HDFC Bank not auto-crediting to SB A/c. the amounts refunded by Merchants on past C.C.transaction.
V GOPALA KRISHNA
(Querist) 28 April 2011
This query is : Resolved
I request for legal opinion, on the following:
HDFC Bank is not crediting to Savings Bnak account, the amounts refunded by Merchants on the past settled Credit Card transactions. Instead they are keeping the refunded amounts in Credit Card account to be adjusted against the debits i.e. purchases already done through credit card or future purchases to be done through credit card. When questioned by me they are telling that the net credit amount available on Credit Card a/c, (after adjusting the dues to Bank) will be transferred to S.B.A/c, in case I make a special request every time when such refundal comes. They are not accepting my standing instructions for the transfer of the refunded amount to S.B.A/c. I strongly feel that , by not crediting such refunded amounts to my S.B.A/c. direct,the bank is denying my right to draw such refunded amounts on which the bank is not having any lean. Kindly give expert advise. This might have happened to the respected members of Legalclub also and what they did in such cases. Kindly give your expert opinion. V.Gopala Krishna, Hyderbad.
Devajyoti Barman
(Expert) 28 April 2011
Yes, the activities of the bank does not appear to be permissible under the eye of law.
So before contemplating legal recourse , make a representation to the Banking Ombudsman.
Guest
(Expert) 29 April 2011
Have you given any standing instruction to the bank to credit all the credits appearing in your credit card to be transferred in to your SB account as and when the any credit apprars in your credit card account?
V GOPALA KRISHNA
(Querist) 29 April 2011
Thanks for the kind response from Members.
Yes Sir, I have given my mandate/standing instructions twice to the Bank through e-mails,during the course of correspondence with the bank on the above subject. But the Bank is not relenting. Through phone they are communicating me that my standing instructions, in this regard, are not acceptable to them. Now my grievence reprensentation is at the level of Nodal Officer, HDFC Bank, Bombay (I think level 3- final level?)I am not expecting any change in their (Bank's) attitude from this practicing of unfair trade practice and deficient in service by the Bank. Whether my representation to the Banking Ombudsman can cure this disease?.
Thanking You. V.Gopala Krishna,Sr.citizen,Hyderaba.
Guest
(Expert) 29 April 2011
Now finally you can better drag the bank in consumer forum for lack in its service.
V GOPALA KRISHNA
(Querist) 29 April 2011
Just now I received a communication from Senior Management, Credit Card Redressal, HDFC Bank, the portion of which is reproduced below:
"Further, we have also taken a note of your feedback expressed with regard to the automatic transfer of such merchant credits to your bank account. We assure you that the same has been shared with the concerned as appropriate."
Since my representaion to the Bank has
ignited a positive thinking from HDFC Bank side, I shall be watching their future performance in this regard.
I thank the respected memebers of Lawersclub for sharing their views. Thank you. V.Gopala krishna, Hyderabad.
malipeddi jaggarao
(Expert) 30 April 2011
Still I doubt that they will resolve issue. Better you keep the copy of correspondence and also send a registered letter with ack.due stating that you have represented this matter on so...n...so..specific dates and finally the Bank has agreed to execute the standing instructions for transferring the credit amounts of your credit card to your SB account as and when such credit is received. In case if the Bank does not execute standing instructions, better you try legal recourse against the Bank either through consumer forum or filing suit against the Bank. Complaint to Ombudsman may not yield required results.
RAJU O.F.,
(Expert) 30 April 2011
Since the debits to merchant establishments, originated from your credit card account, the bank would be justified by their crediting the refunds, to the same credit card account.Eg., if railway tickets booked under credit card and later if the ticket is cancelled, the refunded amount will be credited to the same credit a/c which will be reflected in subsequent card statements.
