ECS Return Charge?

Question

Dear Sir, From last 17 years I have Salary account in your bank. I use ESC facilities on every 28th for LIC premium. On every 28th my LIC premium debited through ECS for Rs. 5375/-. (16ECS) On 28th Feb 2016, due to some social problem I could not maintain above balance. As a result your bank has charge Rs.12187/- as ECS Return Charge. I have already given request letter in Law Garden Branch & three times visited to solve this issue, but till it is pending. Its my humble request to return amount, so I can manage my son's fees of 12th Science. Hope you understand the situation & co-operate.
Regards, 
JALPESH THAKKER

Answer 1

Dear Jalpesh,

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.

Your claim that your bank recovered  Rs.12187/- towards ECS return charges  for a single default of Rs.5375/- on 28th February 2016 does not seem to convey the correct picture for any meaningful guidance. If you have taken the particular Life Policy through any agent or if you know any LIC agent  in your friends circle, approach him to know the factual position with regard to arrears including late fee etc and settle directly with LIC. Your Bank has nothing to do with this process.

As far as the recovery of Rs.12187/- I suggest you to please visit your branch to ascertain the details and settle across the table.

Regards

 

J R Mohandas