Deduction of smab charges without prior intimation?

Question

This is Pawan Kumar, holding an saving ac at Gurgaon - Sushant Lok Branch, Haryana My complaint is related to the minimum account balance charges, that bank has debited from my account without even notifying there policy changes from last 10 Months bank is simply debiting amount from my account. I get monthly statements but I have never got any information about the policy changes. I think bank is not even following the guidelines mentioned by RBI. I do not have any mail informing about this SMAB charges. I have no information from. bank No call, no mail and no message. Now that I understand that bank has not informed me about change of balance system and if charges deducted are not credited back to my account then  

* I will be closing my account with no other option but to take this matter to higher authorities and Banking Ombudsman as this is CLEAR VIOLATION of Rule 8(1)(k) i.e. levying of charges without adequate prior notice to the customer & of The Banking Ombudsman Scheme 2006. Please find the below details for all the transactions made by bank. I tried to get in touch with the manager but they say we can't do anything about this. Please do the needful to return back my money. Regards, Pawan Kumar

Answer 1

Dear Pawan

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.

Before initiating any changes in the scheme, the banks would always intimate their customers in advance (at least a month), update their website, put up notices in branches and print brochures.  You stated that the bank was levying the SMAB charges for the last 10 months.  Couldn't understand as to why you kept quiet for 10 months.  Banks also indicate the changes in their monthly/quarterly statements too.  

However, if you still feel that the bank has not informed you regarding the change in the monthly average balance, may write to the Nodal Officer of the bank, whose details would be available on their website.  If you are not satisfied with the response of the bank, as stated, you may consider complaining to Banking Ombudsman.

RAJA