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Home Banks Standard Chartered Bank worst bank ever!
S
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8:58 am EST
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Horrible... This is the worst bank for home loans. On the website they say insurance is optional, but once you take the loan, the insurance option becomes mandatory. The talk to you at the security desk, they say it is based on RBI notification, when we ask for details, they say the notification was given verbally. They don't respond to mails, they promise call backs, but never do, Managers are useless group of dumbos. Never take a loan with this bank.

Standard Chartered Bank Sucks!

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41 comments
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A
Mar 19, 2022 10:35 am EDT

@Standard Chartered Bank PK, is the worst bank. One of my transactions was refunded to be on my debit card and even after 5 months, I haven’t received it in my bank. No one answers their helpline after 6pm its not 24/7 all BS.

M
Jun 08, 2014 9:29 pm EDT
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I opened a joint account at SCB to give me local facilities.
When I decided to use online banking SCB then issued a new card but didn't think they should tell me. This card did not arrive. Many months later I attempted to use my current card in Malaysia and it was declined. We then started a battle where SCB would issue me a card and it wouldn't work due to the expiry date. This has happened three times.

I was promised last Friday that a courier would deliver me a new card but nothing, my calls are now no longer being answered and my emails are being read but no reply. This is a shocking level of service. My money is in the bank but I have no access to it!

M
Jun 29, 2011 11:56 am EDT

Since early May ’09, Mr. Vishwanathan the representative of M/s. Standard Chartered Bank, Ahmedabad had been visiting our office quite frequently with a view to capture good business from us. He had offered us many Bank facilities i.e. L/C, Credit facilitation etc.

Apart from this he also offered us one very lucrative scheme at lower rate of interest; especially for import purpose i.e. BUYER’S CREDIT at only 6% rate of Interest.

In the mean time, he explained about the BUYERS CREDIT FACILITIES that under this scheme, the importer means “We” have to submit the documents for remittance of payment to them against Proforma Invoice for advance payment etc. and their Bank will immediately remit such payment to foreign Exporter on our behalf immediately in Dollar currency through their connected bank in that respective country, as they have made such arrangements / tie-up with foreign Banks, and in turn we shall have to make the payment to their bank after 90 days @ of interest of 6% maximum. Thus the importer means “We” can enjoy credit of 90 days @ lowest rate of interest i.e. 6%.

By virtue of such beneficial scheme, we were enticed to avail such Buyers Credit facility. When we applied for such schemes, they have sanctioned us various Bank Facilities as per their letter ET/FPP/001 dated 17/06/2008, for which they had collected an amount of Rs.172075.00 (One lac seventy two thousand and seventy five rupees only) as a application process fees and they have also demanded to keep LIC policies as collateral security with minimum surrender value of Rs.6.21 lacs, which we have surrendered to them.

We have always informed Mr. Vishwanathan, about our existing practice of making remittance of 25%-30% advance against our Chinese supplier’s Proforma Invoice and he has agreed to manage for the same under BUYERS CREDIT scheme for import loan (90 days) scheme.

He asked us about the volume of such import business the frequency thereof. At this juncture we had very vividly informed him the volume of our import business was within the region of 10/15 lacs per month at that time. He had very categorically informed us repeatedly that the bank would club the small requirements of the various buyers to the tune of US$100000.00 for a single transaction and then would arrange for availing this facility to respective clients in proportion of their requirement each single time.

Now, when the time came to take benefit of our Buyers credit facility, we were completely abashed and astonished while our Mr. M.D. Prajapati had telephonic conversation followed by personal visit with Mr. Ravi & Mr. Omprakashji of Standard Chartered Bank on 26th May 2009 at 3.00 p.m. for submitting the documents containing AR-1, Application etc together with a Proforma Invoice of Our (Chinese) Supplier and requested to arrange to remit the 30% amount of US$4977.00 When he flatly refused to do so and informing that it is not possible for their bank to remit such amount either under Buyers Scheme or under import loan saying that the benefit of Buyers Scheme can be availed in the event of making a single transaction of US$ 2.5 lacs and even previous rule for availing this facility was of making a single transaction of US$ 1 lac by a single client.

“You can even judge them by their contradictory statements”

It cannot be ignored to mention that all the above hidden clauses/information they have not given us before making us client whereas they have explained us only after collecting their process charges amount Rs.172075.00 from us. It is undeniable to comment that they (Standard Chartered Bank) were only interested in collecting the process charges and to swindle the clients on one plea or other.

At this phase, we were much embarrassed and left with no any other option but to request them to arrange to refund us the total expenses of Rs.172075.00, which we spent for the application process charges and all our life insurance policies which we have surrendered them as a collateral security may be remitted to us. But, after our vigorous follow ups for the same, they have just neglected our exercises and neither returned the processing fees nor returned our LIC policies till this date.

By the time, we have again tried to call up Mr. Vishwanathan the representative of M/s. Standard Chartered Bank for the matter in question and he agreed to handover the LIC policies to us. When we have deputed our representative to collect the same, again he refused to handover the LIC policies saying that they will send us the same through their legal department as their legal department has received legal notice from our advocate, which they never sent.

D
Aug 09, 2016 10:30 pm EDT

Standard Chartered Customer Care sucks. Also, the grievance redress 'nodal' customer care needs grievance reressal himself. They do not know how to talk to customers. Simply, 'cannot be done, cannot help', is the answer. I had issued a cheque to Standard chartered which has been cleared by standard chartered, but the money did not come in. All I need standard chartered bank to help with is investigate what happened with the cheque & if it came in at all. I was ready to share cheque number. But all they say is that they cannot help, and they weren't even ready to connect me to the concerned department. Very rude, and unhelpful.

A
Jun 10, 2016 7:46 am EDT

I PUT IN WITH THEM IN APRIL 2009 FOR A LOAN
MODIFIATION. AFTER 7 MONTHS OF SENDING PAPER
BACK AND FORTH TO THEM. THEY SENT ME A LETTER
AND SAID THEY COULD NOT HELP ME BECAUSE I DID
NOT MAKE ENOUGH MONEY, SO THEY WOULD NOT
LOWER MY INTEREST RATE THAT WAS 8.5% BUT
I GUESS I WAS MAKING ENOUGH TO PAY THEM EVERY
MONTH WHICH I STILL AM DOING, AT THAT RATE OF
8.5% HOW'S THAT FOR AN ANSWER
THIS IS NOT A FAIR BANK AND YOU SHOULD BE VERY
CAREFUL OF DEALING WITH THEM.

H
Aug 06, 2014 7:05 am EDT

I am a salaried Person. They on verification provided me an Unsecured Loan of Rs. 225000/-. Unfortunately I have lost my previous employment and i am now working on lower payscale. i have requested them to reduce the amount of EMI, since i am not able to pay the amount. now instead of understanding the were now threatning me for dire consequences.

R
Aug 12, 2013 2:40 am EDT

Standard Charteres is the worst bank ever and i agree. Even in Pakistan their customer service is horrible. The female officers there are busy seducing their male colleagues and this is what i felt disgusting. They donot give any attention to the clients and customers. They misbehave and use bad language. I had a terrible and worse experience a week ago at dharampura branch lahore where a lady banker tried to show attitude on me for no reason. She made me wait for two hours and later denied to proceed my request saying that the bank time has been over. ### service! gonna close my account!

T
Jun 03, 2013 12:09 am EDT

Std. Charter Mumbai brach at 23-25 MG Road hasilladvised me to make a 33% on managemnt fees on my 150, 00 ruppees pension fund investment. Be cautious before investing in any funds with the alliance of Std. Charter and Bajaj Allaince. On a total investment of Rs. 450, 000 I was charged a mainenence fee of Rs. 300, 00 over 5 years and my funds grew from 450K to 480K during that period. Avoid investing with them . Worst bank. Biggest cheats. Management is non resposive

A
Nov 21, 2011 8:46 am EST

WORST EXPERIENCE EVER WITH ANY BANK!
Most fraudulent bank every dealt with. The customer care doesn't know how to talk. They even starts abusing and calling names! Really shocking. Run by a system and nothing gets done at branch level. Every thing has to be done by their head office. Even a simple query has to be dealt by the head office. Charges you unnecessary penalties.

ILL-STANDARD CHARTERED BANK!

A
Jun 28, 2011 5:31 pm EDT

STANDARD CHARTERED IS ;'.///? """";/;? BANK.. THIS IS MY SUGGESTION TO THE COMMON INDIAN PEOPLE THAT PLEASE NEVER TAKE ANY TYPE OF LOAN WHETHER IT IS A HOME LOAN, PERSONAL LOAN, VEHICLE LOAN, CREDIT CARD, BUSINESS LOAN ETC...FROM STANDARD CHARTERED...YOU CAN TAKE FROM ANY OTHER FINANCIAL INSTITUTIONS AND BANKS...THIS IS MY PERSONAL EXPERIENCE WITH STANDARD CHARTERED FOR WHICH I HAVE SUFFERED A LOT...AND I JUST WANT TO MAKE BEWARE EVERYONE THAT IF ANYBODY NEED LOAN THEN PLZ DONT APPLY IN STANDARD CHARTERED OTHERWISE U WILL GOING TO SUFFER IN FUTURE...EMLOYEES OF STANDARD CHARTERED MAKE FALSE COMMITMENT TO THEIR CUSTOMERS FOR THEIR BUSINESS..THIS BRITISH BANK IS HORRIBLE..AND PLAY WITH POOR INDIANS EMOTIONS...THIS BANK JUST DONT CARE THEIR CUSTOMERS...BECAUSE FOR THIS BANK BUSINESS IS EVERYTHING...SO I WOULD SUGGEST EVERYBODY NOT TO MAINTAIN ANY TYPE OF RELATIONSHIP WITH THIS WORST BANK OTHERWISE YOU WILL GOING TO FACE HUGE PROBLEM...I ALSO HAVE RELATIONSHIP WITH OTHER INDIAN AND FOREIGN BANKS BUT NEVER FACED ANY TYPE OF PROBLEM..BECAUSE ALL BANKS EXCEPT STANDARD CHARTERED UNDERSTAND THEIR CUSTOMERS PROBLEMS AND CO-OPERATE WITH THEM AND CARE FOR THEM.SO "INDIA" PLEASE BEWARE OF THIS WORST STANDARD CHARTERED BANK...

A
Jun 24, 2011 7:04 pm EDT

THIS BANK IS SHAME FOR BANKING INDUSTRY. NEVER TAKE ANY TYPE OF LOAN FROM STANDARD CHARTERED BANK. STANDARD CHARTERED BANK IS WORST BANK EVER...

M
Jun 11, 2011 4:27 am EDT

I have been a customer of the Standard Chartered Bank in Singapore for 30 plus years. I bought my house through them thus earning them probably a quarter of a million dollars in interest on the loan plus the free use of my cash deposits. About four or five years ago, the bank descided not to give cheque books with counterfoils anymore . I do not know if they did any consumer research but I for one was not happy. Turning to the front of the new style book to enter details is troublesome and easily overlooked. It is also harder to chack on transactions quickly. I requested at the time to continue to use the original style cheque book and this was granted with a few slips ups until May 2010. I then received the new style cheque books and despite writing about six times and returning the cheque books, I got no response. I then visited the branch explaining that I wish to continiue to have the counterfoil type chequebook which I was then still receiving for my two companies also with the Standard Chartered Bank. No help. Despite writing to the Manager himself, I got letters back saying I could not have "customised" cheque books. I explained that I did not want anything they were not already producing. Indeed, if I opened a company with my name as the registered name, immediately I would get the style of chequebook I desired with the right words on it. I was not asking for anything special, just a customer wanting the style of chequ book to which he was accustomed for both private and business banking. I have already warned them that I will change banks but they do not seems to care. I have already starting using one of my other banks more frequently. Maybe I am not wealthy enough for them to worry about losing me. I do feel bitter as an old customer to be treated with indifference. Mr Moore Singapore

V
Apr 25, 2011 1:45 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

Had taken loan against home saver account from Standard Chartered (linked to Base Rate). Realised that they had increased my margin too (which was suppose to be fixed over base rate). On seeking explanation for this, was told cost of funds increase. However any increase in cost of funds in accounted for in the base rate and hence bank cannot arbitrarily increase margin citing this.

Effectively they lure new customers with lucrative rate and 6 months down the line start increasing margin. Never have any relationship with Standard Chartered esp their sales executive Vishal Bhosale and Dinesh Lad.

A
Apr 12, 2011 5:22 pm EDT

last 10 days i was going ur bank and complaing about my account block to realese my salary .every telling dis evening dis evening sure sure .no one will take responsibility .
my account no [protected] .my contact no [protected] .
thanks

A
Apr 11, 2011 2:50 pm EDT
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connect on http://www.facebook.com/pages/Indian-Finance-Industry-frauds/149752168396199?sk=wall and post your comments - unite against such fradulent practices by indian banks

P
Apr 01, 2011 6:52 am EDT

How do I take them to consumer court? They're rude, incompetent and frustrating to work with. I have a hoem loan with them, and the latest is an exec told me that if I had a problem with them I could go to RBI.

P
Apr 01, 2011 6:30 am EDT

They are so terrible with their customers! Am paying extortionate amounts for a home loan and they think they're doing me a favour! I was told by one rude screwball of a customer service guy to go complain to RBI if I had a problem!

A
Mar 14, 2011 11:44 am EDT

Stan Chart is doing a big loot in this country. They should be kicked out of this country. My home loan interest has been increased to 14%, I told them that other banks are charging 9.5 %, the call center girl told me that for new customer s thet also charge 9.5 %, on further arguing she again and again replied the same thing that your rate is floating not fixed, answer to all questions was same. For pre closure they say we will charge 2.5 % instead of 2% written in the sanction letter, on asking why they say terms conditions can be changed any time.
My humble request is show these MNC banks the way out of the country use SBI, PNB, OBC. You will just have difficulty once while getting approval and will be peaceful for all your life.

A
Jan 24, 2011 10:21 am EST
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Standard Chartered Bank @ MALAYSIA - is really terrible. Service sucks, the bank officers are young, experienced and ARROGANT & COCKY! Unbelievable!

J
Dec 21, 2010 2:50 am EST
Verified customer This comment was posted by a verified customer. Learn more

SCB is really the worst bank..I have ever deal with . I have a credir card with them which I never has used and now they put some thousands of charge and closed my credit card and now the most irritating point is they are not even giving me the statment of my card and when ever I call them, they only see is what is the outstaning amount and thet provide no info of what I have spend...staff is bunch of fools having now idea what to say and do when a customre calls. I am wonderinh how SCB is opertaing...it should be banned long back.

A
Oct 17, 2010 5:23 am EDT

Standard Charter UAE is really the worst bank i have ever dealt with. The service and staff are absolutely a disgrace. I sold my car to a lady who had to take a car loan, which she did with standard charter, after registering the car in her name and taking possesion of the vehicle, it took standard charter one month to pay me out. After all of this, it basically came down that standard charter's employees never completed the paperwork correctly from the buyers side, i was lied to almost every day just so that i could stop calling them. If i had not called standard charter i don’t think i would have ever received my money. Banks are quick to ask for interest but if i may ask, should i not have received interest on my money which standard charted kept for 30 days? If you ever do any business with standard charter you must be out of your mind!

A
Sep 20, 2010 10:19 am EDT

HI
To a concern person,
Standard Chartered Bank,
Respected sir, /Mam

Please look in to this matter this is my second letter i have been continuously receiving calls from the collection department. However I informed them that I am facing some heavy financial problem and i lost my job and now I got new job so i just want some time’s mean to say one month grace period so that slowly and steady I can pay the payment. I am not saying that I am not paying I want to use the card but please its a request look in to the matter coz I am getting lots of harassment call even I have a recording of that please look into this matter I want to pay the payment and I want to use the card however its only matter of one month.
You can email me on [email protected]
Waiting for your positive reply
Thanks
Agnel Dsouza

[email protected]

V
Jul 14, 2010 4:52 am EDT

I totally agree that the standard chartered bank is the worst bank and never ever go for any loans with them.

I have opted for the protection plan of Rs 995/- along with my credit card which they said, it has to be paid addition to my first bill amount after my first use. But they had sent me to pay the amount in the very first month itself, before I used it. As I was overseas, I am not aware of the statement and after 6 months they had sent my name to CIBIL without intimating to me.

CIBIL also supports only the banks and they are not taking any necessary actions on banks or validating their reports.

I am going to give complaints against them in ombudsman.

J
Jul 10, 2010 11:24 am EDT

Please correct my e.mail add: sorry

[email protected]

J
Jul 10, 2010 11:22 am EDT

On 09-07-10 i visited your Sufurah Goth Branch at Main University Rd: Karachi Pakistan, for making/issuance a Payment Order/ Bank Check for Rs. 340, 000/=, but staff on counter & Operation manager totally refused for issuance the PO, Bank staff told me that due to our bank policy we are not entertain to walking customers, i think this type of service totally violation of S.B.P. regulations, really i am surprised for this attitude from the staff/officers of standard chartered bank.
Jalal Jawed Baluch
KARACHI.
[email protected]

P
Jul 02, 2010 10:48 am EDT

i have home loan a/c. with standard chartered bank i have deposited Rs.6 lakh for prepayment of loan but scb bank had not given credit of such amount and bank had also withdraw another Rs.6 lakh from my homesaver loan a/c. and after 16 days scb bank had gived credit of such Rs.12 lakh in my homesaver and such types of mistakes happens another twisely.
so pls help me out of such harrashment, otherwise i will go to consumer court and banking ombdusman .

paresh chauhan
[email protected]

B
Jun 18, 2010 2:07 am EDT

Dear Sir/Madam,

My A/c in Fort Mumbai Branch And my comp. is last 2 week ago i given cheque book requist form in Dadar Branch but Se is not Received me.A/c no. [protected]. pls i Requist you imme. action & send my cheque book urgent. waiting Replay.

V
May 08, 2010 10:14 am EDT

SCB is the biggest cheater...I agree. I am also one of the victim. I do not know if there is way to advertise against SCB bad practices. I would definitely like to warn atleast in my network, never ever go to Standard Chartered. SCB can change any condition which you can never imagin. You will ulitimately end up paying more than any other bank on home loan. Can't explain my frustration.

S
Nov 02, 2009 7:21 am EST

The dirtiest bank I have ever dealt with. They are bunch of hoodlums wrongfully entered in to the banking sector. In some bank may be one or two person are bad...
Here the total culture itself is so bad, even hiring the people with Standard Charted experienc will bring disgrace and harm to anywhere they work.

A
Oct 07, 2009 11:21 pm EDT

I second all the notion that Standard Chartered could probably be the worst bank around. I think they try very hard to hire inexperienced, incapable, incompetent people to run their banks at ALL levels. Can you imagine the customer service hotline tells me they cannot see my account information? So I'm left wondering what the heck is the customer service for?

The debt collections department is even worse! Yes.. I do owe them 60 dollars for their imaginary charges and they hound me as if I owe them 600 million dollars and without the 60 dollars the bank will collapse in a second.

Never ever bank with Standard Chartered .. For me ..after I finish paying my business loan, I'll never transact with their bank again. Not savings, not loan, nothing.

V
Sep 11, 2009 5:57 am EDT

Hi,

I am a CA & I have taken a home loan from SCB. Believe me this is not one of the worst bank but the worst bank for home loans. As one of the guy has mentioned SCB does not reduce the interest rate when most of the other banks like SBI, LIC is offering interest rate at 8 to 9%. Not just that but when they change the rate of interest upword i was not even informed. They have reduce the rate after n number of haggling.

I have had the worst experience with SCB. My take is, i will never suggest any of my friends to go to SCB.

my simpity with you existing SCB customers & good luck for folks who are signing an agreement with SCB, be prepared to pay more or haggling :)

Vinay Sutrave

N
Aug 29, 2009 1:36 am EDT

This is that notorious bank which start at first hiring criminals . This bank is shame for Banking Industry .

They are acting like a group of Mafias, not as a Bank.

Why Govt has not yet ban this bank ?

They are more notorious than Taliban .

S
Apr 08, 2009 5:02 pm EDT

lets bring it up to the highest level! Anyone knows the CEO's email?

S
Apr 03, 2009 4:34 am EDT

I agree with all of you. I am also a victim to these incompetent and half knowledge customer care executives. These representative are highly skilled in messing up all the things perfectly with help of their attitude and ###ed intellect . The entire training process looks immature to compete and highly inefficient. Sometime they just hang up on you. They refuse to take complaints or provide interaction ID.

I entirely agree - that SCB has worst process of handling overseas customers. I had to always spend 30-40 minutes on interacting with these dumber. SCB should really look into these issues since all banks ICICI/Citibank provide new procedures to overseas /roaming customers. One cannot update mobile records to international mobile number. Hence one cannot reset his/her Internet banking credentials (username/passoword).

Lots and lots of issue. worst bank indeed.
I hope this SCB Main Branch in England are googling or seeing these complaints and ultimately propagating some help to above concerns and punishments to concern departments which are taking customer time and efforts for granted.

Thanks
frustrated SCB customer

P
Nov 22, 2008 1:35 am EST

Standard Chartered are grade A cheats.

K
Nov 21, 2008 1:11 pm EST

dear
sir/madam, i m kuldeep gupta i have a saving account in standard charted bank in barahkhamba road new delhi 110001.branch .i give the request for close the account .but accont is not close, bank dedect the charges of non maintance charges and other charges, by defolt i brought the reliance I .P .O. my demate account linked tha same saving account.i give the cheque of amount 52000 rs.but i got the I.P.O..of amount.around 30 thousend.after that reliance pay the rest amount through E.C.S. E.C.S. reflact the same account.and bank dedect the amount without intimation . but i have a reciving from the branch. pls help me what can i do...thanks. my contact no. is [protected].

A
Oct 19, 2008 9:28 am EDT

I am from USA and came back to HK for work. When I asked for a ELI for AUD to HKD transaction, the officer mistakenly entered 2 transactions due to poor computer. This seemed simple, so I asked them to cancel the duplicated one but they finally cancelled all transactions. I did not realize this until after 1 month when the deposit was due but I received no interests! This is a worst bank I have ever seen as they internal communication is horrible. I am filing a law suite against SCB as a result since I have all the facts and evident, even the transaction confirmation! But they insisted not to pay my interest.

V
Sep 26, 2008 12:08 am EDT

I have a similar experience with Standard Chartered bank 23/25 M.G.ROAD Mumbai branch.
I have an account there that I did not operate for few years. Now the accoutn is inactive.

I am overseas now and I asked the bank to close the account. The bank won't close the account. they want to come to theire branch to do so. Can you imagine their foolsihness?

I had similar situation with CBI, SBI, HDFC. All thise accounts are already closed and I have received the balance.

It is only the Standard Chartered bank that is reluctant to part with my own money. It is the worst bank I have come across.
This sort of bank can only survive in India or a third world country where they are able to fool the poor public.

On bank manger's request i sent al lmy papers, still they won't close. They say they do not respect a public notary from overseas.
They want me to send them my original passport, driving license etc.

I am sure if a person sends them original these cheats will either lose it or use it for their gains.
I advise boycott this bank. Close all your accounts with them and never advise anybody to have an account with them.

This is a private bank worst than any government organization in India.

Hope, my experience and advise helps my fellow Indians and some of them get spared from this White collar criminal bank Standard Chartered bank.

T
Apr 29, 2008 2:52 am EDT

Dear Sir/Madam,

One of your Bank employee, he(SHIVAMURTHAIAH) recently (apprx.. 1 month) joined to your bank as Assistant Sales Manger, Shivaji Nagar Branch, Bangalore.
He cheated to you, he given fake(duplicate) experience as icici bank executive i.e., 3 yrs.
I am suprised how you give job for this person.

My request is to verify the candidates experience and other details.

R
Apr 19, 2008 2:53 pm EDT

They fleece the Customers by providing life time free credit cards then start imposing some bizarre charges. They are worst among the MNC's. They hire criminals to collect the money from the Cardholders.

A white collar criminal called Rajith Maiti is the recoveries manager in Bangalore and he has got a record for hiring criminals.

Unfortunately this white collar criminal is from IIT Roorkee...

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118 complaints
39 resolved 79 unresolved

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