Go Back   Team-BHP > Around the Corner > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 8th January 2014, 12:54   #1486
BHPian
 
Gokrish's Avatar
 
Join Date: Aug 2013
Location: Chennai and AR
Posts: 287
Thanked: 155 Times
Default

Quote:
Originally Posted by Lij View Post
Yesterday got an sms mentioning my ICICI bank credit card is blocked suspecting compromise on it.
I checked with the call center and they said that multiple attempts for transaction were made at a single merchant for purchase due to which they blocked my card and have issued a new one against it. They didn't mention which merchant it was attempted at.
On checking luckily the outstanding amount was same as the that after my previous successful transaction. So no monetary loss!!
If it was merchant outlet, then must have been a card present transaction. If you remember your last card present transaction outlet, that is the culprit then.
Gokrish is offline   Reply With Quote
Old 8th January 2014, 15:26   #1487
Lij
BHPian
 
Join Date: Nov 2013
Location: Mumbai
Posts: 162
Thanked: 99 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by Gokrish View Post
If it was merchant outlet, then must have been a card present transaction. If you remember your last card present transaction outlet, that is the culprit then.
My last card present transaction was at Pantaloons on Dec 31st. I don't recollect the lady at the counter swiping more than once. After that had done an internet transaction on Monday. But I got the card compromised sms only yesterday.
Lij is offline   Reply With Quote
Old 8th January 2014, 18:00   #1488
BHPian
 
Gokrish's Avatar
 
Join Date: Aug 2013
Location: Chennai and AR
Posts: 287
Thanked: 155 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by Lij View Post
My last card present transaction was at Pantaloons on Dec 31st. I don't recollect the lady at the counter swiping more than once. After that had done an internet transaction on Monday. But I got the card compromised sms only yesterday.
Quite possible that the lady could have swiped it more than once. What was this internet transaction subsequent to the Pantaloons one? Was this a foreign currency payment?
Gokrish is offline   Reply With Quote
Old 8th January 2014, 18:02   #1489
Lij
BHPian
 
Join Date: Nov 2013
Location: Mumbai
Posts: 162
Thanked: 99 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by Gokrish View Post
What was this internet transaction subsequent to the Pantaloons one? Was this a foreign currency payment?
The internet transaction was a mobile bill payment which was successful at the first attempt.
Lij is offline   Reply With Quote
Old 9th January 2014, 15:59   #1490
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 7,042
Thanked: 3,586 Times
Default Re: The Credit Card Thread

Just got the StanC MC Preferred World Card for myself and my wife. I am thinking of surrendering the MC Titanium.
sgiitk is offline   Reply With Quote
Old 14th January 2014, 17:31   #1491
BHPian
 
shomshree's Avatar
 
Join Date: Nov 2009
Location: Kolkata
Posts: 107
Thanked: 233 Times
Default Re: The Credit Card Thread

The 2% Credit/Debit card Fraud. Pls read this blog.


http://jeba.in/2013/12/30/the-2-creditdebit-card-fraud/

How many of us has paid this. Read the RBI notification on this.

http://www.rbi.org.in/scripts/notifi...id=8461&mode=0
shomshree is offline   Reply With Quote
Old 14th January 2014, 17:45   #1492
BHPian
 
jkrishnakj's Avatar
 
Join Date: Apr 2010
Location: Bangalore
Posts: 494
Thanked: 302 Times
Default Re: The Credit Card Thread

Five years back, there was a training session i was sitting at on Banking Domain. The presenter was talking about how merchants charge this 2% and how its illegal to do so, and he gave us all audience only one hint.

The moment a merchant talks about additional charge, all we need to do is to ask for his "Merchant Banker" and call the bank help desk / merchant banker ( if the merchant is bold enough to give the Number ).

I have faced several situations hence where this 2% dialogue is thrown and the first reaction is do is to ask which bank they have the transaction with and the merchant banker number - and 90% of times it has worked that i swiped without any charge. The 10% is those cases, where the merchant denied doing business - or politely, asking me to get out. But, ever since i attended that program, i havent paid this at all -across jewellery, auto or any kind of purchases.

The Banks indeed charge merchants because there are additional costs for the bank, but the merchant cant charge back to the customers - logic is that the customer typically would spend more money thru a card as opposed to what he/she would do with cash - and therefore, the merchants get additional revenue. And hence, they shouldnt be passing on this cost to customers.

Worst case, one small email to the ombudsperson of the merchants bank helps, and in all probability, the bank will remove their POS from the merchant.
jkrishnakj is online now   Reply With Quote
Old 14th January 2014, 22:22   #1493
Senior - BHPian
 
sagarpadaki's Avatar
 
Join Date: May 2010
Location: Bengaluru
Posts: 2,604
Thanked: 1,203 Times
Default

Can someone post the direct link to the RBI webpage which explicitly states this additional charge is illegal?
sagarpadaki is online now   Reply With Quote
Old 14th January 2014, 23:22   #1494
Senior - BHPian
 
Join Date: Dec 2008
Location: Bangalore
Posts: 1,930
Thanked: 1,390 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by jkrishnakj View Post
The moment a merchant talks about additional charge, all we need to do is to ask for his "Merchant Banker" and call the bank help desk / merchant banker ( if the merchant is bold enough to give the Number ).

the merchant cant charge back to the customers - logic is that the customer typically would spend more money thru a card as opposed to what he/she would do with cash - and therefore, the merchants get additional revenue.
First thing - in the US, a court has ruled that merchants are allowed to pass on the interchange fees to the customers. This was about a year ago, and if pressed I can dig up a link. Obviously that ruling is applicable only there, but it does show that merchants can provide coherent arguments in their favour that do stand up in a court of law.

The reason usually cited against the additional charge is that it is discriminatory to charge different prices based on mode of payment. But on the other hand, elsewhere it is OK to charge customers who pay cash, something for the cost of handling currency notes.

I generally walk out of the store if it tries to charge me for credit card payments. But some monopoly retailers - fuel outlets, IRCTC, BESCOM/TANGENCO etc. - you really can't escape. :-(

The one time an automobile service station (I think it was the Kinetic/Honda two-wheeler place in Ranigunj in Hyderabad - forgot its name) I raised a big stink with the bank (ICICI Bank then). What I had in my favour was the invoice which was for amount X and the charge slip for amount X+2%. The bank eventually refunded me the excess 2% - don't know what transpired between them and the merchant.
binand is offline   Reply With Quote
Old 15th January 2014, 10:15   #1495
Team-BHP Support
 
noopster's Avatar
 
Join Date: Feb 2010
Location: Pune
Posts: 8,625
Thanked: 9,096 Times
Default

Quote:
Originally Posted by sagarpadaki View Post
Can someone post the direct link to the RBI webpage which explicitly states this additional charge is illegal?
I doubt there is any such law. Government owned oil companies and the Indian railways both charge a 2.5% surcharge on card transactions.
noopster is offline   Reply With Quote
Old 15th January 2014, 17:10   #1496
BHPian
 
shomshree's Avatar
 
Join Date: Nov 2009
Location: Kolkata
Posts: 107
Thanked: 233 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by sagarpadaki View Post
Can someone post the direct link to the RBI webpage which explicitly states this additional charge is illegal?
I found a link of RBI. The Clause 4: is for Debit Card.

http://www.rbi.org.in/scripts/notifi...id=8461&mode=0

4. Levying fees on debit card transactions by merchants - There are instances where merchant establishments levy fee as a percentage of the transaction value as charges on customers who are making payments for purchase of goods and services through debit cards. Such fee are not justifiable and are not permissible as per the bilateral agreement between the acquiring bank and the merchants and therefore calls for termination of the relationship of the bank with such establishments.


The below link is for Credit Card & Debit Card.
Clause 4.18: where its saying - "Charges are levied directly on customers only at few locations like petrol stations etc.

http://www.rbi.org.in/scripts/Public...2&SUBSECID=0#4
shomshree is offline   Reply With Quote
Old 15th January 2014, 17:36   #1497
BHPian
 
Join Date: Mar 2012
Location: Sydney, AU
Posts: 833
Thanked: 563 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by noopster View Post
I doubt there is any such law. Government owned oil companies and the Indian railways both charge a 2.5% surcharge on card transactions.
I think the additional charge on the fueling stations depends upon the bank and credit card holder agreement. For example I have two cards, one from HDFC and the other from ICICI. HDFC does not charge for transactions between Rs.400 and 2000 but ICICI does.
MaxTorque is offline   Reply With Quote
Old 15th January 2014, 18:03   #1498
Oxy
BHPian
 
Join Date: Sep 2011
Location: Bangalore
Posts: 157
Thanked: 147 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by binand View Post
I generally walk out of the store if it tries to charge me for credit card payments. But some monopoly retailers - fuel outlets, IRCTC, BESCOM/TANGENCO etc. - you really can't escape. :-(
I have now started to follow these rules:

Fuel Outlets: I use my ICICI credit card on HP bunks and my Citibank credit card on IOC bunks. So in these cases, I get the fuel surcharge waived off. At all other bunks, I pay cash.

IRCTC: I pay with my debit card.

BESCOM: I pay with Airtel Money. Really easy, hassle free and zero extra charges.
Oxy is offline   Reply With Quote
Old 15th January 2014, 18:21   #1499
BHPian
 
Join Date: Jan 2008
Location: Chennai
Posts: 449
Thanked: 6 Times
Default Re: The Credit Card Thread

Quote:
Originally Posted by Oxy View Post
I have now started to follow these rules:

Fuel Outlets: I use my ICICI credit card on HP bunks and my Citibank credit card on IOC bunks. So in these cases, I get the fuel surcharge waived off. At all other bunks, I pay cash.

IRCTC: I pay with my debit card.

BESCOM: I pay with Airtel Money. Really easy, hassle free and zero extra charges.
IRCTC does charge you for debit cards .
https://www.irctc.co.in/payment.html
Mission_Safari is offline   Reply With Quote
Old 19th January 2014, 22:35   #1500
BANNED
 
unknown's Avatar
 
Join Date: Sep 2005
Location: Earth
Posts: 429
Thanked: 13 Times
Default Re: The Credit Card Thread

Recently bought apparels from french connection store, I didn't like the shirts after reaching home so next day went to their store to exchange, they refused to exchange said we can't exchange during sale, really fed up with them, I made the payment via ciibank card, anything citiank can do if i file a dispute ? Any help would be appreciate.
Thanks !
unknown is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Credit Card Purchase Surcharge 1.5% (and a discussion on TIPS) sam003 Shifting gears 114 6th February 2013 12:28
Online Credit Card Scam...Pls help!! crn12 Shifting gears 20 21st January 2013 16:06
Credit Card:Converting Outstanding amount to EMI/Pay only minimum amount due?Advise ashwinsid Shifting gears 26 11th September 2009 15:24
Scary News : Network Solutions loses Credit Card information emkay456 Shifting gears 0 28th July 2009 14:01
Credit card menace kutlee Shifting gears 39 17th August 2007 18:59


All times are GMT +5.5. The time now is 23:03.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks