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SBI International Transaction Refund Issue

  • Thread starter Thread starter Harry1
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Harry1

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Can someone please explain what is happening with my transaction?

I did a transaction in foreign currency few days back. I raised request for cancellation from merchant immediately and merchant refunded the amount in foreign currency within an hour.

I was able to see deduction and refund in INR in unsettled transactions. Refund amount was slightly lesser than debit amount. I assume visa ate up some conversion on both credit and debit.

Next day, both transactions move to settled (usually it settle after 2 days, but this time it took only one day, no idea why). There is additional 3.5% forex charges and gst on debit. No deductions on credit. But there is no reversal of charges either. I read somewhere that sbi reverses forex conversion fee and gst on refund.

Also, this refund was issued within 1 hour of transaction and much before transaction settlement. So, shouldn't it be considered a void transaction without any credit and debit?

Now the last part, there was still one debit transaction in unsettled transaction (remember i did only one debit transaction and i got and entered OTP only once). But there is one debit in settled and one in unsettled. This transaction is still showing up in unsettled even after 5 days

I have no clue what is happening here. Anyone with similar experience?
 
Can someone please explain what is happening with my transaction?

I did a transaction in foreign currency few days back. I raised request for cancellation from merchant immediately and merchant refunded the amount in foreign currency within an hour.

I was able to see deduction and refund in INR in unsettled transactions. Refund amount was slightly lesser than debit amount. I assume visa ate up some conversion on both credit and debit.

Next day, both transactions move to settled (usually it settle after 2 days, but this time it took only one day, no idea why). There is additional 3.5% forex charges and gst on debit. No deductions on credit. But there is no reversal of charges either. I read somewhere that sbi reverses forex conversion fee and gst on refund.

Also, this refund was issued within 1 hour of transaction and much before transaction settlement. So, shouldn't it be considered a void transaction without any credit and debit?

Now the last part, there was still one debit transaction in unsettled transaction (remember i did only one debit transaction and i got and entered OTP only once). But there is one debit in settled and one in unsettled. This transaction is still showing up in unsettled even after 5 days

I have no clue what is happening here. Anyone with similar experience?
Better call bank & ask them to be how it worked, as they will also have all details of txn, they can help u better.
Or
Wait till someone knowledgable than me replies!
 
Last edited:
Better call bank & ask them to be how it worked, as they will also have all details of txn, they can help u better.
Or
Wait till someone knowledgable than me replies!
Called customer care and they raised a chargeback. Now will take 4 months to solve it😅.

They were saying weird things like credit transaction is in process, whereas credit was done, but second debit was in process.

I noticed one more thing. There is one credit in settled transaction and one debit in unsettled transaction. But both these transactions are not used to calculate total outstanding. Credit/debit Amounts in INR are different, so i can check it. The debit transaction (and forex , gst charges) are included though.

Also, even though credit transaction is not adjusted against outstanding, it is used to adjust against cashback amount 😅.
 
Called customer care and they raised a chargeback. Now will take 4 months to solve it😅.

They were saying weird things like credit transaction is in process, whereas credit was done, but second debit was in process.

I noticed one more thing. There is one credit in settled transaction and one debit in unsettled transaction. But both these transactions are not used to calculate total outstanding. Credit/debit Amounts in INR are different, so i can check it. The debit transaction (and forex , gst charges) are included though.

Also, even though credit transaction is not adjusted against outstanding, it is used to adjust against cashback amount 😅.
did you end up getting it resolved? had the same issue with paypal last month and fuckers refused to refund the forex+gst they charged even though I received a refund through paypal
 
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