[Resolved]  Standard Chartered — Grievance against STANDARD CHARTERED

I am an old customer of Standard Chartered credit card and would like to express my concerns and problems I have faced recently due to inappropriate handling of my credit card related charges which has affected my home loan processing due to unexpected entry in civil records. I would need your time and patience to read my email in its entirely and understand the problem.

2 years back I made a payment of approx INR 500.00 through check payment two days before the payment due date. Standard Chartered Bank delayed in processing the check and thus the check was realized after the payment due date. As a consequence of this, next month they charged a whopping amount of INR 400.00 as the late payment fees. I do not understand what prompted them to charge late payment when there was no delay from my side. Secondly, with INR 400 being charged as late payment fees for INR 500, is the bank supposed to charge 80% per month interest? I had multiple discussions with the customer care executives but they refused to listen and understand and only wanted that extra amount to be paid to bank. So it was decided to deactivate the card. After that I did NOT hear anything from Standard Chartered Bank either through email, or phone or through letter correspondence.

Now after the span of more than 2 years I applied for home loan and during that processing I came to know I have a payment due of approx INR 7240 which came as a surprise for me. Firstly, card was deactivated then how could that amount be there due on me? Secondly, I did not hear anything from the bank about this. Thirdly, if by chance I had applied for loan after another 2-3 years, bank would have made INR 1 Lac due on me!!!!!

I called the customer care (Phone banking) and first they asked me to visit MG Road, Bangalore branch. There I was asked to go to Koramangala, Bangalore branch. However even Koramangala branch also does not handle credit card specific grievances but one executive sent an email to customer care to handle my case. I got the call from customer care and I explained complete problem and situation to customer care executive. He ensured me that if there are no transactions from my side, he will reverse the charges and issue a full and final settlement letter. Meanwhile I also requested for my contact details and requested for last 26 months email statement. I was told that it will take 2-3 working days to send the email statement. I called after 2-3 working days and some other executive told me that it will take 7-10 working days to send the statement. I fail to understand whether all customer care executives are actually knowledgeable about the processing time to generate the statement.

After this I got the call from Standard Chartered Banks Recovery department (Mr. Shyam) for my complaint. The executive admitted that there was delay in processing from the bank but still the I would need to pay the INR 7240!!! On explanation he told that you did not do "Closure" of your card but did just "Deactivated" the card. As a normal middle class customer would I really need to bother or read banking literature before I put up a request to customer care executive? Even if there is a difference between these 2 terms, then why was I not getting the statement from the bank? Also it very ironical that on the one hand bank executive is admitting that there was delay in processing from bank's side and on the other hand asking customer to pay for bank's delay. It is clearly evident that an advantage of my situation is being taken. Bank knows that I will be forced to pay unnecessarily to get my home loan processed.

The same evening I called up the executive who had contacted me for the first time and told him about the discussion that happened with recovery department. He told me that bank would waive off INR 4000 and I would still be liable to pay INR 3380 approx. Now in any case I felt that I have to be a victim of someone else's mistake and circumstances, my bad luck and bad experience with the bank.

Next day I got the call from recovery department and they asked me to pay INR4500 instead of INR3380. I could not understand that when one executive had already confirmed for INR3380 then why recovery department is indicating INR4500. On arguing they agreed for INR 3380 but asked me to pay INR 3500!!! I could not understand this difference again and then after again arguing it was agreed for INR3380. It was mutually discussed that I will pay by cash at my office from your collection executive on production of full and final settlement from Standard Chartered bank.

Now, is there any body who can answer my questions:-
1. Why the hell was I charged when I made the payment on time and it was a delay from banks side?
2. What was the rate of interest with which the late fees was charged?
3. If my account was deactivated, why they kept on charging interest on that?
4. After 2 yrs, when they agree that there were no dues from my side, then why do I have to make the payment.

I cant see any other reason except taking advantage of the situation of the customer. Is this a new policy bank has come up to earn money? Is this the way a multinational company deals with their customers? Is there anyone who can stop these banks from cheating innocent customers? Is that the only way left for us to spend our hard earned money? I know the amount is not that big, but i am highly surprised with the way it has happened.

I request you to look into this matter and take action appropriately. As a helpless customer with no choice I have no other go except to pay the amount I am asked for.

Neha Khandelwal