[binand]

Originally Posted by Jaguar

Does anyone have the contact info of someone higher up in Standard Chartered Bank?

Every bank has to operate a grievance redressal process, as per RBI guidelines. There is a hierarchy through which you can escalate your complaint - first to customer care (you have done that already), then to the designated grievance officer, then to the (nationwide) nodal officer and finally to the banking ombudsman. A quick DDG search produces this document in the case of SCB:

https://av.sc.com/in/content/docs/in...-redressal.pdf

[Jaguar]

Originally Posted by binand

Every bank has to operate a grievance redressal process, as per RBI guidelines. There is a hierarchy through which you can escalate your complaint - first to customer care (you have done that already), then to the designated grievance officer, then to the (nationwide) nodal officer and finally to the banking ombudsman. A quick DDG search produces this document in the case of SCB:

https://av.sc.com/in/content/docs/in...-redressal.pdf

I raised the complaint to customer care regarding incorrect interest calculation. After dilly-dallying for over a month with just verbal communication and no proper written answers, they just closed the complaint stating that their independent ombudsman has evaluated and found everything to be proper. So I am wondering if there is even any merit in going to their ombudsman.

[Fx14]

Originally Posted by Jaguar

I raised the complaint to customer care regarding incorrect interest calculation. After dilly-dallying for over a month with just verbal communication and no proper written answers, they just closed the complaint stating that their independent ombudsman has evaluated and found everything to be proper. So I am wondering if there is even any merit in going to their ombudsman.

In that case, you may escalate to the RBI Banking Ombudsman stating the facts - do you have a reference number of the customer care complaint atleast?

Though ideally a written reply of original complaint to the bank and refusal supporting copies would be better to show.

[thanixravindran]

Originally Posted by warrioraks

I had a Citi zero balance salary bank account since last 8-9 years. But moved it to another bank recently after Axis bank took over.

Couple of weeks back, got an email saying that I will have to maintain 2 lakh average balance or pay a penalty if I fail to do so. The email said I should go to a branch if the account has to be closed. Bangalore has only one branch pretty far from where I live. So called up Citi customer care and asked them to close the account based on telephonic request itself. To my surprise, they agreed without any push back and account was closed within 2 days.

Just mind blowing customer service. I am sure another bank would have made me go to the branch. My experience with Citi has been top notch, will definitely miss the hassle free banking experience.

I have the opposite of this experience today. I am having a Citi priority account for 17 years and today I called to close the account. Customer care simply told to visit the branch for account closure. I am not in a position to go to a branch now and even after multiple requests they didn't budge. They told they will arrange a call back from my RM but I don't believe it.

I asked for a complaint number and was promised to send it by SMS and what I got is a query resolved SMS. How things change quickly after the transfer.

[sumathindra]

Originally Posted by thanixravindran

I have the opposite of this experience today. I am having a Citi priority account for 17 years and today I called to close the account.

I have been on Citi since 1996. Any specific reason why you want to close the account? I know they scooted and Axis has taken over however they still are offering the same seamless service especially on the online and mobile app front. Any pointers?

[thanixravindran]

Originally Posted by sumathindra

I have been on Citi since 1996. Any specific reason why you want to close the account? I know they scooted and Axis has taken over however they still are offering the same seamless service especially on the online and mobile app front. Any pointers?

Nothing specific. It is no longer my salary account since 3 years. I stopped using it as primary account too and used the debit card only for fuel rewards with no drama about surcharge.

I left good amount of funds for a specific purpose to avoid the temptation of using it. Now the purpose is realized, I don't have funds to maintain the priority account MAB. So decided to close it. I never have to visit the branch since opening and now they want to see me for closure

You reminded me to print and send the account closure form which I forgot in a week's time

[montsa007]

Hi,

Spouse wants to open a current account, has the following requirements.

Sole proprietorship, with GST.

Here's what is absolutely required (Bare minimum),
Annual Charges : Minimal
Monthly Average Balance : Willing to keep upto 15K (Lower is better )
SMS Alerts : Must (I guess these are mandatory)
Outward & Inward IMPS/UPI Payments : Multiple every day
Transaction Limit : Shouldn't be any, as its a current account

Here's what we don't require
Cash Deposits : Nil (Don't deal in cash)
Cash Withdrawals : Nil (Not required)
Debit Card : Not really required (As we have saving account for withdrawals)
Mobile App Banking : Must (For account statements)
DD/Cheque book/Overdraft/Loan/Home Banking : Not required (Account will be self funded, no external funding required, all transactions will be via UPI)
Any other bells and whistles like lounge access, Dedicated RM, privilege banking for an added fee etc.,

I've checked locally with Axis Bank (Loads of charges, even for outward IMPS), ICICI Bank (Again charges are too many and lots of bells and whistles are being bundled which we don't need).

Could anyone suggest a good alternative?
Don't want to go with Co-Operative banks, had a bad experience in the past.

[Samurai]

Originally Posted by montsa007

I've checked locally with Axis Bank (Loads of charges, even for outward IMPS), ICICI Bank (Again charges are too many and lots of bells and whistles are being bundled which we don't need).

I am surprised. What kind of charges? I have current account with HDFC, and I don't see any charges on a monthly basis.

[montsa007]

Originally Posted by Samurai

I am surprised. What kind of charges? I have current account with HDFC, and I don't see any charges on a monthly basis.

Some banks do charge AMC for the "services" provided over a saving account, which include but are not limited to
-Overdraft facility
-Instant loan approval
-Quick cheque processing
-Dedicated RM and no idea what else.

The charge may be yearly or quarterly, or it could have been a one time account opening charge, it varies bank to bank.

[dailydriver]

A bit off topic for the thread.

In an incident worthy of allround commiseration, a lady has apparently lost 18 lakh rupees kept in cash inside a bank locker, due to termite damage.

Alka Pathak had kept the cash along with jewellery in the locker at the Ramganga Vihar branch of Bank of Baroda. She reportedly saved the money for her daughter's wedding

The bank called her for agreement renewal and KYC verification when she noticed her money was damaged, according to the report. She informed the matter to the branch manager, prompting the bank authorities to launch an investigation

Whatever and however valuable an item is kept inside the locker, I think the bank's liability in terms of locker insurance is limited to one lakh rupees only. Hope there is a possibility of exchanging the damaged notes; is there?

Feel bad for the lady; but she has no one but herself to blame for the fiasco.

[jaysheth]

Originally Posted by dailydriver

A bit off topic for the thread.

In an incident worthy of allround commiseration, a lady has apparently lost 18 lakh rupees kept in cash inside a bank locker, due to termite damage.

Feel bad for the lady; but she has no one but herself to blame for the fiasco.

Keeping cash in bank lockers is not allowed. Sample article:

https://www.money9.com/news/savings/...ed-107623.html

Here is an extremely useful article on significantly enhancing bank locker safety for INR 1000 only. I had shared this knowledge in 2014. Unfortunately there is almost zero awareness and this could be a life saver. Will recommend everyone to go through it.

Respected Mods, please move this write-up to a separate thread if/as you feel appropriate: https://www.jagoinvestor.com/2014/05...re-secure.html It is extremely useful to everyone having bank lockers.

Shocking incidents do happen (e.g. https://timesofindia.indiatimes.com/...w/99004805.cms) and it is totally worth protecting ourselves for an investment of only around INR 1000.

[kannan666]

Originally Posted by dailydriver

In an incident worthy of allround commiseration, a lady has apparently lost 18 lakh rupees kept in cash inside a bank locker, due to termite damage.

In this day & age, why would she keep cash idle in a locker instead of putting it in the bank account itself or in some other investment which would earn good returns? Unless, of course, it is unaccounted (black) money.

[sumathindra]

My 17 year old son has been wanting to open a bank account and I guess its time to get one for him. The dilemma is which bank to choose from? I would any day prefer Citi however now they have stopped new accounts and directing the queries to Axis. Any pointers which Bank should I go for?

[IamNikhil]

Originally Posted by sumathindra

My 17 year old son has been wanting to open a bank account and I guess its time to get one for him. The dilemma is which bank to choose from? I would any day prefer Citi however now they have stopped new accounts and directing the queries to Axis. Any pointers which Bank should I go for?

Would recommend IndusInd or HDFC. IndusInd especially has really worked hard on good customer service experience.

[ACMerchant]

Originally Posted by sumathindra

My 17 year old son has been wanting to open a bank account and I guess its time to get one for him. The dilemma is which bank to choose from? I would any day prefer Citi however now they have stopped new accounts and directing the queries to Axis. Any pointers which Bank should I go for?

My suggestion is IDFC First as can open bank account online.Apart from this bank HDFC Bank is also good.