Standard Chartered bank mis selled savings account and credit card to me.

[nishchay]

I work in a MNC in Bangalore, about a year ago, there were few Standard Chartered bank representatives in our office premises for their promotion and were opening savings account, they offered that I'll get a premium banking account and their Super Value Titanium credit card LTF if I open an account with them and I cleared it with the bank representative that it is actually LTF not like FYF and then spend based waiver. upon reading about the card, i find it good mainly because of fuel reward so I went with that. Jumping to yesterday, I found they have charged annual fee and upon contacting the customer care the agent told me card is not LTF and it is chargeable if the spending criteria is not met. I immediately raised a complaint for mis selling and the resolution time they have given is 45 days and I'm not having much hopes to receive a positive reply from their side. Can someone suggest what are my options here and what other necessary steps I can take.

Fun Fact (not relevant) - When I was ending the call the agent tried to sell few more products to me 😂😂 to which I replied "after having this incident I'm having thoughts of continuing any relationship with the bank".

 

[350modena]

I work in a MNC in Bangalore, about a year ago, there were few Standard Chartered bank representatives in our office premises for their promotion and were opening savings account, they offered that I'll get a premium banking account and their Super Value Titanium credit card LTF if I open an account with them and I cleared it with the bank representative that it is actually LTF not like FYF and then spend based waiver. upon reading about the card, i find it good mainly because of fuel reward so I went with that. Jumping to yesterday, I found they have charged annual fee and upon contacting the customer care the agent told me card is not LTF and it is chargeable if the spending criteria is not met. I immediately raised a complaint for mis selling and the resolution time they have given is 45 days and I'm not having much hopes to receive a positive reply from their side. Can someone suggest what are my options here and what other necessary steps I can take.

Fun Fact (not relevant) - When I was ending the call the agent tried to sell few more products to me 😂😂 to which I replied "after having this incident I'm having thoughts of continuing any relationship with the bank".

1. Send a detailed email to their customer care stating all the facts of the original promise, date of visit of the officials, names, etc.

2. If CS does not honor what was sold to you, write to their grievance redressal dept marking the PNO. They should reverse charges based on your evidences.

3. If PNO is unable to help rectify, then you can escalate to RBI ombudsman; as a last choice. Focus on getting charges waived and the product promised and not extracting anything further. I think you will be successful.

 

[sjmajumder]

I work in a MNC in Bangalore, about a year ago, there were few Standard Chartered bank representatives in our office premises for their promotion and were opening savings account, they offered that I'll get a premium banking account and their Super Value Titanium credit card LTF if I open an account with them and I cleared it with the bank representative that it is actually LTF not like FYF and then spend based waiver. upon reading about the card, i find it good mainly because of fuel reward so I went with that. Jumping to yesterday, I found they have charged annual fee and upon contacting the customer care the agent told me card is not LTF and it is chargeable if the spending criteria is not met. I immediately raised a complaint for mis selling and the resolution time they have given is 45 days and I'm not having much hopes to receive a positive reply from their side. Can someone suggest what are my options here and what other necessary steps I can take.

Fun Fact (not relevant) - When I was ending the call the agent tried to sell few more products to me 😂😂 to which I replied "after having this incident I'm having thoughts of continuing any relationship with the bank".

Your options are very limited. It seems from your message that you don't have any written confirmation of the card being LTF. Any verbal commitment will not hold ground with RBI. First try with customer care and then with PNO stating the facts. If it doesn't work then your best bet is to tell them you will close both your card and your account and see if they give you any retention offer.