Credit Card unauthorized transaction?

Question

MY name is Sourav and having a Credit card for several years now. I had a couple of LIC payments scheduled for Auto Pay with Cards. I had decided to stop one of the LIC policy and sent email to LIC to know the procedure. As per them stopping further premium is the way to stop(paid of) the policy. On 27th August 2015, I called  bank Cards and asked them to stop the automatic payment to LIC A/c Number: xxxxxxxxx The reference number of my call was xxxxxxxxxx I was told that the payment would be stopped in 5 working days time. On the same day(27th August 2015) I also sent an email to with the same request to stop the bill pay for the above LIC account. The interaction number After that I followed up with them through email multiple times for the stop payment. Even after that the LIC bill of Rs49, 220 was paid on 19th September 2015. So my point is I don't want to pay this amount to Cards. I escalated this matter to the highest level in the  bank hierarchy.hierarchy. Initally their logic was they received the bill from the biller on 21st August. But when I argued that I requested to stop payment(through multiple channels) on 27th August and bill was paid on 19th September. Why there was no action taken for 23 days even after multiple followups? They don't have any answer to that. Apologized for that. But still wants me to get with LIC to get the refund. But to LIC the way to stop LIC would be to make any further payment. So I need the justice to fight with Cards on this matter.

Answer 1

Dear Sourav,

At the outset, let me clarify that this site is designed by a group of senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

The stand of both your bank and LIC are indeed baffling. If you wish to discontinue your policy, the right course would be to approach the concerned LIC office  and submit a suitable application. You must follow up the matter to the logical end. You can also take help of the agent or officials of the bank through whom you have obtained the policy.

As regards your complaint against the bank since you have  not received appropriate response even after taking up with the higher authority, I would urge you to take up with the Banking Ombudsman through a letter or email,  for quick and hassle free resolution of your grievance. While writing to the BO, don't forget to enclose copies of your email or other form of communications exchanged with your bank and even LIC office for that matter. Your bank will be called to account and compelled to resolve the matter on merits. 

For address of the Office of the Banking Ombudsman, Area of Operation (jurisdiction) and the procedure for lodging complaint, you may access the website https://bankingombudsman.rbi.org.in/

 

Regards

 

J R Mohandas