CosmicRaccoon

What horrific charges you had on your bank account?

I have a IndusInd bank salary account(Gurgaon), where last salary was in 2019 jan. Haven’t been using it since then… Tried to check balance today. It showed a negative balance of -6500. WTF!! Worst part, bank employees at Bangalore says I have to close account in Gurgaon. Would want to understand if similar issues had been faced by others as well.

16mo ago

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ZestyWaffle

Freelancer16mo

https://www.rbi.org.in/commonperson/English/Scripts/Notification.aspx?Id=1500 Refer above circular by RBI. See the last point where it is clearly mentioned that "It should be ensured that the balance in the savings account does not turn into negative balance solely on account of levy of charges for non-maintenance of minimum balance." You can look up bank ombudsman details and complain via mail by attaching above circular and your account details. Banks have to reverse the charges and intimate to you on account closure.

CosmicRaccoon

Stealth16mo

They are smart. There is a lien amount which is kept against my account which doesn’t show in statement. Balance is 0.01 Cr

ZestyWaffle

Freelancer16mo

Did you avail any loan? If yes which loan and whether it is paid off completely?

SnoozyPotato

Stealth16mo

The thread about RBI circulation is correct, showed it to the branch manager and asked to close account with negative balance, was trying to refuse, asked to give it in writing, will complain to RBI, later relented and closed the account

CosmicRaccoon

Stealth16mo

Going to write a letter and send it to the bank for closing the account.

WobblyNoodle

InMobi16mo

Have you checked your bank statement? Even if you incurred penalties for not having minimum balance + some maintenance fees, -6.5k looks quite high.

CosmicRaccoon

Stealth16mo

Don’t have access to digital banking. It’s all locked… debit card expired. Spoke to customer support, told to go to nearby branch and check. If denied, ask to call customer support for complaint against branch.
Hoping able to close the account and also check out what charges are levied.

FuzzyMochi

Stealth16mo

With 2-3 years of inactivity it goes upto 6.5k, same happened with me and HDFC

FuzzyMochi

Stealth16mo

Just don’t touch that account again. I have a similar situation with a HDFC bank salary account and the solutions presented by the bank are 1) Leave the account alone for 2 years and it will be marked dormant and closed automatically or 2) Pay the amount and reactivate the account.

Branch will pushback to delay marking it as dormant because it affects that individual branch’s bottom line/PNL statement. Leave it as is. Also since the bank is IndusInd bank, don’t really see it having any future implications as it’s still not a top bank. In my case getting HDFC credit card after this issue became a huge challenge!

CosmicRaccoon

Stealth16mo

Went to bank. These are the solutions given by the local branch.

Put money in account so that it is re-activated. You can put a closure request after that.
There was this lady who printed my account statement. She told what his male colleague didn’t. She told not to give any money, just write closure letter to the home branch and tell them to close it. Kudos to her!

Called customer care. Solutions:

Go to home branch for getting lien removed. There is no other way to close account.

It’s 2023, and still things like this exist. What I’ve noticed is that it’s pretty easy to open accounts, but very difficult to close it.

I am going to follow the lady’s advice and see if it works out or not. Am not paying that 6.5k when it’s not reflecting in my account statement. There was no SMS also shared with regards to account balance.

ZestyLlama

Stealth16mo

Try banking ombudsman or grievance cell whenever you visit any branch mobile no and email I’d us written at noticeboard. Even you can mail toh nodal officer the account can be closed anywhere and also you don’t need to pay any charges I am a banker take my HELP 😀

CosmicRaccoon

Stealth16mo

Thanks for this. It’s of great help. I am going to check the nodal officer then and write them an email to close my account.

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