Fraudulent Charges?

Question

I have a demat account for three years. Suddenly 570/- has been deducted from my salary account and i didn't get any message too in my registered mobile number. At the time of opening this account I was told it's free.So I need faster resolution on this. This is completely unacceptable .
 

Answer 1

Dear Biplab

At the outset, let me clarify that this site is designed by a group of Senior Banking Professionals to assist Bank Customers to provide guidance for resolution of any complain/query in respect of financial services. This site does not belong to any Bank nor a regulator, which may please be noted.

Given you statement, I assume that the Bank might have allowed a free Demat account only for the first 2 years and thereafter levy the charges.  For this, you need to get the arrangement / agreement checked between your employer and the bank.  If the corporate agreement speaks of a free demat account for lifetime, then you should be taking it up with the bank for reversal of the charges.  You haven't mentioned whether the demat account has been used to transact.  If no transaction were carried out, you may ask your bank to first reverse the charges and then close the account, to avoid any such future repetition.  You should also be asking your bank, as to why the debit alert was not received on your mobile, which was very much registered with them.  

RAJA