[sdp1975]

I have an account in Bank of Baroda and about a month ago I received a mail to do my re-KYC. The branch is somewhat far away from my home so I sent the documents by courier and they were delivered on April 11. Now today I got another mail saying that no documents have been received and my account would be frozen if the re-KYC isn’t done. It looks like these government banks don’t bother about what they receive by post.

I’m planning to lodge a complaint on pgportal. Any thoughts or suggestions on how to handle this ?

[revvharder]

5 years back, it was really hard for me to open a bank account without anyone's reference while the 18 year old me had taken up the task to do it without anyone's help.

PNB shooed me away and wanted to me to have a permanent residence proof like electricity bill or water bill to open a savings account and didn't want to open it with aadhar card as address proof.

SBI was similar but Oriental Bank of commerce (OBC) opened it right away and gave me the starter kit by hand which included cheque book and debit card.
Hilarious turn of events, now PNB has takeover OBC's operations so they had to open my account eventually.
Though in the last 3 or 4 years I haven't visited the Home branch but I intend to shift it to Dwarka and with Pnb there is no problem of depositing cash in Non home branch whereas in case of SBI they deny to take deposit at non Home branch and force to use the CDM which charges Rs. 25 for every deposit

Recently opened my account with Bandhan Bank in Sec 12 Dwarka and it's a breeze to operate, there's no drama no lines and everything happens instantly unlike Hdfc or Axis or Kotak which have long lines, no servers at times and everytime I visit Kotak bank Dwarka, I can see someone having argument with staff and a few of them just close their Accounts then & there.

[attinder]

Avoid HDFC - I am struggling to update my email id. It is a cumbersome process and then they deny without specifying any reason.

Avoid Indusind - Multiple daily calls from them for a pre approved loan. They ignore DND and call from multiple numbers so blocking doesn't work.

[warrioraks]

Originally Posted by sdp1975

I’m planning to lodge a complaint on pgportal. Any thoughts or suggestions on how to handle this ?

Try sending an email to branch manager. High chance the email id will be available on bank's website.
This trick has worked for me twice in the past while dealing with SBI. Was very surprising when it happened, but a true story.

[binand]

Originally Posted by sdp1975

I have an account in Bank of Baroda... Any thoughts or suggestions on how to handle this ?

As per RBI rules, every bank is required to have a Grievance Redressal Cell and a Nodal Officer. A quick DDG throws up this URL for BoB:

https://www.bankofbaroda.in/customer...ance-redressal

Banking Ombudsman does not entertain your complaint unless you have worked through the grievance redressal mechanism first.

[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.

[vinu_h]

Folks, you must've come across this article from Axis Bank about One View. I'll allow that this consolidates and gives a single dashboard for all of our accounts - which is very useful. Axis will have almost real time access to our spends and balances etc. Are we comfortable with them monetising our data in exchange for a single view ?

Note - Happy to be corrected.

[androdev]

My regular account has run into KYC problems and it's been suspended. I tried using my secondary account that's with SBI. Today I added a new beneficiary to make an online payment (of above 1 Lakh) and found out that I need to wait 4 days!! They call it cool off period. How can anybody use this bank account in this day and age where you need to wait for 4 days to make an online payment??

[SedateGuy]

Originally Posted by androdev

My regular account has run into KYC problems and it's been suspended. I tried using my secondary account that's with SBI. Today I added a new beneficiary to make an online payment (of above 1 Lakh) and found out that I need to wait 4 days!! They call it cool off period. How can anybody use this bank account in this day and age where you need to wait for 4 days to make an online payment??

It's for your own protection. However you can bypass this if you have Google pay. Pay via using Google pay upto a lac a day.

You can go to the bank branch and waive this cooling off period also.

[androdev]

Originally Posted by SedateGuy

It's for your own protection. However you can bypass this if you have Google pay. Pay via using Google pay upto a lac a day.

Interesting, can I make a single transaction of 1L using google pay? I am assuming this won't be counted towards the beneficiary limit.

You can go to the bank branch and waive this cooling off period also.

From their FAQ, it looked like only beneficiaries added through Branch approval have this cooling off waiver. Online self-approved beneficiaries don't get this benefit. I visited the bank branch to do an RTGS, unfortunately I don't have a cheque book for my account and the branch manager said he can't help me without a cheque (very polite though, full marks to the branch visit experience). He didn't suggest this option of waiving off the cooling period. So can I visit the branch, request the branch manager to waive off the cool-off restriction and then do an online RTGS?

I'm guessing people who use SBI regularly know how to make large online payments to a new beneficiary - waiting for 4 days doesn't make sense at all when it comes to commercial transactions.

Thanks!

[SedateGuy]

Originally Posted by androdev

I'm guessing people who use SBI regularly know how to make large online payments to a new beneficiary - waiting for 4 days doesn't make sense at all when it comes to commercial transactions.

Thanks!

Welcome. I am a happy SBI customer since over a decade. (Ex HDFC)

You can add the beneficiary again and select branch or ATM approval for instant full approval.

[binand]

Originally Posted by androdev

can I make a single transaction of 1L using google pay? I am assuming this won't be counted towards the beneficiary limit.

The underlying platform for UPI transactions is IMPS as I understand it. So your IMPS limits will apply.

[androdev]

Originally Posted by SedateGuy

Welcome. I am a happy SBI customer since over a decade. (Ex HDFC)

I always enjoy visiting SBI branches. I have no relationship (and staff keep changing) but have received excellent support from the branch managers anytime I needed help. I have noticed that SBI staff spend a lot of time patiently solving problems of clients who don't bring much business to them - very unlike private banks where the pleasantness is directly proportional to your bank balance. I mainly use SBI for capital gain accounts as I believe only govt banks can offer those accounts. Just that private banks have an edge when it comes to routine day-to-day usage. God help you if you ever have to contact their customer support over telephone. They compensate by having relationship managers to some customers.

You can add the beneficiary again and select branch or ATM approval for instant full approval.

I thought about it but then do I have to delete the existing beneficiary? I am assuming it won't allow me to add a new beneficiary with the same account number.

Originally Posted by binand

The underlying platform for UPI transactions is IMPS as I understand it. So your IMPS limits will apply.

I'm not sure. Some banks don't offer IMPS to customers but they do offer UPI.

EDIT:
I tried to add the beneficiary with ATM/Branch approval but it said the account already exists. Fair enough. Then I tried to delete the beneficiary to add again but I was not allowed to delete (Beneficiary cannot be deleted in cooling period as the beneficiary is added recently). They are taking this cool off period very seriously :-)

[thanixravindran]

Originally Posted by androdev

From their FAQ, it looked like only beneficiaries added through Branch approval have this cooling off waiver. Online self-approved beneficiaries don't get this benefit. I visited the bank branch to do an RTGS, unfortunately I don't have a cheque book for my account and the branch manager said he can't help me without a cheque (very polite though, full marks to the branch visit experience). He didn't suggest this option of waiving off the cooling period. So can I visit the branch, request the branch manager to waive off the cool-off restriction and then do an online RTGS?

I'm guessing people who use SBI regularly know how to make large online payments to a new beneficiary - waiting for 4 days doesn't make sense at all when it comes to commercial transactions.

Thanks!

Are you sure you cannot do any transaction during cool off period?

Their FAQ tells you can transfer upto 5L in that period in aggregate manner.

https://retail.onlinesbi.sbi/sbijava...0using%20IRATA.

Is it not even showing the beneficiary under transfer funds option?

[binand]

Originally Posted by androdev

I'm not sure. Some banks don't offer IMPS to customers but they do offer UPI.

UPI is envisaged as a common interface to the myriad of electronic payment options in India (hence the name - "Unified Payment Interface").

Of these payment options available, the one that offers instant settlement is IMPS. Hence UPI works off that by default.

Presumably when dealing with banks that don't have IMPS (which ones are these?) UPI falls back to NEFT. UPI's NEFT support has been around for a while too.

Of late UPI has started supporting Rupay - I see promo material in my UPI app about this all the time. And I saw in an ATM I visited recently that one could withdraw cash via UPI without a card, so it seems its NFS support is also live at least for that one bank (PNB or SBI I think, not sure).