Debiting unnecessary charges?

Question

I am a Salaried Account Holder In July month i left the organisation. In the month of October bank Deducted Rs. 684 twice for non maintenance of minimum balance from my Account. When contacted they are just asking me to go from this branch to another and in last to my Home Branch. And further said that i need to maintain a minimum amount of Rs 50, 000/-. This is too much to take, they dint even inform me, normally the minimum amount is 10, 000 which i used to maintain, but they say as its ur Ace Salary account minimum amount should be 50, 000;. When asked in my nearest branch, they said to contact home branch. WTF.

Answer 1

Mr Kiran,

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

When you open a Salary account scheme under the offer made by the Bank to the employees of the Corporate, you are eligible to avail all the benefits under the offer as long as Salary credits are coming in the account. If there are no salary credits for three consecutive months, Banks convert salary account to a normal savings account with the requirement of maintenance of AQB/AMB. Since yours was a premium/Ace account, the AQB/AMB requirement would be as per the scheme. But the Bank is supposed to intimate you about conversion of salary account to a normal/acts savings account along with maintenance of AQB/AMB. If you have not been intimated, you may escalate the matter to the nodal officer - grievances whose coordinates (contact) would be available on the Bank's website. If you do not get a satisfactory response from the nodal officer within a reasonable period nor reversal of charges levied, you may approach Banking Ombudsman for resolution.

Regards

Deepak