I see payment dishonour charges in my SBI credit card. what are those for?
Oh the notorious SBI! I remember my brother had to struggle for 3 months to just get a refund for wrongful payment dishonour charges.
But before I go on with my rant, here is what payment dishonour fee is.
So a payment dishonour fee is generally applied when your payment doesn’t get through for credit card repayment either because your account has insufficient funds or it is frozen.
My brother had to freeze his account due to some fraudulent activity and that is where the whole circus started. He paid his credit card dues a week before the due date but since auto debit didn’t go through, he was slapped with a payment dishonour fee.
Finally after much too and fro, things were sorted and he got his refund for wrongful SBI dishonour fee.