Bank Current account penalty problem
R.Manoharan
(Querist) 16 April 2010
This query is : Resolved
I have opened a current account with a opening balance of Rs.10000 with SBI bank in my town for the purpose of exports.But i got no export orders.I have not checked my account for nearly one year.Now on 16.4.10,I checked my account and the banker told me that only Rs.4400 is in the balance.I shocked and asked him the clarification.He told that Rs.550 would be deducted from my account every year for some charges and as a result, minimum balance(10000-550=9450)was not maintained.A penalty of Rs.1000 for every three months imposed and the balance reduced to Rs.4400 till date.
But no information was given to me about the penalty for all these time.Though i failed to check my account,the bankers haven't informed me about imposing penalty.I have provided my address,contact number and email id to them.If they informed me at the first penalty itself,i would have definitely corrected my minimum balance.Is there any banking rule that only the account holders should themselves becareful and the bankers have no responsibility to send intimations to the clients.
May i approach District consumer forum for this problem? Should i maintain or close my account before approacing the consumer forum?
It would be helpful,if an expert answers my query as soon as possible.
Sincerely
R.Manoharan.
Parveen Kr. Aggarwal
(Expert) 16 April 2010
First obtain copy of your agreement entered by you with the bank while opening the account. The agreement must be bearing your signatures. Copy can be obtained by making an application under the RTI Act. If the agreement provides for charging of such amounts by the bank, you cannot be said to have any cause of action against the bank. Otherwise, you may avail your remedy either by filing complaint before the Consumer Forum, Permanent Lok Adalat Public Utility Services, Banking Ombudsman or Civil Court.
R.Manoharan
(Querist) 17 April 2010
For not maintaining the minimum balance,usualy banks impose penalty.But my query is whether they have no responsibility to communicate to the client regading the low balance.If they informed me at the first penalty itself,i would have a chance to correct my balance.May i approach the consumer forum on this point?
R.Manoharan.
mahendrakumar
(Expert) 17 April 2010
You may not win your case at forum.
as a customer,you had agreed to maintain minimum balance and as such there is not much scope.
however,you may approach banking ombudsman.
Raj Kumar Makkad
(Expert) 17 April 2010
If you have signed the agreement to this effect then the responsibility of the bank ends. Time has changed and banks have now become purely professionals and they cannt be expected to do social service or to act on moral grounds.
bhagwat patil
(Expert) 17 April 2010
for rs 5600/- it is not wise option to go to court.first try nagociation with managers. if no results collect papers. In first RTI application only bnak officers will call u for settelment.immidiatly settle it.
Parthasarathi Loganathan
(Expert) 17 April 2010
RBI Regulations are very clear. It appears that the account should have been categorized as Inoperative for which Bank is entitled to recover Dormant account charges. Since there are many delivery channels provided Customer cannot shift the blame on the bank for his omission to check his account from time to time. Minimum balance charges debited periodically from the account is a part and parcel of compliance of guidelines from Regulatory authorities. You may visit the bank's site and verify the charges and find out as to whether any excess has been recovered. If so, you are always entitled to get it redressed with the bank itself.
Parveen Kr. Aggarwal
(Expert) 18 April 2010
In case the agreement casts no obligation on the bank to intimate you then how can you blame the bank for the same.
