We already refuse to stop the royal sundaram medical insurance long back.?

Question

Dear sir/madam, Please note for the confirmation received from bank credit card dept regarding payment issued for insurance. For your kind information nobody talk to me about payment/information/permission/reminder etc..We already refuse to stop the royal sundaram medical insurance long back. Now deducted rs-13814-00 through my credit card. Please make sure reverse the amount rs 13814=00 to my credit card.  Kindly confirm receipt.
Thanks, 
Regards, 

Manjunath.

Answer 1

Dear Manjunath

At the outset, let me clarify that this site is designed and managed 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.

Was the refusal to further pay the insurance premium to Royal Sundaram given in writing to the Bank?  If it was very much given in writing and you are holding an acknowledgement of the same, then the Bank is just not in order in permitting payment through your credit card.  As desired for by you, the Bank should seek refund from Royal Sundaram and credit the premium to your card account.  If it was not given in writing, then it would be tough for you to get the refund of the premium paid by the bank to the Insurance Company.  In the absence of written instructions to the Bank, they would have paid the premium and you need to take up with the Insurance Co for refund of the same.  Hence, do check the facts, as stated above and take it up further accordingly.  If your claim of "Stop" instructions is correct, if bank and insurance co fail to refund/reverse the premium, you may escalate your grievance to either Banking Ombudsman or Insurance Ombudsman, based on who was at default.

RAJA