Offshore investments
I have an NRI account with HDFC Bank Kollam Branch and was having all my life saving for the last 20 years that is above 2 Cr. There is a criminal gang working in association with HDFC Abu Dhabi Branch which includes the Relation Ship Manager Anu Joy and Radheep Radhakrishnan from Abu Dhabi Branch. This gang will approach NRI having considerable bank balance and offer investment options through Abu Dhabi Branch. If you are in their contact all your savings will be nullified to zero within a short span of less than one year. What I mean I lost all my money and I have to pump more money to get release from them. They are not even worth of local chit companies and absolutely no security for your hard earned money. This is type of a professional financial fraud group. The most deadly part is the harassment after loosing your money. So many customers are affected and ruined their life due to this criminals. Initially they will inquire the details of all your assets and they will make a plan to loot the entire money. They will grow with your money and likely you will be at street. Beware of such fraud gang working under the shelter of HDFC and keep away from such sadist gang. Mostly they are concentrating on NRI having enough bank balance. There are many fraud gang working inside this group and uplifting their family with other hard earned money. Let god decide their punishment. In order to save your life please keep away from such notorious gang contacts. They don't feel the pain of losing the life savings as they are like parasites living with others money. Today me and their hands are spreading for other to grow their family.
HDFC bank investment is not even worth as a local cooperative bank.
There are trained financial fraud personnel named Relationship Managers ( Radheep Radhakrishnan in my case) will explain that highest secure investment option is Bond investment. He will promise that you don't have to invest anything further with the bank. Only thing you have to provide security of your Indian NRE fixed deposit and against they will give 2 to 3 times loan with only additional 0.5% interest rate / year whereas you will get 5% return in addition to Indian NRE FD interest rate. Once you are trapped they will increase the loan interest rate to above 6% and you will not be in a position to close the bond as the price will be drastically down. They will keep on encouraging you stating that this is a market condition and you will get entire money upon maturity. HDFC or Bond issuer don't declare the maturity date and you forced to pay the high interest rate. One fine morning you will get a communication from HDFC stating that they will not finance for this bond anymore and pay back the money invested and accordingly they will liquidate all your NRE FD without your knowledge and block all your assets with the Bank. All your savings will be sucked by this criminals. Once you reached this stage the harassment will be extreme level and force the investor to end his life.
We have complained to all levels in HDFC and below is the response from HDFC MD which is self explanatory.
At the outset we regret the inconvenience caused to you.
Please find below the extracts of the Sanction letter and master agreements consented by you, which clearly specifies that the client is availing of the investments out of his own free will and after having obtained independent professional legal and tax advice and about the AT1 risks.
Extracts from Sanction letter.
3. Broad Terms and Conditions applicable to Investments:
“3.1 The Client(s) are aware that their investment(s) in Mutual Funds/Bonds, as more specifically detailed under Schedule 1 hereof establishes a Mutual Funds/Bonds Investment sub-account under the base master account with the holding pattern as provided under Schedule 1 hereof. This Call Account is opened on single/jointly/either or anyone basis only. The Client(s) hereby authorize the Bank to debit all such charges, fees,. amounts as may be required pursuant to the Master Agreement and/or this Sanction Letter from the Call Account. 3.2 The Client acknowledges and agrees that prior to any Investments pursuant to Sanction Letter, the Client has fully read and understood/ shall fully read and understand the offer/scheme related documents including the offering circular, pricing supplement, prospectus, information memorandum, private placement memorandum and other relevant documents, and its amendments from time to time, for each of the mutual funds/bonds/ securities specified in Schedule 1 hereof, and is executing this Sanction Letter to avail of the Investment Services out of his own free will and after having obtained independent professional legal and tax advice. The Client agrees that each of the Investments are subject to the terms, conditions, rules, regulations and risks as contained in the aforesaid documents and agree to abide by and bound by the same. 3.3 The Client(s) acknowledges that in the event of any instructions pertaining to cancelation by the Client(s), the Bank may charge a fee for cancellation of such purchase. “
"In event The Borrower has availed this facility against the security issued by OMAN GOVERNMENT INTERNATIONAL BOND, KINGDOM OF BAHRAIN, HSBC Holdings PLC HPCL - MITTAL ENERGY LTD and STANDARD CHARTERED PLC The Borrower irrevocably authorizes the Bank, at its sole discretion, to call back the loan any time. In case of multi asset income funds if the equity allocation in the portfolio exceeds 50%, the fund will be classified as equity fund. In such instances bank may raise a margin call on The Borrower to bring back the LTV to 55%. Incase rate of borrowings on loans is linked to LIBOR, then the level of LIBOR used for fixing the rate of borrowing would be at the sole discretion of the bank and the same would be binding on The Borrower. Please Note - "Contingent Convertibles" (CoCo's)/Additional Tier 1's (AT1's) are perpetual high-risk Instruments associated with higher price volatility and lower liquidity. Generally, these instruments carry covenants whereby the issuers of these instruments may cancel the payment of coupons (temporarily or permanently), force a conversion to equity, or in dire situations, write the debt down to zero on trigger of predefined event or based on regulator's discretion. In such cases, the Clients are exposed to high risk of witnessing significant erosion in the principal value of their instruments/loss of coupon. Clients may verify and satisfy themselves on the specific covenants of the issue under consideration."
Extracts from Master service Agreement.
“4. DISCLOSURE OF RISKS The Client understands and confirms that the Bank is not providing any form of financial planning and investment advisory services i.e. the Bank is not providing any advice relating to investing in, purchasing, selling or otherwise dealing in securities or investment products, and advice on investments portfolio containing securities or investment products, whether in written, oral or through any other means of communication for the benefit of the Client and which shall include not providing any analysis of Clients’ current financial situations, identification of his financial goals, and developing and recommending financial strategies to realise such goals. The Bank under this Master Agreement is acting as an agent to the Client and is investing and doing divestments, sale, or redemption of any of the Investments solely on the basis of Clients Instructions to the Bank. The Client understands that apart from the general risks of investing in the market, since the mutual funds will be investing on behalf of the Client in certain securities, the risks associated with such securities are also highlighted by the Bank under this Clause. In view of the aforesaid, in all cases, during the course of the Client’s Relationship with the Bank, the Client agrees, understands and undertakes that he is aware and that he shall inform himself of the risks generally pertaining to the Investments including country risk, economic and political risks, liquidity risks, concentration risks, foreign exchange risks, market risks, regulatory and legal risks, capital risks, settlement and custody risks and derivative risks, and, in particular, the following risk characteristics:”
“4.1.7. Securities other than principal-protected or principal guaranteed products are subject to investment risks including the possible loss of the entire principal amount invested. Securities that are principal-protected or principal guaranteed are designed to be held until maturity and early termination is likely to result in losses on the
Investment. The said Securities are not guaranteed/ covered by the Bank or its affiliates or the Central Bank of Bahrain. 4.1.8. Settlement of the purchase of instruments, their delivery, interest payments and repayment of instruments held to maturity may be dependent on the financial and other ability of the Issuer to settle or deliver such instruments and may further be subject to any intervening circumstances such as governmental action or legal restrictions, some of which may affect the currency in which the instrument is denominated. 4.1.9. Incase of a distress redemption by the Bank where the Security is liquidated in the secondary market, the value realized from such sale may be less. This may result in a capital loss to the client. Further incase of adverse market conditions/event due to which Bank faces liquidity constraints, the Bank reserves the right to recall the Facility/ not renew the Facility. In such an instance, the Client will have to repay the Facility from his own funds”
17.” CONSOLIDATION, SET-OFF AND CONVERSION The Bank shall also have a right to create a charge/ lien over the amounts lying to the credit of the Client in the Call Account and any other accounts held by the Client with the Bank, and shall be entitled to, without prior notice to the Client, set-off or transfer all or part of such amounts from all or any such accounts of the Client, in or towards the repayment of any part of the Facility or for discharge of any Secured Obligations or any other outstanding payments due under this Master Agreement. In addition to any general lien or similar rights to which the Bank as banker may at any time be entitled by Applicable Law or otherwise, the Bank shall be at liberty and is hereby authorised and empowered at any time and from time to time without notice or reference to the Client to combine or consolidate any and all of the accounts (notwithstanding that any of the deposits held therein have not matured or that any of the special conditions applicable to such deposits have not been satisfied) of the Client with the Bank (if the Client consists of more than one person, whether in the sole name of one of the Clients or in the joint names of the Clients or any two or more of them) and set-off or transfer any sum of moneys standing to the credit of any one or more of such accounts in or towards satisfaction of any of the liabilities of the Client to the Bank on any other account or in any respect, whether such liabilities be actual or contingent, primary or collateral and/or joint or several, and the Bank may at any time at its discretion convert the moneys standing to the credit of any of such accounts into any currency by any means at the Bank's disposal and at the Bank's buying or selling rate applicable at the time of passing the entry for the purpose of setting off as aforesaid.”
The RM has confirmed that, he has not received any sell request for the Credit Suisse bonds from your registered email ID prior to the writing down event of the Credit Suisse bonds took place. Also request you to refer the above-mentioned point no 3.2 in the sanction letter, which clearly specifies that the client is availing of the investments out of his own free will and after having obtained independent professional legal and tax advice.
17. CONSOLIDATION, SET-OFF AND CONVERSION
“The Bank shall also have a right to create a charge/ lien over the amounts lying to the credit of the Client in theCall Account and any other accounts held by the Client with the Bank, and shall be entitled to, without prior notice to the Client, set-off or transfer all or part of such amounts from all or any such accounts of the Client, in or towards the repayment of any part of the Facility or for discharge of any Secured Obligations or any other outstanding payments due under this Master Agreement. In addition to any general lien or similar rights to which the Bank as banker may at any time be entitled by Applicable Law or otherwise, the Bank shall be at liberty and is hereby. Authorised and empowered at any time and from time to time without notice or reference to the Client to combine or consolidate any and all of the accounts.(Notwithstanding that any of the deposits held therein have not matured or that any of the special conditions applicable to such deposits have not been satisfied) of the Client with the Bank (if the Client consists of more than one person, whether in the sole name of one of the Clients or in the joint names of the Clients or any two or more of them) and set-off or transfer any sum of moneys standing to the credit of any one or more of such accounts in or towards satisfaction of any of the liabilities of the Client to the Bank on any other account or in any respect, whether such liabilities be actual or contingent, primary, or collateral and/or joint or several, and the Bank may at any time at its discretion convert the moneys standing to the credit of any of such accounts into any currency by any means at the Bank's disposal and at the Bank’s buying or selling rate applicable at the time of passing the entry for the purpose of setting off as aforesaid.”
Consider your money is lost with HDFC offshore investments.
HDFC Keshtopur Kolkata shows lack of cooperation regarding withdrawal and closure of current a/c
I, Nilanjana De, have a current a/c in the name of Spead Your Wings Music Foundation, with HDFC Keshtopur, Kolkata branch. It is lying dormant for years since the NGO is non-existent (not re-registered after the first year of its operations) in 2014.
On 21st March 2023, I received a mail from HDFC asking me to declare beneficial owners of the dormant a/c. A few days prior to receiving this email, I had received a call from my virtual relationship manager Mr Shamik Chakraborty regarding the same.
After receiving the mail, Shamik effectively guided me to go to the branch, show the documents and explain the situation to the bank.
I took all the documents to the branch and showed it to Ms Prerna Pandey, Asst. Manager, HDFC, Keshtopur, Kolkata.
I was the Founder Secretary of the NGO. The a/c had been opened and had three more trustees were the authorised signatories: Ananya De, my sister was the Asst. Secretary, and two more people were there with whom I am not in touch since mid-2020. One of them was the Treasurer whose resignation letter (enclosed with the email) I had tried to show it to Prerna. She refused to see all the other documents that I was carrying as per Shamik's guidance. She said that it is not required because as per her, Shamik being the "third party relationship manager was not aware of the internal policies".
Being the founder of the NGO, I had invested a good amount for my personal account but ultimately could not continue with my initiative, and the a/c was lying dormant for years.
Prerna Pandey gave me two solutions:
(1) To close the account and she would give a DD in the name of the NGO, which doesn't exist. Once again I told her that the NGO is non-existent and I am not in touch with the other two people since the time I resigned from the company in mid-2020.
So she smiled and gave the 2nd solution, but she went on harping on the 1st solution. Basically, she was reluctant to give me my money.
(2) The 2nd solution was to activate the dormant account by giving a chq of ₹10/- from some account and make the status active. After that we could withdraw the amount that's lying in the account. After that I could close the account with the form that she gave us.
Again I had told her that it would be difficult to get the signatures of the other two ex-members since I am not in touch with them since mid-2020 after I left my job.
Still I did as was instructed by Prerna and Shamik, and deposited a chq of ₹10/- to activate the dormant account. Now after the account got activated, I got in touch with Shamik regarding the next step. He checked and found out that Prerna has activated the account but kept it in the "no debit" mode, and supposedly have said that I had not submitted the required documents.
I had repeatedly mentioned this problem to Ms Prerna Pandey. If HDFC can't come up with a solution then why did the lady ask me to activate the dormant account, withdraw the money and close it?
I knew that she would make things difficult. What Prerna's doing now is not a process-oriented behaviour. She is simply refusing to co-operate in my case. Probably, she would have cooperated if there was no money lying in the account. Well, I am not surprised at her lack of cooperation since I was observing her unnecessary rude attitude towards her junior colleagues in front of us, the customers.
I don't know from which angle she's perceiving the entire situation. The amount that is lying in the account is a paltry one, if I am not mistaken. I don't know if she's thinking that the small amount would hugely contribute to HDFC's profit margins if she stops the withdrawal, as I won't be able to get the signatures of the other two people on the closure form. I can only get the signature of my sister Ananya De.
The bank may choose to co-operate or not co-operate with me but one thing is for sure, in future, I would discourage people to deal with HDFC because the private banks and institutions help us customers to easily get accounts but create difficulties for us during the time of account closure especially when there's this kind of a weird situation, as mine.
Date of experience: March 31, 2023
Regarding reliving letter
have worked as the Assistant manager at Hdfc bank Ltd company. I am writing this mail to inform you that I haven't received my relieving letter yet. I had sent in my resignation letter on 4th November, 2022. My last day with the company was 1st December, 2022.kindly request you please help for me the relieving letter .Please give proper solution, No proper respond from their side
Emi card complaint
I am using a HDFC EMI card, few months back I have made the full payment but the EMI continued. I called the customer support team to check on this but I was informed that they can't do anything about it. I was not informed that it has to be closed by calling the customer support. The bank isn't taking any step to revoke the interests and charges. I want this to be sorted at the earliest. I had paid all my dues.
grievance.[protected]@hdfcbank.com
Desired outcome: I want my money back which I paid
I have been overcharged, I paid all my dues a few months back but was still charged. I contacted customer support and no help from their end. Please avoid banking with HDFC a worst ever bank that doesn't care about its own customers. They always have hidden charges on the statements, please don't apply for any cards from HDFC.
Forex card
I placed an order with David Jones Australia for a Philips 7000 series trimmer. On the next day the company cancelled the order as the item was not in stock.
I was told by David Jones customer care that the refund had been processed and it was my bank that's not approving the transaction.
The amount is $170.10 AUD and the order ID is [protected].
Message from David Jones:
"Hi my name is Gita, from David Jones Customer Services and I will be assisting you with your enquiry today. I have checked your order, and can see that we have been unable to validate some details in your order. With that in mind, we have cancelled your order. Please note that as your order has been cancelled prior to the capture of the order, no funds have been withdrawn, just made temporarily unavailable. Therefore, the money may still appear in your account as pending transaction which is usually released by your bank within 10 business days, giving you a full access to the funds again. Hope this provides you with some assistance. If there is anything else we may assist you with, please do not hesitate to contact us again 🙂"
It has been 13 days since the order was cancelled.
Account closing - issar investments india private limited
Account No.[protected]
I have subitted all documentation to HDFC Bank, Road No.1, Banjara Hills on 8 April 2022 to close the account. I have acknowledgement from the bank.
Again today, 11 April 2022 I requested a closing statement of my account. No Communication and no response.
It is very difficult to deal with HDFC Bank employees.
How long does it take to get a bank closing statement?
Desired outcome: I want my Bank closing statement from April 1,2021 to April 11,2022 as soon as possible.
Money not credit to Forex Card
I was trying to load amount of EUR 200 in my HDFC forex card on 6th Feb 2022.
The money was debited from my HDFC account but was not credited to the Forex Card.
Please help asap.
HDFC transaction Reference Number : 629899
Demat
Have a DEMAT A/C with HDFC Bank. client No.[protected]
For years, HDFC was charging me Rs.885 for that DEMAT A/C with those suspended 3, 000 UNIWORTH shares. In 2019 when I complained here, they refunded the amount 13 November 2019.
Now this year, they began charging me Rs.885.
My emails to the so-called Relationship Manager no reply.
Desired outcome: Refund unjustified charges
Netbanking
The time-out for HDFC bank is way too less. It automatically signs me out of the session every time I look to do something.
Apart from this, the credit card management options are not very user-friendly. I am not able to see the Spends of my current cycle. Also the rewards associated with my purchases are not mapped because of which I never i get to understand where & how my rewards are getting generated
Card services not working - HDFC bank
I need transaction details for my below account with updates. My cards haven't been working for the last 2 weeks. None of my accounts are accessible, please help me access the account with following details:
Aadhar card : [protected]
Pan number : ABHSD1234E
Account number : [protected]
Credit card number : [protected]
Please help fix this issue as soon as possible as it impacts my work in a very serious manner.
Savings account
I am not able to login to mobile banking App, I have written email, went to branch, however no response so far, they keep on saying because of COVID-19, staff is less and we are working on it and we will resolve your issue as soon as possible, we are trying our best to resolve the issue.
I want to open account with this details there is no procedure on your website
Aadhar card : 1234/5678/1234
Pan number : PPHSD-1234-E
Account number : [protected]
Credit card number : 1234/8889/1234/3522
Account opening
"I am not able to login to mobile banking App, I have written email, went to branch, however no response so far, they keep on saying because of COVID-19, staff is less and we are working on it and we will resolve your issue as soon as possible, we are trying our best to resolve the issue.
I am stock investor and need mobile app to do trading as i travel a lot.
I want to open account with this details there is no procedure on your website
Aadhar card : 1234/5678/1234
Pan number : PPHSD-1234-E
Account number : [protected]
Credit card number : 1234/8889/1234/3522
Mobile banking app
I am not able to login to mobile banking App, I have written email, went to branch, however no response so far, they keep on saying because of COVID-19, staff is less and we are working on it and we will resolve your issue as soon as possible, we are trying our best to resolve the issue.
I am stock investor and need mobile app to do trading as i travel a lot.
done
HDFC bank netbanking
The netbanking facility is too slow and I cannot get any transactions done from there. I've heard multiple complaints from other folks as well. For any service requests like changing pins or replacing cards, it has to be done in person. While using netbanking on 3rd party apps, I am logged out each time an attempt is made to complete payment. This facility is pretty much unhelpful.
Home loan services
I'm not happy with the services offered by HDFC bank - the amount offered by the sales guy was much higher than what was given to me on paper. The bank pursued this for weeks and then did not follow up when I actually gave my go-ahead. Disappointed with the services. I did not even get my loan approved. They randomly rejected my documents and did not quote a valid reason.
Credit card types and charges
Please let me know the types and charges of the credit cards as i am not able to find it on website.
Desired outcome: ok
Services
This bank has been pestering me since ages to go for multiple services. When I finally went for a loan, they took their own sweet time and then eventually did not even approve it. Throughout I was reassured of the loan getting approved and therefore never went to any other bank/ lending service. And now I'm stuck with no money for my business. Terrible service from this bank. I'm very unhappy.
Mobile banking
My mobile app hasn't been working properly for the last few weeks. On repeatedly contacting the bank, the have re-routed me to multiple people or teams each time, with no satisfactory resolution. I'm not able to do basic banking functions and all my work is stuck. This is really disappointing for such a bank. Will not sign up for any more services or have my accounts here.
Mobile banking
I am not able to login to mobile banking App, I have return email, went I to branch, however no response so far, they keep on saying, because of COVID-19, staff is less and we are working on it and we will resolve your issue as soon as possible, we are trying out best resolve the issue.
I am a stock investor and need mobile app to do trading as I travel a lot
I am complaining about bank branch manager and cluster head and other staff do fraud and unethical behavior
I am an ex employee of HDFC Bank (EMP code s44907) I worked for 5month and left the job on 29th March 2021. I was at the position of teller (cashier) there. I worked there with no cash sorting machine and cash counting machine. So on 8th feb2021 there was a shortage of rs50000 to occur at the telly my cash. We were three cashier there on that counter. In which I don't have my cash machine. I tried to find out my cash, but nothing can be found. But we analyze that only a packet of 500 is missing. When I said lets check camera we can found this big mistake mine.
Guess what will happen to me
No camera was working in branch I mean not a single camera was working.
Everyone was aware of camera. Camera was not working from last 4-5 working days. On which ground camera are not working.
Anyone can do fraud to me at that time. But BM said and BOM said this is all your fault. Rm, BOM, BM anyone has permission to come on cash counter.
The fraud is from bank side against me on which behalf they said it is all your mistake and you have to pay this. Camera is the crucial thing in a bank which is open 24×7. Branch manager Sanjeev Sharma cluster head Kapil Bansal and Bom Sunaina all are one they just harassed me at that time.
I just want my justice. Take strict action against them. What if there is a shortage of 1 lakh 2 lakh. Whenever I said I don't have my cash machine I have to go on other country to my cash they start laughing and said apko krna hoga aise hi dusro ki seat p jakr cash count krlo. Bulk of cash I received and took that and count on other counter somehow my cash wad mixed with them no one knows. But how can we found this bcoz camera was not working...
Just tell me why the hell camera was not working.
Just give my 50k return or take some strict action against them.
Thankuu
Regards
Shagun Gupta
Emp code s44907
Desired outcome: Just want take strict action against them or return my cash back
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Pls contact me on 123rkrk123@gmail.com I have similar experience