HSBC
Credit for credit card payments

I am holding credit cards of different banks. some times i settle my credit card dues through visa transfer. In such cases, i find that my savings account is debited immediately on payment, whereas the corresponding credit by HSBC is only on the date of realisation at their end. It is quite surprising that other banks give the credit with retrospective effect, i.e. from the date my account was debited. e.g. Deutsche bank. can this be represented to RBI to standardise the effective date of credit, as otherwise, HSBC (or other banks) which follow this practice, charge interest from the date of debit to the savings account to the date of credit in their account. Effectively we lose interest on our savings account for this period and also end up paying additional interest to the banks.

Company: HSBC
Country: India

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