Bank locker
M.K.Ganatra
(Querist) 07 March 2013
This query is : Resolved
I am having a locker since long at bank Of Baroda Mulund west branch. The said locker is jointly named with my wife. I pay the rent on time in advance. But I donot have account with them. Last week when I went to operate the locker they informed me that i cannot operate the said locker as I donot have account with them. They asked me to open account with them or else they can seize my locker also.
I have very bad experience with the sevices provided by the same branch. I closed my current accounts in the year 2005 due to poor services.
I asked them to open a account of my wife or daughter from where they can debit the rent if required. But the insist to open the account in my name as i am the first operator of the said locker. They have not sent anything in writing to open the account for so many days.
Please guide.
Regards,
M K Ganatra
ajay sethi
(Expert) 07 March 2013
open savings account . keep minimum balance required . difficult to get a bank locker these days in mumbai . it happens that parties dont pay bank locker rent leaving bank high and dry . hence they want you to keep account with them so that locker charges can be debited to said account
Raj Kumar Makkad
(Expert) 08 March 2013
To keep maximum discipline over black money and like problems, RBI has directed to all banks to allow the facility of locker to only valid account-holders so bank is not at fault and do as advised.
Guest
(Expert) 08 March 2013
Your query is quite interesting. Since you are a prompt payer of the locker rent, Bank cannot insist opening of account in your name particularly when you offered to open account in your other family member's name. My advice is to ask the bank under which Rule of RBI they are imposing the said condition and if you are aggrieved, you may first send a notice to the bank and wait for their reply within 30 days and if you don't receive favourable reply, then take up the matter with the Banking Ombudsman, RBI, Mumbai. Your problem will get easily solved.
Guest
(Expert) 08 March 2013
I would like to differ with the opinion of Mr. Gurunarayana Rao, as every bit of security measures of banking business of any individual bank is not regulated by RBI. The banks themselves have to device their own norms of security measures.
Mr. Rao may probably like to know that intentional or unintentional defaults in payment of bank dues can be expected only from a common man, not from hardened criminals, till they are able to misuse the facility in full, for which security measures are taken by any organisation just to safeguard the interests of common man and the country.
Guest
(Expert) 08 March 2013
@Mr. Ganatra,
It is not understood, what is the hitch for you to open an account with the bank, which has already provided you locker facility in good faith?
prabhakar singh
(Expert) 08 March 2013
At B.O.B FOLLOWING is the policy for lockers.:...
Terms & Conditions
Allotment & Operations of Locker
Locker facility is provided by the bank at its select branches.
For obtaining a Locker at the Bank of Baroda, you must be an account holder with our Bank.
Lockers can be allotted both individually (except minor) as well as jointly.
NRIs do not require any prior permission from the RBI to hire a Locker with the Bank of Baroda.
The lockers will be allotted on first come first served basis to the customers only.
At the time of hiring the locker, bank will obtain a minimum-security deposit in the form of FDR from the lessee for the amount which would cover 3 years rent and the charges for breaking open the locker in case of such eventualities.
The Security Deposit will be kept under Bank’s lien in respect of rentals and other dues on locker services viz. breaking open / replacement of lock in case of loss of keys etc.
An acknowledgement will be issued by the bank for fixed deposit to be kept as security deposit.
The hirer of the locker will be provided the copy of the agreement i.e. 'Memorandum of Letting' by the bank.
Loss of key should be immediately informed to the Branch. The bank shall not be responsible for any loss. Charges for opening the locker, or replacing the lost key, and for changing the lock shall be payable by the Renter/s.
With standing instruction, the rent may be paid from the deposit account of the hirer on due date.
The Renter is required to operate the locker at least once in every six months and if the locker remains unoperated for more than a year from the last date of operation then the Bank will have a right to cancel the allotment of the locker by giving a notice for security reasons and treat the Renter/s as a defaulter, notwithstanding that the rent has been paid up to date.
The locker will be operated during the specified timing displayed at the branches.
Guest
(Expert) 08 March 2013
Naturally, if a person is not a customer of the bank, he cannot expect any facility from bank.
Raj Kumar Makkad
(Expert) 11 March 2013
Banker is right in its approach in the light of relevant rules.
RAJU O.F.,
(Expert) 15 March 2013
If you want to continue to operate the locker, open an account with the said bank, since such facilities are available only to its customers.
