Automatic deductions from account without OTP
RBI had changed the rules whereby automatic deductions from credit cards or debit cards, without OTP was banned.
Earlier, some big players like Netflix used to force customers to save their card details and they used to deduct monthly charges automatically without one even knowing it. Ofcourse one can deny that but then one can't use their services. And if one wants to use their services for a month, he has to call them and tell request them to remove his card details before completion of the month. Otherwise, the amount will be automatically deducted. Another problem is that if somebody is not very particular and forgets, they shall keep deducting the amount even if he is not using it. My friend had lost his father who was using Netflix. His mother wasn't tech savy and had no idea. His son realised after a few months, when he got reminder from credit card staff and had to pay for these months.
Now that RBI came out these laws, one became hopeful but it seems that they have found some way out. They ask the customers to give them a one time approval for thereafter repeated deductions so that they can revert to old procedure. I have discontinued Netflix as a protest and have given them the feedback.
Similarly, Amazon Audibles charges monthly fees to be member of their audibles, and then charges for buying audible version of each book. And they too exploit by forcing subscription and automatic deductions from credit card account. I wanted to buy their audible books since my eyesight is getting affected by reading. But again this unethical practice of forcing one to pay automatically wasn't acceptable.
Can the local circles give this feedback and request RBI to endure that these big mncs don't force one to opt for automatic deductions? If one wants automatic deductions based subscription, fine. But for others, their must be an option to opt for OTP based monthly charges. more
Earlier, some big players like Netflix used to force customers to save their card details and they used to deduct monthly charges automatically without one even knowing it. Ofcourse one can deny that but then one can't use their services. And if one wants to use their services for a month, he has to call them and tell request them to remove his card details before completion of the month. Otherwise, the amount will be automatically deducted. Another problem is that if somebody is not very particular and forgets, they shall keep deducting the amount even if he is not using it. My friend had lost his father who was using Netflix. His mother wasn't tech savy and had no idea. His son realised after a few months, when he got reminder from credit card staff and had to pay for these months.
Now that RBI came out these laws, one became hopeful but it seems that they have found some way out. They ask the customers to give them a one time approval for thereafter repeated deductions so that they can revert to old procedure. I have discontinued Netflix as a protest and have given them the feedback.
Similarly, Amazon Audibles charges monthly fees to be member of their audibles, and then charges for buying audible version of each book. And they too exploit by forcing subscription and automatic deductions from credit card account. I wanted to buy their audible books since my eyesight is getting affected by reading. But again this unethical practice of forcing one to pay automatically wasn't acceptable.
Can the local circles give this feedback and request RBI to endure that these big mncs don't force one to opt for automatic deductions? If one wants automatic deductions based subscription, fine. But for others, their must be an option to opt for OTP based monthly charges. more
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One requires to furnish the details of his credit or debit cards in the event of availing any free trial services so that they can't discontinue the services once the free trial period is over with a view to avoiding payments to the service providers. more
Nov 17
I had Netflix. For the past few months, I get a reminder for payment. There is no automatic debit from my credit card. more
Nov 14
There is another aspect. Most of these MNCs and online businesses including telecom service providers savevour debit/credit card information. Their cites have been hacked and the information misused. Amazon Web services charges were being debited to my credit card for a couple of months though I had not subscribed to their services. It took up a lot of correspondence with credit card company to get it investigated and credited back. In fact this practice of saving information should be legally prohibited for preventing misuse and frauds. more
Nov 14
I also had a problem with Citi Bank not sending E/mail for one month as I had opted for paperless statement & than they started ringing me up.I told them you haven't sent the mail,even SMS was not sent.they took penalty on that which was %wise quite high. more
Nov 13
There are worse cases: American Express kept on billing me even thiough I have given the notice period they had stipulated. Then the only option I had was to stop payment. When you do this after writing to them the reason why you are doing this (may be they are raising the bills to meet some target), their umpteen paid middlemen start harassing you thru their emails as to how my credit rating has dropped and I wont be able to get a loan from any financial institution. And this is for no fault of mine. This system of the so-called credit rating needs a thorough investigation to see that it does not become a tool for harassing customers who have not failed to return a paisa of loan taken. I tried to explain this to these umpteen employeed middlemen, but to no avail. They tirelessly keep on sending emails probably because they get a substantial commission for the "amount recovered" which itself was created by wrong billing by Amnerican Express. fortunately I dont need any more loans from anyone, so I continue not to care about the threats. more
Nov 13
I have stopped using American Express card. In any case, its not acceptable at most of the places and you need another card for that. Keeping track of multiple cards is complicated in these times when one has to keep track of so many bills starting from electricity, water, Cooking Gas, Prime TV, Cable/Sat TV, Netflix, House Rent, Landline telephone/broadband, Mobile phones etc.
To that extent, automation helps but such forced automation as brought out in the above post and that too with ill intent is not desirable. Its not small issue as this systemised loot that should not be permitted by govt. more
To that extent, automation helps but such forced automation as brought out in the above post and that too with ill intent is not desirable. Its not small issue as this systemised loot that should not be permitted by govt. more
Nov 13
