Deduction of program management fees from my account without any notification ?

asked Apr 1, 2016 in Others by Ankur Malhotra

I have a classic saving account in bank. At the time of opening account they notify me that no charges are applicable for classic customer but now they deducted 114.5 rs for so called programme management fees. When contacted with branch they said extra facility is provided with it like credit card or demat account. But I am not availing this facility nor I want it. This is fraud and I want my money back.

1 Answer

answered Apr 3, 2016 by Raja

Dear Ankur

At the outset, let me clarify that this site is designed and managed 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.

If bank is making certain deductions, which have not been authorized by you, the best course would be to handover a written complaint to the home branch, seeking clarification regarding the debits. Once it is in writing, the home branch would be under obligation to respond to you. Once the bank reverts with the details of charges / clarifies the reason for such debits, you need to decide whether their response is to your satisfaction and if not may further email your grievance to the Nodal Officer. The contact details of the Nodal Officer would be available on Bank's website. The Nodal Officer would ensure a proper response to your issue.

RAJA