Kotak Bank
Bad practise (Changing terms for zero balance account)

Dear All,

As per subjuct, I, Ashish Mody, Opened zero balance trinity (now they call it 3 in 1 a/c) with kotak mahindra bank, the account opening time Kotak reperntative told me that, this account will be zero balance account for lifetime.

But now bank has sent me sms to charged me if my quarterly minimum balance goes below 5000rs. This is bad practise, My usual balance is always quite more then what they require in that bank account, but i didn't like the way they change their policies.

Now I'm thinking of closing Kotak Bank a/c as well as my trading a/c with Kotak securities and will start blogging everywhere about Kotak's bad practises, and request everyone to oppoze this kind of practises by closing their account with this bank.

I think Kotak bank shouldn't be doing this. When I talk to costomer care and register complaint, they said we have changed our policy and nothing we can do. One customer care representative was complaining that not only your's but employee a/c also they have changed policies and started charging them for debit card, which they din't earlier.

thanks & regards.

Ashish Mody

[email protected]