[S_U_N]

Originally Posted by S_U_N

I wrote to ICICI and also looked at the charge slip. They had actually used Axis bank gateway as per the charge slip.

Now, this is the response from ICICI.

-----------------------------------------------------------------------------
We understand your concern.

We wish to inform you that the excess amount billed in your credit card is towards fuel surcharge.

We inform you that the fuel surcharge waiver on an ICICI Bank HPCL Credit Card is applicable on a fuel purchase up to Rs. 4,000.00 per day, at selected HPCL petrol pumps. More importantly, the waiver is applicable only if the card has been swiped on an ICICI Bank EDC machine.

I forgot to mention, that after complaining to ICICI about this, they waived off the charges (I probably paid Rs. 10 extra in the process). So, kudos to ICICI for this.

Now, my question for today is.
From the charge slip is it possible for someone else to determine if this actually is payment for petrol and not some other item?

Unfortunately there is nothing on the charge slip which indicates that I have swiped my card on a petrol bunk, including the name of the merchant (Khed Taluka Sahakari K)
Is there some lookup table which can show me corresponding merchant from the APPR code or some other code?

[binand]

Originally Posted by S_U_N

From the charge slip is it possible for someone else to determine if this actually is payment for petrol and not some other item?

It is not possible from the charge slip, but the intermediaries involved can. Each merchant, when signing up for card processing services, is assigned what is known as an MCC (Merchant Category Code) which denotes the type of business involved. The MCC of the merchant is presented to the issuing bank when the payment is posted for approval.

Here is the list (for Visa, but I believe it is identical for MasterCard too):

http://www.dm.usda.gov/procurement/card/card_x/mcc.pdf

[S_U_N]

Originally Posted by binand

It is not possible from the charge slip, but the intermediaries involved can. Each merchant, when signing up for card processing services, is assigned what is known as an MCC (Merchant Category Code) which denotes the type of business involved. The MCC of the merchant is presented to the issuing bank when the payment is posted for approval.

Here is the list (for Visa, but I believe it is identical for MasterCard too):

http://www.dm.usda.gov/procurement/card/card_x/mcc.pdf

Thank you binand.
Although this is interesting, I cannot prove that I am submitting a petrol bill just by submitting a charge slip, since the MCC is not printed on the charge slip.

[binand]

Originally Posted by S_U_N

Thank you binand.
Although this is interesting, I cannot prove that I am submitting a petrol bill just by submitting a charge slip, since the MCC is not printed on the charge slip.

Oh ok. If it is for reimbursements you cannot submit only the charge slip. You need the invoice from the pump. Ask them for one (call it a "bill") and they should give it to you.

[Ragul]

The surcharge waiver is only available if you swipe the card on the credit card banks machine not on another banks. Thus I always ask if the IOC Pump has a citibank machine before filling. Else fill up only 500 rupees worth.

--R

[ani_meher]

I have HDFC VISA credit card, and have never been charged any surcharge. It is always waived, and I am sure not all of the swiping machines were HDFC ones!

[rkg]

Originally Posted by funkyp

To tackle the fuel surcharge problem you can also opt for the standard chartered super value titanium credit card. Advantage? You get a 5% cash back on fuel(2.5% surcharge refund + 2.5% cash back), telephone bills and utility bills agnostic of the pump/service provider.

Clarification: I work for standard chartered. The intention is only to tell about a card which could save you money on fuel.

Is cash back applicable if one uses the card to pay premium online for insurance policies in respective company websites?

[Me-hul]

Originally Posted by ani_meher

I have HDFC VISA credit card, and have never been charged any surcharge. It is always waived, and I am sure not all of the swiping machines were HDFC ones!

Hdfc provides surcharge waiver in all the bunks unlike other service providers which have tie-ups with particular brands.
The only downside of using hdfc credit cards at fuel bunks is that no cash back or fuel points can be availed.

[funkyp]

Originally Posted by rkg

Is cash back applicable if one uses the card to pay premium online for insurance policies in respective company websites?

Not quiet sure but don't think insurance premiums come under utility bills, so cash back won't be applicable.

[binand]

Originally Posted by Ragul

The surcharge waiver is only available if you swipe the card on the credit card banks machine not on another banks.

Not true for all cards. I currently have an HDFC Visa Signature, and previously held an Axis Bank Corporate Visa. Both have fuel surcharge waiver at all pumps, brands, amounts, swipe machines etc.

I also have a Citibank Visa which has waiver in IOCL pumps, but there too I don't recall them ever insisting on a Citibank swipe machine. I personally never have had to request it.

[rkg]

Originally Posted by funkyp

Not quiet sure but don't think insurance premiums come under utility bills, so cash back won't be applicable.

The information brochure given to me mentions of cash back for insurance premiums paid through online bill pay of SC.
Online SC bill pay takes us to billdesk site

The doubt is if the payment is done through insurance company website rather than bill pay
"is cash back applicable"

Mr Me-hul

In case of HDFC card, points do accrue in case of fuel purchase along with surcharge waiver. If the EDC machine belongs to a bank other than HDFC then service tax on surcharge has to be paid

In case Citi- surcharge waiver is applicable only if the machine belongs to Citi. Citi website has a list of IOCL petrol bunks across the country where Citi ED machine is installed

[DigitalOne]

Thank you for the link. I asked a question on the blog but the author did not publish or answer it. So I am hoping somebody from here can answer.

The author quotes the cost of transaction for Cheque as Rs.25-40 and cost of transaction for Cash as Rs.18.

What is this Rs.18/- for cash? Is it per hundred rupees of cash transaction or per thousand rupees or per ten thousand rupees or what is it?

For cheque, is it per cheque that banks spend Rs 25-40? That seems an obscenely high amount. If true, the banks can do much much more to train people to use online NEFT.

Originally Posted by born_free

The following article does a good job of illustrating the point you made.

It also explains how credit card work, and who are the partied involved in a credit card transaction.

Ajay Shah's blog: New moves in regulation of debit card payments

@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).

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?

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.

Originally Posted by binand

OK, I see that this question perplexes many. As someone who has some experience in this industry, let me try to clarify.

Each payment card (umbrella term for a lot of products like credit cards, debit cards, charge cards, prepaid cards etc.) transaction involves (at least) five parties:


[*]The cost of delayed payments. Cash payments are spot payments, card payments are realized only a day or two later. This increases the Merchant's working capital requirements.

Originally Posted by funkyp

To tackle the fuel surcharge problem you can also opt for the standard chartered super value titanium credit card. Advantage? You get a 5% cash back on fuel(2.5% surcharge refund + 2.5% cash back), telephone bills and utility bills agnostic of the pump/service provider.

Clarification: I work for standard chartered. The intention is only to tell about a card which could save you money on fuel.

I applied online for this last week. The first call within an hour ( impressive !!) and then there has been deathly silence. No document collection, no verification... nothing. Possibly, because of the holiday season.

[CRV2010]

Originally Posted by DigitalOne

I applied online for this last week. The first call within an hour ( impressive !!) and then there has been deathly silence. No document collection, no verification... nothing. Possibly, because of the holiday season.

Follow up with their customer care and do not try to apply again onlinein SCB. Their online system will accesses your CIBIL automatically once you submit the application. However later on there will be no one to follow up.

[funkyp]

Originally Posted by DigitalOne

I applied online for this last week. The first call within an hour ( impressive !!) and then there has been deathly silence. No document collection, no verification... nothing. Possibly, because of the holiday season.

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

[rkg]

Originally Posted by DigitalOne

T
I applied online for this last week. The first call within an hour ( impressive !!) and then there has been deathly silence. No document collection, no verification... nothing. Possibly, because of the holiday season.

I too had applied online. Like you i got a call with in an hour. But they were silent for a week. Then a person from bangalore branch called and came to my office. He is not an outsourced guy , but actually an employee of SCB.

Believe or not, i got the card exactly within 5 days after the visit from the guy. Only Blue dart delayed the delivery by two days( sunday)

But PIN came after 15-20 days.