[rajeshchand]

SBI credit card is one of the best when it comes to reviewing terms and conditions, they hardly review it

So i still receive the fuel surcharge waiver and earn points on my each refueling, as usual with any public sector banks it is a pain to get a card from SBI as their response is very poor to applications and they take ages to process them, you generally receive the card once you have forgotten about it.

[binand]

Originally Posted by DigitalOne

What is this Rs.18/- for cash?

For cheque, is it per cheque that banks spend Rs 25-40?

It is likely per transaction. So, each ATM transaction costs the bank Rs. 18, each cheque costs the bank Rs. 25-40 and so on (irrespective of the transaction value). For ATM, it is likely to be comprised of the establishment and operational costs of the ATM (power/cooling/bandwidth, depreciation of the ATM machine itself, rent, cash loading cost, security cost etc.). For cheques, it would include everything from cheque printing to distribution costs, MICR-related costs, equipment depreciation etc.

If I were a bank I would offer NEFT free of cost. But I am not, so I assume HDFC Bank knows something I don't :-) Personally, I skimp on the Rs. 5 NEFT charges and drop cheque leaves wherever possible.

Originally Posted by DigitalOne

@binand; Thanks for an excellent description of the process. One question - does the merchant have to submit the physical slip (merchant copy) to recover his/her amount? I would think no because that would increase his risk (of losing the slip).

If you were a card holder in the late nineties, you would have noticed the manual PoS machine merchants used - where they would use a mechanical device to take an imprint of the card on the charge slip, and then fill in the amount by pen. In those days, merchants had to submit the physical slip for settlement and also had to fill up additional paperwork (hence most merchants then charged extra for accepting cards).

Today, the electronic PoS machine is capable of doing end-of-day settlement with the acquiring bank automatically. The merchant needs to hold the charge slip only to ensure protection against chargeback requests.

Originally Posted by DigitalOne

Second (related ) question: When we go to restaurants, we sometimes add the tip amount to the charge slip, total it up and give it back. How does this charging happen? I haven't seen this approval happening electronically. I have never received an SMS of this deduction ( was the amount too low :-) ??).
Is there scope for cheating by the merchant to add/change digits in the charge slip?

The restaurant MCC is handled slightly differently by Visa/MasterCard. The authorization amount is as per the invoice, but the merchant has a guarantee of settlement (end-of-day settlement, see above) for an amount upto 20% higher than the invoiced amount, depending on acquiring bank. So the "Pending Transactions" in your online statement will include only what the restaurant took authorization for, but the transaction, when posted to your card statement, will contain both the bill amount and the tip you added.

There are other MCCs that require such special-case handling - fuel dispensers, public telephones, vending machines, hotels (the boarding & lodging type), car rentals etc. all are examples of merchants that can authorize one amount but settle for a different amount.

Originally Posted by DigitalOne

And anyway, I think tipping through cards is not a good practice, in my opinion. The waiters in the restaurant do not get an instant gratification of a good tip for a job well done. I try to avoid it but do it only if I don't have the correct change.

I think most restaurants implement tip pooling, either administratively or by honour system, anyway.

[bond_bhai]

Originally Posted by rkg

I too had applied online.

Did it come with an Annual Fees? When i check online, it says Rs. 750 /-

[rkg]

Originally Posted by bond_bhai

Did it come with an Annual Fees? When i check online, it says Rs. 750 /-

First year it is free. There is an annual fee from second year @750/-

[DigitalOne]

Originally Posted by funkyp

Pm me the email/phone no given when applying. I will have it checked

SCB contacted me on Monday and got the documents yesterday. Thanks for your offer.

Originally Posted by binand

Today, the electronic PoS machine is capable of doing end-of-day settlement with the acquiring bank automatically.
======
There are other MCCs that require such special-case handling - fuel dispensers, public telephones, vending machines, hotels (the boarding & lodging type), car rentals etc. all are examples of merchants that can authorize one amount but settle for a different amount.

Thanks for the explanation !

[DigitalOne]

Originally Posted by funkyp

Pm me the email/phone no given when applying. I will have it checked

I got my SCB super value Titanium credit card a month back and have been using it now for fuel purchases and a few utility bill payments.

In my december statement, there is an ominous line which states that:

In the month of December 2012, the rewards redemption catalogue will be enhanced to provide more choices and exciting features. With this
enhancement cash back earned will not be automatically credited as before but can now be redeemed for vouchers & products of greater value. If you
wish, you can redeem towards cash back credit - the choice is yours. To redeem your cash back you may call helpline or visit online rewards at
www.standardchartered.co.in. The reward points redemption ratio will also be revised, Keep visiting the website for more details.


This is too bad :-( . I switched cards only for the cash back. Also I didn't find any link in www.standardchartered.co.in where we can opt for Cash back credit.

If other users have some more information, let me know.

[coolkurt]

Originally Posted by DigitalOne

I got my SCB super value Titanium credit card a month back and have been using it now for fuel purchases and a few utility bill payments.

In my december statement, there is an ominous line which states that:

In the month of December 2012, the rewards redemption catalogue will be enhanced to provide more choices and exciting features. With this
enhancement cash back earned will not be automatically credited as before but can now be redeemed for vouchers & products of greater value. If you
wish, you can redeem towards cash back credit - the choice is yours. To redeem your cash back you may call helpline or visit online rewards at
www.standardchartered.co.in. The reward points redemption ratio will also be revised, Keep visiting the website for more details.


This is too bad :-( . I switched cards only for the cash back. Also I didn't find any link in www.standardchartered.co.in where we can opt for Cash back credit.

If other users have some more information, let me know.

Can anyone else shed some light on this? their website still says 5% cash back

[alpha1]

Originally Posted by DigitalOne

Second (related ) question: When we go to restaurants, we sometimes add the tip amount to the charge slip, total it up and give it back. How does this charging happen? I haven't seen this approval happening electronically. I have never received an SMS of this deduction ( was the amount too low :-) ??).
Is there scope for cheating by the merchant to add/change digits in the charge slip?

Even I am puzzled by this aspect, but methinks you hit the nail - the tip amount would be too less.

[abdriver2000]

I got cheated at an Indian Oil Pump last month. I have the Citibank IndianOil card which I have been using for 9 years and I fuel only at some of the better known pumps in town. That particular day, I fuelled at the Petrol Supplying co. below Lalbaug flyover, since I forgot to fill in at my regular pump. This pump is an IndianOil Pump and even has a Citibank banner. Transaction went fine but the statement had an extra Rs. 14.50 for a 500 buck transaction.

This has happened before and call center usually takes requests to reverse the surcharge, but in this case, they told me that this pump is not on their list. I asked them if they cover all IndianOil pumps, and they said yes, but this is not on their list!

[funkyp]

Originally Posted by DigitalOne

In the month of December 2012, the rewards redemption catalogue will be enhanced to provide more choices and exciting features. With this
enhancement cash back earned will not be automatically credited as before but can now be redeemed for vouchers & products of greater value. If you
wish, you can redeem towards cash back credit - the choice is yours. To redeem your cash back you may call helpline or visit online rewards at
www.standardchartered.co.in. The reward points redemption ratio will also be revised, Keep visiting the website for more details.


This is too bad :-( . I switched cards only for the cash back. Also I didn't find any link in www.standardchartered.co.in where we can opt for Cash back credit.

If other users have some more information, let me know.

Originally Posted by coolkurt

Can anyone else shed some light on this? their website still says 5% cash back

The benefits of the card will stay. 5% cash back will still be applicable. Only once the new rewards platform is launched, the cash back will accumulate there and you can at any point transfer it to your card or use that money to buy anything from the catalogue.

More details will come once the platform is launched.

[OmThoke]

I think all the platinum level and above cards still have the fuel surcharge waiver - at least my Axis, HDFC, SBI, and Kotak cards do - not sure about Citi and ICICI because I don't have 'em

[Oxy]

Originally Posted by OmThoke

I think all the platinum level and above cards still have the fuel surcharge waiver - at least my Axis, HDFC, SBI, and Kotak cards do - not sure about Citi and ICICI because I don't have 'em

AFAIK, Citi gives you fuel surcharge waiver only if you swipe the card on an IOC petrol bunk, and the card has to be swiped on a Citibank IDC. Same is the case with ICICI. You get the waiver if you swipe the card on an ICICI IDC at any HP petrol bunk.

My HDFC World Mastercard gives me the waiver on all pumps on any IDC. But at times I have seen something unusual on my statements. On a Rs.250 transaction, the amount in the statement appears as Rs.261.xx, and Rs.10 is credited back. Wonder what happens to the remaining Rs.1.xx.

Originally Posted by abdriver2000

I got cheated at an Indian Oil Pump last month. I have the Citibank IndianOil card which I have been using for 9 years and I fuel only at some of the better known pumps in town. That particular day, I fuelled at the Petrol Supplying co. below Lalbaug flyover, since I forgot to fill in at my regular pump. This pump is an IndianOil Pump and even has a Citibank banner. Transaction went fine but the statement had an extra Rs. 14.50 for a 500 buck transaction.

This has happened before and call center usually takes requests to reverse the surcharge, but in this case, they told me that this pump is not on their list. I asked them if they cover all IndianOil pumps, and they said yes, but this is not on their list!

Was the card swiped on a Citibank IDC? In other words, did the charge slip that you signed have a Citibank logo?

Originally Posted by Oxy

On a Rs.250 transaction, the amount in the statement appears as Rs.261.xx, and Rs.10 is credited back. Wonder what happens to the remaining Rs.1.xx.

I also experience the same whenever I use my Axis Bank Platinum CC at IOCL petrol pumps. But, it doesn't happen that way at BPCL pumps, where the entire excess money charged is credited back! But, whenever I use my Axis Bank Priority DC, irrespective of the pumps, I was charged the actual amount spent on fuel. I thought that IOCL might be charging service tax on the surcharge, which was not credited back, whereas BPCL might be charging only surcharge without service tax.

[S_U_N]

Originally Posted by Oxy

My HDFC World Mastercard gives me the waiver on all pumps on any IDC. But at times I have seen something unusual on my statements. On a Rs.250 transaction, the amount in the statement appears as Rs.261.xx, and Rs.10 is credited back. Wonder what happens to the remaining Rs.1.xx.

Originally Posted by J.Ravi

I also experience the same whenever I use my Axis Bank Platinum CC at IOCL petrol pumps. .

Same issue with HDFC world mastercard. I don't get the full amount back, but still this is much better than my other credit card (ICICI) where I have to ensure that they use and ICICI EDC machine. So, I stopped using that one for fuel completely.

[binand]

Originally Posted by S_U_N

Same issue with HDFC world mastercard. I don't get the full amount back, but still this is much better than my other credit card (ICICI) where I have to ensure that they use and ICICI EDC machine. So, I stopped using that one for fuel completely.

You just have to write to them. They will reverse everything. True, it is bad that they don't do it all automatically. I take a bill every time I fill up my car, and reconcile my card statement against the bill. Takes me about 30 mins a month, which I consider time well spent, since I fill up north of 10K in petrol a month.