To Close A Credit Card, SBI Demands 5 Paise From A Farmer And We Are Digging For Some 5 Paisa Coins Now!

When it comes to banks and their dues, it cannot be less a hefty amount. However, SBI takes its dues really seriously! Recently, SBI (State Bank Of India) surprised its customer by asking him to pay his outstanding due if he wanted to close the card account and the amount was mere 5 paise. According to Banglore Mirror, S Sathish, 35, a farmer from Mysuru, had been using the SBI credit card with the Vijayanagar branch for the last five years.

He wanted to terminate his credit card and called up the customer service executive. The executive told him that he would have to clear his outstanding balance in order to close the card.

“I was shocked to hear that I had to clear the balance as I have always been regular with my payments. However, I thought maybe I had to pay the service charge. But when the executive told me that I had to clear the amount of 5 paise, I didn’t know whether to laugh or cry” 


At one point in time, he thought that the bank officials were pulling his leg, but gathered that the matter was serious when the bank system did not proceed to close the card without clearance of the balance. Sathish then decided to pay with Rs 10, but his friend gave him the idea to pay the outstanding amount with a cheque of 5 paise.

When Sathish went to the cash payment counter, even the teller couldn’t believe what he was seeing. It bought a huge laughter in the branch, with employees saying “we have never seen such a cheque.”

However, the bank accepted the cheque and the credit card was closed. In fact, the processing charge of Rs 3 for closing the card was much more than the clearing amount.

Speaking to Bangalore Mirror, Sathish, whose pet name ‘Gundlupet Sathish’ has now been changed to ‘Aidu Paiseya Sathisha’ (5 Paise’s Sathisha) by his friends, said, “Our banks have not evolved despite technology and other things. The banking sector should evolve to rule out such tiny amount of money.”

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