Word of Caution - Keep an eye on statements

welcome to the digital jungle . 

i too hardly check statement . pata nehi kitna kha gaye honge

Same happened with me once, I paid 500 towards my HDFC Credit Card through gpay, which showed 3 days after as IMPS Payment, I just checked whether amount is correct or not, after few days when I checked total outstanding was more than my calculations, I then checked that 500 payment was reflecting as Dr instead of Cr. Mailed HDFC and they took 4 days just to rectify and correct this

The fact that in case of credit card, transaction settlement happens after 2-3 days, cross checking instantly is a task in itself. I don't want my mind to occupy things like cross checking return amount but yes, I do check each statement closely upon generation.

Even then, it's quite obvious one can miss out on verifying whether the return amount was successfully credited or not. But in any case, there shouldn't be any misguidance as it was in OP's case, if they're saying return is successful and amount will be credited, it should be credited. I wonder if there's any regulation in place for this from RBI.

Yes you are right, I have gone through similar experiences

Had a similar experience with a botched HDFC credit card bill payment for which I was to receive an amount of 5k+ as refund and I received a sms & email from HDFC that the refund process has been initiated & it would take 2-3 business days to complete. I took it easy and didn't bother to check back again. Paid a few bills, shopped that month & the month after not bothering much about the statements in my email. A couple of months later went through the statements for the past few months and noticed that the refund was never completed. Called the cc who asked me to raise a ticket and follow up via emails. After another 3 days or so received back the refund. Since then have been cautious.

-

I always keep an eye on refunds.

100 INR*120 Days liability enters in this Op's scenario, payable by ICICI/CRED/ EC(whichever applicable)

I note down a refund/ Bill payment entry first in my ledger, after that then hit on Cancel/ Billpay button.

After that those ledger entries are never striked out till the time those got tally with bank statement in writing.

This way at the end of month you will have 1-2 extra entries in your ledger which you are not supposed to get refund. But you won't miss any refund entry at all at any cost/ scenario.

Stuck 2454 rupee in someone account but the phone number is mine i raise complaint but BOB can't listen to me wat should I do 😿

Very valid senario.... Need to track all refunds

Experienced same situation recently when jiomart processed refund but not seen it's credit in upi rupay card. 

After logging complaint to bank, got refund in one day. 

I believe it's predominantly happening when payment done by upi rupay card. 

Remember banks/ online ecom giants know that stats via data mining that very few customers actually follow up on refunds.

So it is actually a money pot of unclaimed / stuck money that nobody claims.

Not only that many online ecom sellrs make sure the ''return to sender'' parcel gets stuck en route so that they delay the refund for as long as possbile & better the customer never follws up & they pocket that money.

So once u make a refund then ask for refund initiation confirmation email SMS & write down the expected refund date on calendr notebook etc to follw up.

Refund wali transaction he nhi krte

Can the guys who faced this issue confirm if the card payment they did was using the RuPay CC on UPI ?

I have a feeling this refund failures is happening only for this new kid on the block.

May I know where did the refund fail? Did it fail at bank end or at the merchant end?

I used to check sometimes but have not checked for a long time either and found 2k refund from a govt job portal missing 😢

Helpline no says can't do anything 

For refunds obviously you have to check. Disputed transactions give me anxiety

Whether or not you have had a refund, it is every CC holder's job to validate every line item on their statement every month before paying the CC bill. If you cannot do that you should not be using a CC.

I had 2 experiences like OP's -

1. A CC payment of over Rs 7k from Mobikwik failed. The refund got stuck in a blackhole. I had to raise a ticket with Mobikwik and follow up for a few weeks to a month to get the money back successfully. The issue was at their end. There is a reason why Mobikwik gets so much hate in DD. They have helped me save thousands but also lost me a few hundreds through bugs and complicated T&Cs.

2. For a particular month, HDFC did not credit points / cashback on 2 of my HDFC CCs. I contacted their CC complaints mailbox and both got taken care of in a few days.

The problem is that with Rupay Credit Card UPI, many transactions gets failed and refunds are a big headache.

i.e., I removed Rupay CC from all apps.

For Chindi points, you cannot risk huge money.

In short, stay away from Rupay CC UPI.

Had similar experience twice.

Once with Cred cc payment

2nd - Ajio refund on my Axis card.

it's a kind of Scam!!! 😲`

Har taraf ghapla hi ghapla!!! 😐

Same happened with me but it was Paytm wallet, did a chargeback and money refunded in next 10 days which was supposed to be refunded few months back