Submitted by: frankdesai
Complaint Details:
1) In one instance, they deducted 100/- Rs for insurance premium without my permission. On raising complain, they did revert back but not everybody looks at the statement and this bank seems to be cheating lot of people by levying inadvertent charges like this. This is serious..!! RBI needs to take action for such irresponsible and unethical behavior.
2) They made me run to home branches to make a branch transfer request and didn’t take request in destination branch which was near to my new house. Why can’t they take request in destination branch? They can but they don’t want to..!! In the destination branch, branch manager himself was making me run to get different documents, though my KYC was OK.
3) On top of that this bank has charged 115/- Rs for “Branch Transfer”. Please let me know after Core Banking implementation where does this heavy charge come into picture? I asked them for breakup explaining the levied charges and I didn’t get any satisfactory response. Their site says this charge is inclusive of postal charge. Now I don;t understand where does postal charges come into picture after Core Banking. Just scan the document and send to destination branch and by the way the postal charges are also not too high FYI..!! They are simply looting..!!
4) Their TDS deduction system also seems flawed as in one instance I had two FDs with same principal amount, same ROI, same maturity value, same maturity date but the maturity proceeds of both differed by value of ~2000 Rs though both had TDS already deducted. The clarification for the same is yet not provided by the bank.
5) They neither have efficient managers nor efficient system to convey information.
6) On branch transfer, the manager was again asking to do KYC, why do I need to do KYC again on branch transfers? I just need to give proof of address for new address, that’s it. They are really harassing their customers emotionally and financially as well.
7) To convey information to next branch to do KYC again, they changed my name in the account from “FRANK KIRITKUMAR DESAI” to “FRANK KIRITKUMAR OBTAIN KYC AT YOUR END DESAI”. Please let me know if this is the place to convey this information. I really wonder if they are really literate people doing this job? After lot of follow up they did this correction.
8) This bank does not operate as single entity even after implementation of Core Banking and asks their customers to visit home branches even for petty things like passbook update.
9) This bank acts as if it is the top authority..!
10) It charges hefty amounts for as petty things as passbook update (10 Rs), branch transfer (115 Rs), cash deposit (25 Rs). How are these charges justifiable? Has RBI prescribed these charges or RBI does not regulate anything?
11) For every small thing, they will ask you to visit branch and on the other side they don’t appreciate if somebody visits branch and ask them to do things online and use technology.
12) Does auto-renewal of FD even if no instructions for auto-renewal is given at the time of opening it.
13) Even if you give timely instruction to close the FD on maturity, they will do auto-renewal and customer need to take constant look if the bank is doing its job or not?
14) Nobody responds in this bank – starting from branch manager, associate general manager, zonal manager, general manager, chief vigilance officer, chairman.
15) It seems even RBI is not taking any action against this bank who follows lot of non-ethical banking practices.