Grievance against STANDARD CHARTERED

I am an old customer of Standard Chartered credit card and would like to

express my concerns and problems I have faced recently due to inappropriate

handling of my credit card related charges which has affected my home loan

processing due to unexpected entry in civil records. I would need your time

and patience to read my email in its entirely and understand the problem.

2 years back I made a payment of approx INR 500.00 through check payment two

days before the payment due date. Standard Chartered Bank delayed in

processing the check and thus the check was realized after the payment due

date. As a consequence of this, next month they charged a whopping amount of

INR 400.00 as the late payment fees. I do not understand what prompted them

to charge late payment when there was no delay from my side. Secondly, with

INR 400 being charged as late payment fees for INR 500, is the bank supposed

to charge 80% per month interest? I had multiple discussions with the

customer care executives but they refused to listen and understand and only

wanted that extra amount to be paid to bank. So it was decided to deactivate

the card. After that I did NOT hear anything from Standard Chartered Bank

either through email, or phone or through letter correspondence.

Now after the span of more than 2 years I applied for home loan and during

that processing I came to know I have a payment due of approx INR 7240 which

came as a surprise for me. Firstly, card was deactivated then how could that

amount be there due on me? Secondly, I did not hear anything from the bank

about this. Thirdly, if by chance I had applied for loan after another 2-3

years, bank would have made INR 1 Lac due on me!!!!!

I called the customer care (Phone banking) and first they asked me to visit

MG Road, Bangalore branch. There I was asked to go to Koramangala, Bangalore

branch. However even Koramangala branch also does not handle credit card

specific grievances but one executive sent an email to customer care to

handle my case. I got the call from customer care and I explained complete

problem and situation to customer care executive. He ensured me that if

there are no transactions from my side, he will reverse the charges and

issue a full and final settlement letter. Meanwhile I also requested for my

contact details and requested for last 26 months email statement. I was told

that it will take 2-3 working days to send the email statement. I called

after 2-3 working days and some other executive told me that it will take

7-10 working days to send the statement. I fail to understand whether all

customer care executives are actually knowledgeable about the processing

time to generate the statement.

After this I got the call from Standard Chartered Banks Recovery department

(Mr. Shyam) for my complaint. The executive admitted that there was delay in

processing from the bank but still the I would need to pay the INR 7240!!!

On explanation he told that you did not do "Closure" of your card but did

just "Deactivated" the card. As a normal middle class customer would I

really need to bother or read banking literature before I put up a request

to customer care executive? Even if there is a difference between these 2

terms, then why was I not getting the statement from the bank? Also it very

ironical that on the one hand bank executive is admitting that there was

delay in processing from bank's side and on the other hand asking customer

to pay for bank's delay. It is clearly evident that an advantage of my

situation is being taken. Bank knows that I will be forced to pay

unnecessarily to get my home loan processed.

The same evening I called up the executive who had contacted me for the

first time and told him about the discussion that happened with recovery

department. He told me that bank would waive off INR 4000 and I would still

be liable to pay INR 3380 approx. Now in any case I felt that I have to be a

victim of someone else's mistake and circumstances, my bad luck and bad

experience with the bank.

Next day I got the call from recovery department and they asked me to pay

INR4500 instead of INR3380. I could not understand that when one executive

had already confirmed for INR3380 then why recovery department is indicating

INR4500. On arguing they agreed for INR 3380 but asked me to pay INR 3500!!!

I could not understand this difference again and then after again arguing it

was agreed for INR3380. It was mutually discussed that I will pay by cash at

my office from your collection executive on production of full and final

settlement from Standard Chartered bank.

Now, is there any body who can answer my questions:-

1. Why the hell was I charged when I made the payment on time and it was a

delay from banks side?

2. What was the rate of interest with which the late fees was charged?

3. If my account was deactivated, why they kept on charging interest on

that?

4. After 2 yrs, when they agree that there were no dues from my side, then

why do I have to make the payment.

I cant see any other reason except taking advantage of the situation of the

customer. Is this a new policy bank has come up to earn money? Is this the

way a multinational company deals with their customers? Is there anyone who

can stop these banks from cheating innocent customers? Is that the only way

left for us to spend our hard earned money? I know the amount is not that

big, but i am highly surprised with the way it has happened.

I request you to look into this matter and take action appropriately. As a

helpless customer with no choice I have no other go except to pay the amount

I am asked for.

Neha