[Resolved] SRMB Srijan Ltd — Credit card no:- [protected](ABN Amro Titanium 1 Credit card)
With reference to the above, I would like to inform your goodselves that I am more than 2 years old credit card holder with your bank having high credit card billing volume and good payment track record. I have always found your credit card services to be good and customer friendly caring approach as per the needs of the customers and found my disputes have been resolved at the earliest.
With reference to my above mentioned statements for the billing period of June and July as per sl no 2 & 3 above, I would like to bring to your notice that I have made 9 transactions totaling 2547.82 GBP in UK. I am totally surprised to find that the exchange rate charged by your bank is far higher than the exchange rates prevailing in the market on these days. I am enclosing herewith the vouchers of GBP purchased by me during that period which is Rs. 4/- - Rs. 6/- lower for every 1 GBP charged by your bank on my credit card. I had tried to inquire against the same with your helpline and found to my utter surprise that there is 3.5% service charge chargeable by your bank on foreign transaction and that service charge is chargeable on your bank GBP TO INR rate which is not only higher than inter banking rate, but much higher than the prevailing market rates of other bank and major foreign exchange agencies in India. Therefore, you will appreciate that not only I am paying higher foreign exchange rate to your bank because of these transaction, but also paying 3.5% extra charges for these transactions. I regret to inform your goodselves that the above 2 losses have come as a total surprise for me and I would request you to reverse these charges and charge the exchange rate as per the inter banking rate or the prevailing foreign exchange market rates during these days.
The above transactions through your credit card has been made by me on good faith basis and the assumption that your being an international European bank and now owned by RBS would give me the best possible pound - sterling rates.
I hope that your good office shall look into my request and consider charging practical foreign exchange rates on my transactions, failing which I regret to state that I may loose all faith and interest in your card services and would be compelled to discontinue the same.
With best regards,
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Aug 14, 2020Complaint marked as Resolved
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