Yes Bank — Credit Card No. [protected]

Address:

No.7, 1st Cross, SMR Layout, Basavanapura, Bangalore

Dear Sir,

This is regarding my Yes Bank credit card No. [protected] which I used first time to purchase jewellery for my niece wedding in Nov 2020. The purchase amount was Rs.2, 16, 000/- and later bank executive called and inform me that there is an over-limit of Rs.16000/-. I was not aware of this over the limit amount issue and they will charge the penalty for it. I immediately paid the over-limit Rs. 16000/- after came to know about it.

I received the statement in following month Dec 2020 and it was showing Rs. 500/- as an over-limit penalty and Rs.19/- as tax amount even after paying back the over-limit within few days. I paid back the remain amount Rs. 2, 00, 000/- before due date and requested Yes Bank customer care to waive off the penalty total amount Rs. 519/-.

I was not satisfied bank reply that they shared a link of terms and condition about over-limit charges which I was not aware of their hidden terms. Why Yes Bank is allowing to use customer over-limit transaction and forced to pay this kind of penalty? Normally other banks will not allow the over-limit transaction. This is a security threat for Yes Bank CC account holders and additionally forced to charge the credit card usage (as over limit) penality.

Since only left out Rs. 519/- which is a penalty and disputed amount in my account. When I received Jan 2021 statement and the total due amount was Rs. 13, 332.12. I am not understanding why Bank is charging this heavy penalty for the non-payment of Rs.519/- which is a disputed amount and expecting to revert back or waive off.

Kindly provide me with justice on this unethical practice of Yes bank.

Regards,
Jayaprakash
[protected]