RBIO: Got Compensation of ₹10,000 from Canara Bank

[sjmajumder]

Just now received a call from Canara Bank call center asking for feedback on the resolution provided by the bank. I had a tough time explaining to her the resolution was not given by the bank, it was given by RBIO and as such I am happy with the resolution but not happy with the bank

 

[theflash]

I can guarantee you bank will not reverse, you have to complaint to RBIO. Since you can't prove that you didn't get mail/sms you have to try taking a confirmation from bank that notifications were not sent. If you can get it your case is solid, if you can't then it will depend on RBIO what he thinks.

RBIO is the only way? I thought mailing bank might help. Ok thanks I'll check and do the needful.

 

[sjmajumder]

RBIO is the only way? I thought mailing bank might help. Ok thanks I'll check and do the needful.

Of course your first step is to mail the bank. But bank won't do it (99.99%) - this is what they live on.

 

[Hitarth]

Of course your first step is to mail the bank. But bank won't do it (99.99%) - this is what they live on.

I had closed my kotal credit card in June 2024, when I checked on CIBIL the card is still showing active so I sent email to kotak regarding that and as per CIBIL if the card is closed and not updated within 30 days bank is liable to pay 100rs penalty per day so I asked for the compensation of 24000 rs. Let see what happens.

Can you please share your thoughts on this is that correct or not? Do I need to modify anything? thank you!

 

[sjmajumder]

I had closed my kotal credit card in June 2024, when I checked on CIBIL the card is still showing active so I sent email to kotak regarding that and as per CIBIL if the card is closed and not updated within 30 days bank is liable to pay 100rs penalty per day so I asked for the compensation of 24000 rs. Let see what happens.

Can you please share your thoughts on this is that correct or not? Do I need to modify anything? thank you!

Your first priority should be to get the issue resolved and then ask for compensation.

 

[Hitarth]

Your first priority should be to get the issue resolved and then ask for compensation.

Oh, so there would be separate email after issue resolution ? Or in same email once issue resolved?

 

[mrbanker]

Objective of RBIO complaint is to raise my voice against injustice done to common people by banks. Hence I will refrain from answering this question.

The country is already scammed by the central bank in ways the general public cannot comprehend, eg. forex price setting of INR against USD is only known to a few in the ivory towers.

 

[theflash]

Of course your first step is to mail the bank. But bank won't do it (99.99%) - this is what they live on.

Now today received a message that MAB was not maintained in Jan although I had added 10k on 2nd Jan itself. Can they charge for 1 day not maintained? Also for Jan receive message today and no intimation before.

I'll raise a mail today evening for previous messages...

 

[sjmajumder]

Now today received a message that MAB was not maintained in Jan although I had added 10k on 2nd Jan itself. Can they charge for 1 day not maintained? Also for Jan receive message today and no intimation before.

I'll raise a mail today evening for previous messages...

It is not about 1 day. MAB means Monthly Average Balance. It is calculated as:

MAB = Sum of (day end balance of each day of the month) / (no of days in the month)

If this is less than your required MAB then yes they can charge after giving intimation.

 

[hender]

Now today received a message that MAB was not maintained in Jan although I had added 10k on 2nd Jan itself. Can they charge for 1 day not maintained? Also for Jan receive message today and no intimation before.

I'll raise a mail today evening for previous messages...

That's the whole play, out of 100 if 40 is pass, than 37, 38 or 39 all failed and need to reappear again.
If you are less even a rupee as per calculation be it month of Feb , March or April( 28 D or 29 D, 31 D or 30 D) than only - penalty charges kicks in.

 

[theflash]

That's the whole play, out of 100 if 40 is pass, than 37, 38 or 39 all failed and need to reappear again.
If you are less even a rupee as per calculation be it month of Feb , March or April( 28 D or 29 D, 31 D or 30 D) than only - penalty charges kicks in.

But my question is bank required to intimate the customer that "You've not maintained the MAB kindly do so or else we'll charge" ?

 

[hender]

But my question is bank required to intimate the customer that "You've not maintained the MAB kindly do so or else we'll charge" ?

Who cares, what's your RIGHT।।।

That's the 👉, Suffering is the right of customer, whosoever mistake is !!!
Solution: Keep complaining, get anxious Pill - Free.

 

[hender]

But my question is bank required to intimate the customer that "You've not maintained the MAB kindly do so or else we'll charge" ?

On a separate debit card issue, after raising issue at higher level, During Interaction with Bank of India, Employee, When I asked why customer is not informed via Registered Email, SMS, Net banking, Mobile banking anywhere ....

She said - Sir wo to backend se hota hai...

and I am be like -
"अभी कस्टमर कौन से 🔚 पर है"

 

[theflash]

On a separate debit card issue, after raising issue at higher level, During Interaction with Bank of India, Employee, When I asked why customer is not informed via Registered Email, SMS, Net banking, Mobile banking anywhere ....

She said - Sir wo to backend se hota hai...

and I am be like -
"अभी कस्टमर कौन से 🔚 पर है"

Customer is on the far end where the bank can't see us 🤣.

 

[hender]

But my question is bank required to intimate the customer that "You've not maintained the MAB kindly do so or else we'll charge" ?

Now see the mail, and help me decoding the solution they provided.

" कहना क्या चाहते हो ""

 

[sjmajumder]

But my question is bank required to intimate the customer that "You've not maintained the MAB kindly do so or else we'll charge" ?

Levy of charges for non-maintenance of minimum balance in savings bank account shall be subject to the following additional guidelines:
(i) In the event of a default in maintenance of minimum balance/average minimum balance as agreed to between the bank and customer, the bank should notify the customer clearly by SMS/ email/ letter etc. that in the event of the minimum balance not being restored in the account within a month from the date of notice, penal charges will be applicable.
(ii) In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges may be recovered under intimation to the account holder.

 

[hender]

Levy of charges for non-maintenance of minimum balance in savings bank account shall be subject to the following additional guidelines:
(i) In the event of a default in maintenance of minimum balance/average minimum balance as agreed to between the bank and customer, the bank should notify the customer clearly by SMS/ email/ letter etc. that in the event of the minimum balance not being restored in the account within a month from the date of notice, penal charges will be applicable.
(ii) In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges may be recovered under intimation to the account holder.

Sometime it feels, hire a full time lawyer...

 

[KGF]

Levy of charges for non-maintenance of minimum balance in savings bank account shall be subject to the following additional guidelines:
(i) In the event of a default in maintenance of minimum balance/average minimum balance as agreed to between the bank and customer, the bank should notify the customer clearly by SMS/ email/ letter etc. that in the event of the minimum balance not being restored in the account within a month from the date of notice, penal charges will be applicable.
(ii) In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges may be recovered under intimation to the account holder.

Canara bank gave no such notice despite having mobile number and email ID. Cut for 3 months before I noticed the charges and funded it. It was less than MAB by just 5rs I think.

 

[sjmajumder]

Canara bank gave no such notice despite having mobile number and email ID. Cut for 3 months before I noticed the charges and funded it. It was less than MAB by just 5rs I think.

That's why I got the 10K in addition to reversal of the charges - they did deduct GST while reversing.