What will happen to no cost emi when fk cancel order and refund amount?
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What will happen to no cost emi when fk cancel order and refund amount?
Today fk cancelled my washing machine order. Last week itself emi created by axis bank and charged processing fee. Now what will happen.? Will they automatically cancel emi? What will happen to processing fee?
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You will definitely get it back if yours is a credit card and you raise the issue to nodal or ask for card closure.
Emi wont get cancelled... You have to call customer care and tell them that order is cancelled and FK has refunded..
Have had this issue couple of times
If refund amount credited then also will they continue emi and transfer excess amount to account?
will they cancel emi processing fees as most banks charge these days?
In older days EMI orders cancellation was a mess.
Now it's very streamlined. Your EMI will be cancelled without any issue. Dont worry.
In case if it isn't cancelled, call your bank and ask them to.
If icici, 100% auto cancellation of emi on transaction reversal, processing fee including.
If HDFC, you should be watchful, because sometimes auto cancellation sometimes we have to ask customer care with a shooting question why this EMI existing when the transaction has been reversed by the merchant, then only they will come to task.
If BoB, we have to communicate with bank customer care, entirely clumsy.
If citi and Axis, auto cancel.
Mine is axis emi.
Problem is fk processed refund in 2 parts. So i am waiting for transaction to settle. Don't know how axis going to treat 2 refunds for single transaction.
To @Saadhav any idea ?
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