File a complaint against delay in credit card closure request

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Last Comment 2022-12-31

2022-12-30

Hi Guyz,

I have raised a request to SBI and ICICI for credit card closure request. It has been more than 15 working days. Still it both cards are not closed.

I read somewhere that if Bank does not close the credit card within 7 working days, then bank will be fined for 500 rs per day.

So guyz, if you have any idea that how can I file the complaint against bank, please give suggestions on this.

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https://www.desidime.com/discussions/file-a-complaint-against-delay-in-credit-card-closure-request?page=1#post_8998688

rahulsoni0706846

2022-12-31

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@getready any info on this??

https://www.desidime.com/discussions/file-a-complaint-against-delay-in-credit-card-closure-request?page=1#post_8998999

getready

2022-12-31

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RBI Ombudsman but for compensation these closure requests got to me made in written form or at least there's should be an acknowledgement for the same (Ticket ID via SMS or Email / the issuer accepting the delay). In the past, certain cc issuers used to temp block the card for a while hoping for the user to change his/her mind and then only proceed with closure

https://www.desidime.com/discussions/file-a-complaint-against-delay-in-credit-card-closure-request?page=1#post_8998730

Jigglypuff

2022-12-31

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https://m.economictimes.com/wealth/spend/new-cr...

"Failure on the part of the card-issuers to complete the process of closure within seven working days shall result in a penalty of Rs 500 per day of delay payable to the customer, till the closure of the account provided there is no outstanding in the account,’ stated the RBI.

https://m.rbi.org.in//scripts/FS_Notification.a...

point 8. Closure of Credit Card

(a) Any request for closure of a credit card shall be honoured within seven working days by the credit card-issuer, subject to payment of all dues by the cardholder. Subsequent to the closure of credit card, the cardholder shall be immediately notified about the closure through email, SMS, etc. Cardholders shall be provided option to submit request for closure of credit card account through multiple channels such as helpline, dedicated e-mail-id, Interactive Voice Response (IVR), prominently visible link on the website, internet banking, mobile-app or any other mode. The card-issuer shall not insist on sending a closure request through post or any other means which may result in the delay of receipt of the request. Failure on the part of the card-issuers to complete the process of closure within seven working days shall result in a penalty of ₹500 per day of delay payable to the customer, till the closure of the account provided there is no outstanding in the account.

(b) If a credit card has not been used for a period of more than one year, the process to close the card shall be initiated after intimating the cardholder. If no reply is received from the cardholder within a period of 30 days, the card account shall be closed by the card-issuer, subject to payment of all dues by the cardholder. The information regarding the closure of card account shall also accordingly be updated with the Credit Information Company/ies within a period of 30 days.

(c) Subsequent to closure of credit card account, any credit balance available in credit card accounts shall be transferred to the cardholder’s bank account. Card-issuers shall obtain the details of the cardholder’s bank account, if the same is not available with them.