Amazon pay ICICI card - markup fee levied on refunded txns
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Need help. I made USD txn worth 1700$.. Apay card levied mark up fees and gst.. This is expected..
But unfortunately I had to cancel the txn.. Money refunded but ICICI charged again markup fees and gst... Pathetic..
Anyone experienced this? What to do to reverse those charges..
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If U Paid Via Paypal, They Will Be Helpful In Issuing The Difference Amount For Refunds By Showing Proof Of Bank Statement Debit And Credit... 1 Time I Faced With This Problem And Got a Difference Amount.
i always use hdfc cc or sbi cc, they will refund u the mark fee plus gst
but axis, icici and some other cards wont refund those charges
Can't do much about it. Even if you call cc or ask RM they'll say they're hopeless. But push RM once more.
No luck.. Seems I used most worst card for forex txns.. Big lesson..
well i forgot and used icici card this month, on doing a 2.8lack transcation. i lost 9k markups fess
then i got the refund and they eat another 8.5k markup fess. icici bank is looting lmao. this is day light robbery by this bank
none of the other banks loots like this. giving loans to corporations and looting from middle class
Does anyone know about IDFC and AU Bank? Do they reverse markup on refunds?
I had one INR foreign transaction with AU Bank and they had refunded forex in that case on reversal. But not sure if it works with foreign currency also.
Previously, I have seen sbi doesn't refund. Hdfc does refund, but don't want to use that right now. ICICI is obviously worst, as it will charge extra on refund 🤦♂️.
I need to do a foreign transaction temporarily and will be cancelling it after 2 months. So, I will use the card which has least risk.
Just to update on this, did some experiments with small refundable transactions.
Yes Bank, HDFC and AU Bank reverse markup+gst on refunds. SBI and IDFC doesn't reverse, but no extra charges on refund.
Interestingly, in one case, conversion rate changed in my favor, so after refund and forex reversal, I was in net profit for that transaction 😅.
This is Normal (Forex fee for refunds + Current exchange rate). You should've gone with cards with zero/low markup fee