The Bangalore Blog

The Citibank Saga: Part 4

Transaction screen

Yesterday I logged into my Citibank account, only to be greeted by some suspicious looking transactions. The transactions were titled as “BR WALKIN TXN CHG” and my account was debited a hundred rupees. To add insult to injury, there was a service tax (of 10%) and an education cess (of 2%) debited as well. To further rub salt on my wounds, the same set of transactions was reflected twice.

Alarmed, I called up Citibank and explained my situation. Excerpts from this conversation:

Me : “Blah…blah…blah”
CSE : “Sir, did you deposit cash at one of our branches?”
Me : “Yes. Twice.”
CSE : “Each time you deposit cash at a branch, we charge one hundred rupees and the service tax and education cess are applicable here.”
Me : Defeated…”Oh…OK. Thank you.”

I am still at loss to understand this concept. Can someone please explain it to me?

Read all my other banking woes.

9 thoughts on “The Citibank Saga: Part 4

  1. hahahahaha! It is to discourage you from using the services of their staff. Keeps people from coming to the branch and hence helps them reduce the number of people they hire.

    Now that you are educated of the fact and taxed for it too I hope you wont repeat it :)

    Anyways, you must be a fool to have an account with a bank like that. Rude people unless you are super rich.

  2. It is because they discourage interaction in person. Their whole model is built upon automation and they dont want to function as a “normal” bank where people are required to service customers. By doing this, they are basically telling you to deposit cash in ATMs.

  3. I was also an victim of this for couple of times. Realized the facts only after that.

    When I called for clarifications, there was no answer for my question..

    When every thing and anything is possible through ATM’s (THis is the reason that I got from Citi Bank executive), why are they still running their branches..They can simply close them off..or they can put NO ENTRY board (or atleast a warning sign “you will be charged 110/- if you enter “) at their branches..

    It is afterall our money and we are going to deposit into our accounts..why do we need to pay for that..!! !@#@#$!!!@@???


  4. Raj, just imagine if you are depositing just 100 bucks. Hypothetical, but possible.

    SM, I don’t have a choice. It comes with my employment.

    VKB, I don’t trust dropping cash at ATMs. Especially in light of the recent robberies.

    Kishore, you’re the pal in the boat :-)

  5. Hi guys,

    All private banks can become like GTB one day. You may loose all your money unless govt decides to come and save you. All foreign banks have so many clients with one branch in MG road that they cannot provide better service unless they charge you. Best is SBI. SBI looks much better now. I have my salary account in UTI but move the money to SBI near my house. They have ATM, lefetime free master card and personal service too in some brnaches if you deposit a good chunk.
    If you cannot do this atleast monitor the RBI moratariums. Yesterday a bank in Kerala is listed by RBI for noncompliance.

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