Unnecessary charges levied by SC bank

[sridharkett]

Dear Friends,

I have two standard chartered bank credit card, Smart earn and Manhattan credit card, due date for both the cards are different, I made a payment towards smartearn credit but they transferred some some amount towards manhattan credit and after few days I made payment to manhattan completely, but today when I was checking they have levied a interest fee of rupees 2600, earlier also I faced this kind of issue and they looted me around 600 rupees. I never expected such kind of service from a international bank. Last time also mailed regarding this issue to the nodal officer but no reply from them till now. What can be done friends. Any one faced this kind of issue?

 

[hellobois]

file a case with RBI

 

[Wealth is my birth right!]

Dear Friends,

I have two standard chartered bank credit card, Smart earn and Manhattan credit card, due date for both the cards are different, I made a payment towards smartearn credit but they transferred some some amount towards manhattan credit and after few days I made payment to manhattan completely, but today when I was checking they have levied a interest fee of rupees 2600, earlier also I faced this kind of issue and they looted me around 600 rupees. I never expected such kind of service from an international bank. Last time also mailed regarding this issue to the nodal officer but no reply from them till now. What can be done friends. Any one faced this kind of issue?

Explain with them they will reverse incl gst if mistakenly done by them
If not escalate to ombudsman

 

[sridharkett]

Explain with them they will reverse incl gst if mistakenly done by them
If not escalate to ombudsman

Sure Bro...

 

[Thomas244]

Ask them to stop auto transfer between cc

 

[sridharkett]

Ask them to stop auto transfer between cc

Need to check MITC Form...

 

[bismaj]

SC EMI facility also works in a different way, usually for emi we see the payable amount in credit card statement only but for SC they create a seperate loan amount with different statement. For me I hadn't received the emi statement seperately and thought it to be available on the next statement and i didn't paid the amount and hence late charge fees with penalties etc were levied.. when i complained this to their customer service they didn't helped for that....but when i mailed their nodal office regarding this within 4 days they reversed me these amounts and everything back to fine...hence i would request you to mail at customer.care@sc.com and they will help for sure.
thanks.

 

[VijayflyRaven]

I remember a condition which says that they can transfer funds between your credit cards on certain scenarios. I am hoping your case will not fall in those buckets.

 

[amitt319]

I remember a condition which says that they can transfer funds between your credit cards on certain scenarios. I am hoping your case will not fall in those buckets.

Yes, StanChart have this special feature turned on by default called "Autoapportionment of Payment". Go to help section and TURN that OFF. Though it's useful specially when all your loan accounts / cards have same billing datE.

 

[amitt319]

Dear Friends,

I have two standard chartered bank credit card, Smart earn and Manhattan credit card, due date for both the cards are different, I made a payment towards smartearn credit but they transferred some some amount towards manhattan credit and after few days I made payment to manhattan completely, but today when I was checking they have levied a interest fee of rupees 2600, earlier also I faced this kind of issue and they looted me around 600 rupees. I never expected such kind of service from a international bank. Last time also mailed regarding this issue to the nodal officer but no reply from them till now. What can be done friends. Any one faced this kind of issue?

Yes, StanChart have this special feature turned on by default called "Autoapportionment of Payment". Go to help section and TURN that OFF. Though it's useful specially when all your loan accounts / cards have same billing datE.

 

[Indian]

MONEY MINDED ! I'm bleeding with my instabuy account , Here I want to warn or advice to my fellow members, Please think twice before take Loan on card with SCB. (Over the credit limit)

1, They issued a new card account in the name of instabuy executive but they debit all interest , emi , PF on your existing card available limit.

2, There is no specific date for emi debit ( example: all banks are debit emi on statement generation ) so when use your card they debit emi try to make it overlimit and charge over limit fees

3, First they inform you to make one single payment for both cards and they transfer appropriate funds to instabuy , after 3 months they send email to make payment separately for both cards and if you make single payment you may mark as defaulter.

4, Forgot your cibil score! They report high credit as your current outstanding (You took loan of 200000 and utilized card for 75000)
Example : Credit limit = 100000
High credit= 275000
Current balance= 275000

Example month 2 : If you utilized ZERO in card and repaid 25000rs in loan
Credit limit = 100000
High Credit = 175000
Current balance= 175000
So here we can see they changing HIGH credit every month based on Current Outstanding it is unprofessional and not industry practice , OUR experts know high credit cannot change unless we over spend the existing high credit.

 

[Wealth is my birth right!]

MONEY MINDED ! I'm bleeding with my instabuy account , Here I want to warn or advice to my fellow members, Please think twice before take Loan on card with SCB. (Over the credit limit)

1, They issued a new card account in the name of instabuy executive but they debit all interest , emi , PF on your existing card available limit.

2, There is no specific date for emi debit ( example: all banks are debit emi on statement generation ) so when use your card they debit emi try to make it overlimit and charge over limit fees

3, First they inform you to make one single payment for both cards and they transfer appropriate funds to instabuy , after 3 months they send email to make payment separately for both cards and if you make single payment you may mark as defaulter.

4, Forgot your cibil score! They report high credit as your current outstanding (You took loan of 200000 and utilized card for 75000)
Example : Credit limit = 100000
High credit= 275000
Current balance= 275000

Example month 2 : If you utilized ZERO in card and repaid 25000rs in loan
Credit limit = 100000
High Credit = 175000
Current balance= 175000
So here we can see they changing HIGH credit every month based on Current Outstanding it is unprofessional and not industry practice , OUR experts know high credit cannot change unless we over spend the existing high credit.

Thanks for the eye opener post
Always my app showing offer loan on cc it’s almost 2 times than credit limit
I didn’t imagined this trap

 

[apindersingh]

Dear Friends,

I have two standard chartered bank credit card, Smart earn and Manhattan credit card, due date for both the cards are different, I made a payment towards smartearn credit but they transferred some some amount towards manhattan credit and after few days I made payment to manhattan completely, but today when I was checking they have levied a interest fee of rupees 2600, earlier also I faced this kind of issue and they looted me around 600 rupees. I never expected such kind of service from a international bank. Last time also mailed regarding this issue to the nodal officer but no reply from them till now. What can be done friends. Any one faced this kind of issue?

Any luck friend?

 

[helloworld]

Dear Friends,

I have two standard chartered bank credit card, Smart earn and Manhattan credit card, due date for both the cards are different, I made a payment towards smartearn credit but they transferred some some amount towards manhattan credit and after few days I made payment to manhattan completely, but today when I was checking they have levied a interest fee of rupees 2600, earlier also I faced this kind of issue and they looted me around 600 rupees. I never expected such kind of service from a international bank. Last time also mailed regarding this issue to the nodal officer but no reply from them till now. What can be done friends. Any one faced this kind of issue?

Yes. Not sure why interest charged for you (maybe not paid amount to another card), so here it goes.

- In SC all cards are under 1 account.
- When payment not received and approaching due date in one or two days, then if they see excess balance in another card, they transfer that amount to this card.
- Request to disable auto-transfer by calling customer care.
- And, if you have proof that you paid before due date (for that Manhattan bill) and they charged interest 2600/- (by transferring some amount from smart), you can file complaint and get refund. That is eligible for refund and compensation (because SC slow and you can't resolve this in one month, so try).

Regarding SC (just incase missed):

Does standard chartered smart credit card give 2% cashback on rental payments and consider it for spends limit?

Does standard chartered smart credit card give 2% cashback on rental payments and consider rental payments for spends limit? I heard lot of people unable to redeem it or didn't get cashback. Is there any redemption fee? Minimum points /multiple to redeem? Rewards points expiry? Does the...

www.technofino.in

Could you share the following:

- what is the due date of Manhattan?
- when is your payment credit to this card account (date shown in transaction history not when you paid)?
- Any excess amount in Smart by that time?
- to which card they charged late fee?

 

[Sahilhenzy]

MONEY MINDED ! I'm bleeding with my instabuy account , Here I want to warn or advice to my fellow members, Please think twice before take Loan on card with SCB. (Over the credit limit)

1, They issued a new card account in the name of instabuy executive but they debit all interest , emi , PF on your existing card available limit.

2, There is no specific date for emi debit ( example: all banks are debit emi on statement generation ) so when use your card they debit emi try to make it overlimit and charge over limit fees

3, First they inform you to make one single payment for both cards and they transfer appropriate funds to instabuy , after 3 months they send email to make payment separately for both cards and if you make single payment you may mark as defaulter.

4, Forgot your cibil score! They report high credit as your current outstanding (You took loan of 200000 and utilized card for 75000)
Example : Credit limit = 100000
High credit= 275000
Current balance= 275000

Example month 2 : If you utilized ZERO in card and repaid 25000rs in loan
Credit limit = 100000
High Credit = 175000
Current balance= 175000
So here we can see they changing HIGH credit every month based on Current Outstanding it is unprofessional and not industry practice , OUR experts know high credit cannot change unless we over spend the existing high credit.

You are right my friend. I don't know about payment for insta buy account because before I used to pay directly into my card and then it will get transferred to insta buy automatically. But randomly I call their cc for some credit limit issue they said now you have to pay for insta buy account separately. It's means now I have to pay emis directly to the insta buy account via their website not the cc bills payment anymore.

They are very chalak first they showed me estimated was something 4000 when bill was generated for the same amount but after few days they added 18%GST more which crossed the estimated EMI amount. No Key Fact statment,no EMI Scheduled nothing just a Insta buy account.

I took this loan for 5 years and now I have been trapped so guys be careful and be alert. They will charge you a foreclosure amount also if you want to close the loan early. Which is something 4%

They reported the whole loan account into minus which significantly destroyed my credit report. which includes CRIF, Experian, Equifax.