DO NOT TAKE YOUR BANK FOR GRANTED

“Kayal aap Ka “, “ We understand your world better”, “ Bank aapki muthi mein”….Thus go interesting tag lines of leading private sector banks !

Are we sure that these banks have our “Kayal “ all the time, Do we really have Bank in our 
“ Muthi”..do they care to understand “our world” ? 

Let me share with you my personal experience with one of the very leading, highly profitable private sector bank. We have been associated with this bank for the past two decades. We have our Savings account, current account, lockers, D.E.M.A.T account, credit cards etc. with them. We consider them as our family bankers and we have made our daughter, son in law et. al . to open account with this bank. The bank which had One thousand rupees as minimum balance now wants INR 10000 as minimum balance. We have no issues with that. We are “PREFERRED” customers and with net banking facility etc. we find banking a pleasure with the bank. 

All was well till 13th June’16. On that day, I saw two debit entries in my savings account. One was for INR 861 as D.E.M.A.T A/C charges and another one was for INR 7.15. I got a bit curious and I checked my other savings account wherein our D.E.M.A.T account is linked. I learnt that the amount debited was for a D.E.M.A.T account which we had closed in July’13. A complaint was lodged in the bank’s website. Immediately the complaint got registered. After that an avalanche of communication started following.

Chandini, Swetha, Sindhuja, Sujatha and horde of other names started communicating one after another as I was not going to give up so easily every mail of theirs was replied with rejoinders.First they started telling that the amount debited was for D.E.M.A.T account. I told them that the account was closed in July’13. Then I was asked to produce proof for the closure. 

Thus I had to write to their securities division. They acknowledged the closure of the account in July’13. On taking up with the bank, I was told that I should write in the registered mail ID. After that again, I was asked to forward the proof of closure of D.E.M.A.T account. Then, as if I am a novice, I was explained about N.E.F.T Charges for the INR 7.15 debited safely ignoring the major chunk of INR 861 and they concluded that the complaint was closed. 

By then, I lost my cool and sent a mail stating that I would be writing to their MD and send a copy to bank’s ombudsman. Promptly came a reply stating that INR 861 would be reversed and credit would be given immediately. Same day, I got credit for INR 861 and the same was confirmed by the concerned branch. After that, I wrote to the bank that for the past three years they were charging D.E.M.A.T charges for the closed account and asked them to reverse the debit entries too. Without a murmur last three years entries were reversed by the branch. 

Believe me, we can’t take our bank’s service for granted we need to carefully check every entries after all their Kayal is towards their profit !!