vendors. 80 percent are crooks in ICICI. However you should have asked the agent to supply a copy of registration.

 

[Oppenheimer]

I contacted customer care they told me if I don’t do transaction for 30 days I’ll be fined 20000 and if I wish to discontinue services I’ll Have to pay 6000 plus gst. Same thing that happened with you has happened with me. The agent is not picking up my calls. Well I don’t mind doing other transactions on the card. But I don’t want them to put those transactions on hold either . I want to know how much can they hold my transaction if I’ve used my own card . So there’s no issue of anyone filing for the chargeback as I’m the card holder .

 

[Bhagat Singh]

I contacted customer care they told me if I don’t do transaction for 30 days I’ll be fined 20000 and if I wish to discontinue services I’ll Have to pay 6000 plus gst. Same thing that happened with you has happened with me. The agent is not picking up my calls. Well I don’t mind doing other transactions on the card. But I don’t want them to put those transactions on hold either . I want to know how much can they hold my transaction if I’ve used my own card . So there’s no issue of anyone filing for the chargeback as I’m the card holder .

Hahaha same here 15000+gst for non usage. Surrender charges 5000+gst so around 6000. Agent not picking calls. Mostly phone goes busy or unreachable. He said he have taken surrender request since 15 days but not sending any receipt mail or confirmation saying i want to surrender machine.

I finally asked customer care to place surrender request 3 days ago. They said ok but they'll charge 6000 i said i was told 1500+ gst so around 1800. But they kept saying we're telling you it's 6000 . But it's your luck. If 1800 is charged than fine if 6000 than don't complain to us.

I said ok anyways.


To avoid jon usage charges. Swipe your rupay debit card for 1 rs . No mdr for rupay card below 2000rs so no mdr. You'll get 1 rs next day. And won't be charged mon usage charges.

 

[Bhagat Singh]

File a police complaint against the agent who sold you the machine and wrongly registered it and follow up with rbi ombudsman they are also slow. Icici bank is know for defrauding customers and vendors. 80 percent are crooks in ICICI. However you should have asked the agent to supply a copy of registration.

He did everything online. Just asked me 1 OTP nothing else..no documentation or anything. Machine was installed within 24 hours. I asked many times but i was told clearly that no charges for anything if monthly volume is above 2 lakhs. And i can accept any amount immediately. No schedule of charges was shared nor did i sign any documents. Also even their schedule of charges doesn't mention that they can hold our payments for indefinite period of time. Such important terms and conditions should be foretold clearly. RBI is extremely slow. ICICI bank denied all allegations. Nobody is replying. All e-mails go unanswered. Bank denied all allegations like 10 days ago. But RBI is still showing that complaint is in processing with bank.

 

[Oppenheimer]

Do I have to maintain monthly volume also to avoid rental ? I was not told about that too. And what is the volume ?

 

[Bhagat Singh]

Depe

Do I have to maintain monthly volume also to avoid rental ? I was not told about that too. And what is the volume ?

Depends on your plan and your machine. I had Android machine. Touchscreen.
For that it's 2 lakhs per month. If less than 2 lakhs than 700rs+gst is rent. Around 850rs

 

[romilq]

He did everything online. Just asked me 1 OTP nothing else..no documentation or anything. Machine was installed within 24 hours. I asked many times but i was told clearly that no charges for anything if monthly volume is above 2 lakhs. And i can accept any amount immediately. No schedule of charges was shared nor did i sign any documents. Also even their schedule of charges doesn't mention that they can hold our payments for indefinite period of time. Such important terms and conditions should be foretold clearly. RBI is extremely slow. ICICI bank denied all allegations. Nobody is replying. All e-mails go unanswered. Bank denied all allegations like 10 days ago. But RBI is still showing that complaint is in processing with bank.

But bhai if you share OTP, then it means you accept their terms and conditions. Why did you share OTP without asking for terms sheet ? If you don’t agree with their terms then they would not provide POS machine. Just because you shared OTP it means you accepted their terms and machine was issued.

 

[Oppenheimer]

It’s been 2 days I’ve not received any response from them . The take actions over out mistakes they don’t take actions agains the fraud that happened with us

 

[Bhagat Singh]

It’s been 2 days I’ve not received any response from them . The take actions over out mistakes they don’t take actions agains the fraud that happened with us

Bhai aise hi hai inka system. Wait karlo aur 1-2 din. Mera toh reply dena hi band kr diya inhone.

 

[ALOAK]

Bhai aise hi hai inka system. Wait karlo aur 1-2 din. Mera toh reply dena hi band kr diya inhone.

Icici bank is know to defraud customers and vendors. Sales team are the culprit and the management who put undue pressure. This happens in other banks too. But icici tops it. You had a fraudster MD CEO earlier kochhar and board of directors when you have people like this on top it is bound to happen at lower rung. Sales when you deal with them always ask in writing and never ever sign or accept otp without documents lesson learned.even a simple courier person when he delivers he ask otp only then hands over package after verifying ID sometimes they don't as they go by mobile number

 

[mohansekar]

Even if you take payment from someone else they can put it on hold. Do not accept any payment above 10000rs. I have attached below their 1st reply and final decision.

I gave them everything shop photos , customer Aadhar card and contact details. Transaction slips, invoice, and clarification letter. Even asked to refund the amout to cardholders. But they stopped replying. So going with chargeback. Once they pick up their machine i will simply close their current account. Than they can deduct charges from wherever they want😂😂. Out if 4.6 lakhs , 1 lakh has been deducted from hold amount and refunded. Confirmation from bank is pending. 75000 rs is in processing to deduct from hold amount. Rest 285000 amount is under investigation by cardholders bank.

1 lakhs refunded to which bank card ? for my customers they have given tempory credits yet to get refund for me SBI cards , RBL and one card .
following customers weekely once to get back money .

They mailed me once customer raise dispute i told to refund it and then only they got temp credit limit .do no when it will be refunded

 

[Bhagat Singh]

1 lakhs refunded to which bank card ? for my customers they have given tempory credits yet to get refund for me SBI cards , RBL and one card .
following customers weekely once to get back money .

They mailed me once customer raise dispute i told to refund it and then only they got temp credit limit .do no when it will be refunded

Bro it will take time to get refunded. Temporary credit limit is provided within 24 hours of raising dispute so that customer don't have to bear burden of bill.
That temporary credit limit is blocked we can not use it.
Time period of resolution is 90-120 days but mostly banks try to solve within 30 days.

1 lakh which i told was deducted from my hold amount and refunded to cardholders bank. But cardholder bank is yet to make the temporary credit limit permanent. It's been 8 days since cardholders bank got refund.

 

[Bhagat Singh]

To

Bro it will take time to get refunded. Temporary credit limit is provided within 24 hours of raising dispute so that customer don't have to bear burden of bill.
That temporary credit limit is blocked we can not use it.
Time period of resolution is 90-120 days but mostly banks try to solve within 30 days.

1 lakh which i told was deducted from my hold amount and refunded to cardholders bank. But cardholder bank is yet to make the temporary credit limit permanent. It's been 8 days since cardholders bank got refund.

day i will debit freeze my current account so that they don't put unnecessary charges on my account.