Citibank and HSBC Violate RBI Norms
Citibank and HSBC have violated RBI norms while dealing with Credit Cards in India. The investigative agency of Governmnet of India [MRTPC] has recommended actions against both the banks. We all know that Credit Card companies in India are worse than underworld financing. Here are some of the serious crimes and offences committed by Citibank and HSBC.
- HSBC and Citibank purposely delayed sending Credit Card bills to customers so that he had very little time to come up with the money to pay his bill
- Both the banks purposely delayed collection of cheques made towards cerdit card payments such that they would collect Late Payment Fees from the customer.
- HSBC and Citbank were doing business in India through DSA - Direct Sales Agents. DSAs are known to make empty promises and latter wash off their hands leaving the consumer in dark. This is exactly what has happened with Venkatesh Bhat, one of the guys CardBhai spoke to.
- HSBC and Citibank don't have Toll Free 24/7 Customer Care numbers
- HSBC and Citibank both failed to provide detailed Terms and Conditions documents so that the customer had no proof when he disputed
- HSBC and Citibank both had no provisions of providing Terms and Conditions in local language as necessary by the RBI law.
Tags: India Credit Card, HSBC, Citi, Credit Card Fraud
Labels: HSBC-Citi-India
Published by CardBhai @ 9:17 PM
10 Reader Comments
10 Comments:
IT IS RIGHT CITIBANK IS FRaUD AND THEY ARE CHEATERS
I Have ICICI , HSBC ,SBI ,Standardcharterd, Credit Card But They Charge
Very Very Heavy Intrest ,Serv.Tax,Late Payment Charge,Serv.Tax, Finance Charge,Serv.Tax,this words are used by all above credit card Banks.
If We Spend some Amount & We Pay Regular till
our son,grandson,greatgrand son, but the principal Amount is still at its position.
No One Can Save You If You Have Credit Cards & you are use & spend in india.
They think All Gujaratis Are Stupid & they will pay what we count or our computer can count
All Credit card Companies in Gujarat. Are Cheaters. & So Call Educated Thugs & Gundas.
Very correct. HSBC is a big cheat. Even their Call centre gives wrong feed back and lies to the customer. HSBC should be banned
Am sure each one of you here is aware of "Right to Information", which can be used in case you have doubts about the billing these card companies do. Am sure this should help !!!
i guess RTI act is only applicable to government sector organisations and bodies, not to private sector banking institutions.
I Have ICICI,Citi,SBI,HSBC and ABN Amro cards. The only company who I think sends you statements on time and doesn't F*$# around with customers is ICICI. SBI and ABN Amro are the biggest thugs in the market followed by HSBC and Citi. SBI and ABN Amro sell you insurance from another F@#$all company called ICICI Lombard and they don't send you the papers for about 6 months by the time, you get it cancelled, their vicious interest cysle begins and in the end when you get the insurance cancelled, all that you get is 30 to 35% of the total insurance value reimbursed and your sweet CC company is simply charging you the rest of the amount. These guys should be hung by their genital and stoned to death. Ultimately, the statements cease to come and you are branded as a defaulter in CIBIL and you credit history and worthiness is screwed for life.
i was offered a life time free hsbc credit card.Now i have received an anuual fees of around 2200. i dont know what to do about it. i dont want to pay it. these are bloody cheats mainly hsbc. they make false promises and never deliver. i have decided not to use any credot card in life and am planning to return all of them .
Remember the above If any of you get calls from these credit card companies
I have applied for a card in the month of may but never received it. Now every month HSBC keep sending me statements and i tell them that I dont have the card.I dont even know the number of the card. Now the biggest story...
"according to them they have closed my credit card account...but if i dont pay 4532 then the interest will keep increasing..."
My question is:-
1. How can you charge interest when the instrument is itself not there?
2.When I have not received the card then wkhy the hell should i pay these cheats?
Hi i am also using 8 crdit cards of leading banks wheras i am not finding any difficuties with them as i am aware of what i SPEND.Pls read out the mitc(most imp terms & conditions) sent by the banks so that u will not find such issues.
can any credit card co / bank chase for due after 6 years from the last use of the card, without providing any document detail of the card, balance due,even the expiry date of the card.
--Hadimani
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