Keep up the good fight!
May also be worth pinning a link to this from the icici cards section.
May also be worth pinning a link to this from the icici cards section.
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ICICI Bank charged me annual fees on my credit card even after meeting reversal criteria
- Thread starter TechnoFino
- Start date
I waited so long for an update on this!!Update:
Today, I filed a case against ICICI Bank at my district consumer court. I have submitted all the PDF copy of all email communications, the old MITC of ICICI Emeralde credit card, and the new MITC of ICICI Bank credit cards (where they have removed the term "subsequent year") dated 2nd November 2023, via an advocate. I have claimed almost 2 Lakhs as compensation and fees reversal.
One interesting thing I noticed is that ICICI Bank literally changed their MITC terms for 3 credit cards (Emeralde Private Metal, Emeralde Private & Emeralde Card) recently after I escalated this matter to ICICI bank officials and RBI.
New MITC terms:
Old Emeralde Card MITC terms was:
In both cases, they rejected my request. But if they were correct, then why did they change their fees reversal terms on the MITC PDF? Isn't it funny? 😄
I'll keep you guys posted here.
RBL did same, they removed pdf of world Safari card from their website after i complained to rbiUpdate:
Today, I filed a case against ICICI Bank at my district consumer court. I have submitted all the PDF copy of all email communications, the old MITC of ICICI Emeralde credit card, and the new MITC of ICICI Bank credit cards (where they have removed the term "subsequent year") dated 2nd November 2023, via an advocate. I have claimed almost 2 Lakhs as compensation and fees reversal.
One interesting thing I noticed is that ICICI Bank literally changed their MITC terms for 3 credit cards (Emeralde Private Metal, Emeralde Private & Emeralde Card) recently after I escalated this matter to ICICI bank officials and RBI.
New MITC terms:
Old Emeralde Card MITC terms was:
In both cases, they rejected my request. But if they were correct, then why did they change their fees reversal terms on the MITC PDF? Isn't it funny? 😄
I'll keep you guys posted here.
Wow, didn't know we can complain against RBI too🤣.
Think about this. If annual fee is charged in advance for the 2nd year and only reversed on meeting spend criteria at year completion, then at least 1 year annual fees is always in banks custody as they will charge the same fees at start of 3rd year (immediately after 2nd years fee reversal). What a crazy logic and manipulation is that!
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I think what happened was that ICICI changed the MITC but forgot to update the PDF on their website. Now when you have complained about it, they realised and changed that PDF. Without the change in the MITC they wouldn't have changed the IT system to bill you annual fee in the start of the year. I don't think just because they wrongly billed one customer they would go ahead and change MITC for everyone.
In any case you are correct as the MITC at the time of your charge was still the old one, you can get the compensation. Coming to Consumer court most of the times ICICI won't even send their lawyers to fight a case for Rs 12.5k, you will get a favourable resolution in 2-3 years of time. Not sure court will award 2 Lakh penalty to ICICI. But yeah, on your part you can post this on Twitter and other social media platforms to bring awareness.
In any case you are correct as the MITC at the time of your charge was still the old one, you can get the compensation. Coming to Consumer court most of the times ICICI won't even send their lawyers to fight a case for Rs 12.5k, you will get a favourable resolution in 2-3 years of time. Not sure court will award 2 Lakh penalty to ICICI. But yeah, on your part you can post this on Twitter and other social media platforms to bring awareness.
arnalghosh88
TF Premier
I don't understand the logic of Icici bank for joining and annual fees.I thought joining fees are one time fees and 1st yr,2nd yr etc annual fees are different.I got the icici expression cc last yr(2022) oct.They charged me 500+gst on the 1st month statement.Now, in oct 2023 statement, I see 1st year annual fees reversal and then 2nd year annual fees charge.I have spent more than 1.5lakh from 2022 oct to 2023oct.I was never charged 1st year annual fees.I was only charged Joining fees(oct 2022) and 2nd yr annual fees(oct 2023).Then why they reversed 1st yr annual fees?
I have an ongoing dispute with Axis Bank for magnus annual fees. I asked them to close the card once fees were charged but they are asking to pay the full annual fees even to close the card. I escalated to nodal officer and MD desk but no response over 1 month, except automated replies. In the meantime they charged interest on the annual fees inspite of asking to close the card. Axis is doing daylight robbery.
Finally filed a complaint with ombudsman but reading online that Axis bank doesn't even resolve cases filed with ombudsman. There are open cases for 1-2 months. I am worried about the cumulative interest which will keep adding or other option I have to pay the fees and forget to get any money back. Pathetic service from Axis.
Finally filed a complaint with ombudsman but reading online that Axis bank doesn't even resolve cases filed with ombudsman. There are open cases for 1-2 months. I am worried about the cumulative interest which will keep adding or other option I have to pay the fees and forget to get any money back. Pathetic service from Axis.
You should have paid and then fight. First interest and then cibil will be affected. And did you email Axis to cancel or said over call over cs?
I had put an email request. They temporarily cancelled and asked to pay to fully cancel the card. The escalation to nodal officer was open for 1 month and until then they added interest. Cibil is not affected as only small amount was due last time.
I had not paid because I knew after payment they will never even respond, forget refund. I was thinking if I pay the fees then might use for the full year instead of wasting money.
Any chance they will waive off the interest amount now if I clear?
See for My friend who have burgundy, his select cc was charged for 2nd year fees cause he got select first and then 6 month later opened burgundy and didn't paid fees got interest charged after complaining to his rm and to tagging axjs at every social media he could find got refund twice. First through complain and them through rm. In his case he have a existing relationship.
Thanks. I have already complained on email 2 days back about the interest. Will call and escalate. Sadly don't have any relationship with the bank.
ak7550
TF Buzz
I wanna know a few things here:
In such cases, when u r dealing with RBI and consumer court to find justice the credit card bill payment due date has already been gone right.
In such cases, what should we do ? Should we pay the due as per the statement before due date and wait for the bank of understand their fault and refund it back in the statement or we should not pay the unethically charges attached by the bank ?
Any suggestion here, I previous had faced same type of issues. As an owner of a lot of premium cards, I feel like sooner or later I will also face similar issues.
In such cases, when u r dealing with RBI and consumer court to find justice the credit card bill payment due date has already been gone right.
In such cases, what should we do ? Should we pay the due as per the statement before due date and wait for the bank of understand their fault and refund it back in the statement or we should not pay the unethically charges attached by the bank ?
Any suggestion here, I previous had faced same type of issues. As an owner of a lot of premium cards, I feel like sooner or later I will also face similar issues.
Usually it's better to pay then fight. Otherwise even if you win, you'll have to fight another battle to correct the cibil entry.
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