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Old 12th August 2010, 12:51   #16
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Originally Posted by rohan_iitr View Post
I was also asked to submit ID proof and address proof for an account which I have been holding for more than 5 years. When I called customer care, they told that RBI has instructed all banks to maintain proper database of all customers in case of non-salary accounts.
I think this is not fault of bank. A couple of days back we were discussing the same thing in office. Many banks are asking you to submit KYC forms as per RBI guidelines.

Adding to the list of banks increasing min balance without informing. HSBC increased the min balance of my account from 5k to 25k and deducted 750 from my account without informing me. When contacted, the bank says, the intimation is sent by Chennai office and they have no method to check/track the same . Closed the account then and there after giving them a mouthful. This was some 4 years ago and I was not aware of Ombudsman, else would have tried giving a complaint.
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Old 12th August 2010, 14:01   #17
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Quote:
Originally Posted by rohan_iitr View Post
Most credit cards give a waiver on fuel surcharge. But there are some conditions that apply:
1. Generally applicable only for a particular oil company pumps
2. Generally applicable only when billed on the same bank's charge slip
Rohan
I have an ICICI - HP credit card. Surcharge is waived for all transaction at HP pumps, irrespective of which bank's charge slip. Of course surcharge waiver cannot be expected from other pumps (IO, BP, etc) on transacting through this HP card. However, if there are other non co-branded cards that allow fuel surcharge waiver, it would be a different issue.
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Old 12th August 2010, 14:04   #18
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Beware of ULIPs of all kinds. Never mix insurance with investment.

A combo of Term-plan+Accidental insurance+disability rider+critical illness rider+Diversified equity mutual fund will give you better coverage and net returns than any ULIP.
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Old 12th August 2010, 16:28   #19
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Quote:
Originally Posted by Googleman View Post
Surcharge for fuel depends on the banks. My Citibank CC did not count any surcharge on any pump or charge slip, wherein, HSBC CC does calculate in some. So it all depends on the Terms and conditions of the banks.

So there is nothing to Beware, it's normal. Only thing you need to beware is the 'Terms and Conditions' if you have the patience to read through it.
That is what I meant. You need to beware of the terms and conditions under which the surcharge is given.

On my Citibank Platinum CC, surcharge waiver is given ONLY at Indian Oil outlets AND only when transactions is done on Citibank charge slip.

I also have a HDFC Bank Platinum Plus CC. It gives surcharge waiver on any brand petrol and any bank charge slip.

Quote:
Originally Posted by Jaguar View Post
I think this is not fault of bank. A couple of days back we were discussing the same thing in office. Many banks are asking you to submit KYC forms as per RBI guidelines.
Yes, that is what I meant. It is not the bank's fault, it is as per RBI guidelines. But the problem which I faced was that earlier my account had a zero minimum balance, since it was entered in their records as a salary account. But because of the RBI guidelines, it was converted to non-salary account, hence my minimum balance was increased to 5K (IIRC).

This may be hard to believe, but I have been using ICICI bank SB account and CC for over 5 years and I never faced a problem with them.

Rohan
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Old 12th August 2010, 17:59   #20
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Quote:
Originally Posted by rohan_iitr View Post
earlier my account had a zero minimum balance, since it was entered in their records as a salary account. But because of the RBI guidelines, it was converted to non-salary account, hence my minimum balance was increased to 5K (IIRC).

This may be hard to believe, but I have been using ICICI bank SB account and CC for over 5 years and I never faced a problem with them.
Rohan
Even I have a zero balance ICICI salary account for 6 years. Let me check if they have changed it to non-salary since I no longer receive my salary in that account.
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Old 12th August 2010, 21:44   #21
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Nice thread Siralec,

A little OT . Today I had a call from a reputed bank ( a marketing call ).
based on the info from this thread ,I simply asked them about the minimum balance terms/conditions . It appeared that it was 10,000. Then I showed my total dissatisfaction over the issue & simply told them that I am not interested in opening an account because of this condition.

But the lady was still pursuing . But I had another trick to get her Off ( learned from TBHP only ). As soon as I told her that I am a Auto rikshaw driver ( not even the owner ) the conversation ended then & there

Thanks TEAM BHP

Yours Sudarshan
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Old 13th August 2010, 00:08   #22
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A strange one from me. Be very afraid if some guy gives your mobile number as an alternate number (they should be personal numbers, house/office/etc) and stops paying his phone bills. I am being harassed by Vodafone's collection agency since the past 15 days because some idiot has given my Airtel number as an alternate. The collection agency people are morons, so I don't blame them. Sent a complaint to Vodafone customer care who called me 3 days later and informed me that they had fixed the problem. A few hours later, the calls resumed.

The calls come in spurts (usually 9-12 calls in less than 3 minutes) and then stop and continue the next day. In the afternoons. Complained to the Nodal officer who told me that the problem was supposedly fixed from their side, which I refused. The woman hung up. A minute later, I received 9 consecutive calls from their collection agency.

Want to stab them in their mouths for making false promises. Next stop, the Appellate Authority.
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Old 13th August 2010, 03:37   #23
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That is true Pranav..the collection agency just give the printout of the customer list to the collection agents from whom money is to be collected. If there is any defaulter, then 4 or 5 collection agents sit together and call the person continuously.

A small point from me.. Never trust the collection agent if it is your last date of bill payment, they will not come, and 2 hours before 5 pm there will be server problem and he will be out of reach
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Old 13th August 2010, 05:27   #24
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When I used my Axis Bank Gold Credit Card for fuel purchase at various fuel pumps of different brands at different cities, I found that surcharge of 2.5% only was waived off, but service tax on surcharge was not. I found to my chagrin that some fuel pumps of the same brand charge service tax on surcharge and others don't, which was not paid back to my credit card account.

Nowadays, I use my Axis Bank Priority Debit Card for fuel purchases, where only the cost of the fuel is deducted from my account, no surcharge/service tax.

Last edited by J.Ravi : 13th August 2010 at 05:28.
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Old 13th August 2010, 06:24   #25
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Quote:
Originally Posted by rohan_iitr View Post
On my Citibank Platinum CC, surcharge waiver is given ONLY at Indian Oil outlets AND only when transactions is done on Citibank charge slip.
You are talking about the INDIAN OIL card given by CITIBANK but there are other cards also given by CITIBANK. The INDIAN OIL card is free so they have this condition.

Most of the card now-a-days leive surcharge on ALL petrol bunks with any kind of charge slip.
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Old 13th August 2010, 10:23   #26
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Guys , is there any charges for NEFT transfers ( inter bank e fund trfs ). union bank of india is charging rs.5 for every transfers made / received, when other banks dont charge like icici , sbi .

IMO all electronic transfers / transactions other than ticketing are free services . Have made several complaints but there is no response from the bank.
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Old 13th August 2010, 11:39   #27
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Quote:
Originally Posted by Jaguar View Post
Even I have a zero balance ICICI salary account for 6 years. Let me check if they have changed it to non-salary since I no longer receive my salary in that account.
If your salary account got converted to non-salary account, you would have received a letter from the bank at the address mentioned in their records. I hope you have the correct address updated in their records.

Quote:
Originally Posted by Googleman View Post
You are talking about the INDIAN OIL card given by CITIBANK but there are other cards also given by CITIBANK. The INDIAN OIL card is free so they have this condition.

Most of the card now-a-days leive surcharge on ALL petrol bunks with any kind of charge slip.
Like I mentioned, mine is a Citibank Platinum CC (life time free).

Yes, different type of cards have different T&C, one needs to be aware of the same.

Quote:
Originally Posted by rm_arjuna View Post
Guys , is there any charges for NEFT transfers ( inter bank e fund trfs ). union bank of india is charging rs.5 for every transfers made / received, when other banks dont charge like icici , sbi .

IMO all electronic transfers / transactions other than ticketing are free services . Have made several complaints but there is no response from the bank.
NEFT service is generally charged by banks. Rs 5 seems like a reasonable amount to pay for the convenience.

VISA money transfer used to be free from my SBI account. Now they are charging Rs 25 for it. Not reasonable at all.

Rohan
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Old 13th August 2010, 12:55   #28
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SBI also charges Rs 5 for NEFT transfer.
Citibank (salary account) however is not charging anything for neft transfers.

Regards,
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Old 13th August 2010, 13:05   #29
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Quote:
Originally Posted by coolfyre View Post
Some more banks which I know of and have experienced changing zero balance accounts to minimum balance accounts without information and also charging penalty for not maintaining monthly/quarterly average minimum balance.

Citibank - Minimum balance Rs. 10,000/-
I got the information after they deducted the penalty charges for that quarter.

ICICI Bank - Minimum balance Rs. 10,000/-

Standard Chartered Bank - Minimum balance Rs. 10,000/-

I do not know any specific banks, but have heard that some banks charge something like Rs. 500/- for not maintaining monthly minimum balance as well as something like Rs. 850/- per quarter for not maintaining quarterly average minimum balance.

Please beware!
Hey Coolfyre,
If I'm not wrong the minimum balance for Citibank is Rs. 25,000/-, I remember getting an email from them sometime back regarding this. I'm trying to dig up that email from them. Let me double check with them today and I hope it is 10K

Cheers!
-Z
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Old 13th August 2010, 14:14   #30
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Quote:
Originally Posted by Zombie69 View Post
Hey Coolfyre,
If I'm not wrong the minimum balance for Citibank is Rs. 25,000/-, I remember getting an email from them sometime back regarding this. I'm trying to dig up that email from them. Let me double check with them today and I hope it is 10K

Cheers!
-Z
You are right. I have also read this somewhere that their minimum balance is 25K for one category and 30K for another category whereas, suvidha accounts have 0K minimum balance criteria.
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