Tweets on 2012-02-20

by Vinaya HS on February 20, 2012

in Finance

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AMB CHRG INCL ST & CESS FOR JAN 2012.

That’s the cryptic transaction wording seen in my HDFC Bank Savings Account for a debit of Rs 386.05. I think I know what this sneaky charge is for — for non-maintenance of some minimum average cash balance in my savings account. HDFC Bank has levied this charge exactly a week back but I noticed this only today while balancing my account. No notification sent whatsoever. Sneaky charge = Bank profits.

Someone at HDFC Bank is going to hear, quite a bit, from me tomorrow. I’ll begin by simply asking them to take a peek at the non-cash balance and by asking them if they’d like me to take this business elsewhere.




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{ 7 comments… read them below or add one }

dilpreet February 21, 2012 at 8:17 PM

the same happened to me also

Vinaya HS February 21, 2012 at 9:37 PM

@dilpreet: Any luck getting it reversed?

sridhar February 23, 2012 at 6:20 PM

even it has happend to me. Is it reversed back? do we have a process to make this reversal?

Vinaya HS February 24, 2012 at 10:00 AM

@sridhar:

Caught up with work. Yet to call the bank. :-( Will update.

Anoop February 24, 2012 at 5:17 PM

Great Analysis work. Thanks for the tip.

kishore March 12, 2012 at 11:38 AM

Charges effective 1st Jan 2012
Accounts not maintaining Average Monthly Balance (AMB)
For Urban / Metro branches:

If AMB in the account is between Rs 5,000 to Rs 10,000 – Rs 250/- per month would be levied.
If AMB is less than Rs 5,000 – Rs 350/- per month would be levied.

Vijay Paul May 23, 2012 at 8:08 AM

Thanks Kishore for the information shared.

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