Interest Charged even when outstanding amount was Rs 0

[Achal]

Hi
I am writing this post to know what are the next steps forward for me

On 18th May 2022, my SBI Cards statement was generated of Rs.5965


On 18th May, I received multiple refunds, total amounting to Rs.2221
While checking their app, I saw that the total outstanding amount got reduced to Rs.3744 (= 5965 - 2221)
So I paid Rs.3744 and total outstanding was showing as Rs.0.

I did not take any screenshot but luckily I had checked their balance feature in WhatsApp on 27th May


Total Outstanding: 0
Unbilled Outstanding: 0

On 18th June I received the next statement and saw that they had included some interest charges



I called customer care and asked them about this charges. They said that refunds are not considered as bill payments.

I argued that if this was the case then total outstanding should not have been reduced and Unbilled Outstanding should have been Rs.-2221

I asked them to reverse the charges. They said its not possible as my card is less than 6 months old

Although I have paid the interest charges, I have a few questions.

1. Will this affect my CIBIL score?? (I think it should not as I paid more than the minimum amount due)
2. How can they charge interest when Total Outstanding shown is Rs.0
3. If this is not my fault then I want to fight this out, how should I go about it

Thanks

 

[Tosh]

What if we get refund before bill generation say I make a transaction pay using card then decide to cancel the order and amount is refunded back to card. All this before bill is generated, there's no room for any charges in this case right?
If I pay for the amount of bill generated.

I recently made a high value transaction and had to cancel order so just making sure.

 

[TechnoFinoTechnoFino is verified member.]

SBI Card transaction refund after bill generation will be considered as payment against the 'payment due'? Have they implemented new RBI guidelines?

@TechnoFino @007

it will be considered as payment... according to the new rbi guidelines

 

[BMR]

After my Amex card’s bill generation, I received a refund for a cancelled transaction. I asked customer care if I have to still make the whole due amount generated in statement. They told me to pay only the remaining amount. Does Amex work differently ?

 

[Strange]

it will be considered as payment... according to the new rbi guidelines

Okay thanks for the confirmation.

 

[ltf4ever]

now that new rules are in place, it won't matter, but i still have this question about the old rules:

if i buy laptop for 1 lakh today, statement gets generated tomorrow for 1 lakh due.
i return the laptop after 2 days, and the refund gets credited to my card account from the merchant for 1 lakh, making total outstanding 0.
so in this case, i would still have had to pay 1 lakh to the bank?? that would have made the total outstanding negative( 1 lakh as prepaid amount)

 

[TechnoFinoTechnoFino is verified member.]

After my Amex card’s bill generation, I received a refund for a cancelled transaction. I asked customer care if I have to still make the whole due amount generated in statement. They told me to pay only the remaining amount. Does Amex work differently ?

View attachment 5325

Everyone is same.... refund will be considered as payment.

 

[MdMs]

how to take refund/cashback as a consider by?

 

[TechnoFinoTechnoFino is verified member.]

how to take refund/cashback as a consider by?

bank will adjust automatically, if they don't... You can file a complaint according to RBI's new guidelines .