Loss of money through debit sweep.?

Question

My name is Chandan Singh and my account at Moulali, Branch. Today, 21-01-2016 Morning, I have received a sms on my phone and then, I checked my account through internet banking and found that I lost my balance of Rs. 34, 000/- through DEBIT SWEEP on 21-01-2016. I am totally shocked to see my available balance. I have internet banking facility for my above account.
 

Answer 1

Dear Chandan

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

Could not get, what you meant by 'Debit Sweep'.  Please speak to your relationship officer / home branch manager to understand the transaction details.  It could be a transfer to create a Fixed Deposit.  Trust, you have not shared your internet banking confidential credentials with anyone.  Once making sure that the debit was not initiated by you, may complain to the bank / branch for reversal of the amount.  If it transpires to be a internet online debit, you may have to file an FIR with Cyber Crime Police.

RAJA

Answer 2

Dear Chandan Singh,

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 complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

As regards your complaint, please bear in mind that bank cannot debit your account without your express authority.First, please contact your bank's phone banking centre and seek clarification on the debit transaction. It is possible that the amount has been transferred to Fixed Deposit under the arrangement you had agreed upon but  without understanding the product features. I Alternatively, you can contact your home branch for clarification and decide the next course of action.

Regards

 

J R Mohandas