Got charged interest and gst

[non-employee_agent]

I paid my full bill on due date but the statement credit shows one day later as the payment date.

But I'm aware that we have 3 days before late payment or interest charges can be levied. I've emailed ICICI and contacted them on FB. Just confirming if what ICICI did is legal or not? I plan to fight this even though the amount is small. (I also have a WM account with them).

 

[dexter_greycells]

i hate auto debit.. its a nightmare when it doesn't go through and you will never know..

If auto-debit is happening then it means something went wrong (physically, emotionally) with you since you could not clear the dues well before the due date! Auto-debit is a Plan B - a failsafe. It is not meant to be your Plan A! Plan A is you and your half a dozen CC payment apps/mechanisms.

 

[Pankhuri]

Counterpoints

if the CC bill is Rs 1L and you have paid only Rs 90k, auto-debit will only debit Rs 10k.

You pay on 90k 4 days before the due date, transaction is shown settled, you have the sms from credit card confirming the payment and auto-debit goes ahead and tries to deduct 1L again. If it succedds, no biggie, now you have to deal with customer care and get your excess money back. if it doesn't you are charged Payment dishonor fee, GST on that and now still have to manually pay the remaining 10K.

The bank will add random charges to your CC and since you have auto-debit enabled you will end up paying for them - Auto-debit happens on the due-date. You will have nearly 3 weeks to review your CC statement for any random charges to dispute them.

In the event of a glitch, you are charged payment dishonor fee by the credit card and nach non maintenance charges by the savings side of the bank.

 

[Pankhuri]

HDFC, SBI, ICICI, Citi, Kotak and even Saraswat (co-op) do not do double payments from my own experience.

Had a very horrendous experience with SBI auto debit. Double payments and extra charges in some cases where the statement due was higher than amount in the account on due date. Worst of all with SBI? They reverse charges 1 time every statement year. So even if there is a mistake on their side and they agree to it, they would still insist that they can't reverse the charges. You will need to escalate to RBI to get them to do the right thing.

 

[Zacobite]

If auto-debit is happening then it means something went wrong (physically, emotionally) with you since you could not clear the dues well before the due date! Auto-debit is a Plan B - a failsafe. It is not meant to be your Plan A! Plan A is you and your half a dozen CC payment apps/mechanisms.

Auto Debit sucks... if anything gies wrong.. you will go from pillar to post.. i have had a horrible experience with an insurance premium monthly debit.. never again... never again

 

[non-employee_agent]

Escalate to NO or PNO. If both of them fail to give GST back then escalate to RBI. It isn't about 100rs, it is about being against blatant theft.

For example, they are keeping this GST, why? When the payment on which the GST was applied is null and void, why do they get to keep the GST on it?

I'm not aware of NO/PNO. Would like some more opinions on if I should escalate this or just pay them?

 

[sidp]

Had a very horrendous experience with SBI auto debit. Double payments and extra charges in some cases where the statement due was higher than amount in the account on due date. Worst of all with SBI? They reverse charges 1 time every statement year. So even if there is a mistake on their side and they agree to it, they would still insist that they can't reverse the charges. You will need to escalate to RBI to get them to do the right thing.

Axis deducted auto-debit for cc at least twice even though I had fully paid few days earlier through Axis app pay now. Last time it was around 6-7k.
I told them to send it back to Axis savings account. They said not possible. Asked for cancelled check, which I had to submit at branch. Not a big amount to fight, not so small to forget especially when the card isn't used regularly.

Once same happened with electricity bill pay. I had paid 10days before due date, still Axis deducted from auto debit. After that I stopped all auto pay.

 

[sidp]

I'm not aware of NO/PNO. Would like some more opinions on if I should escalate this or just pay them?

My advice would be to forget about it. You'll end up spending way too much time for a measly 100rs.
Even if we look at it in principle, then you also need to share some blame.
Do note that bank(& mostly branch) retaliates. If they are doing any preferential treatment they would stop. Delay service request.
So just take a written assurance that it won't show up as late payment in credit bureau & move on.

 

[sidp]

I am sure. It is in the T&C of every card issuer. That's the #1 source of their earnings -

It was in Oct 2022 circular. Again in 7.3.24 directive clearly says otherwise. No interest on late payment of jf/af and interest only on outstanding amount not total due amount.