I own a citibank first citizens credit card. In the month of june, I received a call from citibank insurance representative saying that I should subscribe for an insurance policy. Even after me declining the offer, he kept calling me. In the end I said I will only subscribe to it when i go through the policy. He informed me it will be dispatched immediately. Let me also inform you, not once did the representative inform me that there will be a debit of RS 10,000 from my credit card.
Few days later, I received a call from citibank official informing me that they are going to dispatch the manuscript, and that if I revert back to them with cancellation within 45 days, the money debited from my credit card will be credited back to me. I cancelled the policy immediately DURING THAT PHONECALL, it was not even dispatched yet.
Then I called citibank complaining about this issue, they assured me they will credit entire amount back to me. I kept calling them back, they kept me on hold and disconnected the calls every time I called. After few days, they informed me that the entire amount will not be credited back to me. I even spoke to the supervisor . she said they have recorded conversations and that I have given my consent for the same. I asked her to mail me the recorded conversations, but its been a month since and I have not received any reply from her.
I escalated the issue to the nodal officer..and then finally after fruitless wait of four months, i decided to take it up legally with the RBI, it was only after i placed my complaint with RBI everything was reversed back to me, including the interest charged for the entire amount tht i had to pay for last 4 months.
According to the banking instructions of RBI
Banks are required to take steps to ensure that customers are made aware of the service charges upfront and changes in the service charges are implemented only with prior notice to the customers. Banks are also required to have a robust grievance redressal structure and processes, to ensure prompt in-house redressal of all their customer complaints. Further, full-fledged information on bank products and their implications should be disclosed to the customers, so that the customers can make an informed judgment about their choice of products.
so if u facing same problem and no one listenining to u..
fill an online complaint form...at RBI.ORG.IN
It works with these ppl...dont forget to inform them beforehand tht u gonna take it up legally..that will help i tell u..
|Author: Selva Kumar 25 Aug 2009||Member Level: Silver Points : 0|
|My best advice is not to keep any credit cards. It always leads to problem.|
|Author: Ramachandran Pattabiraman 26 Aug 2009||Member Level: Gold Points : 2|
From your experience one should know that 'accepting the offers coming through phone calls'SHOULD NOT DONE EVEN THOUGH IT FOUND GENUINE.if they insist overphone ask them to come in person and explain with papers - dont give your address also let them know that also from the way they know your phone number. I am receiving many calls like this. These people are,I think, just agents who forward the papers to the bankers and in such a cases, it is highly difficult to contact the bankers also.
|Author: tinku 26 Aug 2009||Member Level: Silver Points : 2|
|Thank you vinay for providing such great information|
this information will help many credit card holders
now a days credit card holders are having their credit cards
when they recieve one call from bank and after that
they are facing the problems. your experience with citybank
will give answer to decide about credit cards for credit card
your experience not only make them think but also all credit
card holders will think twice for going any risk.even some banks credit cards may be helpful but all banks
are not good. this was proved with your experience
you feel that your experience should not happen to anybody
so you feel your responsibility and you posted your experience
thank you once again for giving your valuable suggestion.