Wrong Late Payment Charges by Onecard

[simplewarrior]

Hi XXXXX,



Greetings from OneCard!



We sincerely apologize for any inconvenience you may have experienced, and we truly understand your concern. Your satisfaction is of utmost importance to us, and we are committed to addressing your issue promptly.

We understand your concern regarding the interest that has been charged to your OneCard account. We tried calling you however we were unable to connect.

We would like to inform you that we don't charge any interest in case the total due amount is paid in full within the due date for any transaction. However, 3.49% + GST interest is applicable only when there is any due amount for a billing cycle.

In case of late payment, the charges (LPC) will be 2.5% + GST of the total amount due (Max. Rs. 1180). In case the Minimum Amount Due is paid there won't be any LPC levied however, post-due date there will be an interest fee applicable to the remaining payable amount.

Please note that the interest is applied from the first transaction date of the statement, also please remember that this facility of an interest-free period will not be available to you if you have not paid the previous month’s outstanding amount in entirety.

After careful consideration of your request, we regret to inform you that as per the Terms and Conditions governing our services, we do not have a provision to provide a complete waiver for the interest charges that have been levied on your account.

However, recognizing the importance of your relationship with us, we are pleased to extend a one-time exception and goodwill gesture. We are prepared to waive off up to the late payment charges of INR 1416 that have been applied to your account.



We request you to please confirm the same, so we can proceed further for the waiver.

We would like to mention that the system calculates the interest on a daily basis. We understand that you paid the billed amount before the due date. We would like to inform you that the accrued interest is charged to you from the date the bill is generated, till the date of your repayment which will not be mentioned in your statement as it is charged after the bill generation.

Please follow the below path to find the accrued interest in the app.

1. On the home screen, click on ‘View bills’.

2. At the payment details option click on ‘Details’ to view complete details about how the current outstanding is calculated and pay for the same to avoid any further additional charge to your account.


Please visit the below-mentioned link to know more about OneCard T&Cs. https://getonecard.app/legal/mitc/


We appreciate your understanding in this matter. Feel free to reach out to us in case of any queries.

Thanks & Regards
Grievances Redressal Team
Team One Card

So Onecard charged me Rs 1416 for late payment charges. What happened was, my due date was 9th Dec, I paid using Paytm on 9th and it showed credit in onecard but was in processing status on 9th. The transaction got settled in 3 days with the payment receipt date of 9th only. On 13th I was charged Late fee.

On asking for reason of late fee they sent me this mail, where they do not admit that they wrongly charged the late fee and instead tells me that they are refunding as gesture of goodwill.

I am still in process of recovering Late fees from them and hoping that they did not marked as default in CIBIL

 

[Deleted member 21942]

There is a difference between a transaction credit date and a transaction realization date. Transaction realization date is the date when your transaction gets settled with the respective bank. Many banks consider the transaction settled date as the date of actual payment even though the date of payment is much earlier. Even ICICI considers realization date as the actual date of payment and I had experienced this once when I had paid my ICICI credit card bill through HDFC BillPay portal. So to be on a safer side, try to pay your credit card dues before 4-5 days of the due date so that the payment transaction settles before your due date of payment.

 

[simplewarrior]

There is a difference between a transaction credit date and a transaction realization date. Transaction realization date is the date when your transaction gets settled with the respective bank. Many banks consider the transaction settled date as the date of actual payment even though the date of payment is much earlier. Even ICICI considers realization date as the actual date of payment and I had experienced this once when I had paid my ICICI credit card bill through HDFC BillPay portal. So to be on a safer side, try to pay your credit card dues before 4-5 days of the due date so that the payment transaction settles before your due date of payment.

But can they charge late fee when RBI says we have 3 grace days from the due date

 

[Deleted member 21942]

But can they charge late fee when RBI says we have 3 grace days from the due date

Some banks follow this grace period rule and some don't. Banks already gives us 45-50 days of interest free period then why to bother about this 3 days of grace period?

 

[simplewarrior]

Some banks follow this grace period rule and some don't. Banks already gives us 45-50 days of interest free period then why to bother about this 3 days of grace period?

This is not a option for banks, it is a mandatory circular. Regarding the choice of 3 extra days it exists solely for this reason only, if someone forgets to pay by due date then he can pay in grace days. In my case I paid on due date only and still was charged.

 

[Deleted member 21942]

This is not a option for banks, it is a mandatory circular. Regarding the choice of 3 extra days it exists solely for this reason only, if someone forgets to pay by due date then he can pay in grace days. In my case I paid on due date only and still was charged.

If you want to pay at the very last moment of your due date then you should pay directly via respective bank's app/website. This way your payment will settle instantly. Now the rest is upto you to fight with banks and satisfy your ego for the 3 days grace period rule.

 

[simplewarrior]

If you want to pay at the very last moment of your due date then you should pay directly via respective bank's app/website. This way your payment will settle instantly. Now the rest is upto you to fight with banks and satisfy your ego for the 3 days grace period rule.

Again I am saying the 3 days period is there if someone forgets to pay their due by due date. In my case payment made on 9th, got settled on 3rd day. But if you think this my ego, there is no point of discussion since you are not properly reading my text.

 

[Deleted member 21942]

since you are not properly reading my text.

It can be vice versa too.

 

[varun__goel_]

So Onecard charged me Rs 1416 for late payment charges. What happened was, my due date was 9th Dec, I paid using Paytm on 9th and it showed credit in onecard but was in processing status on 9th. The transaction got settled in 3 days with the payment receipt date of 9th only. On 13th I was charged Late fee.

On asking for reason of late fee they sent me this mail, where they do not admit that they wrongly charged the late fee and instead tells me that they are refunding as gesture of goodwill.

I am still in process of recovering Late fees from them and hoping that they did not marked as default in CIBIL

Most probably won't be reported. Even if it does complain with your bank statements, and if no resolution just go to RBI. Why doing fight fight🙂, have a good night ...🤣😆

 

[ray8285]

Some banks follow this grace period rule and some don't. Banks already gives us 45-50 days of interest free period then why to bother about this 3 days of grace period?

Does NOT matter & rules are rules.. When RBI says 3 days of grace, then every bank needs to follow that irrespective of how many days of interest free period they give !! None of them are above RBI & I made SBI CARD apologise to me for just not following this rule..

The only mistake OP might have made, was paying their dues using a third party app, but still One Card had 3 days to settle the payment, as OP made the payment on the due date itself, enough with the banks & their high handedness ! The OP is NOt in the wrong here but One card is, if he did indeed make the payment on the due date itself !

 

[ray8285]

Again I am saying the 3 days period is there if someone forgets to pay their due by due date. In my case payment made on 9th, got settled on 3rd day. But if you think this my ego, there is no point of discussion since you are not properly reading my text.

I'm absolutely with you on this. Whether someone forgets or not, as long as the payment reaches the CC issuer within that 3 days of grace after the payment due date that RBI allows they cannot do any thing. If One card has charged a late fee, immediately drop an email stating clearly that they are in the wrong & ask to reverse the late fee. Do check when is the transaction reflecting on your One card app.

If you want I can DM you the RBI circular pertaining to this order. Drop an email to 1Card & ask them not only to reverse the late fee but also to make sure that nothing negative is reported to any of the bureaus.

If they do not comply, tell them that after 30 days from your first email (As RBI guidelines) you will raise this to the ombudsman. DO NOT FORGET TO CC the emails to your ONE CARD issuer (BOB/SBM/FEDERAL/CSB) as they are the one who has issued you card. Also, if you have to lodge a complain to the RBI then it will be against your issuer bank, as ONE card is NO one (just a tech company).

 

[ray8285]

Most probably won't be reported. Even if it does complain with your bank statements, and if no resolution just go to RBI. Why doing fight fight🙂, have a good night ...🤣😆

Normally when you're charged a late payment fee it is at the banks discretion & in likelihood gets reported as a late payment ! However, One card is at the wrong here & NOT @simplewarrior ..

 

[RAMESH BABU N]

Again I am saying the 3 days period is there if someone forgets to pay their due by due date. In my case payment made on 9th, got settled on 3rd day. But if you think this my ego, there is no point of discussion since you are not properly reading my text.

Unless n until we read the said circular correctly, we might be having our own versions of it's content.

Share the circular if you have it.

 

[RAMESH BABU N]

I'm absolutely with you on this. Whether someone forgets or not, as long as the payment reaches the CC issuer within that 3 days of grace after the payment due date that RBI allows they cannot do any thing. If One card has charged a late fee, immediately drop an email stating clearly that they are in the wrong & ask to reverse the late fee. Do check when is the transaction reflecting on your One card app.

If you want I can DM you the RBI circular pertaining to this order. Drop an email to 1Card & ask them not only to reverse the late fee but also to make sure that nothing negative is reported to any of the bureaus.

If they do not comply, tell them that after 30 days from your first email (As RBI guidelines) you will raise this to the ombudsman. DO NOT FORGET TO CC the emails to your ONE CARD issuer (BOB/SBM/FEDERAL/CSB) as they are the one who has issued you card. Also, if you have to lodge a complain to the RBI then it will be against your issuer bank, as ONE card is NO one (just a tech company).

Can you DM the circular to me please ?

 

[Deleted member 21942]

Does NOT matter & rules are rules.. When RBI says 3 days of grace, then every bank needs to follow that irrespective of how many days of interest free period they give !! None of them are above RBI & I made SBI CARD apologise to me for just not following this rule..

The only mistake OP might have made, was paying their dues using a third party app, but still One Card had 3 days to settle the payment, as OP made the payment on the due date itself, enough with the banks & their high handedness ! The OP is NOt in the wrong here but One card is, if he did indeed make the payment on the due date itself !

 

[TheTrickySid]

Unless n until we read the said circular correctly, we might be having our own versions of it's content.

Share the circular if you have it.

Reserve Bank of India - Master Directions

Point 9(v)

 

[RAMESH BABU N]

Reserve Bank of India - Master Directions

Point 9(v)

1Card had erred in this specific case - in violation of 9(v) of the above RBI operative Directives.

 

[s1t2y3a3m6]

So Onecard charged me Rs 1416 for late payment charges. What happened was, my due date was 9th Dec, I paid using Paytm on 9th and it showed credit in onecard but was in processing status on 9th. The transaction got settled in 3 days with the payment receipt date of 9th only. On 13th I was charged Late fee.

On asking for reason of late fee they sent me this mail, where they do not admit that they wrongly charged the late fee and instead tells me that they are refunding as gesture of goodwill.

I am still in process of recovering Late fees from them and hoping that they did not marked as default in CIBIL

Open one card app, if your settlement date showing 9th then simply filed a complaint on RBI ombudsman with all proofs. According to RBI if you paid bill on 9th then it would consider you paid on/before due date even if there processing time of 3 working days.

 

[simplewarrior]

Open one card app, if your settlement date showing 9th then simply filed a complaint on RBI ombudsman with all proofs. According to RBI if you paid bill on 9th then it would consider you paid on/before due date even if there processing time of 3 working days.

I probably will not have to go to RBI, as you can see from above mail that I received, they are ready for reversing charges. Nowhere they have mentioned in the mail that I paid after the due date and that is why the late fees were charged.

This post was meant to show how Onecard is charging wrong late fees charges and when you confront them, how they react to it.

 

[praful47]

So Onecard charged me Rs 1416 for late payment charges. What happened was, my due date was 9th Dec, I paid using Paytm on 9th and it showed credit in onecard but was in processing status on 9th. The transaction got settled in 3 days with the payment receipt date of 9th only. On 13th I was charged Late fee.

On asking for reason of late fee they sent me this mail, where they do not admit that they wrongly charged the late fee and instead tells me that they are refunding as gesture of goodwill.

I am still in process of recovering Late fees from them and hoping that they did not marked as default in CIBIL

To be on safer side , it is best to pay on one card app only