ICICI Charging Reward Fee on Expired reward points? Edit:Mystery Solved. Its Payback

[iNokia]

Today I received a GST invoice from ICICI and it has the following transactions listed for 25 rupees. I have never redeemed any reward point because their site never worked and nor did I accumulate enough to spend. So they are charging fees for points expiry I think. Unless its something else entirely?

 

[thanix]

Today I received a GST invoice from ICICI and it has the following transactions listed for 25 rupees. I have never redeemed any reward point because their site never worked and nor did I accumulate enough to spend. So they are charging fees for points expiry I think. Unless its something else entirely?

View attachment 14029

And why it is charged twice?

 

[thanix]

I also got GST invoice - two line items. One is 25 rupees which is correct as I redeemed the credit card points last year and was charged.

Other one is 99 which I am not sure for what. May be debit card points redemption but didn't redeemed it at all. I will check the account statement now.

 

[iNokia]

I also got GST invoice - two line items. One is 25 rupees which is correct as I redeemed the credit card points last year and was charged.

Other one is 99 which I am not sure for what. May be debit card points redemption but didn't redeemed it at all. I will check the account statement now.

last year as in how long back?

 

[thanix]

Just checked my March statement and yes these two transactions are there under withdrawal as rwd fee. This means they are auto debiting money for those reward points that I don't even know.

@TechnoFino FYI, seems a new way from ICICI Bank to loot account holders

 

[thanix]

last year as in how long back?

Last April 2022 and was charged in June Statement which I paid.

This seems to be for account and debit card. Please check your March statement

 

[iNokia]

Mystery Solved. I redeemed payback points in december. However despite icici ending payback partnership and introducing its own reward system long back, they still charge for redemption. Fucking leeches.

 

[thanix]

Mystery Solved. I redeemed payback points in december. However despite icici ending payback partnership and introducing its own reward system long back, they still charge for redemption. Fucking leeches.

Have you redeemed twice?

 

[iNokia]

Have you redeemed twice?

yes i did twice. now after this fees, I incurred a net loss on the whole transaction.

 

[TechnoFinoTechnoFino is verified member.]

Just checked my March statement and yes these two transactions are there under withdrawal as rwd fee. This means they are auto debiting money for those reward points that I don't even know.

@TechnoFino FYI, seems a new way from ICICI Bank to loot account holders

Can you post screenshoot of your reward statement and the charges

 

[iNokia]

But the important thing is I redeemed payback points in Dec 2022 through twidpay (a non icici entity). And icici still charged me despite ending their payback partnership in april 2022.

 

[TechnoFinoTechnoFino is verified member.]

But the important thing is I redeemed payback points in Dec 2022 through twidpay (a non icici entity). And icici still charged me despite ending their payback partnership in april 2022.

Back dated fees bro... unfortunately bank can charge according to their mitc

 

[thanix]

Can you post screenshoot of your reward statement and the charges

I will verify now whether any payback points are redeemed for debit card. I have also asked the same to bank. I will post the screenshot today.

 

[thanix]

But the important thing is I redeemed payback points in Dec 2022 through twidpay (a non icici entity). And icici still charged me despite ending their payback partnership in april 2022.

If it is redeemed through any means, there is a charge as per terms. So the charges are correct. When I redeemed my credit card points, I got the same redemption fee. Now have to check the debit card. I have to now find that payback number.

 

[Wealth is my birth right!]

But the important thing is I redeemed payback points in Dec 2022 through twidpay (a non icici entity). And icici still charged me despite ending their payback partnership in april 2022.

They will
I used payback points from ICICI in hppay app but for that also ICICI charged redemption fee
Now happy that no more ICICI payback combo

 

[thanix]

Back dated fees bro... unfortunately bank can charge according to their mitc

I traced through the old emails and yes, the debit card payback points were indeed redeemed twice 400 and 500 in last June. One is BB voucher for 100 and other one is not sure. So essentially for couple of hundred rupees lost a tad higher than hundred. I couldn't check payback because ICICI created two payback number for credit card and debit card.

So it is my mistake and ICICI Bank is correct. Sorry for the wrong accusation.

I will let the new reward points lapse as they too carry redemption fee. Lesson learnt.

 

[alkaalka]

I received a similar email but I do not recall redeeming points. I wrote back to ICICI but the mail would not go through. Any clue how I can reach out to bank? It is mentioned in the invoice "raise discrepancy immediately"
Thank you for any help!

 

[iNokia]

I received a similar email but I do not recall redeeming points. I wrote back to ICICI but the mail would not go through. Any clue how I can reach out to bank? It is mentioned in the invoice "raise discrepancy immediately"
Thank you for any help!

Best would be either call or Twitter