Standard Chartered Bank — Illegal Interest on Credit Card | |||
I have two cards withe Standard Chartered, one Platinum and one Titanium Credit Card withe all dues cleared on time so far for start I would like to lodge an complaint against thee A4 Interest Amount charged on my titanium credit card on current month statement. *** The A4 Interest can only be charged on thee outstanding amount if I have had any outstanding amount due from thee last outstanding amount after last due date. But I will like to let you know that I had paid thee whole outstanding amount for my card in last 2 months before due dates. The amount 6088.00 has been paid on 23 MAY 2013 and was due on 27 MAY 2012 and thee amount 3155.07 has been paid on 24 APR 2013 and was due on 26 APR 2012 On thee both cases I mentioned above from last two months, thee outstanding amount was paid in full within due dates but though there was an A4 Interest has been charged on Titanium card for this month. Also I can see that there was an TRFD made by bank without my concern from my Titanium credit card to Platinum credit card on 24the MAY 2013 which is 3 days before thee actual due date 27the of MAY 2013 of outstanding amount 4,950.61 on Platinum credit card. AND now bank is charging me Interest and service tax for this TRFD. But I want to clearly mention thee TRFD was made before due date and there was no instruction from me to make a TRFD. Therefore bank can't charge me any Interest on my Titanium Credit Card for making a TRFD to Platinum card by BANK self. I would also like to mention I have paid all outstanding for both card before due days all thee time and never provided any instruction for fund transfer to one card to another Was this information helpful? | |||
 18 Comments | |||
Comments
I was charged with A4interest without any notification or initiated by me. Crazy!
Reply
I also got similar charge. I was late by 2 days to pay the due amount (total due 4604). Standard Chartered bank levied me 500 rs late payment charge (A3LATE charges) and 61 Rs as service tax. And there was a A4 interest of 210 Rs and service tax of 26 Rs. 210 Rs is around 50% interest (more than 4% per month) for the amount (4604+500+61). It's too much to pay for 2 days dealy.
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I also got similar charge even i paid my out standing amount before due date.I was never even paid my due amount late.I have received
26/02/2015 A4SERVICE TAX & CESS @ 12.36% INR 19.88 DR INR 19.88
26/02/2015 A4INTEREST INR 160.87 DR INR 160.87
where my statement generated on 28 of month. I am not able to understand this.
26/02/2015 A4SERVICE TAX & CESS @ 12.36% INR 19.88 DR INR 19.88
26/02/2015 A4INTEREST INR 160.87 DR INR 160.87
where my statement generated on 28 of month. I am not able to understand this.
Dear Friends,
I am also face the same issue, i have paid the total out standing two days before but this month i have received A4 intrest around Rs 3165 + tax, i don't why they have charges me, even its my interest amount they billed us.. Twice i raise the complain to the SCB, am waiting for there reply.
Warm Regard;s
prakash.d
I am also face the same issue, i have paid the total out standing two days before but this month i have received A4 intrest around Rs 3165 + tax, i don't why they have charges me, even its my interest amount they billed us.. Twice i raise the complain to the SCB, am waiting for there reply.
Warm Regard;s
prakash.d
what is TRFD?... its being reflected in my credit card statement as well... SCB have charged TRFD in my main card and added to my EMI loan account... .what it is? can anyone help me to understand that please..
Of course am also had this issue.
Out of my experience, TRFD is the adjustment transferred FROM payment made for primary credit card TO unpaid credit card account or viseversa. Example
I made payment of my primary card Rs.15000 and I have not paid for my secondary credit card(Minimum amout due 100. Then bank will adjust the minimum amount payable for secondary card out of payments made for primary card. Then
Primary card will be Debited with Rs. 1000
Secondary card will be credit with Rs. 1000
So, we need to ensure that payment for secondary card should be made ASAP before billing date comes for Primary card.
I made payment of my primary card Rs.15000 and I have not paid for my secondary credit card(Minimum amout due 100. Then bank will adjust the minimum amount payable for secondary card out of payments made for primary card. Then
Primary card will be Debited with Rs. 1000
Secondary card will be credit with Rs. 1000
So, we need to ensure that payment for secondary card should be made ASAP before billing date comes for Primary card.
Please read the due 100 as Rs 1000
I also was charged without any notice on this A4interest. Crazy!
I have also seen the same even though some payment was made on both cards but from primary to secondary card payment without my consent has been done and A4 Interest has been levied
I also, charged without any notice on this A4interest. rs :166.81/- I thought compared to others SCB takes more charges...
worst service ever no late pay nothing still A4INTEREST was charged worth 487, , , ,
I paid overall outstanding balance (21, 094.82 )on before due date, why you put interest(293.69) and gst(52.86) on what amount you put interest ??????????????? you people are mad or we are mad to pay ??????????? don't do like this, if we missed the payment on due date then put as per rbi guide lines 4% on outstanding, i called to customer care they told reverse that interest & gst that's fine but don't do like this next time.
I too am charged. Fraud Standard Chartered
I also faced that issue from SC Bank and 1800 amount show in my credit card remain bill. Fraud By Standard Charted.
im also charged A4interest im paying my outstanding amount on the same date but the bank charged me 980rs plus A4interest total intrest is 3200
what is this
what is this
Also for me
I'm also getting charged for same and they are providing ambiguous explanation . Despite paying dues within due date I'm getting charged for interest due on the payment I have made. This is fraud.
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