Archive for the ‘Banking’ Category

Round the clock?

July 2, 2007

I know internet banking provides round the clock services, but why should they have it on “this” particular page?netbanking.jpg

Bank anywhere

January 24, 2007

Few years back, I opened a PPF account with a SBI branch in Chennai. Today I approached a near by SBI branch in Bangalore to deposit some amount. They said that I can pay only in the branch where I opened. When I asked about “Anywhere Banking” ads, they said it applied only to Savings Account and not to PPF account. I enquired about changing the account to this branch. They said, it might take more than a month for that. Grrrrr.

Ok. Now what to do with the cash? I thought I’ll deposit it back into my savings bank account which is with ICICI. I was surprised that they are not getting cash in the counter directly. Rather we need to put it inside a envelope; seal it and deposit it in the counter. They will later open it in a room with surveilance cameras; count the cash and deposit it in my account. Why such a stupid procedure? I asked what if the total amount I’ve mentioned in the envelope differs from the amount inside. They said they will ignore what I’ve mentioned in the envelope and update with the actual amount. If that is the case why should I count and update the denomination?

The worst thing, I have to deposit the amount in the same branch where I have the account. If not I’ve pay 0.5 % charge (with a minimum of Rs 150/-)

That is the truth of “Bank Anywhere”. hmmm. Look into more details into “* conditions apply” in the ads.

HDFC Bank …

January 6, 2007

Banking and Finance sector customers are the risky ones for an IT Company and as I know they charge a huge amount for any project. Still there will be silly errors. Today when I logged into my HDFC Bank’s Savings account, I had a message:

Since I’ve applied for an address change, I thought it might be something related to it. But when I clicked it, I got:


Hmmm. I didn’t know that it was really a very special message !!!

ICICI bank is flooded !!!

December 22, 2006

Today morning I got a mail from ICICI Direct. The content is:

Dear Customer,

We regret to inform you that the documents and proofs of identity and address given by you at the time of account opening have been fully damaged by flooding in the storage areas caused by heavy rains. The natural disaster was most unfortunate.Time bound resubmission/re-execution of the documents is necessary for compliance to various regulatory and legal requirements and to keep the account operational.

In order to complete this formality, you need to submit an account opening form and other documents. The Bank branches listed below will remain open on 23rd and 24th December to help you complete the documentation in time.

While we regret this imposition on you, we urge you to complete the formalities as soon as possible.

We state that no charges would be collected from you for re-submission of the forms.

We earnestly seek your co-operation in helping us serve you better.

Sincerely,

Customer Service
ICICIdirect.com

I initially thought that it might be a phishing attack, but then it seemed to be genuine. I wonder how the nation’s largest private sector bank is handling documents of high importance. They are not ready to come and collect but expect me go to their branch and submit the documents. Worst, they expect me to do it on a long weekend and send a mail on that friday. I’m not going to do it. Let me see how far it goes.

BTW, am I the only one whose documents were lost in the flood? Did anyone else get this mail?

[Update 26-Dec-06]

From what Jaganath said in the comment and many more people ending at this blog entry for search terms like “icici last documents flood”, it looks like I’m not the only one whose document is lost. After the mail, I’ve another mail and few sms reminding me to visit the bank and submit the details. I replied the mail saying that its the bank’s mistake that they didn’t keep the documents safe and they should come back to me and collect the documents. No reply so far.

When we want to open an account these guys are behind us. They will send persons to your office or home or whereever you want to get all those documents. The treatment is royal. Once you are a customer then things are different. They charge you for everything (Citibank charged me Rs 50/- for withdrawing money from the bank counter when I lost my ATM card). I’ve decided not to visit the office and produce the documents rather ask them to come and collect it, since loosing the documents is their mistake. Let me see how far it goes.