bank deduction of program management fee?

Question

Bank executives are explaining for what reason it is deducting and they not explaining why it is not informed to the customers. bank started these kind cheap things now a day. should tell the reason why this is not informed to the customer earlier. Moreover  bank telling "host of exclusive privileges" they are not giving it for maintaining small amount like 1, 000 as minimum balance. Already they charged for alert messages. Last year also they hiked the locker fee without any information. Please reply properly.

Answer 1

Dear Dinesh

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.

If bank is making certain deductions, which have not been authorized by you, the best course would be to handover a written complaint to the home branch, seeking clarification regarding the debits.  Once it is in writing, the home branch would be under obligation to respond to you.  Once the bank reverts with the details of charges / clarifies the reason for such debits, you need to decide whether their response is to your satisfaction and if not may further email your grievance to the Nodal Officer.  The contact details of the Nodal Officer would be available on Bank's website.  The Nodal Officer would ensure a proper response to your issue.

RAJA