Kotak 811 Digital Account Debit Freeze

[beingmohit]

I deposited around INR 1.5l in my wife's Kotak 811 account. Today, we discovered that they randomly froze her account. As per the email communication, she has to visit her home branch to unfreeze the account. The problem is we are not in India currently and we won't be there in the foreseeable future. What are my options?

 

[romilq]

Damn, I have 1.5 lakh in my wife account. Should I be worried as she is house wife and funds were transferred from my account.

Kotak 811 Digital Account Freeze

I deposited around INR 1.5l in my wife's Kotak 811 account. Today, we discovered that they randomly froze her account. As per the email communication, she has to visit her home branch to unfreeze the account. The problem is we are not in India currently and we won't be there in the foreseeable...

www.technofino.in

 

[Shubham Yadav]

Damn, I have 1.5 lakh in my wife account. Should I be worried as she is house wife and funds were transferred from my account.

Take your money back otherwise kotak will take

 

[beingmohit]

Update ?

They are adamant that we have to visit the branch to get it unblocked. I am planning to visit the branch and close the account once and for all when I am in India

 

[Vanshika Goel]

Damn, I have 1.5 lakh in my wife account. Should I be worried as she is house wife and funds were transferred from my account.

Let me tell you something fishy about Kotak they block accounts on the basis of the occupation you provided during account opening as all banks do and when the limit is used the double the income you provided their system starts flagging those accounts and backhand team starts sending warning letters and then block. Better to upgrade your account to Kotak 811 Edge which is a 10k MAB account and also upgrade your occupation to business with higher salary and you will be safe up to some extent.

This happened to me too but changed my account variant before they froze it. After the freeze, it is quite impossible to unfreeze it until and unless you have good connections and well-proofs for those transactions.

 

[romilq]

You can just change your profile details in existing 0 balance account instead of upgrading the account. I did the same.

Let me tell you something fishy about Kotak they block accounts on the basis of the occupation you provided during account opening as all banks do and when the limit is used the double the income you provided their system starts flagging those accounts and backhand team starts sending warning letters and then block. Better to upgrade your account to Kotak 811 Edge which is a 10k MAB account and also upgrade your occupation to business with higher salary and you will be safe up to some extent.

This happened to me too but changed my account variant before they froze it. After the freeze, it is quite impossible to unfreeze it until and unless you have good connections and well-proofs for those transactions.

 

[Vanshika Goel]

You can just change your profile details in existing 0 balance account instead of upgrading the account. I did the same.

But when you have got a warning letter from Kotak then I don't think this will work. Then this is too late.

Also Kotak 0 balance account has too many restrictions as it is zero balance but bank is not going to give you all freedom, they also want their MAB to reach their customer and if you do many transactions they will definitely gonna ask you sooner or later.

 

[samm255]

@Vanshika Goel @romilq thanks for the input. Just transferred 1 lakh from UPI and 25k from IMPS due to 24 hours limit. Wil transfer the rest tomorrow and only will keep under 5k. Don't want to roam around branch if they decide to freeze it.

 

[romilq]

What restrictions are you talking about exactly ? It’s a full fledged savings account. Nothing will happen if you have your profile details updated properly. Any savings account regardless of MAB amount will be blocked if you do more transactions than your reported income in profile details.

But when you have got a warning letter from Kotak then I don't think this will work. Then this is too late.

Also Kotak 0 balance account has too many restrictions as it is zero balance but bank is not going to give you all freedom, they also want their MAB to reach their customer and if you do many transactions they will definitely gonna ask you sooner or later.

 

[ccdc]

can we close the damn account? or they would create some problems in account closure also?

 

[Vanshika Goel]

What restrictions are you talking about exactly ? It’s a full fledged savings account. Nothing will happen if you have your profile details updated properly. Any savings account regardless of MAB amount will be blocked if you do more transactions than your reported income in profile details.

You must try then....my brother had mentioned in his profile as a business and income 25 L to 50L after doing only 5L a month for 3 months he received a call from the Branch Manager stating show us proof of your transaction and the transaction were on Paytm itself but send a warning letter at home that if found any further transaction your account will be freeze or upgrade it to current or change the variant.

He asked the same question you are asking but they didn't listen. they were going to block the account on the very next day but he cleverly changed his home branch on the day before. Then he changed his account to Trinity and 10K Edge to get higher limits on every transaction.

 

[ccdc]

You must try then....my brother had mentioned in his profile as a business and income 25 L to 50L after doing only 5L a month for 3 months he received a call from the Branch Manager stating show us proof of your transaction and the transaction were on Paytm itself but send a warning letter at home that if found any further transaction your account will be freeze or upgrade it to current or change the variant.

He asked the same question you are asking but they didn't listen. they were going to block the account on the very next day but he cleverly changed his home branch on the day before. Then he changed his account to Trinity and 10K Edge to get higher limits on every transaction.

happened same with me in rbl...but those buggers didn't bother to call...they just froze my account....now they're asking for itr and proof of transactions...

 

[TheTrickySid]

happened same with me in rbl...but those buggers didn't bother to call...they just froze my account....now they're asking for itr and proof of transactions...

Can you share your exact story??
What has exactly happened??

 

[varun__goel_]

happened same with me in rbl...but those buggers didn't bother to call...they just froze my account....now they're asking for itr and proof of transactions...

So they are not even ready to close a/c and give your money back?

 

[ccdc]

Can you share your exact story??
What has exactly happened??

i opened an account.....started using it....they blocked it...on asking y they told your credits in the account doesn't match your income you declared while opening account...i told...go to hell.....i'll close after 6m

 

[ccdc]

So they are not even ready to close a/c and give your money back?

i'll try to close after 6m since they have 600 as account closing fees before 6m

 

[varun__goel_]

i opened an account.....started using it....they blocked it...on asking y they told your credits in the account doesn't match your income you declared while opening account...i told...go to hell.....i'll close after 6m

This is not right. Banks shouldn't be given authority to freeze acc until and unless they are notified by any department.

 

[TheTrickySid]

i opened an account.....started using it....they blocked it...on asking y they told your credits in the account doesn't match your income you declared while opening account...i told...go to hell.....i'll close after 6m

RBL has issue with online kyc.
Offline kyc has no issues.

 

[ccdc]

RBL has issue with online kyc.
Offline kyc has no issues.

is it...i had opened an account online only....

 

[romilq]

This is not right. Banks shouldn't be given authority to freeze acc until and unless they are notified by any department.

They have that authority. You cannot declare 2 lakhs income yearly and deposit 10 lakhs. The system will flag it and you will have to explain the transactions. This is according to RBI rules. If bank is caught not following RBI guidelines and allows customers to keep doing this then they may face a ban and fine from RBI. Look at Paytm bank. They cannot onboard new customers for a year now since there were irregularities in KYC of customers.

 

[romilq]

You must try then....my brother had mentioned in his profile as a business and income 25 L to 50L after doing only 5L a month for 3 months he received a call from the Branch Manager stating show us proof of your transaction and the transaction were on Paytm itself but send a warning letter at home that if found any further transaction your account will be freeze or upgrade it to current or change the variant.

He asked the same question you are asking but they didn't listen. they were going to block the account on the very next day but he cleverly changed his home branch on the day before. Then he changed his account to Trinity and 10K Edge to get higher limits on every transaction.

If your profile details are correct and you have explanation of transactions then you won’t face issues. The bank will be heavily fined by RBI if you complain regarding this. They cannot block any account on their will. They can freeze and aak for explanation. If you have proper explanation and declaration of profile details correct then no bank can do anything.