ICICI crediting credit card refunds to savings account
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Never came across any such rules. Anyone aware or had similar experience?
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50% cashback upto 200 CB Using apay ICICI cardy wala offer hoga but maine bhi tumhari comments k baad try kiya mera ko to nhi mila CB.
It shouldn't consider the spend even for milestones or fee waiver, since it is just a refund
S ..same with me..
The Reserve Bank of India (RBI) amended the "Master Direction - Credit Card and Debit Card – Issuance and Conduct Directions, 2022" on March 07, 2024. When you get a credit card refund after you pay your credit card bill for the month, you will have options to either adjust it or get it in your bank account.
This applies to credit cards of all banks, ICICI seems to be the pioneer in implementing it.
Read this Economic Times article to know more.
But it has come even before statement was made
How come ?? this money belong to credit / loan from credit card, its not logical hmmmm if this is allowed then everyone will just order and cancel and then credit card amount will be sent to bank account as refund, and 45 days free credit hot cash lol is this really okay???
Not for me. Received refund directly in visa cc from amazon on 24 April.
welcome to refund processing charges soon!
What if I don't have any savings account?
This rule doesn't make sense. Can anyone give a logic behind this rule?
People are gonna misuse it a lot.
Be Careful Guys.Bank will consider this refund as your income
Ab iske liye icici account kholna pdega
Trick to mast hai
To kya hame cancel cancel khelna hai?
I asked the cc executive that i can then cancel high Value orders and get money in my savings bank account and he said yes sir, you can do that..
Yup, my all UPI link RuPay Credit card refunds credit to my ICICI saving account.
Direct method of credit card to bank transfer.
Calling @abhishek012 for testing and making it popular.
But there is a catch, they first credit to cc, reverse rewards/cashback and then send to bank
i got 200 cashback in amazonpay on adding 400 from icici amazon card.