Just Closed an Axis Bank BSBDA account from Axis Mobile app.

[me_sovon]

I had a Basic Savings Account ( BSBDA ), a zero balance account with debit card and many restrictions.

I opened the account 2 years ago, and it has no use for me. When I was opening the account they were denying at first and then after Twitter complaint they completed the process. But also warned me that if I want to close the account it will be hectic.

But today I found an option on the Axis Mobile app " Account Closure" and I tried to close the account, and the account successfully closed.

On Bank account is showing on the app, even if I want to add Axis Bank account on upi it's showing that the account is inactive.
So I guess the account is closed.

Also before doing this, I talked with customer support, they still have no idea, they are saying me to visit the branch as online account closure is not available.

One agent told me the online account closure project is not released yet, it's on testing mode.

So I guess the option is live now.

 

[Channakya]

Good for you !

 

[me_sovon]

Good for you !

From the beginning I know that, this account has nothing and eventually I will close this.
But I opened this account to satisfy my ego.

The agent told me we don't have any zero balance account, so I decided that I will open the account, then twitter complaint and the same agent opened the account and himself came to my house to deliver the kit and location verification.

I was planning to close the account but don't want to visit the branch, so online closure option saved me

 

[praful47]

I had a Basic Savings Account ( BSBDA ), a zero balance account with debit card and many restrictions.

I opened the account 2 years ago, and it has no use for me. When I was opening the account they were denying at first and then after Twitter complaint they completed the process. But also warned me that if I want to close the account it will be hectic.

But today I found an option on the Axis Mobile app " Account Closure" and I tried to close the account, and the account successfully closed.

On Bank account is showing on the app, even if I want to add Axis Bank account on upi it's showing that the account is inactive.
So I guess the account is closed.

Also before doing this, I talked with customer support, they still have no idea, they are saying me to visit the branch as online account closure is not available.

One agent told me the online account closure project is not released yet, it's on testing mode.

So I guess the option is live now.

what type of restrictions did you faced ?

 

[me_sovon]

what type of restrictions did you faced ?

Credit card for these accounts are not applicable.

Transaction limits are there, I'm not sure about the number but I think it was only 4 transactions in a month.

Total credits in such accounts should not exceed one lakh rupees in a year.

Maximum balance in the account should not exceed fifty thousand rupees at any time

The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees in a month.

No debit card offers will applicable on this Rupay Debit card.

If any of these violated, the account will be freezed. And I have to visit branch and I have to give them a proper reason for the violation, then it depends on them if they will unblock or not.

Also my RM told me that I will not able to upgrade this account easily , even I will not open any other regular account with this. Also if I hold this account I will never be able to get any credit cards.
If I want to open any ragular savings account, I have to close this account first. Now I'm not sure how much true is this. But yes there are some restrictions but not sure about this regular savings account restriction.

 

[praful47]

Credit card for these accounts are not applicable.

Transaction limits are there, I'm not sure about the number but I think it was only 4 transactions in a month.

Total credits in such accounts should not exceed one lakh rupees in a year.

Maximum balance in the account should not exceed fifty thousand rupees at any time

The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees in a month.

No debit card offers will applicable on this Rupay Debit card.

These are all in paper .. but did you really faced these issues ?

 

[ritwik2000]

Total credits in such accounts should not exceed one lakh rupees in a year.

Maximum balance in the account should not exceed fifty thousand rupees at any time

The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees in a month.

These restrictions are there in BSBDA Small (No KYC/Mini KYC) but if you do Full KYC these restrictions are not there.

 

[ritwik2000]

These are all in paper .. but did you really faced these issues ?

Same question. Even my bank told the same during account opening. But the welcome letter has clear words mentioning no restriction for Full KYC Bsbda account.

 

[praful47]

These restrictions are there in BSBDA Small (No KYC/Mini KYC) but if you do Full KYC these restrictions are not there.

can we use that axis bsbda debit card and get grabdeals discount ?

 

[ritwik2000]

comparison between bsbda full kyc and bsbda relaxed kyc aka mini kyc

 

[dravidsarang]

More and more banks are enabling option to close SB account online without the hassle of visiting branch.
Read a very similar thread for ICICI and now comes Axis. Wish all other banks also take the lead and I am sure millions of ~ dormant accounts will be closed in a small period of time.

Most of the consumers for these dormant accounts do not want to take the hassle of visiting branch (specially when it comes to visting home branch) and keep the account either active with MRB or keep them 0 balance account.

Myself, I need to close a Kotak joint SB account which I opened in 2017 but just keeping it open thanks to my laziness.

 

[ritwik2000]

can we use that axis bsbda debit card and get grabdeals discount ?

Cant say about that as I dont have axis bsbda but all I can say is BSBDA accounts are a initiative of government and banks has to follow RBI guidelines and treat it as normal banking service.

 

[praful47]

Cant say about that as I dont have axis bsbda but all I can say is BSBDA accounts are a initiative of government and banks has to follow RBI guidelines and treat it as normal banking service.

PRIVATE banks will never tell all these things

 

[me_sovon]

These are all in paper .. but did you really faced these issues ?

Actually I never tried, because I don't want to visit the branch and argue with them.
Personally I felt that, as I'm a zero balance account holder they behaved like we are untouchables, so they rarely answered properly.
I have already accounts in BOB, SBI, PNB, Federal Bank so i never used this account

 

[me_sovon]

can we use that axis bsbda debit card and get grabdeals discount ?

I was trying but the page is not showing, some kind of error was there everytime.
Although I don't have many transactions so I'm not sure about the deals aslo

 

[me_sovon]

PRIVATE banks will never tell all these things

Exactly the RM was continuously convincing me to open a regular account, after I denied he was counting this drawbacks.

 

[praful47]

Actually I never tried, because I don't want to visit the branch and argue with them.
Personally I felt that, as I'm a zero balance account holder they behaved like we are untouchables, so they rarely answered properly.
I have already accounts in BOB, SBI, PNB, Federal Bank so i never used this account

you can use these accounts for day to day upi or small transactions to be on safe side

 

[me_sovon]

More and more banks are enabling option to close SB account online without the hassle of visiting branch.
Read a very similar thread for ICICI and now comes Axis. Wish all other banks also take the lead and I am sure millions of ~ dormant accounts will be closed in a small period of time.

Most of the consumers for these dormant accounts do not want to take the hassle of visiting branch (specially when it comes to visting home branch) and keep the account either active with MRB or keep them 0 balance account.

Myself, I need to close a Kotak joint SB account which I opened in 2017 but just keeping it open thanks to my laziness.

My main purpose for this post is to inform about the online account closure option because customer support agents are not aware of this thing right now.

 

[praful47]

My main purpose for this post is to inform about the online account closure option because customer support agents are not aware of this thing right now.

But your account is not deleted from their system . no use

 

[me_sovon]

you can use these accounts for day to day upi or small transactions to be on safe side

BOB is my primary account now, they are pretty much good at that, never got an transaction failure or something. Even after being a public sector bank, my branch is very helpful and active, they even reply on mail within 1 or 2 hours.

Also as I was thinking to do some transaction with the Axis account, but already told you that my relation with the branch is not good enough.

They called me 7 PM and asked me to visit Bank and then the whole branch took my class for complaining on twitter along with branch manager, so I was little bit uncomfortable that if the account blocked I have to visit the branch