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Jupiter - Refusing account closure due to POT account freeze, even though savings account is active.

  • Thread starter Thread starter Batman
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praful47 said:
I have already escalated this issue with RBI
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Do not misuse RBI for such stuff. Only file a complaint if they're not letting you close the account, not for stuff like changing of minimum balance amount with sufficient notice

Banks are free to change minimum balance requirements when as as they need. It is a business decision and the terms you signed will contain the same.

First of all your agreement was with Jupiter, which is not even regulated. Your account is with Federal, which is the entity that raised the MAB.
 
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Vishal N said:
Do not misuse RBI for such stuff. Only file a complaint if they're not letting you close the account, not for stuff like changing of minimum balance amount with sufficient notice

Banks are free to change minimum balance requirements when as as they need. It is a business decision and the terms you signed will contain the same.

First of all your agreement was with Jupiter, which is not even regulated. Your account is with Federal, which is the entity that raised the MAB.
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That's what I am trying to say from the very start
 
opbamldg said:
POTs is basically FD which Jupiter automatically creates while you did transactions from account, I always use break the FD and take the money in my account. I closed my Fi and Jupiter accounts back in 2022 because I basically took them for 0 forex charge thing which they had withdrawn back then. Write a very strong worded email to Jupiter keeping Federal Bank customer care in carbon copy(cc). Tell them break all pots and release them into your another savings account, you may later provide your cancelled cheque of another account in case they ask for one.
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GUYS HELP ME OUT. I CAN'T WITHDRAW MY MONEY FROM POT ACCOUNT. EVERY TIME I TRY TO WITHDRAW IT FAILED. THEY TOLD ME MY ACCOUNT IS DORMANT AND I NEED TO REACTIVATE IT AND I HAVE ALREADY SUBMITTED MY KYC DOCUMENTS AND POT ACCOUNT IS ACTIVE BUT STILL CAN'T WITHDRAW MONEY..ITS BEEN MONTHS BUT THEY ARE NOT TRYING TO RESOLVE MY ISSUE BUT THEY EXTENDING TIME AND TIME AGAIN. I AM SO FRUSTRATED..WHAT SHOULD I DO? GUYS HELP ME OUT.
 
Godfather101 said:
GUYS HELP ME OUT. I CAN'T WITHDRAW MY MONEY FROM POT ACCOUNT. EVERY TIME I TRY TO WITHDRAW IT FAILED. THEY TOLD ME MY ACCOUNT IS DORMANT AND I NEED TO REACTIVATE IT AND I HAVE ALREADY SUBMITTED MY KYC DOCUMENTS AND POT ACCOUNT IS ACTIVE BUT STILL CAN'T WITHDRAW MONEY..ITS BEEN MONTHS BUT THEY ARE NOT TRYING TO RESOLVE MY ISSUE BUT THEY EXTENDING TIME AND TIME AGAIN. I AM SO FRUSTRATED..WHAT SHOULD I DO? GUYS HELP ME OUT.
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t w e e t
 
Godfather101 said:
GUYS HELP ME OUT. I CAN'T WITHDRAW MY MONEY FROM POT ACCOUNT. EVERY TIME I TRY TO WITHDRAW IT FAILED. THEY TOLD ME MY ACCOUNT IS DORMANT AND I NEED TO REACTIVATE IT AND I HAVE ALREADY SUBMITTED MY KYC DOCUMENTS AND POT ACCOUNT IS ACTIVE BUT STILL CAN'T WITHDRAW MONEY..ITS BEEN MONTHS BUT THEY ARE NOT TRYING TO RESOLVE MY ISSUE BUT THEY EXTENDING TIME AND TIME AGAIN. I AM SO FRUSTRATED..WHAT SHOULD I DO? GUYS HELP ME OUT.
Click to expand...
Raise with RBI obudsman
 
Godfather101 said:
GUYS HELP ME OUT. I CAN'T WITHDRAW MY MONEY FROM POT ACCOUNT. EVERY TIME I TRY TO WITHDRAW IT FAILED. THEY TOLD ME MY ACCOUNT IS DORMANT AND I NEED TO REACTIVATE IT AND I HAVE ALREADY SUBMITTED MY KYC DOCUMENTS AND POT ACCOUNT IS ACTIVE BUT STILL CAN'T WITHDRAW MONEY..ITS BEEN MONTHS BUT THEY ARE NOT TRYING TO RESOLVE MY ISSUE BUT THEY EXTENDING TIME AND TIME AGAIN. I AM SO FRUSTRATED..WHAT SHOULD I DO? GUYS HELP ME OUT.
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Is amount big?
 
Godfather101 said:
GUYS HELP ME OUT. I CAN'T WITHDRAW MY MONEY FROM POT ACCOUNT. EVERY TIME I TRY TO WITHDRAW IT FAILED. THEY TOLD ME MY ACCOUNT IS DORMANT AND I NEED TO REACTIVATE IT AND I HAVE ALREADY SUBMITTED MY KYC DOCUMENTS AND POT ACCOUNT IS ACTIVE BUT STILL CAN'T WITHDRAW MONEY..ITS BEEN MONTHS BUT THEY ARE NOT TRYING TO RESOLVE MY ISSUE BUT THEY EXTENDING TIME AND TIME AGAIN. I AM SO FRUSTRATED..WHAT SHOULD I DO? GUYS HELP ME OUT.
Click to expand...
DM me. I was in the same situation. I can tell you how to proceed.
 
My main savings account has gone dormant. I even visited the nearest Federal Bank branch but they are saying they haven't got any request to do reKYC etc, basically making excuses to not do reKYC. I have around 10 K in the account. Can I directly ask them to close the account? Will the amount be sent to my other bank account without doing KYC?
 
DevWalker said:
My main savings account has gone dormant. I even visited the nearest Federal Bank branch but they are saying they haven't got any request to do reKYC etc, basically making excuses to not do reKYC. I have around 10 K in the account. Can I directly ask them to close the account? Will the amount be sent to my other bank account without doing KYC?
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I think they r required to do kyc, if you want to transfer money

Directly close that ac and you will get DD cheque (home or bank branch) for the outstanding amount
 
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