Originally Posted by mirat_0490

Milind A. Tawde,
S.B. Acc. No. 001101033535,
Platinum Card No. *************** 7003,
A/101, Highway Rose CHS. Ltd.,
Sant Janabai Road, Vile Parle (East),
Mumbai-400057
Date: 22/01/2010.

To,
The Manager,
ICICI Bank,
Vile Parle (East).
Mumbai-400057.

Sub: Reversal of Interest on Credit Card

I, the holder of Savings bank account, Credit cards, Fixed Deposit account, foreign exchange card refilled in dollars, ICICI direct through which I have purchased equity shares and mutual funds, also I am paying bills through net banking module of your site. I had taken housing loans which has been returned with out any penalties, this proves that I am a loyal customer & regular payer of all dues including credit card payment.

Further, I would like to state that I am holding a Platinum credit card no. ************ 7003 which was converted from silver card by your esteemed bank on my track record and capacity. Being a loyal customer, prompt and regular dues payer, it has been a social responsibility from my side to clear any amount which was against my card.. This time when I used the said card for my urgent emergency needs (Angiography and Angioplasty at Kokilaben Hospital) for my mother’s hospitalization , I was sure to pay the amount by the due date. For the same I issued a cheque from my parent bank i.e. Vijaya bank, that too on 28th Dec.09 with the due date as 1st Jan10, but being mismatch of my signature and the parent bank did not have the courtesy to intimate me the same in time, neither had intimation from you through the sms or phone banking facility which you have. Through sms or phone banking facility your products, statements, due dates, promotions, etc are being sent regularly but did not have the courtesy to intimate regarding this issue. I think you waited for the lapse of due date so that you guys can fetch some money from a loyal customer like me. As soon as I came to know from your Thane agency telephonically that they are going to come to collect, the next question I asked him was whether any penalty is going to be levied other than the cheque returns charges he said firmly no not at all, I took his word on face value and issued the cheque to your person immediately in the following morning who collected from my office at Vile Parle east, which you can check with your staff at Thane.

After clearing the dues I get a statement which shocked me out of my life, after having very good experience of core banking facilities, the statement had cheque return charges + service tax which I understood was alright but after issuing a cheque immediately would incur your wrath of levying interest charges after being a non-defaulter all these years. Let me be straight if you guys are going to charge me the penalties other than the cheque return charges I would think over it and need to discontinue the relationship I have with your bank. This is not at all called for otherwise I would have delayed the payment till the end of the month which would have incurred the same levies as starting of the month. I would like to add that if I would have paid a month later then you could have declared me as a defaulter. Basically why this interest thing came in the finantial secter was to deter habitual defalters and earn some money for the finantial instituations.

I am paying the dues through ECS (which I have enrolled for SB Acc. 001101033535) in protest and hope that you will be reversing the interest charges back to my account, which you have levied for paying late by 2 days only.

Thanking you in anticipation,

Milind A. Tawde

Dear Milind,

We apologize for the inconvenience caused to you.
We'll contact you and work to address your issue at the earliest.

Regards,
ICICI Customer Service Team.