IDBI BANK WORST SERVICES

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Dashing_Dukes

Just thought to share my experience with recent interaction with IDBI bank. My mom have an account with IDBI and we visited bank to close the account but surprised to see that bank is chargin hefty 590 rs for closure of account. I asked to register a complaint but the mentioned to do it through online channel ( which i already did)

If anyone faced such issue, so just wanted to know if its any new RBI policy or if any other bank is also charging such charges?

PS: acct is almost 7 years old with this bank.


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Deal Lieutenant Deal Lieutenant
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i have a same account 6 years old and as it is useless so was wishing to close it
will visit the bank may be next week and let u know if they charge any fees .

Iam unsure why they are charging money , do the have any written information regarding this on website ?

Deal Cadet Deal Cadet
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Most of the nationalised banks charge 500 +18% gst for account closure nothing new

Deal Cadet Deal Cadet
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bohemian wrote:

It is mentioned in their schedule of charges . So you cannot avoid there charges if mentioned in soc @hackerboys

https://www.idbibank.in/pdf/soc/Core-Savings-Ac...

You are right.. its mentioned on soc. First they are charging 590 rs instead of 500 as mentioned on soc.

Also none of the other bank are charging such charges.. cud bank charge such charges?

Also when i opened the account there were nonsuch charges.. this seems tonbe a new policy.

Deal Cadet Deal Cadet
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hackerboys wrote:

i have a same account 6 years old and as it is useless so was wishing to close it
will visit the bank may be next week and let u know if they charge any fees .

Iam unsure why they are charging money , do the have any written information regarding this on website ?

They handed over soc to me which have 500 rs mentioned but they are charging 590 saying inclusive of gst.. my question to them was that why didn’t they mention gst in soc.. also they were not taking complaint..

Deal Cadet Deal Cadet
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garamjalebi wrote:

Most of the nationalised banks charge 500 +18% gst for account closure nothing new

Ok.. good to knw. But i never encountered such charges..

Deal Lieutenant Deal Lieutenant
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Dashing_Dukes wrote:

You are right.. its mentioned on soc. First they are charging 590 rs instead of 500 as mentioned on soc.

Also none of the other bank are charging such charges.. cud bank charge such charges?

Also when i opened the account there were nonsuch charges.. this seems tonbe a new policy.

Any service is charged at 18% gst so 500+90 = 590.

Many banks charges closings charges. Some 100, some 500 and some none. Varies from bank to bank.  They periodically revise soc.  E.g. jana small bank also charges 590.  When we open account we agree to abide by t&c.  So one such conditions is to agrees to revised charges from time to time.

Deal Cadet Deal Cadet
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bohemian wrote:

Any service is charged at 18% gst so 500+90 = 590.

Many banks charges closings charges. Some 100, some 500 and some none. Varies from bank to bank.  They periodically revise soc.  E.g. jana small bank also charges 590.  When we open account we agree to abide by t&c.  So one such conditions is to agrees to revised charges from time to time.

Ok.. tell me one thing .. cud bank change their soc without informing customers? As earlier these charges were not there.. i already closed 2 account in 2019 without any charges

Deal Lieutenant Deal Lieutenant
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Dashing_Dukes wrote:

They handed over soc to me which have 500 rs mentioned but they are charging 590 saying inclusive of gst.. my question to them was that why didn’t they mention gst in soc.. also they were not taking complaint..

Because gst is subject to change. So most products are mentioned excluding gst. In case it changes they can levy gst accordingly as per prevalent rate.

Deal Cadet Deal Cadet
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bohemian wrote:

Because gst is subject to change. So most products are mentioned excluding gst. In case it changes they can levy gst accordingly as per prevalent rate.

Thanks for the clarification. Now only option i have to close such account after paying 590 rs and get rid of such worst banks..

Deal Lieutenant Deal Lieutenant
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Dashing_Dukes wrote:

Ok.. tell me one thing .. cud bank change their soc without informing customers? As earlier these charges were not there.. i already closed 2 account in 2019 without any charges

Yes. Banks can change as per their policy. I see it were revised in July 2021

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