SBI Cards Charges 30rs for 1 PAISE outstanding. Be alert while paying bill.

[prem2311]

Hi All


My November bill for the BPCL card is 21,422.99. But it was rounded off to 21,423.


I paid through PAYTM bill payment. It automatically fetches the bill as 21,422.99. I didn't verify with my statement and I paid with trust of PAYTM

In the bill it was 21423rs.

For that 1 PAISA, They have charged around 30 rs in my next statement.



I mailed them the same. They have sent me Terms and conditions copy to me.

SBI cards + PAYTM are building the NEXT GEN AI to take India to 1930 PAISA world. Be Ready

 

[VicksJ]

For any bank credit card, you should pay eaxct amount as generated bill (including changes). I've seen in HDFC if your bill is 100.75 and you select pay full amount, hdfc auto-populates for 100 only. I select as other amount and manually enter 100.75 to avoid any late payment fees and cibil hit.

No bank does this type of shit like SBI card

 

[prem2311]

for transactions where instant discount is availed rps will be forfeited and points equalling to the instant discount will be debited
in case of points unavailability amount limiting to the same will be charged

can you explain with example?

 

[scn]

SBI simplyclick forfeited instant discount rewards point, then charge me at the rate of 0.25 paisa while I redeem vouchers already 1 month ago at the rate of 0.20 (Amazon voucher). Now, how can I deal with this SBI thing?

 

[paresh22]

SBI simplyclick forfeited instant discount rewards point, then charge me at the rate of 0.25 paisa while I redeem vouchers already 1 month ago at the rate of 0.20 (Amazon voucher). Now, how can I deal with this SBI thing?

You can raise complaint to nodal officer but sbi already have deduction mentioned in their tnc for availing instant discount and reward points on same transaction. If points available then forfeit them else charge to your account equivalent amount.
I too badly faced it for my sbi prime card during amazon sale.

 

[varun037]

I have been charged finance charges. I have emailed them and got a generic reply. Even on call, they told me to pay the full outstanding without considering a refund.

I made a full payment on my credit card balance on Feb 1, including refunds credited on January 20, 2024, before the due date of February 8, 2024. I made a higher payment than the total outstanding balance on my credit card. My new bill is negative, even after the finance charges of about Rs 3000.

SBI is bad w.r.t customer care. They have shady practices. I emailed them the RBI Circular now.

As per the RBI guidelines

Any credit amount arising out of refund/failed/reversed transactions or similar transactions before the due date of payment for which payment has not been made by the cardholder, shall be immediately adjusted against the ‘payment due’ and notified to the cardholder.
Page 12 point (e)

I hope they reverse the charges or I am going to write to banking ombudsman.

 

[card-shard]

I have been charged finance charges. I have emailed them and got a generic reply. Even on call, they told me to pay the full outstanding without considering a refund.

I made a full payment on my credit card balance on Feb 1, including refunds credited on January 20, 2024, before the due date of February 8, 2024. I made a higher payment than the total outstanding balance on my credit card. My new bill is negative, even after the finance charges of about Rs 3000.

SBI is bad w.r.t customer care. They have shady practices. I emailed them the RBI Circular now.

As per the RBI guidelines

Any credit amount arising out of refund/failed/reversed transactions or similar transactions before the due date of payment for which payment has not been made by the cardholder, shall be immediately adjusted against the ‘payment due’ and notified to the cardholder.
Page 12 point (e)

I hope they reverse the charges or I am going to write to banking ombudsman.

what was the "Total Due" amount mentioned in your statement?, and how much you paid?
can you please share screenshot of statement email or SMS msg?

A rule of thumb is that you've to pay the "Total Due" mentioned in the statement. (as "adjusting refunds against pending due" is subject to lots of different interpretation)
And if after paying "Total Due", the amount goes to negative. It either gets adjusted in next statement against your purchases or you can ask bank to refund that amount into any of your bank accounts.

A quick look at SBI card MITC explains their policy about refunds, read point "J".

 

[messypenguin]

A rule of thumb is that you've to pay the "Total Due" mentioned in the statement. (as "adjusting refunds against pending due" is subject to lots of different interpretation)

10(e) Any credit amount arising out of refund/failed/reversed transactions or similar transactions before the due date of payment for which payment has not been made by the cardholder, shall be immediately adjusted against the ‘payment due’ and notified to the cardholder.

It doesn't seem like there is room for different interpretations.

I'm in slightly similar situation, I've paid the entire due without taking refunds into consideration, despite that I was hit with a 5.7k finance charges. Their claim is that 2200/- which was paid on due date got settled on due date + 1 day, which I'm not very sure of, because it was reflected in the statement T day itself. How do they justify this? 2200 * 42% (for ease of calc) = 924 + GST

SBI card has total disregard for RBI directives on multiple counts. Also SBI Card T&Cs shouldn't supersede RBI directives.

 

[messypenguin]

I have been charged finance charges. I have emailed them and got a generic reply. Even on call, they told me to pay the full outstanding without considering a refund.

I made a full payment on my credit card balance on Feb 1, including refunds credited on January 20, 2024, before the due date of February 8, 2024. I made a higher payment than the total outstanding balance on my credit card. My new bill is negative, even after the finance charges of about Rs 3000.

SBI is bad w.r.t customer care. They have shady practices. I emailed them the RBI Circular now.

As per the RBI guidelines

Any credit amount arising out of refund/failed/reversed transactions or similar transactions before the due date of payment for which payment has not been made by the cardholder, shall be immediately adjusted against the ‘payment due’ and notified to the cardholder.
Page 12 point (e)

I hope they reverse the charges or I am going to write to banking ombudsman.

Kindly keep us posted how it goes, I'm in a similar situation. Also did you had to escalate it to nodal officer?

 

[messypenguin]

So an update, they've agreed to refund the finance charges but the GST on finance charges seem to still remain. Any pointers on how to get this reversed too?

Cheers.

 

[scn]

so on the basis on all this, I have a question regarding cashback card, First statement generation is still payment so have all question in my mind

In cashback card

Do i need to pay by less amount cashback, do cashback considered as payment ?

Eg. I use 10000 Rs and get 500 as cashback
So do I need to pay 10000 or 9500 (minus 500 cashback), how this will work.

Also, sbi now stopping me to pay if outstanding becomes 0, Looks some changes recently. In that case, how can we pay full payment

 

[RajMahadik]

Cibil me late payment mark karega ye lo@@du... rbi should give 10 rs grace amount ..

Or punish the bank who charged n mark as late payment for 50 paisa...

 

[messypenguin]

Cibil me late payment mark karega ye lo@@du... rbi should give 10 rs grace amount ..

Or punish the bank who charged n mark as late payment for 50 paisa...

Don't think they'll mark as delayed payment if MAD is fully paid. (incl paisa)

 

[hedgehog2122]

I have closed 2 SBI cards recently and even transferred 10 rupee extra in each card over and above the outstanding balance because of this Bulls**t only.

 

[card-shard]

I have closed 2 SBI cards recently and even transferred 10 rupee extra in each card over and above the outstanding balance because of this Bulls**t only.

Can't say abt card closure, but for everyone else there is a simple approach:
Check the "total due" amount in statement (via email/sms/app) and pay that.
Simple, no non-sense approach.

 

[4uziaul]

so on the basis on all this, I have a question regarding cashback card, First statement generation is still payment so have all question in my mind

In cashback card

Do i need to pay by less amount cashback, do cashback considered as payment ?

Eg. I use 10000 Rs and get 500 as cashback
So do I need to pay 10000 or 9500 (minus 500 cashback), how this will work.

Also, sbi now stopping me to pay if outstanding becomes 0, Looks some changes recently. In that case, how can we pay full payment

Cashback is considered as payment.

Wait for the transaction to settle, and once it does, you'll be able to proceed with the payment.

 

[magicman6326]

They reversed for first statement and not second which is residual charges. Raised it with RBI now. It's not about money for me but unfair trade practice now.

Bro can you also help me same thing happened with me also I also got refund and still they are charging the amount from 3 months they reversed the first statement transaction but are not for others can you plzz tell me privately what was your situation how to complain to rbi nd all how much time it take to u

 

[VicksJ]

Bro can you also help me same thing happened with me also I also got refund and still they are charging the amount from 3 months they reversed the first statement transaction but are not for others can you plzz tell me privately what was your situation how to complain to rbi nd all how much time it take to u

Raise complaint via RBI banking ombudsman