Applying and deducting wrong financial charges?

Question

I am Dhaneshwar Singh, I have recently opened a pension account in Bank,at the time of opening they said it is a zero balance account though it is a pension account. but now the Bank is deducting Rs. 250 every month for not maintaining the minimum balance. I have made my representation to the bank branch manager three times by visiting the branch itself and the manager assured me every time that the money will not deduct from next month and he also assured me that the deducted money will be refunded in your account. The solution for this matter would only be the refund of the deducted amount.

Answer 1

Dear Dhaneshwar

Every Bank in general offer a 'zero' average balance for Pension accounts and the monthly pension is also required to be credited by the respective bank.  It is wrong on the part of the bank to deduct charges towards non-maintenance of minimum average balance.  Please complain in writing to the Bank/Branch Manager under proper acknowledgement.  If proper and positive response is not forthcoming, you may further take it up with their management / banking ombudsman, the process of which is as follows.

1.    Go to your Bank’s website and search for grievance redressal (or similar name) button and submit your complaint online.

2.    If you do not receive any reply / satisfactory reply within 10 days, lodge your complaint with the Nodal officer of the Bank (either through email or letter)

3.    If you do not receive any reply / satisfactory reply within 10 days from the Nodal officer, lodge your complaint with the Principal Nodal officer of the Bank (either through email or letter)

4.     If you are still not satisfied with the reply / do not receive reply from the Principal Nodal officer within 10 days, lodge your complaint with the Banking Ombudsman (either through letter or email)

RAJA