Should I Raise an RBI Complaint? Account Closure Issue with Yes Bank

[Harsh007]

My parents have a current account in Yes Bank, which they requested to close around 1.5 years ago. They surrendered the debit card and cheque book, and the branch employee said everything was good to go and that the account would be closed soon.

However, after a few days, they noticed that the account was still open. When they visited the branch again, they were told that the system was showing they hadn’t surrendered the POS machine. The thing is, they had already returned the POS machine long before they requested the account closure.

The branch employee said he would look into it, but despite multiple follow-ups, nothing happened—just new excuses each time.

A week ago, I found the receipt confirming the surrender of the POS machine and gave it to the branch employee. He then said he would finally close the account.

But now, they’re telling me the account has a negative balance of over ₹1000 due to non-AMB maintenance and debit card fees, which my parents need to pay to close the account.

I’m pretty sure this isn’t allowed under RBI rules (your balance shouldn’t go negative).

Should I escalate this to the RBI? Can i ask for compensation? Has anyone dealt with something like this before?

 

[theflash]

A week ago, I found the receipt confirming the surrender of the POS machine and gave it

You have this or its with them now!

If you have this raise a mail and wait for their reply if no reply received then proceed to RBI Ombudsman.

 

[Harsh007]

You have this or its with them now!

If you have this raise a mail and wait for their reply if no reply received then proceed to RBI Ombudsman.

I have the original document with me and have given them a copy.

Will raise a mail today.
Should I raise it to level 1 customer care or directly to nodal officer?

 

[theflash]

I have the original document with me and have given them a copy.

Will raise a mail today.
Should I raise it to level 1 customer care or directly to nodal officer?

Lvl1 is waste try nodal directly.

 

[imdjay]

My parents have a current account in Yes Bank, which they requested to close around 1.5 years ago. They surrendered the debit card and cheque book, and the branch employee said everything was good to go and that the account would be closed soon.

However, after a few days, they noticed that the account was still open. When they visited the branch again, they were told that the system was showing they hadn’t surrendered the POS machine. The thing is, they had already returned the POS machine long before they requested the account closure.

The branch employee said he would look into it, but despite multiple follow-ups, nothing happened—just new excuses each time.

A week ago, I found the receipt confirming the surrender of the POS machine and gave it to the branch employee. He then said he would finally close the account.

But now, they’re telling me the account has a negative balance of over ₹1000 due to non-AMB maintenance and debit card fees, which my parents need to pay to close the account.

I’m pretty sure this isn’t allowed under RBI rules (your balance shouldn’t go negative).

Should I escalate this to the RBI? Can i ask for compensation? Has anyone dealt with something like this before?

First raise a written complaint with Bank.
then if they don't resolve it. Escalate to RBIO.

 

[ritwik2000]

@Harsh007
write a mail to principal.nodalofficer@yesbank.in and attach all the necessary documents like closure acknowledgment slip and pos surrender acknowledgement slip.

And also if during account closure time the account did not had negative balance you need not worry. Since the account is active the first thing you should do is download the bank statements from the account closure period. This will come handy while filling a complaint at RBI if matter not solved at bank level.

If not solved inbox me for more info.

 

[cc_dc_explorer]

To be frank, Yes Bank Service is Shitty as well along with Axis. Yes bank has launched good products recently but their service is pretty bad. I opened Grandeur acc thinking will get good service being premium/HNI customer. They just reply same email format for any issue you raise. They asks to wait for 7 days and then give shitty reply and close the ticket.

I am fed up with YES Bank and will close my account. Will move to IndusInd probably.

 

[ritwik2000]

To be frank, Yes Bank Service is Shitty as well along with Axis. Yes bank has launched good products recently but their service is pretty bad. I opened Grandeur acc thinking will get good service being premium/HNI customer. They just reply same email format for any issue you raise. They asks to wait for 7 days and then give shitty reply and close the ticket.

I am fed up with YES Bank and will close my account. Will move to IndusInd probably.

Can't agree more and moreover they call from VoIP phones. They say they called you but in reality you never receive the call. This problem is specific to yes bank only and they don't even acknowledge this problem.

 

[theflash]

To be frank, Yes Bank Service is Shitty as well along with Axis. Yes bank has launched good products recently but their service is pretty bad. I opened Grandeur acc thinking will get good service being premium/HNI customer. They just reply same email format for any issue you raise. They asks to wait for 7 days and then give shitty reply and close the ticket.

I am fed up with YES Bank and will close my account. Will move to IndusInd probably.

I'm raising RBIO complaint once the desired timeline is over...

 

[cc_dc_explorer]

I will also raise complaint. Just waiting for final response on the ticket.

 

[Harsh007]

Thanks, everyone, for your suggestions.

I've emailed the nodal officer and I'm waiting for a reply. I'll let you know what they say.

 

[Harsh007]

Received a call from the deputy branch manager asking for my parents to visit the branch tomorrow.
Will update here tomorrow after they meet them.

 

[quino]

Received a call from the deputy branch manager asking for my parents to visit the branch tomorrow.

if you are fine with it, let him know that you won't be visiting the branch to fix their issue.

if needed, the branch officials can visit you guys at home.

why to add stress to your parents.