Refunds counted as Payment in 2023?

[mohitbags]

Hi all,

Need an advice from TF community.
I made a transaction of around 60k on agoda through my Amazon ICICI card. After bill generation I was getting a better deal so I cancelled the booking and booked again using same card. The refund got settled the next day of cancellation. I contacted customer care and they told me the refund has been considered as payment and you only need to pay the remaining balance of around 3k. Same was showing in net banking portal of ICICI. 2 days back it triggered autodebit and debited the refunded amount. Today I told them to reverse the transaction as I already paid full amount as told by care executive and net banking portal was also showing 0 amount due.

The care executive is saying that the refunded amount has been adjusted against your spends this month and cannot refund the amount.

I have lodged a complaint with him to check for the earlier call recording and he told me that they will call me back in 5 days.

Can I do anything else in this case or should I let go?

If overall the outstanding balance is negative, you can ask for the Excess Credit refund via contacting ICICI bank customer care

 

[RAMESH BABU N]

NONE OF YOU WILL HAVE ANY DOUBT
IF YOU READ WHAT IS PRINTED IN THE MONTHLY BILL.

AT LEAST ONCE, READ THE STATEMENT IN FULL - ALL PAGES - ALL PARAGRAPHS - ALL LINES.

They give examples also and show how calculations are carried out n applied.

Before asking anyone, read once.

 

[aayusharyan]

NONE OF YOU WILL HAVE ANY DOUBT
IF YOU READ WHAT IS PRINTED IN THE MONTHLY BILL.

AT LEAST ONCE, READ THE STATEMENT IN FULL - ALL PAGES - ALL PARAGRAPHS - ALL LINES.

They give examples also and show how calculations are carried out n applied.

Before asking anyone, read once.

Sir sir, we get it. Please calm down.
MITC are there for a reason, but still some people are there who just ignore it and then come to platforms like this to ask question. But we can also point of this without getting angry sir.


Have some water: /s

 

[RAMESH BABU N]

NOT ANGRY AT ALL. No offence meant at all.

My style is like that. Looks official all along - with a pinch of salt n pepper. If not, difficult to get things done in my previous 3 jobs.

CHAALIS saal ka aadat hai... bahut difficult sae apnaaya hai... woh mujhe chodega nahin.... aur, my bhi....

 

[RAMESH BABU N]

Both my sons (and my two DILs) and my wife make fun of my style/habit of READING every pamphlet, user guide, manual etc.,

They could not digest the fact that immediately after getting our new Xylo E8 home, I read both the manuals - a 200 page detailed one and another short one - like our MITC for CCs. Of course, that saved me at least 3 to 4 lakhs over the last 13 years of ownership. Service centres cheat the owners - if one is an IGNORANT OWNER.

This habit of reading always helped me a lot in my 3 previous jobs. A LOT.

 

[SSV]

NOT ANGRY AT ALL. No offence meant at all.

My style is like that. Looks official all along - with a pinch of salt n pepper. If not, difficult to get things done in my previous 3 jobs.

CHAALIS saal ka aadat hai... bahut difficult sae apnaaya hai... woh mujhe chodega nahin.... aur, my bhi....

Just wanted to know, do you know what it means writing online in BLOCK letters??

 

[RAMESH BABU N]

Yes. Shouting. And, thereby, make people read it without fail. 😛😛😛

 

[SSV]

Yes. Shouting. And, thereby, make people read it without fail. 😛😛😛

You can achieve the same thing , by writing in bold letters, instead of shouting…
Do you think shouting at someone sounds nice?
I knew that you wanted to highlight what you were saying but I was under the impression that you didn’t know that you were shouting

 

[SSV]

You can achieve the same thing , by writing in bold letters, instead of shouting…
Do you think shouting at someone sounds nice?
I know that you want to highlight what you are saying but I was under the impression that you didn’t know that you were shouting

I don’t want to be rude here, just saying what I want to say.. as we are spending quite a lot of time online.. I would like all of us to feel happy and cheerful.. that’s it..
Again I don’t want to be smart ass here..
Have fun…
Okay moving on to the subject matter..

 

[aayusharyan]

Both my sons (and my two DILs) and my wife make fun of my style/habit of READING every pamphlet, user guide, manual etc.,

They could not digest the fact that immediately after getting our new Xylo E8 home, I read both the manuals - a 200 page detailed one and another short one - like our MITC for CCs. Of course, that saved me at least 3 to 4 lakhs over the last 13 years of ownership. Service centres cheat the owners - if one is an IGNORANT OWNER.

This habit of reading always helped me a lot in my 3 previous jobs. A LOT.

Trust me sir, I am on the same page as you. I have read the manuals of Scooty, Mobile phones, even things which people don't read like Calculator, Trimmers, Vaccum Cleaners. I even read the teeny tiny documentation that comes with IKEA Plates.

I am glad to met someone who has the similar trait. 🫡

 

[parasf]

Hi all,

Need an advice from TF community.
I made a transaction of around 60k on agoda through my Amazon ICICI card. After bill generation I was getting a better deal so I cancelled the booking and booked again using same card. The refund got settled the next day of cancellation. I contacted customer care and they told me the refund has been considered as payment and you only need to pay the remaining balance of around 3k. Same was showing in net banking portal of ICICI. 2 days back it triggered autodebit and debited the refunded amount. Today I told them to reverse the transaction as I already paid full amount as told by care executive and net banking portal was also showing 0 amount due.

The care executive is saying that the refunded amount has been adjusted against your spends this month and cannot refund the amount.

I have lodged a complaint with him to check for the earlier call recording and he told me that they will call me back in 5 days.

Can I do anything else in this case or should I let go?

Bhai,
Refund amount never be counted as payment on any credit card
If any customer care executive said that refund will be counted as payment,
Then he/she must be don't know the rule

So if you paid via same card,
Refunded amount will be adjusted in next billing cycle

Don't worry

And if you didn't use your card, then use it to get your amount settled

 

[aceventura]

NONE OF YOU WILL HAVE ANY DOUBT
IF YOU READ WHAT IS PRINTED IN THE MONTHLY BILL.

AT LEAST ONCE, READ THE STATEMENT IN FULL - ALL PAGES - ALL PARAGRAPHS - ALL LINES.

They give examples also and show how calculations are carried out n applied.

Before asking anyone, read once.

RBI rules state that any refunds should be considered as payment. That should override any MITC or T&C that the banks have. As is evident, multiple folks have been able to reverse the charges after complaining to RBI (ofcourse it is a hassle to do so).

What are your thoughts on banks openly flouting the RBI rules with no consequence?

 

[RAMESH BABU N]

RBI rules state that any refunds should be considered as payment. That should override any MITC or T&C that the banks have. As is evident, multiple folks have been able to reverse the charges after complaining to RBI (ofcourse it is a hassle to do so).

What are your thoughts on banks openly flouting the RBI rules with no consequence?

Like I was repeatedly saying that in banking, discretion plays a major role. Unfortunately, most of the non-Bankers will not understand this. Theory n practice differs - even differs a lot at times. Pure techies find it difficult to understand.

RBI can n will give broad guidelines. Individual banks - whether part of IBA or not - have still a lot of leeway (or flexibility), which cannot be taken as flouting. Only career-Bankers understand this n appreciate. RBI is the final authority to decide n take suitable steps.

 

[panchabhut]

In Govt system, there are advisories, guidelines, directives, regulations and laws. Each are different in their scope.