Standard Chartered Credit Card Scam / Fraud banking practice

POSTED BY dev ON November 5, 2012 3:16 pm COMMENTS (7)


Dear Sir,

I like to draw your valuable attention toward Mental Trauma I am suffering from due to 
unimaginable behavior by your bank.

I had a card with Standard Chartered bank Card No. 5546 XXXX XXXX 4102 with INr 23,000 credit limit. I 
stopped using that card from DECEMBER 2009, at that time my outstanding was about INR 15,000.
I was unable to pay my dues due lack of income as I was pursuing studies.

Now, since last 2 months I am contacting Standard Chartered bank in order to clear my dues in mutually 
acceptable terms. After several follow ups last month on 30th September  
Ahmedabad branch of Standard Chartered offered me a deal and asked me to pay INR 30,000 (instead of INR 15,000 I 
actually used) in order to provide me a “NO DUE CERTIFICAFE”. As they called me at about 1 pm 
on a working day and I was in the office, thus it was not poosble for me to arrange the fund 
on the same day by 6pm. I requested them to give me extension, and they refused to provide even 
one day extension. 

Now, in middle of Present month (October) I called again and spoke with the same 
branch, which told me that now in order to get the same NO DUE CERTIFICATE, I have to pay INR 
38,786 by 31st October 2012, so I should arrange money and call them. 

I called them on 25th October MORNING (Thurseday)and told them that I want to pay INR 38,786 now 
so how to proceed. The branch told me that they will be calling me by the afternoon and will be 
providing me with another card number toward which I have to make the payment, as my card 
number has been changed.

I did not receive any call from them and on the same day till 6 pm I tried to call them more 
than 20 times, AND till Tuesday I have tried to contact them many time without any success. 

I contacted SCB head office and then got a call from Ahmedabad branch agin on Tuesday, when he told me that now not even INR 38,786 the amount he committed earlier but I have to pay INR 66,000 instead.

My experience with Standard Chartered is horrible and is the worst of its kind in my life so far.

This bank is ran buy a bunch of thieves and fraudstars who are here to just rob common people of India.

Its Director “Sandeep Das” and Private Banking Service-Head “Madhura Das Gupta Sinha” is so unsestivive to their own customer that inspite of repeatitive mail from my side mentioning the issue and appealing for help, they did not even bother to respond.

I also appeal to concerned authority from Govt./RBI to look into the unethical practices Standard Chartered is doing and kick them out of our country.

I also appeal to my fellow countrymen, please think twice before using any product of Standard Chartered, as bad days may come to anyone’s life any time and Standard Chartred with its cruel intension will be always looking for an opportunity for “sucking your blood”. 

Looking forward to hear from you soon.


7 replies on this article “Standard Chartered Credit Card Scam / Fraud banking practice”

  1. Swarup says:

    Yes, the standard chartered Bank is awful. I have just missed a payment of 3000 rs as their app is very confusing.they charged me interest of 13000 for just 5 days and I after calling them multiple times ,they reduced it to 6500.. I have paid every due I had and don’t know, current month statement again has 8500 interest rate. I don’t know what is going on..I’m doomed.

    1. Jagoinvestor says:

      Unless you clear off all your liability (till 0) , the interest will be there along with penality

  2. Dear Dev, what’s the update now?



  3. dev says:

    Dear Manish,

    For your information, 1) All of the amount they have offered are for “NO DUE CERTIFICATE” only and not for “Settlement” status.

    2) I also had outstanding with another bank of Rs. 20,000 and for the same time period they only charged me Rs.37,000 and recently issued me “No due certificate” after I paid them last month.

    No other bank is as bad as Standard Chartered. They are “Here to Rob and Steal” and not for “Good”.

    They are bloody robbers and seeking to rob people.


  4. Thanks for sharing this case Dev .

    Now one main question is – What is the actual default outstanding value which is as per the bank term and condition . I mean , fine you used 15k , but as you didnt pay on time , they have added the late fees and interest part for few years . I am sure the actual outstanding value would be very near to what they are asking .

    Also as you mentioned , they have not done well in terms of service and that is something you should be disappointed to and you also should seek the proper reply on that .

    I suggest open a complain with banking ombudsman and their grivience cell


    1. dev says:

      Dear Manish,

      Thanks for your response.

      Fist of all I dont believe Standard Chartered bank any more as I have already defined them as “bunch of tugs”.

      My question is:

      why they asked me to pay Rs. 30000, then Rs. 38,000 and then Rs.66,000 within a time frame of 1 month only??? Why so much of wrong commitments???
      Why don’t even bother to reply to my queries?

      Is there any other bank in India charging so much money other than Standard Chartered.

      I appreciate your advice about reporting this to RBI banking ombudsman.


      1. My guess is that they were giving you “settlement” amount earlier , which was anyways bad for you , as they saw your repaying capacity , they increased it , and kept increasing .

        Regarding charges, I am sure its charges are as much as other banks . But from service point of view, you are correct. they are just aweful !


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