The normal procedure of maintaining an account is to have a balance of 25000 over a quarter period. Now I have not been able to maintain this balance for numerous reasons, which is not up for debate now. There are charges levied against your account incase this is not maintained.
What is indeed a painful issue is that these levies cannot be seen on the account statement. The balance statement of the account does not reflect this amount, and the account is put on hold for want of payment of these charges.
My issues is that unless I see that there are charges, that i need to pay before i can start using the account again, i cannot do anything. In short, nowhere in the account statement could i see that such a charge is being levied on my account. The least that the account should have showed is an overdraft or a negative balance, which I could resolve by paying. But unless this is not visible to me, i am not in a position to envisage such a hold on my account.
I recently transfered an amount of Rs. 36000 into the account, and issued a cheque for Rs 35000, unassuming that there is such a hold on my account. I was never told of it. The cheque bounced!! and I had to face the embarrasement of not having an honorable cheque, despite having the amount in the account, AND having to pay chq bouncing charges.
I later discovered, that i have to call the customer care to remove this hold, which would further take 5 working days for the process to be completed.
Such shoddy management is nothing short of being called ridiculous! My suggestion to all, take your monies out from this bank if you have already committed such a mistake
I inted to move the courts soon.