How can Payback debit from Saving account.

How can Payback debit from Saving account.

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Payback Redemption charges – 25 + Service tax

Today I am shocked to see that ICICI charged 29.08 from my ICICI savings account for payback redemption. I redeemed 93 Rs worth points in Mobikwik.

Point is I even don’t know that there are charges for payback points redemption. And Second I got these points from multiple sources like Brand factory, Bookmyshow etc. and not directly through ICICI debit or credit card. How ICICI got the right to debit amount for those points redemption.. This is ridiculous.

Any one faced same issue??

24 Comments  |  
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When your payback account is connected to icici or that account is given to you by them, they have full right to charge 25+ rs per redemption and it’s there in thier terms and conditions also. it’s not about facing an issue, it’s in terms and conditions. its there points reedeption charges.

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Then it is better to have payback card non linked to icici account.

I redeemed many times on mobikwik, but never any such charge as it is not linked to any bank account.

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@VaibhavJain wrote:

When your payback account is connected to icici or that account is given to you by them, they have full right to charge 25+ rs per redemption and it’s there in thier terms and conditions also. it’s not about facing an issue, it’s in terms and conditions. its there points reedeption charges.


No.. charges were not there earlier and even didnt get any notification.. If payback is not linke then how will they debit?

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@deepak.k wrote:

Then it is better to have payback card non linked to icici account.

I redeemed many times on mobikwik, but never any such charge as it is not linked to any bank account.


Exactly.. they shouldn’t deduct money because of bank account link..

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@ENGINEER wrote:

@VaibhavJain wrote:

When your payback account is connected to icici or that account is given to you by them, they have full right to charge 25+ rs per redemption and it’s there in thier terms and conditions also. it’s not about facing an issue, it’s in terms and conditions. its there points reedeption charges.


No.. charges were not there earlier and even didnt get any notification.. If payback is not linke then how will they debit?


if payback isn’t linked with your icici bank account then they will not debit. if it’s linked and you want reedem the points they will debit. as simple as that.

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@VaibhavJain wrote:

@ENGINEER wrote:

@VaibhavJain wrote:

When your payback account is connected to icici or that account is given to you by them, they have full right to charge 25+ rs per redemption and it’s there in thier terms and conditions also. it’s not about facing an issue, it’s in terms and conditions. its there points reedeption charges.


No.. charges were not there earlier and even didnt get any notification.. If payback is not linke then how will they debit?


if payback isn’t linked with your icici bank account then they will not debit. if it’s linked and you want reedem the points they will debit. as simple as that.

No.. charges were not there earlier and even didnt get any notification.. If payback is not linke then how will they debit?
if payback isn’t linked with your icici bank account then they will not debit. if it’s linked and you want reedem the points they will debit. as simple as that.
I understood the logic, but dont you feel it is unfair?

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Dont you think it is unfair?

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Deal Subedar
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ICICI Bank itself is very very UNFAIR bank.

They charges for each and everything, really WORST in this aspect.
You can compare with other bank charges for the banking activities. It’s really pathetic in sucking customers blood for each and every thing and * Did you see any time ICICI giving any cash back (like 10% or 15%) on any occasion in any Online site, we won’t *

In future, the may charges for these things as well https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif
- For checking balance using Net Banking
- When visiting ICICI ATM itself
- When you received the msg from ICICI (includes OTP).
etc. Beware.

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@VaibhavJain
@DealSeeker

what if bank acct is not linked but icici credit card is linked. then also will i be charged?

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@srigem81 wrote:

* Did you see any time ICICI giving any cash back (like 10% or 15%) on any occasion in any Online site, we won’t *


Update yourself, the forum will surely help.

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@rajrocks wrote:

@VaibhavJain
@DealSeeker

what if bank acct is not linked but icici credit card is linked. then also will i be charged?


maybe yes, you need to check your credit statement as i am not sure about this.

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@rajrocks wrote:

@VaibhavJain
@DealSeeker

what if bank acct is not linked but icici credit card is linked. then also will i be charged?


This is old news, bro. If you earn Payback points via an ICICI DC/CC linked to that Payback account, then they do deduct 25 + ST for every time you withdraw points.

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@VaibhavJain wrote:

@rajrocks wrote:

@VaibhavJain
@DealSeeker

what if bank acct is not linked but icici credit card is linked. then also will i be charged?


maybe yes, you need to check your credit statement as i am not sure about this.


im asking coz then i will delink my savings acct and keep only credit card linked.

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@DealSeeker wrote:

@rajrocks wrote:

@VaibhavJain
@DealSeeker

what if bank acct is not linked but icici credit card is linked. then also will i be charged?


This is old news, bro. If you earn Payback points via an ICICI DC/CC linked to that Payback account, then they do deduct 25 + ST for every time you withdraw points.


then in this case best is redeem when they are abt to expire or any great offers are there.

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@rajrocks wrote:

@VaibhavJain wrote:

@rajrocks wrote:

@VaibhavJain
@DealSeeker

what if bank acct is not linked but icici credit card is linked. then also will i be charged?


maybe yes, you need to check your credit statement as i am not sure about this.


im asking coz then i will delink my savings acct and keep only credit card linked.


Applies to credit card as well.

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Deal Subedar
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Payback is owned by ICICI or has partnered up with them.

This has been present in their T&C since 1-2 years,before that there was no redemption fee.

But if you dont link your ICICI account with payback,you wont receive points for ICICI card transactions.

You will receive points only for transactions at payback partners,earlier you received points for every transaction in icici

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Deal Subedar
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Didn’t get you Friend.. What forum helps me on what ?
I mean to say it’s very rare and rare icici giving such discounts.

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@rajrocks wrote:

@VaibhavJain
@DealSeeker

what if bank acct is not linked but icici credit card is linked. then also will i be charged?


Of course yes . My credit card got charged 4 times (100 +Rs) for redeeming small amount of payback points. I was shocked.
So, it is better to redeem more points at one go to avoid these stupid charges . don’t think about redeeming 100 or 200 points.
ICICI never leaves any opportunity to charge customer .
There is no option to avoid these charges .

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Deal Subedar
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Yes, same thing I’m saying https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif
icici won’t leave even 0.000000000000000001% opportunity from normal customers.
But, in case of vips/others black money u know it well https://cdn2.desidime.com/assets/textile-editor/icon_wink.gif

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iMint was a venture owned by ICICI Bank. iMint was sold to Payback. Now Payback itself has become a subsidiary of Amex. Any Payback account linked to either ICICI Savings or CC account is charged 25+tax per redemption. However, the charge is effectively neutralised if the benefits of such linking are utilised wisely. ICICI Savings account gives 10 payback points per RD auto-debit every month. I have set up 5 RD (of Rs.1000 each). Get 600 payback points per year (10×5×12) from these alone which works out to Rs.150. ICICI also gives points for payment to VISA cards from that account. Use the facility for payment of my credit card bill. I normally redeem only after accumulating 2000 or more points and when special offers are there, like the recent offer at Central, about 2-3 times a year. So the total redemption cost is less than Rs.100 and the redemption costs charged to my account are more than recovered from the extra credits got from that account only.

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Forgot to Update.. Icici reversed my charges for this transaction.. I mentioned that I don’t know about these charges.. So probably considered for reversal once

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@rajrocks wrote:


im asking coz then i will delink my savings acct and keep only credit card linked.

Just searching this and got your post,
How to link my existing payback card with icici saving account ?
Cc: @VaibhavJain @disclaimer

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@Tejaa wrote:

@rajrocks wrote:


im asking coz then i will delink my savings acct and keep only credit card linked.

Just searching this and got your post,
How to link my existing payback card with icici saving account ?
Cc: @VaibhavJain @disclaimer


internet banking

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