Balance Transfer Problem

SBI one of the largest issuer of credit cards in India hasv ery poor customer service and twists case according to its convenience. One of the readers of our blog has his story to tell here,

In the 3rd week of Jan I requested for a balance transfer of Rs.8400/- for my HDFC credit card. As per your services (also confirmed by your executive during applying for BT) that if I am unable to receive the BT cheque/draft then SBI will deposit it to the relevant bank. I was surprised to get a call from HDFC of non-payment of amount and subsequently I was charged late fee plus interest (attached the statement snapshot for reference).When I called SBI customer care services, I was puzzled when the lady executive said that they don’t have any information regarding my BT cheque and no information is reflecting on the system also.

The lady then told me that IT WAS SBI FAULT AND AS PER THE RULES ALL THE CHARGES WILL BE REVERTED BACK TO ME and also the BT IS CANCELLED. BUT, suddenly I came to know that HDFC have received the cheque very-very late and they cleared it on 12th Feb’08.

Mental harassment caused by SBIAfter taking too much pain in contacting SBI telephonic IVR – CC (problem mention in point 1) I said that THIS IS MY LAST CALL AND TILL MY CONCERN IS NOT CLEARED I AM HOLDING ALL MY PAYMENTS TO SBI.

After couple of days I got call from SBI recovery cell for payment of minimum amount (that include the BT for HDFC). As it was my responsibility to pay the minimum amount and feeling that the excess amount will be reverted back to me once the issue gets cleared I agreed to pay the amount. I don’t know how SBI didn’t got my cheque so they kept following me and the mental harassment was too much to handle so I gave once more cheque for the minimum amount. And finally both the cheques got cleared.

Kindly beware when you ask for Balance Transfer because our banking system si in such a mess w.r.t credit cards you never know what has happened. Best thing is continue to make atleast minimum payments so that you are not a defaulter.

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