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It is important for one to pay credit card bills on time to avoid falling short on making payments and late fees charges. If one misses paying his/her credit card bills on time frequently, it can have a major impact on his/her credit score. However, Standard Chartered Bank, has various channels through which the credit card bill can be paid.
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NEFT/IBFT
National Electronic Funds Transfer (NEFT) is a nation-wide payment system that facilitates one-to-one transfer of funds. This scheme allows individuals, firms and corporates to transfer funds electronically from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country that is participating in the scheme.
Inter Bank Fund Transfer (IBFT) is a payment facility offered by Standard Chartered Bank as part of Online Banking. It allows a customer to transfer funds from his/her Standard Chartered Bank savings or current account to any other account in any bank.
To use any one of these 2 payment systems, one should quote the IFSC code SCBL0036001 (MG Road, Mumbai) to transfer money directly from one’s bank account to Standard Chartered Bank credit card account.
Standard Chartered Online Banking
One can clear credit card dues by using Standard Chartered online banking. This can be done conveniently by logging into Standard Chartered Online Banking account using the internet banking username and password to make quick and easy payments. This method allows payment through account transfer – anytime, anywhere. The customer can view his/her statement online and then decide – the minimum due amount, total amount or any amount of choice to be paid.
Visa Credit Card Payment
This service allows transfer of funds from the customer’s bank account to any Visa credit card issued in India. It is possible to send money to over 27 million Visa card holders in India within 3 working days. A fee may be levied by the initiating bank when using Visa Money Transfer.
Bill Desk
One can make the credit card bill payment in a secure and convenient manner using this option – anytime and anywhere from any bank account to the credit card account. After selecting one’s bank, card details and the amount to be paid, one is automatically redirected to the bank’s payment interface where the transaction is authenticated before final payment.
Cheque Payment
One can clear the credit card dues by making a payment through cheque. The cheque should be in favour of the “Standard Chartered Bank Card No. xxxx xxxx xxxx xxxx (16 digit credit card number)” and can be dropped at any Standard Chartered Bank’s cheque collection boxes. The cheque should be complete in every way and any alteration done must be counter signed to prevent unnecessary cancellation. The bank’s website gives a complete list of locations having cheque collection boxes in India. It is advised to make payments at least 3 days before the payment due date to ensure timely credit of funds into one’s credit card account.
Cash Payment
The credit card bill can also be paid by depositing cash at any Standard Chartered Bank branch having teller facility. One has to fill the cash deposit slip with required details and deposit the cash at the teller counter. The teller accepts the cash payment and hands over a receipt.
Phone Banking
One can call the Standard Chartered phone banking helpline and request a transfer from one’s bank account to pay the credit card bill. Assistance at the phone banking is available 24×7.
Auto Debit/Electronic Clearing System (ECS)
One can even give instructions to one’s bank to automatically debit the savings account to pay the credit card bill in full or pay the minimum amount every month with the facility of Electronic Clearing System (ECS). Since the entire process happens through Reserve Bank of India’s electronic clearing mechanism, the customer can enjoy the benefits of ECS/auto debit irrespective of the bank in which he/she holds a savings account.
To apply for this facility, one has to download the required forms from the internet. Form A has to be submitted to own bank (where savings account is maintained). Form B and Form C have to be sent to Standard Chartered Bank (they can be dropped at any cheque drop box or mailed to the address mentioned on the form) along with a photocopy of a blank cancelled cheque issued by own bank.
Payment Apportionment
This method allows one to distribute the payment in case one has multiple credit cards and has to clear the outstanding payments and still maintain a good credit standing. If one has multiple credit cards/EMI accounts with Standard Chartered and more than one have outstanding status, the bank can distribute the payment in such a way that it clears the outstanding amounts with the objective of keeping a good credit standing.
In the absence of any specific information on payment apportionment, Standard Chartered Bank first diverts funds towards the clearance of minimum amount due in respect of all card/EMI accounts of the customer. After that, excess payment is sequentially allocated towards payment of the credit card account with the highest balance. If any card account is overdue, the bank reserves the right to prioritise payments to the overdue accounts first.
For cash payments and funds transfer, individual payment should be made against each account.
What should I do if I do not have or have forgotten online banking username and password?
You can register for online/mobile banking by using ‘Instant Registration’ with your debit or credit card. Please insure your mobile number is registered with Standard Chartered Bank to receive an SMS with your temporary password.
Can I make my Standard Chartered Bank credit card bill payment on the last day?
It is advisable to make the credit card bill payment in advance to avoid any late payment charges, however, there are a few bill payment services that credit the payment immediately.
Can I automate my Standard Chartered Bank credit card bill payment?
Yes, you can automate your Standard Chartered bank credit card bill payment by registering for the auto-debit feature on your Standard Chartered Bank account.
Standard Chartered Bank is a British multinational banking and financial services company with its headquarters in London. It has a network base of more than 1200 branches and outlets across over 70 countries in the world. It is among India’s largest banks with over 100 branches in around 43 countries. Ever since its inception, it has been showing consistent and steady growth. It offers a wide range of products to its customers and also ensures that they get a robust customer care service for any support, complaints or feedback regarding Standard Chartered banking.