Which banks cc consider refund as payment?

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prince555

Which banks cc consider refund as payment?
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Deal Cadet Deal Cadet
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Deal Newbie Deal Newbie
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No

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Like Magnet Like Magnet
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Yes bank, i just got refund this month and it didn't allow to pay saying bill is already paid.

Deal Newbie Deal Newbie
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But some bank doesn't consider this like hdfc

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Benevolent Benevolent
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The new T&C of ICICI clears state that refunds received within due date would be adjusted against dues and if dues have already been cleared then the refund would be sent to savings account.  

Deal Newbie Deal Newbie
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ok. but icici not following this process
Deal Cadet Deal Cadet
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https://www.rbi.org.in/scripts/FS_Notification.aspx?Id=12300&fn=2&Mode=0
Scroll down to point (e) under "10. Billing" which clearly states -
"Any credit amount arising out of refund/failed/reversed transactions or similar transactions before the due date of payment for which payment has not been made by the cardholder, shall be immediately adjusted against the ‘payment due’ and notified to the cardholder."

So RBI has clearly instructed the banks to consider refunds as payments, though I agree that not all banks might be following but that's okay since even if something goes wrong, you have RBI in your corner. I forced SBI to refund the bullshit charges in Dec last year after complaining to RBI.

Deal Cadet Deal Cadet
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ICICI earlier didn't consider this, but now adjusts refund in Outstanding Bill amount 

Deal Cadet Deal Cadet
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Scapia/federal

Deal Subedar Deal Subedar
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HDFC did not adjust the statement due for a refund txn from Amazon

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