Citi Bank, Credit Card Division, Chennai — insistence by citi bank that cheque payments even if received on time will not be treated as payment received.

Citi bank insists that cheque payments towards their credit card dues be made at least 7 days in advance and even if they receive cheques on or before due date will not be treated as payment received but only actual date of credit of the amount to their account wi'll be treated as date of payment.

In my case, the cheque payment made by me was received by citi bank 3 days before the due date. Still, they levied on me over rs.2000/- towards late fee, interest etc. On the pretext that they actually received the credit only after the dud date. (However, on taking up the matter they reversed the extra chargeswith a warning that i should take into consideration the expected bank holidays, general holidays etc before dropping the cheques).

They claim that they are following rbi instructions in regard to cheque payments the supreme court of india has already ruled that cheques received on or before due date, shall be treated as payment received, just like cash payment, and, therefore, in such cases no late payment or interests can be levied by any institutions.

I took up the matter with citi bank several times but they are not prepared to follow supreme court orders.. They insist that they are following rbi instructions. I think rbi cannot over rule supreme court orders. Hence, please instruct citi bank to follow thd correct procedure in regard to cheque payments.
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    Citi Bank, Credit Card Division, Chennai
    Citi Bank Credit Card Division, Chennai.
    India
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