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Finance charge.

Summary: What is the penalty for not paying the full amount?

Manuel Almario, Community Editor

Through your esteemed newspaper I want to alert all the UAE residents about the credit card from Standard Chartered bank. In my September 2017 statement, I had an outstanding of Dh12,125.74. I paid Dh12,000 on the due date, but because of some confusion, I failed to pay Dh125.74. To my shock, when I received the statement for October 2017, there was a finance charge of Dh328.73 (a penalty of 261.44 per cent) in one month for not paying Dh125.74.

From Mr Khwaja Saad Rashid


The management of Standard Chartered responds:

Upon receiving the complaint, Standard Chartered Customer Care Unit contacted the client and informed him of the policy. The fees levied on the card are valid as per the terms and conditions of the card that the client has signed and agreed on when acquiring the card.

Mr Rashid responds:

The Customer Care Unit contacted me. As per the policy of Standard Chartered, it may be possible that the fees levied are correct.

They informed me that the charges would be applicable to the whole amount, which was due despite the payment being done. Why should I pay interest for the amount I repaid to the bank? How can anyone justify a fine of Dh328.73 for not paying Dh125.74 in 28 days?

My past history with the bank is good and I have never delayed or failed to pay. I request them once again to reverse the charges for the amount that I have already paid. I do not have any problem in them charging me for the unpaid amount.

Editor's note: Standard Chartered reiterates the charges are valid, and has nothing further to add.

(Process initiation: December 4. Response from organisation: December 10. Process completion: December 18.)

Editor's note: Do you have similar issues that you would like to raise with us? You can write to us at

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Publication:Gulf News (United Arab Emirates)
Date:Dec 26, 2017
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