More banking woes

by Vinaya HS on October 4, 2005

in The Bangalore Blog

Thanks for visiting Capital Advisor. I frequently update this blog to cover various topics on personal finance such as investment strategies, financial products that you should buy and ones that you really should stay away from, financial calculators, emerging themes such as early retirement and financial independence, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

For a change, this post is not about Citibank. Whew!

What is the probability that you willingly give out your mobile number to a bank, but they don’t call you back? Before you hit the attic looking for your college Math books, read my story.

I decided to open a savings account with HDFC Bank. I registered myself on their website and asked for a representative to get in touch with me. The next day I received this e-mail:

From: HDFC Bank Support
Date: Sep 23, 2005 10:45 AM
Subject: RE:{HBL#002-317-854} Savings A/c Lead
To: Vinaya HS

Dear Customer,

Thank you for writing to us.

We have forwarded your mail to the concerned team and our executive from respective location will get in touch with you as soon as possible. Kindly await the correspondence from them.

Warm regards,

It’s been twelve days, but no sign of the executive.

On the other hand, HSBC, on realizing that my old salary account was not hoarding any cash (the leftover balance being Rs. 21/-), sent me a letter asking me to open a term deposit of Rs. 100,000/- or else the “Power Vantage” status of the account would be withdrawn. For lack of the requested funds, I have decided to close this account. I miss you HSBC. It’s been a great experience banking with you.




Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

{ 3 comments… read them below or add one }

Raj October 4, 2005 at 4:34 PM

Well, let me warn you that my sister has had lots of bad experiences with HDFC Bank, far worse than you have had with Citibank so I would suggest you to stay away from them too.

Anonymous October 5, 2005 at 7:09 PM

i know even though i ask u to check in detail abt HDFC, u’ll end up opening an acc with them. be cautious

Vinaya HS October 7, 2005 at 5:56 PM

I think I will stay away from them. In the case of banking institutions in India, “You always learn from other’s experience.”

Previous post:

Next post: