[Resolved]  ICICI Bank Credit Card — EMI Transaction

Hi There,

I am pitching into this complaint forum because I am not satisfied with the answers that i have received from ICICI Bank (Accounts Manager), whenever I approached them i am getting the same answers and know answers and they are not allowing me to speak to another level and even when i went to compain using direct compaint form i was asked to write a lot of details which i dont know.

I am been continously approaching the team to answer this query, please assist me in this regard and i am a real frustrated customer of this bank this month.

This bank basically taken back an existing facility without informing its customers, thinking that this facility is available in the bank i made a transaction, after making this i came to know that this facility is no longer available which is really frustrating.

I have attached the conversation emails herewith for your reference, i request you to look into this and provide me an update in terms of justice as early as you can.

Thanks,
Nagesh ([protected])


________________________________________________________________________________...⇄

Dear Mr. Nagesh,


We sincerely regret the inconvenience caused and look forward to your co-operation in the interim.

We do understand your concern. However,we request you understand our limitations in this regard as we will not be able to deviate from the policy which is revised in July,2009.

Currently, Bank is reviewing this service , hence the EMI facility is not offered at present as per the policy.

You may make the payment within three months as you have informed but the interest charge will be levied for the part payment.

The amount outstanding in your credit card account was Rs.11,466.93 according to the October statement.

We have not received the total amount due towards the same. Hence, the interest charge is levied as part payment is received towards your card dues.

According to the card holder manual, interest charges are accrued if you make a payment for minimum amount outstanding or a payment less than total amount outstanding or if no payment is made.

If total amount outstanding is paid before due date of a statement, interest charges will not be levied.

Interest is charged based on the following criteria:

-+ On the transactions in previous statement from the respective transaction date till the statement date

-+ On the total amount outstanding from the statement date till the part payment date

-+ On the remaining amount outstanding balance till the next statement date

-+ On the fresh purchases done thereafter, till the next statement date.

Rate of interest @ 3.40% is applicable for your ICICI Bank Credit Card whenever a part payment is being made and for any Cash Withdrawal.

We are concerned on you being dissatisfied. We hope you understand our limitations in this regard.

You can log into our website www.icicibank.com and register your query in the complaints query and will be able to find the office address of the Nodal officer.

Following are steps for escalation to next level.
log into our website www.icicibank.com
Click on complaints option
Select the option from Good, Fair, Poor,
Lodge a complaint
Select the level of escalation
Looking forward to your co-operation.

Sincerely,

Preeti smita
Customer Service Manager
ICICI Bank Limited


-----Original Message-----
From: [protected]@infinity.icicibank.co.in[protected]@infinity.icicibank.co.in)
Date: Saturday, September 12, 2009 07:02 AM
To: [protected]@icicibank.com ([protected]@icicibank.com)
Subject: RE: Credit Card

I think you are not understanding the question here, because i am not able to pay my due within the due date i thought i can convert the transaction into emi hence, made a transaction, if you want me to pay my arrears i want a minimum of 3 months time, if not i will quit your service and my look for other banks.

Now that you as a Account Manager not understanding me question i would like to speak to a higher authority.

I would appreciate if i am addressed with my first name not with my last name.

This is being a worst part of ICICI not understanding customer query.

Nagesh


-----Reply Separator-------Dear Mr. Rajappa,

We are deeply concerned with the issues raised by you in your e-mail. We regret for the inconvenience caused to you.

Please clear the total outstanding due as per the statement within the due date, so as to avoid the levy of financial charges.

We request you to understand that we need to follow company policy so as to enable smooth conduct of your credit-card account and thus ensure that you receive all the privileges you are entitled to.

We are concerned on you being dissatisfied. We hope you understand our limitations in this regard.

We tried to contact you on your mobile number [protected] at 5:30 pm & 5:55 pm, however you were not contactable.

Looking forward for your cooperation to help us serve you better.

Sincerely,

Panthati Nagaraj
Account Manager
ICICI Bank Limited

"ICICI Bank now offers 6.75% of interest p.a. on fixed deposits for 390 days, 590 days, 7.25% of interest on fixed deposit for 790 days & 7.75% of interest p.a. on 990 days w.e.f . 01.08.2009 . Please contact any ICICI Bank branch."

Register your ICICI Bank credit card for Verified by Visa / MasterCard SecureCode today to make your online transactions safer. RBI guidelines make this second level authentication, mandatory for all Internet card transactions from August 1, 2009. For registration and further details, please visit the Cards section
of www.icicibank.com.


-----Original Message-----
From: [protected]@infinity.icicibank.co.in[protected]@infinity.icicibank.co.in)
Date: Tuesday, September 08, 2009 12:27 AM
To: [protected]@icicibank.com ([protected]@icicibank.com)
Subject: RE: Credit Card

Hello Boss,

How can you say that my query is been attended, i am not satisfied with your answer to my question on telephone, please ask you Skip level manager to give a call to me i want to speak to them.

Being a manager you have not answered my question and you are very much silent for all my questions.

want to speak to someone (your manager) ASAP.

Nagesh

-----Reply Separator-------
Dear Mr.Rajappa,
On the basis of our telephonic conversation on September 02, 2009. we confirm you that your query regarding EMI has been attended.


Sincerely,

Ravi Kumar
Account Manager
ICICI Bank Limited


"ICICI Bank now offers 6.75% of interest p.a. on fixed deposits for 390 days, 590 days, 7.25% of interest on fixed deposit for 790 days & 7.75% of interest p.a. on 990 days w.e.f . 01.08.2009 . Please contact any ICICI Bank branch."

Register your ICICI Bank credit card for Verified by Visa / MasterCard SecureCode today to make your online transactions safer. RBI guidelines make this second level authentication, mandatory for all Internet card transactions from August 1, 2009. For registration and further details, please visit the Cards section
of www.icicibank.com.

We value your feedback on your experience with our response to this query. Please click the "Feedback" tab and give us your views.



-----Original Message-----
From: [protected]@infinity.icicibank.co.in[protected]@infinity.icicibank.co.in)
Date: Tuesday, September 01, 2009 12:24 AM
To: [protected]@icicibank.com ([protected]@icicibank.com)
Subject: RE: Credit Card

Infuture if you intimate me thats fine but what about the transaction that i have done now thinking the facility is still available.

I think you are not getting my point here, now i am not ready to pay the interest for my transaction.

please read the email that i have sent earlier and reply to me as required.

Nagesh

-----Reply Separator-------Dear Mr. Rajappa,

Thank you for your interest in converting the transaction done on your credit card into Easy Monthly Installment (EMI) mode of repayment.

In a recent review of our policy guidelines, we decided to discontinue the conversion of transaction into EMI temporarily from July, 2009 onwards. Hence we regret to inform you that we will not be able to process your request.

If this facility is reinstated, we will communicate to you through our various channels, at the earliest.

I regret the inconvenience caused. Please continue enjoying the other features and benefits available on your ICICI Bank credit card.

Looking forward to other opportunities to be of service to you,

Sincerely,

Sugandam.N
Account Manager
ICICI Bank Limited

Safe Tip: Remember your passwords and do not tell anyone else, be it your close relative, trusted friend or even your banker.

Instantly generate your credit card PIN on the phone by calling our 24-hour Customer Care.




-----Original Message-----
From: [protected]@infinity.icicibank.co.in[protected]@infinity.icicibank.co.in)
Date: Saturday, August 29, 2009 07:38 AM
To: [protected]@icicibank.com ([protected]@icicibank.com)
Subject: Credit Card

Branch Id : VP Account Id : [protected]
23/08/2009 74332749236923510101079 SANGEETHA Rs. 9,524.00(DR)

Hi There,

I have made the above transaction using my credit card [protected] thinking that I can convert this transaction into EMI as I was using ICICI bank EMI facility from more than a year. When I visited internet banking it was not allowing my to convert my transaction to EMI and when I called up phone banking I came to know that ICICI bank stopped providing EMI facility to its customer.

My questions are:

1. Why is this not informed to customers when an existing facility in the bank is taken back? , if it is informed I would have not done this transaction at all.
2. Why should I pay interest for the transaction when I wanted to convert this transaction to EMI

I am a customer for ICICI bank from more than 2 years and I was very happy with the facilities that ICICI bank provided me and all of a sudden it stopped an existing facility without informing the customers which is really a reputation loss for the bank.

Now I don?t want to pay interest for the transaction and if in case I was made to pay any interest I am thinking to put a case against the bank and I will definitely raise my voice as a customer.

Looking forward for you response.

Your unsatisfied customer,
Nagesh ([protected])