HSBC Bank
Change in status of account

I had opened an account with HSDBC Bank ltd Chembur branch more than 10 years ago (a/c no 005111364006). It is a smart money saving with a deposit of Rs. 25, 000/- and an O/d facily to withdraw upto 90 % of FD amount. Now any time the amount gets over 1 lakh in my account the bank changes the status of my account into Power Vintage and Power advance. Whereby i have to maintain a minimum balance of Rs.1, 00, 000/- in my account. It has happened to me twice and without taking my permission. They have just sent me a letter stating that i have now so many facilities and no where in the letter it is mentioned that i have to maintain a minimum balance of Rs.1, 00, 000/- or i pay a penalty to the bank. I want to know whether Bank has a right to do this? They have also issued me a new cheque book to that effect. It is called priviliged banking by them!

On visiting them they have returned the status of my account. But I want to make this public because there may be so many other customers who may be unaware about the details and only come to know later what has happened.

Company: HSBC Bank
Country: India
State: Maharashtra
City: Mumbai Suburban

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