[Resolved]  HDFC Bank — credit card emi conversion

Address:

Whitefield, 560066

On 07.03.2019, We had Purchased A Samsung Mobile Phone from A Samsung
Brand Shop -M/s Jinnani Times Situated On OTC Road, Bangalore-560002.

As, a Holder of HDFC Credit card, with a required credit spending limit, The Offer given by the Brand store was that a 9 month Interest free EMI would be given to me, as well as an additional Cashback of Rs.6000/- would also be credited into my credit card account with a period of 90 days from the date of the transaction.

We bought the Samsung S10+ at 71900/- and made the Payment through the credit card, and the Charge-slip we got also was printed with facts of Brand Paid EMI of 9 months and Cashback of Rs.6000/- with no processing fee.

After a week, We get a call from the Bank that our EMI is rejected due to the Merchant was listed by the Bank as a Jeweller and as per Regulations, a jewellery dealer cannot offer EMI on his sales.

That was a ridiculous reason as the store never looked like a Jewellery store (pictures of store attached as proof).

On further discussion with the Merchant, he clarified that he was never into jewellery trade, and also his Earlier customers who availed EMI through cards were never denied EMI by their bankers.

He then immediately sent emails to his Merchant Banker- Coincidentally HDFC bank, about the same, to which they admitted that the Merchant was wrongly categorized by the Bank itself into Jewellery and allied trade.

In the Mean time, I again got in touch with my HDFC credit card customer care, and requested them to approve the EMI, as the merchandise bought had the approvals, and the chargeslip issued also Endorsed the same.

Due to my Financial commitments, I am in no position to repay the Due in full as demanded by the bank, nor can afford to pay the Financial charges, for the same.

The Merchant also informed his Merchant Banker-HDFC to correct the mistake they have done, for the Merchant Banker has sought time as approvals have to be raised and passed to the concerned people in the Bank. I have spoken to lot of executives and even the escalation managers (one of them being Malini) from HDFC bank, but all in vain. Nobody is ready to listen and rectify the mistake. I hereby attach the bill copy of the purchase of the product as well. Escalation Reference no. ESC00126152
Service Request No. [protected]