Home verification indusind bank. Is this normal?

[telescope]

A while ago I received a call saying "I am from indusind bank, standing at so and so place (which is near my home), how to go to your home?". I asked why, he said "you had opened savings account so home verification is needed". I said "I am not at home (I am genuinely out of station right now), and also how would I know you are really from bank?". He then said "are you trying to avoid verification?". I said "whatever you think".

Context: I opened savings account like 5 years ago and kyc is updated. Indus mobile showing no re-kyc due. I also regularly transact mostly UPI and amount is also small, like always few hundreds or a thousand or two. Number of transaction is like once a week on average.

My question to you all - is this normal? No other bank ever asked me for any such thing.

 

[plastikman]

A while ago I received a call saying "I am from indusind bank, standing at so and so place (which is near my home), how to go to your home?". I asked why, he said "you had opened savings account so home verification is needed". I said "I am not at home (I am genuinely out of station right now), and also how would I know you are really from bank?". He then said "are you trying to avoid verification?". I said "whatever you think".

Context: I opened savings account like 5 years ago and kyc is updated. Indus mobile showing no re-kyc due. I also regularly transact mostly UPI and amount is also small, like always few hundreds or a thousand or two. Number of transaction is like once a week on average.

My question to you all - is this normal? No other bank ever asked me for any such thing.

Debit freeze incoming. Lol

 

[telescope]

Debit freeze incoming. Lol

Are you sure? There is only few hundred in the account so I don't even care.

 

[telescope]

@SSV @VISHESH_BANSAL @Vasuki @m4b

 

[telescope]

Where is rbi guidelines for home verification for savings account? This is nothing short of harassment

 

[plastikman]

Are you sure? There is only few hundred in the account so I don't even care.

I had opened an online account with Indusind. Within 2 days they applied a debit freeze and after escalating, the local branch sent someone hone to verify address. The freeze was removed a few days after that.

There are many instances where High Court has come down severely on banks for freezing account but they don't learn.

Drag them to RBI this time.

 

[m4b]

Lol what, this is something I unheard of. And the agent saying that are you trying to avoid home verification, this seems like a scam or something. Have to check. Let’s see.

 

[telescope]

I had opened an online account with Indusind. Within 2 days they applied a debit freeze and after escalating, the local branch sent someone hone to verify address. The freeze was removed a few days after that.

There are many instances where High Court has come down severely on banks for freezing account but they don't learn.

Drag them to RBI this time.

Ok. Let them freeze first.

 

[telescope]

Lol what, this is something I unheard of. And the agent saying that are you trying to avoid home verification, this seems like a scam or something. Have to check. Let’s see.

Even today is second Saturday. Bank holiday

 

[telescope]

Lol what, this is something I unheard of. And the agent saying that are you trying to avoid home verification, this seems like a scam or something. Have to check. Let’s see.

I also think maybe some kind of scam. Maybe my details have been leaked and they'll scam me.

 

[Zacobite]

A while ago I received a call saying "I am from indusind bank, standing at so and so place (which is near my home), how to go to your home?". I asked why, he said "you had opened savings account so home verification is needed". I said "I am not at home (I am genuinely out of station right now), and also how would I know you are really from bank?". He then said "are you trying to avoid verification?". I said "whatever you think".

Context: I opened savings account like 5 years ago and kyc is updated. Indus mobile showing no re-kyc due. I also regularly transact mostly UPI and amount is also small, like always few hundreds or a thousand or two. Number of transaction is like once a week on average.

My question to you all - is this normal? No other bank ever asked me for any such thing.

banks do this.. i have had a similar experience with idfc..

 

[Fini7777]

A while ago I received a call saying "I am from indusind bank, standing at so and so place (which is near my home), how to go to your home?". I asked why, he said "you had opened savings account so home verification is needed". I said "I am not at home (I am genuinely out of station right now), and also how would I know you are really from bank?". He then said "are you trying to avoid verification?". I said "whatever you think".

Context: I opened savings account like 5 years ago and kyc is updated. Indus mobile showing no re-kyc due. I also regularly transact mostly UPI and amount is also small, like always few hundreds or a thousand or two. Number of transaction is like once a week on average.

My question to you all - is this normal? No other bank ever asked me for any such thing.

In general, They do home verification during the account opening process for geo-tagging(it is their internal work)
but your account is 5 years old it looks strange

It might be a scam or they just want to confirm your address again that's it, Visit your base branch

 

[telescope]

In general, They do home verification during the account opening process for geo-tagging(it is their internal work)
but your account is 5 years old it looks strange

It might be a scam or they just want to confirm your address again that's it, Visit your base branch

I want to add that at the time of account opening, agent came home to open account and infact she insisted coming home for account opening. So geo tagging may have already been done.

 

[plastikman]

I want to add that at the time of account opening, agent came home to open account and infact she insisted coming home for account opening. So geo tagging may have already been done.

Maybe rekyc after 5 years ?

 

[telescope]

It might be a scam or they just want to confirm your address again that's it, Visit your base branch

I am travelling now and won't be possible to visit branch until few weeks. And I think I won't visit branch if account remains active. The reason is my branch is super annoying. Even if I go for simple cheque drop, they bugs me with insurance, investment offer and what not.

 

[telescope]

Maybe rekyc after 5 years ?

Banks would inform by mail/sms isn't it?
Few months ago my father's indusind account rekyc was necessary and he got email and sms.

Aise bin bulaye mehman ki tarah hazir nahi hua tha. And in netbanking also, father's account was showing kyc due. But I just checked, no rekyc is due for me.

 

[Vasuki]

A while ago I received a call saying "I am from indusind bank, standing at so and so place (which is near my home), how to go to your home?". I asked why, he said "you had opened savings account so home verification is needed". I said "I am not at home (I am genuinely out of station right now), and also how would I know you are really from bank?". He then said "are you trying to avoid verification?". I said "whatever you think".

Context: I opened savings account like 5 years ago and kyc is updated. Indus mobile showing no re-kyc due. I also regularly transact mostly UPI and amount is also small, like always few hundreds or a thousand or two. Number of transaction is like once a week on average.

My question to you all - is this normal? No other bank ever asked me for any such thing.

I opened account after month or so
My rm said we need to Home verification

I said ok I m not available
He took care of it .


So it's I guess mandatory in most private bank to do home verification so in event of any dispute they know your Home

 

[SSV]

A while ago I received a call saying "I am from indusind bank, standing at so and so place (which is near my home), how to go to your home?". I asked why, he said "you had opened savings account so home verification is needed". I said "I am not at home (I am genuinely out of station right now), and also how would I know you are really from bank?". He then said "are you trying to avoid verification?". I said "whatever you think".

Context: I opened savings account like 5 years ago and kyc is updated. Indus mobile showing no re-kyc due. I also regularly transact mostly UPI and amount is also small, like always few hundreds or a thousand or two. Number of transaction is like once a week on average.

My question to you all - is this normal? No other bank ever asked me for any such thing.

For some odd reasons it is triggering mainly for online accounts and / or who are doing mainly UPI transactions..

You should not have said “ whatever you think” kind of words..

Anyway banks can do re kyc . The mode may differ from bank to bank. But there are some guidelines issued by RBI regarding kyc formalities.. but who cares about RBI . Banks are doing their own way..
If you want , you can contest for the long drawn dispute.

What I would do, I would walk away if I don’t like how the bank treats me..
I don’t waste my time teaching them a lesson .. that’s me..
My time is much more valuable than teaching a tiny lesson.. ultimately they don’t care about these small small things

 

[SSV]

I opened account after month or so
My rm said we need to Home verification

I said ok I m not available
He took care of it .


So it's I guess mandatory in most private bank to do home verification so in event of any dispute they know your Home

This mandatory thing may be region specific..
Here in Hyderabad it is an exception rather than a rule.. rarely see / hear about these kinds of home verification for sb account in Hyderabad..

I have open 10 accounts including axis, IndusInd, IDFC etc , all online , never home verification happened

 

[SSV]

Banks would inform by mail/sms isn't it?
Few months ago my father's indusind account rekyc was necessary and he got email and sms.

Aise bin bulaye mehman ki tarah hazir nahi hua tha. And in netbanking also, father's account was showing kyc due. But I just checked, no rekyc is due for me.

Sometimes, their app / net banking does not reflect realtime data..
This re kyc thing is also based on customer risk profile and mode of re kyc can be different for different banks

My way of dealing things in these kinds of scenarios:
1) if you don’t like the bank , just move away from them after how they treat you
2) if you like them , try to solve the issue in a more practical way..

Best practice:
I do talk to BM once a while after I open an account with them.. this would help in these kinds of scenarios