Holding funds from salary accoun?

Question

As Bank had the full power of our accounts they made a hold of Rs 2707 from my salary account. I had a Jumbo loan which was to be auto debit on 25 Nov from my salary account but i thought it was on 26 Nov so the auto debit failed due to insufficient fund. In Oct the amount was debited only on 26 Oct and this was only my 2nd month payment so i was not aware of the date. On 26 Nov I made a payment through ATM to this Jumbo card account and received acknowledgement through SMS. I was asked to pay through ATM by bank customer care and also received email from them. But even then same amount was debited and put on hold and due to this now my  home loan payment got affected. No one from  can provide me the reason for debiting the amount and holding it. Is it cirrect for a bank as they have access to accounts to hold the fund without any reason?

Answer 1

Dear Aakshi

The reason for holding the amount, as admitted by you, is insufficiency of funds to meet your loan installment on 25/11/2015.  This is a normal banking practice.  One day's delay would not really affect your credibility with the bank.  Do speak to the bank officials to adjust the amount paid through ATM towards the installment and remove the hold on the amount held by them.

RAJA