Help Needed. HDFC balance became -ve

[hideaway]

Hi All,

I transferred an amt of 1.5lakh to a person. My balance was around 1 Lakh.

I had an fd of 2 Lakh which is made as protection to my main account. When ever money is needed in main account the amount will be sweep in from fd account. That's what my RM said when she made me to invest in FD.

But now after sending amt of 1.5 lakh account is now -48000. Sweep in didn't happen. Do I neee to manually break the fd or sweep in happen after some time.

Pls help

 

[Tejo]

Hi All,

I transferred an amt of 1.5lakh to a person. My balance was around 1 Lakh.

I had an fd of 2 Lakh which is made as protection to my main account. When ever money is needed in main account the amount will be sweep in from fd account. That's what my RM said when she made me to invest in FD.

But now after sending amt of 1.5 lakh account is now -48000. Sweep in didn't happen. Do I neee to manually break the fd or sweep in happen after some time.

Pls help

I think if you are doing transaction then first you need to break.

I think sweep in takes next day.

 

[CyberPsych]

Hi All,

I transferred an amt of 1.5lakh to a person. My balance was around 1 Lakh.

I had an fd of 2 Lakh which is made as protection to my main account. When ever money is needed in main account the amount will be sweep in from fd account. That's what my RM said when she made me to invest in FD.

But now after sending amt of 1.5 lakh account is now -48000. Sweep in didn't happen. Do I neee to manually break the fd or sweep in happen after some time.

Pls help

Can you update what happened? my RM is asking for me to make sweep-in FD

 

[Tejo]

Can you update what happened? my RM is asking for me to make sweep-in FD

Don't do sweep in ... savings account. Current account only preferred.

 

[nik007rock]

exactly this sweepp/out is unnecessary headache specially in case of HDFC savings max acc is such cases, for this itself i had close my hdfc account

 

[panu24]

exactly this sweepp/out is unnecessary headache specially in case of HDFC savings max acc is such cases, for this itself i had close my hdfc account

You could have given request in branch to not enable sweep in/out feature of Max. It works at least it worked for my brother.

 

[nik007rock]

You could have given request in branch to not enable sweep in/out feature of Max. It works at least it worked for my brother.

not is my case been chasing these guys since 3-4 months , they have been giving just excuses( need some approval bla bla ..) anyways once cooling period is done after few months i will open a fresh acc and this time online myself

 

[Trust Me]

I think if you are doing transaction then first you need to break.

I think sweep in takes next day.

exactly this sweepp/out is unnecessary headache specially in case of HDFC savings max acc is such cases, for this itself i had close my hdfc account

You could have given request in branch to not enable sweep in/out feature of Max. It works at least it worked for my brother.

Are we talking about how the Savings Max account works? I believe the automatic sweep-out/sweep-in feature is off by default, and needs to be enabled purposely (as confirmed by my RM and BM).

If enabled, I am surprised it takes one day for the sweep-in to happen (if it happens)!

I'd much rather use a Flexi FD (linked to the SB account). I have used such FFDs extensively at other banks, and it works seamlessly. Many banks offer this (if not all), though don't know about HDFC.

There is no automatic Sweep-out. If the SB account is overdrawn, the balance temporarily becomes negative. Then the deficit amount is compensated for by automatically breaking the linked FFD partially as needed and sweeping in the amount within the same business day. No worries, no headaches.