August 2007 credit card statement was not received. Based on spent estimate, Rs.34,000/- was paid as exact outstanding information was not sent by the bank throught the monthly statement. It is a regular feature for not getting the monthly statement and any number of calls made to call centres has a stock reply that within the next four working days, the statement will be sent. It has become wastage of a customer's time by calling the call centres on a repeated basis and no worthwhile result is coming out. To my surprise, on going through the Sep 2007 E- statement, finance charges of Rs.886.37 plus service tax of Rs.109.56, totalling Rs.995.93 has been charged for an amount balance remaining of Rs.1439.98.
If the Aug statement had been received, 100 % of the outstanding would have been paid as can be seen from the past payment practice. In trying to call up the senior people, not one is responding and declaring for himself/herself as not responsible for answering.The call centre gives standard answers and no managerial decision is taken. The customers are made to suffer for the banks own fault. Where on earth is a system that charges Rs.995.93 as finance charges for RS.1439.98 kept pending beyond due date which is 69.16 % interest for one month or 829.95% per annum. The bank is advised to withdraw the unreasonable finance charges levied which is totally due to insufficient information from the bank in not sending the monthly statement.