DP charges - 57325610 DP CHGS TILL SEP-15?

Question

I am RAVINDRA VISHWAKARMA. 570.00 Rupees has been deducted from my account as (57325610 DP CHGS TILL SEP-15) DP charges on 29/10/2015. I have never activated and used my Demat account till now. There was no prior notice.I haven't received any deduction message to my mobile. I need justice and my money back immediately.My Account Number is xxxxxxxxx1542.

Answer 1

Dear Ravindra

At the outset, let me clarify that this site is designed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any query / complaint / grievance in respect of financial services.  This site does not belong to any Bank or a Regulator, which may please be noted.

You have not denied opening a Demat account.  Notwithstanding that you have neither activated the Demat account nor used the same till date, the annual maintenance charges would have been levied, which is a normal practice by banks. However, if you do not need the Demat account, do represent accordingly to the bank asking for refund of the charges and closure of the account.  The bank might consider and in the absence, you may take it up further as per the appended process.

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