Saving Account AMB false deduction.

Hi all, I have experienced an absurd condition in my banking transaction. I have corporate saving account in one of reputed bank with many features. One of it is Auto FFD i.e. if my balance goes sudden specified limit it automatically converts in FD and when goes below automatically breaks FD to maintain min balance. But last 5/6 month it is not happened and my balance went little low than required. There was lot more in auto FD to keep AMB but it didn't break in time and bank deducted min balance charges continuously for 3/4 months. Please reply is it valid ? I wrote to them but they said didn't agreed and considered it as applicable. When I explained them everything still they reply Auto FFD is by different department and AMB is by different department. So whatever they deduct is valid. My concern is that should we keep record of our account or deal with different department of bank which is not in our hand. more  

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In case of auto FD a/c the minimum balance should have been maintained by the bank automatically. If the bank is charging, it is sheer 'goondagardi'. Take the issue with their central office and if charges dr. are not reversed , write to the banking ombudsman. more  
Dear All, Thank you very much for sharing your views. This experience is from Kotak Bank. It is true that minimum balance should be maintained but as it is linked to automated FD which should break automatically. Otherwise they should not provide such automated facility which will only open your no. of FDs irrespective of your min balance requirement and other bank department will deduct min charges. It looks nonsense. They should update their system or should keep track of minimum requirement. more  
The FD Balances are not considered for minimum balance in the SF account. Your specified limit to be maintained in SF account should be minimum prescribed. In my case they waived off charges for about six months. more  
I too have a bad experience with Kotak Mahindra Bank. I was lured by the bank staff who visited my residence and got a saving bank account opened without visiting the branch even for a moment. After some time I released that the services the bank had offered were just to make fool of me. I decided to close the account and visited one of their branch close to my residence. The lady at the counter asked me to withdraw all the money before applying to close the account. I had some money left in the account so that any dues against me get cleared. Perhaps the lady at the counter was not aware of Bank's intentions and allowed me to file request for closing the account. But, later I found my account was not closed though it was showing nil balance. When I inquired from the Bank's customer care, I was asked to visit the branch far away from my residence where my account was opened. I did not oblige the bank and I find that the bank continues to show minus balance increasing from day to day. I understand that there are clear instructions from the RBI to close the account with zero balance. I seek the advise of members to know where I had gone wrong and how I could make the bank to act as per RBI guide lines. more  
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