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Closure Notice: Large number of Transactions in your Savings Account

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malli_18arjun

Hi 

Received sms from ICICI bank stating below. 

Dear Customer, numerous transactions have been carried out in your ICICI Bank Savings Account XX towards business activities, which are not in accordance with the purposes of a Savings Account. Such high value transactions are usually carried out through Current Accounts. Carry out such transactions by opening a Current Account at any ICICI Bank Branch or digitally by visiting https://www.icicibank.com/blogs/current-account... . Your ICICI Bank Savings Account will be closed after 30 days. For the detailed notice,

Is account will be closed automatically after 30days . what action need to be taken from my side.

Please suggest

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Helpful Helpful
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Received a similar notice by a friend. Please let me know what is further course of action to be done to continue with the account.

Finance Ninja Finance Ninja
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Account will be closed , icici doesn't negotiate in these situations
Deal Cadet Deal Cadet
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Its used for loan clearing only (bajaj finance) if it was proven will they accept.. since home loan other emi's are debiting from same account 
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Pro Tech Guru Pro Tech Guru
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ICICI Becoming too strict now a days. Every month 2-3 Post created on DD of account closure .

I will use icici account for 2 Txn a month 🤣

Generous Generous
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Got the same mail and call from citi and they warned either u need to stop high no of trns or convert ur saving acc into current. But they didn't block the acc and just issued the warning
Helpful Helpful
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what does business activity mean here 

suppose if i do UPI , of around 1lakh every month 

will it get considered in business activity ?

Generous Generous
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Yes, I also would like to know about this.
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Pro Tech Guru Pro Tech Guru
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Also on twitter Too many person reported this 

Benevolent Benevolent
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Also on reddit paji
Deal Cadet Deal Cadet
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How many transactions per month count as "large number" for these banks?

Generous Generous
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+1
Deal Cadet Deal Cadet
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@malli_18arjun

check dm

Helpful Helpful
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Let me also know if any recourse is available. Need it for a friend

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Finance Mentor Finance Mentor
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I guess too many UPI transactions for offers etc are not being liked by banks and this is a growing trend.

Deal Newbie Deal Newbie
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Even I got the message and mine is Salary account where number of credit cards and Emi's are linked.. what to do

Critic Critic
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is it possible that u post ur last month statement.

Or tell us the no of dc, upi (sent received), NetBanking, neft transaction.and the average amount u transferred.
Benevolent Benevolent
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Officially, 50-60 debits are permitted from Savings acct in a financial year by the banks. 

Benevolent Benevolent
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Lol i have 50-60 1rs transactions per month due to those Amazon shopping offers.

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Deal Newbie Deal Newbie
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Aaj mujhe bhi aisa message aaya hai bhai 

Koi to help kro. Kuch hoga to nahi na?? 🥺🥺🥺🥺


Dear Customer, numerous transactions have been carried out in your ICICI Bank Savings Account XX towards business activities, which are not in accordance with the purposes of a Savings Account. Such transactions are usually done through Current Accounts. Your business will be better served through a Current Account and your Savings Account will be closed after 30 days. For detailed notice served to you

Deal Newbie Deal Newbie
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I have also received few hours back, even I have salaried account. Will discuss tomorrow with my relation manager.

Wingman Wingman
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Government banks ko badnam kar kar k unka pura business kha gye aur ab manmani kar rhe ye private banks wale
Benevolent Benevolent
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People getting such notices how many transactions are you doing in a month on average?

Deal Newbie Deal Newbie
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Even i recived this message, will visit bank and check

Deal Subedar Deal Subedar
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Hidden power of UPI.
Like Magnet Like Magnet
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Exactly. My brother got a similar alert call from sbi branch manager while this account was only used for receiving upi money from friends. Especially money transfer through Amazon pay upi to get cashbacks and rewards.
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Deal Newbie Deal Newbie
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i dont understand how can they close the account without giving a warning?

Commentator Commentator
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Citibank gave me a warning once but didn't blocked the account
Deal Newbie Deal Newbie
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I'm also got the same message from icici bank and I am using salary account 

Deal Newbie Deal Newbie
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has anyone got it resolved , got the message later this evening , have my salary account , home loan account and other things in this sad


Deal Lieutenant Deal Lieutenant
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Its time for current account

Ya toh cashback pao ya interest

T: Now banks are limited. choose cashback (current account) or interest (saving account)

Cool Cool
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omg, around 2016/17 I opened an RBL bank account and used that for paying the SBI cc bill, in 6 months I paid nearly 98L cc bills. The bank manager called and asked to close the account asap, same year bank reported to the income tax dept and I received notice.  problem here is once we close any bank accounts they will simply report them to the IT dept if we have any huge txns. luckily having one Kotak current account using from 2015, till now no issues even once I received 10L  (US currency) from my brother around 2017/18. 

Pro Tech Guru Pro Tech Guru
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Sbse Heavy Driver to aap Nikle 
98L maine 4baar pdha tb believe hua
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Pro Tech Guru Pro Tech Guru
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https://cdn0.desidime.com/attachments/photos/798770/medium/image.png?1661305999

https://cdn0.desidime.com/attachments/photos/798771/medium/image.png?1661306025

Beacon Beacon
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Use SBI account. They really don't care how much you use the account. They have more things to worry about like Lunch Breaks and Server nhi hai.
Pro Tech Guru Pro Tech Guru
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They also do. But they warn first and ask to open current account 
BUT in icici case they directly give notice to close account
Helpful Helpful
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Bhai Account To Close Hoga..Chahe Kuch Bhi Karlo.....Ha 1 Mahine Baad Nhi 2_3 Mahine Lag Jayenge.....Pese Pehle Hi Withdraw Kar Lena....Mere Account Main 2 Rupay The.....Aaj Tak Cheque Nhi Aaya..... Account Close Ke Baad....2 Rupay Ka Chuna Laga Diya.....😢

Pro Tech Guru Pro Tech Guru
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1000 se km ke liye bank jao 1000+ me address pe aayega closure notice me padha tha

Deal Subedar Deal Subedar
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More transactions account close warning😡. Fewer transactions then charge for not maintaining the monthly average balance. 😠 Banks push us to do more transactions on credit cards.... what banks want to achieve!!

Deal Newbie Deal Newbie
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Called customer care n they said its technical glitch n account won't close

Deal Cadet Deal Cadet
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Yes for me also they told same and account will not be closed.
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