ICICI Bank Credit Card — Amount charged by ICICI and merchant differs by 15%

Recently I purchased a Ticket from JAZEERA AIRWAYS website. The ticket shows an amount of 14130Rs. Nowhere is the dollar amount mentioned.

I received an SMS from ICICI Bank saying that Rs 15774 has been charged to my account. This is more than 15% more that what my ticket mentions.

On enquiring with the phone banking service they say :

1. I cannot raise the issue till the amount is charged to my bill

2. The rates of exchange of foreign currency by FOREX Dept of ICICI and Credit card department are different.

3. They charge 3.5% service charge.

Please note ICICI is a fraud bank and anyone making foreign currency transactions should be alert. I am going to the consumer court for justice if they do not reverse these charges.

Sanjeev Gupta