Home verification indusind bank. Is this normal?

[Vasuki]

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

None happened to me too
Because money talks

 

[SSV]

None happened to me too
Because money talks

I am not talking my own account only.

I dont hear any of these kind of stories in Hyderabad.. where as you are mentioning it happens there frequently..
and also you mentioned your RM called you for home verification but you manged it without actually doing it physically..

the point here is : it actually triggered home verification for you also...

where as in our local cases, it wont even trigger

that is why I said " It might be a region specific thing" ..

 

[Vasuki]

the point here is : it actually triggered home verification for you also...

where as in our local cases, it wont even trigger

For new account it's mandatory now
Hdfc ,idfc ,indus also managed it

Unless u have same address in aadhar

 

[SSV]

w

For new account it's mandatory now
Hdfc ,idfc ,indus also managed it

Unless u have same address in aadhar

okay .. good .. It is obvious that if the address doesn't match with aadhar, then there has to be some sort of verification ..
It is good that you narrowed it down to the cases , where the home verification may become mandatory..

 

[telescope]

Debit freeze incoming. Lol

My account has been placed under debit freeze. Also received a letter from local branch for the same. In the letter thay mentioned my account as current account but in reality, it is savings account.

Went to branch today and gave an earful. There were few people there in the branch (mostly senior citizens) with the same problem of debit freeze.

When I asked for explanation, they didn't give any, and asked me to give in writing explaining "VISA POS" transactions. I have only virtual gold dc in this account, which I used for paying cc bills and wallet loads. In the letter given that explanation. Don't know what will happen.

Branch people didn't even give a timeline when account will be unblocked. One senior citizen with same freezing issue I overheard, that his problem is since 2 months.

 

[plastikman]

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

Even after physical verification of my residence they took a week to unblock my account. Then after a 10-12 days, they have again sent a message indicating that kyc needs to be redone at the branch.

I'm thoroughly fed-up of Indusind banking division and have emptied my account. I don't want to deal with this debit freeze issue again. Their Cards division is very efficient but banking systems is nit at par.

Gujarat HC in its 2012 order has specified that bank cannot freeze an account even if kyc documents have not been satisfied.

Can banks freeze a customer's account for non-compliance with Re-KYC (KYC review)?

Neither RBI on its own can direct, a partial or total freeze of Re-KYC due (non-compliant) bank account nor it can delegate such authority to any bank/branch to impose such a freeze. RBI has formally confirmed that the directions it had given in Sept 2014 were applicable before the amendment on...

www.caclubindia.com

I suggest that you write a strongly worded mail to escalations and warn them that if nit activated within 5 days you'll approach RBIO.

Then in 5th day file a complaint with RBIO for harassment.

 

[telescope]

Even after physical verification of my residence they took a week to unblock my account. Then after a 10-12 days, they have again sent a message indicating that kyc needs to be redone at the branch.

I'm thoroughly fed-up of Indusind banking division and have emptied my account. I don't want to deal with this debit freeze issue again. Their Cards division is very efficient but banking systems is nit at par.

Gujarat HC in its 2012 order has specified that bank cannot freeze an account even if kyc documents have not been satisfied.

Can banks freeze a customer's account for non-compliance with Re-KYC (KYC review)?

Neither RBI on its own can direct, a partial or total freeze of Re-KYC due (non-compliant) bank account nor it can delegate such authority to any bank/branch to impose such a freeze. RBI has formally confirmed that the directions it had given in Sept 2014 were applicable before the amendment on...

www.caclubindia.com

I suggest that you write a strongly worded mail to escalations and warn them that if nit activated within 5 days you'll approach RBIO.

Then in 5th day file a complaint with RBIO for harassment.

I don't have any hope from their customer care idiots. Though as you have suggested, I'll wrote an email to their PNO. Then RBIO. Hope this will solve the problem. I'll close this account as soon as the freeze is removed. To hell with these jockers.

 

[telescope]

Even after physical verification of my residence they took a week to unblock my account. Then after a 10-12 days, they have again sent a message indicating that kyc needs to be redone at the branch.

I'm thoroughly fed-up of Indusind banking division and have emptied my account. I don't want to deal with this debit freeze issue again. Their Cards division is very efficient but banking systems is nit at par.

Gujarat HC in its 2012 order has specified that bank cannot freeze an account even if kyc documents have not been satisfied.

Can banks freeze a customer's account for non-compliance with Re-KYC (KYC review)?

Neither RBI on its own can direct, a partial or total freeze of Re-KYC due (non-compliant) bank account nor it can delegate such authority to any bank/branch to impose such a freeze. RBI has formally confirmed that the directions it had given in Sept 2014 were applicable before the amendment on...

www.caclubindia.com

I suggest that you write a strongly worded mail to escalations and warn them that if nit activated within 5 days you'll approach RBIO.

Then in 5th day file a complaint with RBIO for harassment.

When I went there, they pulled a list of printed papers (estimated more than 200) and was searching my name in that list. That's the list of account they blocked from one single branch. Absolutely horrible.

 

[Bohra]

Why do they block ?

 

[telescope]

Why do they block ?

only god knows.

 

[telescope]

My account has been placed under debit freeze. Also received a letter from local branch for the same. In the letter thay mentioned my account as current account but in reality, it is savings account.

Went to branch today and gave an earful. There were few people there in the branch (mostly senior citizens) with the same problem of debit freeze.

When I asked for explanation, they didn't give any, and asked me to give in writing explaining "VISA POS" transactions. I have only virtual gold dc in this account, which I used for paying cc bills and wallet loads. In the letter given that explanation. Don't know what will happen.

Branch people didn't even give a timeline when account will be unblocked. One senior citizen with same freezing issue I overheard, that his problem is since 2 months.

An update: freeze has been removed now.

 

[telescope]

An update: freeze has been removed now.

So, after giving clarification for visa pos transactions at branch I waited for 2 weeks, and no progress at all.

Got frustrated and wrote an email to PNO, last week. Got a call and email from PNO the next day that I need to visit branch and update kyc documents. Told her that kyc already submitted 2 weeks ago along with clarification letter. Next day, got another email from pno that the freeze was due to "credit from multiple sources", which was ABSOLUTELY FALSE. In reality all my credit transactions were from my own account only. Total number of transactions were also few. I got super angry and replied with a strongly worded email pointing out their bullsh*t. I said in the email that my account is more than a decade old, and you people do not not even have common sense to tell me which particular transaction or, the time frame within which the transactions you are referring to".

Got a callback Saturday morning from pno again and she said there was a miscommunication and that I do not need to provide any clarification and just kyc update at branch will be enough. I told her that I already gave kyc documents at branch and I can't go to branch again and again. She said, "then I'll instruct branch to visit your home."

Same evening a lousy fellow came home and clicked picture of me and kyc documents. When he was going away, my father was there. He suddenly said "I'll take a photo of uncle". I protested and said, "it's my account why are you involving my father? don't take his picture". Then he went away.

After that no communication from bank's side. Just a while ago I tried to do test transaction and it went through. So, freeze is removed. Moved away all money from this account. Shall close it soon.

 

[Bohra]

So, after giving clarification for visa pos transactions at branch I waited for 2 weeks, and no progress at all.

Got frustrated and wrote an email to PNO, last week. Got a call and email from PNO the next day that I need to visit branch and update kyc documents. Told her that kyc already submitted 2 weeks ago along with clarification letter. Next day, got another email from pno that the freeze was due to "credit from multiple sources", which was ABSOLUTELY FALSE. In reality all my credit transactions were from my own account only. Total number of transactions were also few. I got super angry and replied with a strongly worded email pointing out their bullsh*t. I said in the email that my account is more than a decade old, and you people do not not even have common sense to tell me which particular transaction or, the time frame within which the transactions you are referring to".

Got a callback Saturday morning from pno again and she said there was a miscommunication and that I do not need to provide any clarification and just kyc update at branch will be enough. I told her that I already gave kyc documents at branch and I can't go to branch again and again. She said, "then I'll instruct branch to visit your home."

Same evening a lousy fellow came home and clicked picture of me and kyc documents. When he was going away, my father was there. He suddenly said "I'll take a photo of uncle". I protested and said, "it's my account why are you involving my father? don't take his picture". Then he went away.

After that no communication from bank's side. Just a while ago I tried to do test transaction and it went through. So, freeze is removed. Moved away all money from this account. Shall close it soon.

How much balance was there and how many UPI transactions

 

[Riya Sharma]

I hate these people. I don’t understand why they develop an attitude like this. Do these people and banks think they are above the customer? There are dozens of other banks where we could’ve opened an account. WE choose you not the other way around.

 

[telescope]

How much balance was there and how many UPI transactions

very few UPi transactions. total number of transactions were also less. transaction pattern was also similar all these years.

 

[Bohra]

very few UPi transactions. total number of transactions were also less. transaction pattern was also similar all these years.

No wonder I think SBI is the best bank to keep an account now I was trying for wealth account but this is scary