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Old 12th May 2009, 10:34   #16
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The banking ombudsman is your friend. 10K is no peanuts, and charging 16K maintenance fee is outright .... others have said what it is. But I think the RbI has given the banks a free hand in such matters.
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Old 12th May 2009, 11:07   #17
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Holy cow.
i just observed the same problem with my ABN Amro account.

No doubt it is the bank with the lousiest website, and customer care.

I guess in my case the story goes like - the ABN Amro was a salary account.
However, due to the above mentioned specifics about net-banking and customer care (who goes to bank for each and every work these days?), I decided to switch over to citibank.

so I guess with a low balance, ABN felt "hurt" and started charging a service charge (around 550 per month).
I am trying to get this sorted out, will definitely post here, what happens next
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Old 12th May 2009, 12:38   #18
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Originally Posted by kaushik_s View Post
BTW, what happens to an account which has been lying idle for years without any money in it? There may be some negative balance as the charges for not maintaining the minimum balance. Will the bank keep the account open and keep on adding those charges till the world ends or they'll close such abandoned accounts after some years?
I had this problem with HSBC. At the end of each quarter, if the balance is less than Rs.5000, they will debit Rs.750 + Service tax. I missed to notice this for consecutive 2 quarters. Then i called the bank and requested them to reverse these charges, which they refused. I then mentioned to them that if they are not reversing, i am closing the account. They had the cheek to tell me that i can close the account.

For the next quarter end (Mar 09), i removed all the money and made the balance zero. I was waiting eagerly for the statement to show a negative balance, but it is still showing zero. I guess that the negative numbers do not show up. But i am sure, if there is a subsequent deposit, the first thing that they will do is to deduct these charges.
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Old 12th May 2009, 13:12   #19
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Ask the manager for an account statement which shows these account maintainence charges for Rs.16000. Also request him for a copy of the account opening form which shows your acceptance of these charges, terms and conditions.

Incase these charges are mentioned in the terms and conditions, there is really nothing much you can do. You could of course try approaching the consumer court, and hope that they agree with your contention that these charges were not communicated to you clearly and are irrational and deserve to be reversed. Not sure how successful that approach will be.

Also, please do not make the mistake of depositing any additional money in the account, since the bank will conveniently adjust these deposits against its claims. So, its better to write off the 10k instead of losing another 16k.

Just drives home the point that one needs to be very careful about signing any documents. Most of us blindly sign such documents.

IIRC, when Bank of America was taken over by ABN Amro, they introduced a new scheme. All the customer had to do was to call them over the phone and request say a withdrawal of 1lac. The money would be sent to your place, and you had to hand over a cheque in lieu of the money. One of the terms and conditions was that even if they did not collect a cheque, or delivered the money to the wrong address, or lost the money in transit, the customer was liabile. When I questioned them, they said it was just something drafted by their legal dept and they would not hold the customer liable. I told them to strike out the clause from my agreement. They refused. I asked them to go fly a kite. Closed my account and withdrew my money. And after reading this story, I'm sure I did the right thing.
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Old 12th May 2009, 13:55   #20
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Originally Posted by asethi View Post
I too have suffered from ABN Amro bank. I had a life time free credit card. But to my surprise, after almost 1.5 yrs, I had an outstanding balance of 16K. I totally freaked out and yelled at the bank manager. He said it was only free for 1st year. Then he said he would reverse the charges but I'll have to take 1 more ABN credit card, which I promptly refused. Only when I pressed on going to police/court, then that idiot got all charges reversed and I closed my CC A/C, and the relationship with the bank forever.
Freek! I too hold a CC from ABN AMRO! I haven't used it as yet!
Am I in trouble ? Can a bank fine me for not using a CC ?
Can I get some number that I can call and confirm my fine!?
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Old 12th May 2009, 14:03   #21
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Originally Posted by pedrolourenco View Post
Just tell the manager you will open a fixed deposit of 1 Lakh if he reverses the charges. After 15 days break the deposit and then stick to Nationalised Banks.
Looks like good idea. it might work out rather than going to consumer court.
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Old 12th May 2009, 14:09   #22
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Originally Posted by prince_pervez View Post
Freek! I too hold a CC from ABN AMRO! I haven't used it as yet!
Am I in trouble ? Can a bank fine me for not using a CC ?
Can I get some number that I can call and confirm my fine!?
I don't think it is like that. They will not charge a single penny if you are not using it.Better to cancel it if you don't use it.
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Looks like good idea. it might work out rather than going to consumer court.
I don't think it is good to deposit 1Lakh. Settle at present situation.
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Old 12th May 2009, 14:17   #23
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Originally Posted by aka_iitd View Post
I don't think it is like that. They will not charge a single penny if you are not using it.Better to cancel it if you don't use it.
Phew! Some respite! Yeah I'll do that, and in the process I'll ask if there is some outstanding as well
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Old 12th May 2009, 15:49   #24
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Originally Posted by prince_pervez View Post
Freek! I too hold a CC from ABN AMRO! I haven't used it as yet!
Am I in trouble ? Can a bank fine me for not using a CC ?
Can I get some number that I can call and confirm my fine!?
Usually cards have a non-usage fee.

Manhattan

As per this page, SCB would charge 250 every 6 months for inactive cards.

Would be best to call your bank's customer care and clarify this.
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Old 12th May 2009, 15:54   #25
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Drat! Thanks Netfreak! Seems like I will have to do that.
ICICI reduced my Credit limit due to non usage. But it was fully functional.
ICICI would have been the first to fine me in that case.

Last edited by prince_pervez : 12th May 2009 at 15:55.
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