Complaint regarding smab deduction ?

asked Dec 1, 2015 in Others by Tiju

Hi iam having account bank branch is Ravipuram, Ernakulam, kochi and it is my salary account... On sunday while checking my account, i was shocked to see that bank has deducted Rs 515 as smab amount from my account without given any notice through sms or via mail ...I do not agree with this type of cheating to plunder money from my account without my notice ... I want all my money return back, Otherwise i wil go for higher authorities... Regards Tiju

1 Answer

answered Dec 2, 2015 by Raja

Dear Tiju

At the outset, let me clarify that this site is designed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

Unless agreed otherwise between the bank and the corporate, the salary accounts are always with 'zero average balance'. One reason for levying SMAB charges could be, if NO salary is credited into the account. Please be sure that your salary has been getting credited into the relative account without any gap. Do speak to your home branch manager seeking reason for the smab charges and if not satisfied, may further complain to the management of the bank. The details of the Nodal / Grievance Redressal officer of the bank would be available on their website. Please take it up accordingly.

RAJA