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Saturday, October 31, 2009

Case Study (Kotak Credit Cards) - Cheque Encashed but Payment not Received

Customer Says:

I have issued a cheque # 123456 (SBI, HPS Branch) for Rs 297.90 as payment towards my credit card dt 06/10/2009 & dropped it in Kotak ATM located at Begumpet, Hyderabad on 06/10/2009. However, I received a call from Kotak Cards call centre that the payment is outstanding. The debit of the referred cheque from my SBI account updated. I request you to kindly sort out the issue at the earliest

Ask.Pranav Says:

This is a very simple issue for resolution. You need to proceed as follows.

(1) Call the Kotak Contact Centre and fax them a copy of your Bank Statement which clear reflects the Charge Debit and Chequ Number. Also check that you had written the Card Number correctly
(2) They will have to reverse out all charges (Late payment as well as Interest)
(3) If they refuse write to Nodal Officer and then to Banking Ombudsman and keep all the documentation.

If what you are saying is correct, you have a very strong case and you cannot lose. Do let me know if you need any further clarifications. Feel free to write to me at Ask.Pranav@Gmail.Com
You can find very useful information on Credit Cards on the following Blogsite. Do go through and let me know your comments.

http://www.simplybank.blogspot.com/

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