Axis Bank
Transaction charges on savings account

Bank has debited Rs 650 as a transaction charge on saving bank account for one quarter ending Mar 09 and Rs 295 was debited for QE Dec 08 for similar reason. I sent mails and several reminders asking for details from the bank but so far no response. When contacted over customer care phone no. 18604258888 yester day (23.4.09) at about 5 pm, they were irresponsible to say that we cannot verify and asked me to contact home-branch.

Now the news is that Axis bank has started charging their account holders @ Rs 50 per transaction effected except through ATMs.

How the bank can start charging for every transaction? Govt, on one hand encourages transctions through banking channel but here the banks have started charging @ Rs 50 per transction. This quite detrimental to the small and medium class public holding saving account in the banks.

Even it appears RBI have no say in the banks charing interest or service charge on their customers. These banks after providing incentives while opening the account starts debiting charges to the account without even getting concurrence from the customers. Now the bank is saying you can close the account if not interested.

People are left high and dry. Is any one to look into this???

Ramakrishnan

Company: Axis Bank
Country: India

  <     >