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Old 29th October 2010, 17:08   #481
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Originally Posted by rohan_iitr View Post
Why would the net banking bank bother at all ? The online transaction was performed properly and the amount was debited properly at their end.

IMHO, the problem lies with the credit card issuing bank. How did they manage to duplicate the transaction, that too after 5 days ?

Anyway, I would be keeping quiet for a while and see how things turn out.
I dont get this here.

You have used internet banking to pay your CC bill.The technical glitch was at the end of your bank, not the bank who has issued you a credit card.The credit card bank will not send you another confirmation that the credit card payment has been received unless they get the remittance from another bank( in this case,your bank).

I am sure your bank will realize the error and this will reflect in your bank statement.

Last edited by SILVERWOOD : 29th October 2010 at 17:20. Reason: Edit
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Old 29th October 2010, 17:42   #482
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Credit card and issues goes hand in hand. Just wanted to share my recent experience. My kotak credit card gives me 10% cashback for spends on hotel and restaurants. However condition is

"enjoy cash back on your Kotak Credit Card only on the first 5 dining & movie transactions or up to a maximum of Rs 600 in a billing cycle whichever is earlier only if total purchases are above Rs.5000.00 in billing cycle."

Once this limit is exhausted, you will not be entitled for any more cash back on dining and entertainment in that cycle.


Unfortunately , my last transaction of Rs 930/- which was also important to cross Rs 5000/- spend in a cycle was done on last day of my billing.

Now customer care is claiming that though last transaction of Rs 930/- done on last day of my billing cycle is not claimed by vendor in time so I am not eligible for cashback as it went in next bill. So i am not eligible for cash back !!

all spends are with in my one billing cycle (from 21st to 20th of every month).

Already had word with three layers up in customer care. They say its not their fault and nothing can be done.

My question is

1. Why should a customer suffer for a technicalities involved in vendor claim cycle? On my part I did used card on 20th and same was deducted from my credit balance immediately. So I did complete all my duties on same day and well within my billing cycle. Even my account states transaction date as 20 Oct.
2. Never I was updated explicitly told by Cust Care that I need to consider “vendor claim cycle” to become eligible nor I was cautioned to avoid last day transactions to avoid such consequences.
3. To some extent , I understand billing is a automated process, however flexibility and simple logic cant be sacrificed for that.


I am taking this fight ahead. Lets see where it ends.
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Old 29th October 2010, 21:01   #483
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Originally Posted by idea View Post
Credit card and issues goes hand in hand. Just wanted to share my recent experience. My kotak credit card gives me 10% cashback for spends on hotel and restaurants. However condition is

"enjoy cash back on your Kotak Credit Card only on the first 5 dining & movie transactions or up to a maximum of Rs 600 in a billing cycle whichever is earlier only if total purchases are above Rs.5000.00 in billing cycle."

Once this limit is exhausted, you will not be entitled for any more cash back on dining and entertainment in that cycle.


Unfortunately , my last transaction of Rs 930/- which was also important to cross Rs 5000/- spend in a cycle was done on last day of my billing.

Now customer care is claiming that though last transaction of Rs 930/- done on last day of my billing cycle is not claimed by vendor in time so I am not eligible for cashback as it went in next bill. So i am not eligible for cash back !!

all spends are with in my one billing cycle (from 21st to 20th of every month).

Already had word with three layers up in customer care. They say its not their fault and nothing can be done.

My question is

1. Why should a customer suffer for a technicalities involved in vendor claim cycle? On my part I did used card on 20th and same was deducted from my credit balance immediately. So I did complete all my duties on same day and well within my billing cycle. Even my account states transaction date as 20 Oct.
2. Never I was updated explicitly told by Cust Care that I need to consider “vendor claim cycle” to become eligible nor I was cautioned to avoid last day transactions to avoid such consequences.
3. To some extent , I understand billing is a automated process, however flexibility and simple logic cant be sacrificed for that.


I am taking this fight ahead. Lets see where it ends.
Well! I had a similar situation with hsbc debit card, and I made a transaction on the last day of the offer period - at 8pm to be precise ... but I got the voucher as promised by hsbc.
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Old 29th October 2010, 21:53   #484
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Quote:
Originally Posted by SILVERWOOD View Post
You have used internet banking to pay your CC bill.The technical glitch was at the end of your bank, not the bank who has issued you a credit card.The credit card bank will not send you another confirmation that the credit card payment has been received unless they get the remittance from another bank( in this case,your bank).
This is more complex then that.

Payments are processed by a third party and not by credit card issuing bank or bank serving the savings account.

When you pay credit card bill via net, it would be processed by a third party (E.g. BillDesk). Bank pays billdesk and knows nothing about credit card.

BillDesk (or a different bill payment provider) sends a list of all payments made to Credit Card bank. It makes consolidated payment at a set frequency (E.g. Once every weekday)

Either that provider sent this entry twice, or this entry was processed twice by credit card issuing bank.

In either case, this duplicate transaction will cause reconciliation issue between Credit Card bank and bill payment service provider.

Unless this amount crosses a certain threshold, this issue would be signed off by some authorized employee and things would remain as it is. Cases where it would cross threshold is when multiple customers got this duplicate entries.
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Old 30th October 2010, 18:55   #485
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Originally Posted by NetfreakBombay View Post
This is more complex then that.

Payments are processed by a third party and not by credit card issuing bank or bank serving the savings account.

When you pay credit card bill via net, it would be processed by a third party (E.g. BillDesk). Bank pays billdesk and knows nothing about credit card.
Thanks for clarifying this.

I was never aware of a third party.
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Old 8th November 2010, 14:53   #486
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Update:

The double transaction was caught by the credit card issuing bank the very next day and the problem was rectified.

I didn't call the bank, they found the mistake on their own. My faith in the banking system has been restored, it seems like they do have some mechanism for catching such mistakes.

Rohan
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Old 18th November 2010, 14:40   #487
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Quote:
Originally Posted by idea View Post
Credit card and issues goes hand in hand. Just wanted to share my recent experience. My kotak credit card gives me 10% cashback for spends on hotel and restaurants. However condition is

"enjoy cash back on your Kotak Credit Card only on the first 5 dining & movie transactions or up to a maximum of Rs 600 in a billing cycle whichever is earlier only if total purchases are above Rs.5000.00 in billing cycle."

Once this limit is exhausted, you will not be entitled for any more cash back on dining and entertainment in that cycle.


Unfortunately , my last transaction of Rs 930/- which was also important to cross Rs 5000/- spend in a cycle was done on last day of my billing.

Now customer care is claiming that though last transaction of Rs 930/- done on last day of my billing cycle is not claimed by vendor in time so I am not eligible for cashback as it went in next bill. So i am not eligible for cash back !!

all spends are with in my one billing cycle (from 21st to 20th of every month).

Already had word with three layers up in customer care. They say its not their fault and nothing can be done.

My question is

1. Why should a customer suffer for a technicalities involved in vendor claim cycle? On my part I did used card on 20th and same was deducted from my credit balance immediately. So I did complete all my duties on same day and well within my billing cycle. Even my account states transaction date as 20 Oct.
2. Never I was updated explicitly told by Cust Care that I need to consider “vendor claim cycle” to become eligible nor I was cautioned to avoid last day transactions to avoid such consequences.
3. To some extent , I understand billing is a automated process, however flexibility and simple logic cant be sacrificed for that.


I am taking this fight ahead. Lets see where it ends.
Though its late for this message but worthwhile for mentioning it for the benefit of others.

Till the time your vendor has not put in these bills to the bank, the bank will not consider these as an expenses for you.

This is something good for you, as it gives you a benefit of 3-4 days for billing from the time you swipe your card.

Once, I had to make a payment above few lakhs, and I paid by credit card, the vendor didnt put this request for 2 months to the bank and I enjoyed interest for that amount with me for a time of more than 2 months.

You can ask the bank to consider this purchase on the transaction date and not billed.
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Old 18th November 2010, 15:31   #488
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Anybody has had issues with credit cards that were "supposed" to NOT charge fuel surcharge and they do. I've had many instances where I'd end up fighting with the call center and no reversals. Its only at some pumps where they wont charge and thats normally within city limits. The moment you go out of town you better be carrying cash. Completely beats the benefits of having a card in the first place. (Appologies for the rant, it actually hurts)
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Old 18th November 2010, 15:41   #489
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Originally Posted by kartikk View Post
Anybody has had issues with credit cards that were "supposed" to...actually hurts)
Well, I haven't but it does make sense when applying for a CC one must specifically ask if the CC can be used through out India across all fuel pumps.

My Axis bank CC provides this facility of filling up across all fuel stations in India; sounds cool? Well the reversal is possible only when the transaction amount is between Rs 400 & Rs 4000. For a car, its not an issue, but when used for motorcycles, one should be careful.

@Kartikk - There's several cards that provide various options; for eg, Citi bank had a tie up with IOC & valid across any IOC in India, but the surcharge were applicable for HP & BPCL. So understanding the terms is more important.
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Old 18th November 2010, 15:57   #490
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Originally Posted by aargee View Post
for eg, Citi bank had a tie up with IOC & valid across any IOC in India,
I have same Citi IOC card and it is not valid across any IOC in India.
The surcharge is waved if it is used at IOC bunk with Citibank swiping machine.
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Old 18th November 2010, 16:18   #491
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I have same Citi IOC card and it is not valid across any IOC in India.
The surcharge is waved if it is used at IOC bunk with Citibank swiping machine.
saar, it once had this facility; I'm talking about the scenario somewhere during 2002/03 as we were given this option & finally I ended up picking up a silver card.

BTW, RBS had this policy of surcharge waiver on any fuel station across India that had been revoked since Sep 2010.
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Old 18th November 2010, 16:19   #492
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I had a Visa Platinum card from HDFC. No surcharge at any bunk anywhere in India, if the transaction value was between Rs 400 - 4000.

Now it has been upgraded to Visa Platinum Signature card, and there is no surcharge at any bunk, irrespective of the transaction value.

Needless to say, it does not matter on what bank's machine both the cards were swiped.

Last edited by Gansan : 18th November 2010 at 16:20.
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Old 18th November 2010, 16:25   #493
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Originally Posted by Gansan View Post
I had a Visa Platinum card from HDFC. No surcharge at any bunk anywhere in India, if the transaction value was between Rs 400 - 4000.

Now it has been upgraded to Visa Platinum Signature card, and there is no surcharge at any bunk, irrespective of the transaction value.

Needless to say, it does not matter on what bank's machine both the cards were swiped.

Gansan, That CC is a dream card! What are the annual charges for this card?
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Old 18th November 2010, 16:36   #494
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Gansan, That CC is a dream card! What are the annual charges for this card?
It is a lifetime free card.
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Old 19th November 2010, 12:37   #495
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Gansan, That CC is a dream card! What are the annual charges for this card?
Is it really that rare. I can recall, most of my cards have this waiver. Infact some of them gives cashback for petrol filling at ANY pump.
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