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Old 15th November 2012, 16:36   #796
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How does the "Surcharge Waiver" work? Recently, my Friend and me had gone to Indian Oil. We filled up for 1000Rs and he paid using his "Citibank IOC Card". When he was signing the receipt, i saw the breakup as below -
Amount: 1025
Surcharge Waiver: 25
Total : 1000

Even though he filled up for 1000, why was he billed for 1025? And what is the point of "providing" 25Rs waiver when he was charged 25 Extra to begin with? When we asked the attendant, He mentioned this is the "Directive" from the Bank and we need to contact the bank itself! Anybody else experienced this?
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Old 15th November 2012, 16:52   #797
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Default Re: The Credit Card Thread

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Originally Posted by bond_bhai View Post
How does the "Surcharge Waiver" work? Recently, my Friend and me had gone to Indian Oil. We filled up for 1000Rs and he paid using his "Citibank IOC Card". When he was signing the receipt, i saw the breakup as below -
Amount: 1025
Surcharge Waiver: 25
Total : 1000

Even though he filled up for 1000, why was he billed for 1025? And what is the point of "providing" 25Rs waiver when he was charged 25 Extra to begin with? When we asked the attendant, He mentioned this is the "Directive" from the Bank and we need to contact the bank itself! Anybody else experienced this?
only on the Citibank IOC card there is that waiver, which i believe the bank with reverse into you account. not sure though as i don't have one of those cards.

on normal cards, there is a 2 or 2.5% surcharge that will be added to the amount (as you've mentioned above).
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Old 15th November 2012, 19:56   #798
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Default Re: The Credit Card Thread

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Originally Posted by bond_bhai View Post
How does the "Surcharge Waiver" work? Recently, my Friend and me had gone to Indian Oil. We filled up for 1000Rs and he paid using his "Citibank IOC Card". When he was signing the receipt, i saw the breakup as below -
Amount: 1025
Surcharge Waiver: 25
Total : 1000

Even though he filled up for 1000, why was he billed for 1025? And what is the point of "providing" 25Rs waiver when he was charged 25 Extra to begin with? When we asked the attendant, He mentioned this is the "Directive" from the Bank and we need to contact the bank itself! Anybody else experienced this?
I can comment on this as I work for the mentioned organisation. It is to explicitly make you understand that you are saving Rs. 25 by using our card which you might have not otherwise. You probably would have paid Rs. 1025 if you were to pay the fuel surcharge which Citi has waived for you. This change in billing pattern was implemented around a year ago.

Last edited by WanderNomad : 15th November 2012 at 19:57.
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Old 15th November 2012, 21:20   #799
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Quote:
Originally Posted by WanderNomad

I can comment on this as I work for the mentioned organisation. It is to explicitly make you understand that you are saving Rs. 25 by using our card which you might have not otherwise. You probably would have paid Rs. 1025 if you were to pay the fuel surcharge which Citi has waived for you. This change in billing pattern was implemented around a year ago.
Correct me if I'm wrong. This facility is available only at Citibank terminals. I fill petrol at an Indian Oil pump which has Citibank terminals and I see Rs. 25/- refund in the chargeslip.
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Old 16th November 2012, 13:29   #800
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Correct me if I'm wrong. This facility is available only at Citibank terminals. I fill petrol at an Indian Oil pump which has Citibank terminals and I see Rs. 25/- refund in the chargeslip.
You are correct here. You will see this pattern only at Citibank terminals because the software has been configures in such terminals only.
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Old 16th November 2012, 14:34   #801
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You are correct here. You will see this pattern only at Citibank terminals because the software has been configures in such terminals only.
It has got more to do with commercials, than software. Software can be written/configured to do anything.

Citibank can do it because they don't have to pay MasterCard or Visa in such cases. Well, any bank can do it, though I'm not sure how many banks are doing it. I remember ICICI Bank used to do it (I've not used ICICI Bank credit card for petrol for many years now). HDFC Bank used to charge when I used their debit card at their terminal
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Old 16th November 2012, 15:08   #802
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yes ICICI HPCL card reverses the charges applied but they show it just in statement not in the charge receipt.
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Old 19th November 2012, 12:59   #803
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Originally Posted by WanderNomad View Post
I can comment on this as I work for the mentioned organisation. It is to explicitly make you understand that you are saving Rs. 25 by using our card which you might have not otherwise. You probably would have paid Rs. 1025 if you were to pay the fuel surcharge which Citi has waived for you. This change in billing pattern was implemented around a year ago.
Thanks WanderNomad! What happens if one swipes the card in a Non-IOC petrol pump? Will the "Surcharge" be applied or will be charged and refunded back later?
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Old 19th November 2012, 15:15   #804
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Originally Posted by bond_bhai View Post
Thanks WanderNomad! What happens if one swipes the card in a Non-IOC petrol pump? Will the "Surcharge" be applied or will be charged and refunded back later?
it is applicable only for IOC pumps. elsewhere, you'll have to pay the surcharge of 2.5%.
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Old 19th November 2012, 16:26   #805
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Pure marketing gimmick.

Surcharge is the charge levied by the bank for using their card to fill petrol.

So when we use a credit card to fill up the tank, we find the charge on the statement. Most banks have cards which reverse these charges. The catch here is that different credit cards are tied up with different oil companies and the surcharge wont be reversed if they have no connection. Some new cards discount surcharge on all oil fills though.

I am waiting for one such card company to tie up with Shell. Is there one?
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Old 29th November 2012, 08:05   #806
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I have been getting frequent calls from ICICI offering their Coral credit card. They claim it is microchip based and so impossible to clone. Their website has just a one line detail on this stating it is "virtually impossible to duplicate". Is their claim true or is it just a marketing gimmick?
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Old 29th November 2012, 08:07   #807
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Originally Posted by devarshi84 View Post

I am waiting for one such card company to tie up with Shell. Is there one?
My hdfc visa signature card waives off all surcharge from any petrol bunk using any swipe machine. Limited to fuel bills between Rs 400 and 4000.

No annual fee also.
Regards,
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Old 29th November 2012, 11:38   #808
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I have been getting frequent calls from ICICI offering their Coral credit card. They claim it is microchip based and so impossible to clone. Their website has just a one line detail on this stating it is "virtually impossible to duplicate". Is their claim true or is it just a marketing gimmick?
That is an EMV card, with a chip. It is a lot more secure than the current set of magnetic stripe cards. They are natural upgrade for cards, as happened in European countries. But, the banks in India are making it exclusive, by charging huge fees. I too was offered this card by ICICI Bank and the charges were sugar coated. I asked for explanation for the charges and offerings and the lady never called back!

Considering the fraud levels in India and how well I use my existing cards, I will not upgrade unless they are offered free of cost. This may pose a few problems while traveling to certain countries, but other avenues can be found.
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Old 29th November 2012, 11:44   #809
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Originally Posted by sa_kiran View Post
That is an EMV card, with a chip. It is a lot more secure than the current set of magnetic stripe cards. They are natural upgrade for cards, as happened in European countries. But, the banks in India are making it exclusive, by charging huge fees. I too was offered this card by ICICI Bank and the charges were sugar coated. I asked for explanation for the charges and offerings and the lady never called back!
HDFC doesn't - got a visa signature card and so do a lot of other colleagues. The only catch is you need to spend certain X amount annually, which is not a big deal.

If I remember correctly, ICICI Coral cards has the tie-up with BookMyShow and other websites offering fixed free tickets every month (2 I think). A colleague who has it thinks the annual fees is worth the ticket money he saves. Anyway that's an individual choice.

But yes, you are correct in stating that these chip/EMV cards are a natural upgrade for the magnetic strip cards which is being paraded as "exclusive" cards.
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Old 29th November 2012, 11:49   #810
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If I remember correctly, ICICI Coral cards has the tie-up with BookMyShow and other websites offering fixed free tickets every month (2 I think). A colleague who has it thinks the annual fees is worth the ticket money he saves. Anyway that's an individual choice.

But yes, you are correct in stating that these chip/EMV cards are a natural upgrade for the magnetic strip cards which is being paraded as "exclusive" cards.
If I recall correctly, movie tickets are available for a particular multiplex (which is very far from my place). It makes absolutely no sense for me to drive 30 km one way to reach that multiplex when there are 3 multiplexes in 5 km radius from my place. Also, are there good movies to watch? The last one that I watched, Jab Tak Hain Jaan was a absolute pain. Well, it is my opinion, other can have theirs.

Currently, EMV upgrade is offered only to credit cards. I'm keen to know how the banks act when it comes to upgrading debit cards, which RBI has been pushing for.

Last edited by sa_kiran : 29th November 2012 at 11:50.
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