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RBL Bank suspended card with no thorough reason

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Dr. Drake

Dr. Drake

TF Ace
@TechnoFino My RBL Zomato card was terminated without explanation. Calling customer service revealed that the card had been permanently stopped due to bank internal policy. After highlighting new rbi rule the executive only said it's due to the risk associated with the card (don't know what that means) & had to write to customer care to get the detailed reason.

Asked me to clear dues & they will reissue the new card. Card limit was 2L usage was around 5% of the card.

www.technofino.in

Steps for getting invite for RBL Zomato Edition CC

Initially I heard from a youtuber that I can request the bank for the card but even he was not sure about the approach. Step 1: I posted a tweet tagging RBL bank and RBL care team that I am interested in their Zomato Edition Card. The bank replied that it is invite based card and wait for the...
www.technofino.in www.technofino.in
 

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Dr. Drake said:
@TechnoFino My RBL Zomato card was terminated without explanation. Calling customer service revealed that the card had been permanently stopped due to bank internal policy. After highlighting new rbi rule the executive only said it's due to the risk associated with the card (don't know what that means) & had to write to customer care to get the detailed reason.

Asked me to clear dues & they will reissue the new card. Card limit was 2L usage was around 5% of the card.

www.technofino.in

Steps for getting invite for RBL Zomato Edition CC

Initially I heard from a youtuber that I can request the bank for the card but even he was not sure about the approach. Step 1: I posted a tweet tagging RBL bank and RBL care team that I am interested in their Zomato Edition Card. The bank replied that it is invite based card and wait for the...
www.technofino.in www.technofino.in
Click to expand...
Strange!!! With just 5% utilization they canceled your credit card. 😮
Ask for exact reason. And update here.
Edit- they'll reissue the card?
 
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Dr. Drake said:
@TechnoFino My RBL Zomato card was terminated without explanation. Calling customer service revealed that the card had been permanently stopped due to bank internal policy. After highlighting new rbi rule the executive only said it's due to the risk associated with the card (don't know what that means) & had to write to customer care to get the detailed reason.

Asked me to clear dues & they will reissue the new card. Card limit was 2L usage was around 5% of the card.

www.technofino.in

Steps for getting invite for RBL Zomato Edition CC

Initially I heard from a youtuber that I can request the bank for the card but even he was not sure about the approach. Step 1: I posted a tweet tagging RBL bank and RBL care team that I am interested in their Zomato Edition Card. The bank replied that it is invite based card and wait for the...
www.technofino.in www.technofino.in
Click to expand...
Have you defaulted other banks payment?
 
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TechnoFino said:
Strange!!! With just 5% utilization they canceled your credit card. 😮
Ask for exact reason. And update here.
Edit- they'll reissue the card?
Click to expand...
Sure I've already emailed the support team, and I'll wait for their response.

Yes, the support guy assured me that they will reissue/resend the card with updated information once I paid the outstanding balance.
 
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Dr. Drake said:
I have 13years of credit history & have 3 late payments from SBI in 2020. My Total utilisation is around 50-60% but that shouldn't be the reason for card cancellation I believe
Click to expand...
According to your payment history. Yes i agree. This isn't the reason. But are you sure that bank said they will reissue?

According to my experience and observation once card is suspended. It cannot be reissued
 
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jurbu3 said:
What are the new guidelines?
Click to expand...
RBI Guidelines for co branded credit card-
15. Co-branding arrangement

Co-branded debit cards issued by banks will be subject to the following terms and conditions, in addition to the above:

15.1 Board approved policy

The co-branding arrangement should be as per the Board approved policy of the bank. The policy may specifically address issues pertaining to the various risks associated with such an arrangement including reputation risk and put in place suitable risk mitigation measures.

15.2 Due diligence

Banks should carry out due diligence in respect of the non-banking entity with which they intend to enter into tie-up for issue of such cards to protect themselves against the reputation risk they are exposed to in such an arrangement. Banks may ensure that in cases where the proposed co-branding partner is a financial entity, it has obtained necessary approvals from its regulator for entering into the co-branding agreement.

15.3 Outsourcing of activities

The card issuing bank would be liable for all acts of the co-branding partner. The bank may ensure adherence to the guidelines on “Managing Risks and Code of Conduct in outsourcing of financial services by banks” as contained in the circular DBOD.No.BP.40/21.04.158/2006-07 dated November 3, 2006, as amended from time to time.

15.4 Role of non-bank entity

The role of the non-bank entity under the tie-up arrangement should be limited to marketing/distribution of the cards or providing access to the cardholder for the goods/services that are offered.

Link- https://m.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=9838
 
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Probably this is because in Zomato App, all credit card transactions done on RBL-Zomato credit cards are shared, unlike in AmazonPay ICICI Card where there is no data share and this won’t be allowed as per RBI rules, as RBI clearly wants the co-branded cards to restrict themselves to distribution and marketing. according to this article below

www.thehindubusinessline.com

Banks remain bullish on credit card business

Hopeful that RBI guidelines may not impact their operations
www.thehindubusinessline.com www.thehindubusinessline.com
 
Last edited:
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Pramtesh said:
According to your payment history. Yes i agree. This isn't the reason. But are you sure that bank said they will reissue?

According to my experience and observation once card is suspended. It cannot be reissued
Click to expand...
The executive stated that, although with little assurance. I would only want that card since they made two inquiries into my credit history. There will be no other justification for obtaining a Zomato card.
 
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They even did the same for me and in my case I wasn't even notified about the card suspension. I got to know about it when my transactions were getting declined. When i asked they started their internal policy thing and they told me to visit their website read their MITC and find the reason myself. And when i told I'll go to Banking Ombudsman they said sir go-ahead.
 
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Dr. Drake said:
The executive stated that, although with little assurance. I would only want that card since they made two inquiries into my credit history. There will be no other justification for obtaining a Zomato card.
Click to expand...
Try and speak to their senior. I have asked few my friends and sister. They haven't received any such notification
 
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yashrajjhawar7 said:
They even did the same for me and in my case I wasn't even notified about the card suspension. I got to know about it when my transactions were getting declined. When i asked they started their internal policy thing and they told me to visit their website read their MITC and find the reason myself. And when i told I'll go to Banking Ombudsman they said sir go-ahead.
Click to expand...
They told you Go-head because trxn was declined? Or to write to BO 😁
 
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