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Worst experience with Indusind pioneer banking program

Madhur Pareek

TF Buzz
VIP Lounge
RML Group
I have opened a indusind bank pioneer account on 5th of Aug and initial funding cheque was cleared on 12th of August but still funda are not yet credited to my account and still account is not activated.

My funds are completely blocked and can't be used until that account is activated and I receive the netbanking/debit card.

Please suggest if I can escalate them to RBI level and how and what kind of penalty/compensation I can ask from the bank if there is any rule from RBI?

Please advise.
 
compensation depends on rbi based on your case. its upto them but you can ask upto 1L.

only solution in your case is through branch correct the activation issues and get it. no matter whether you raised issue through email, support it ultimately reaches to branch. so check with branch for activation related.
 
compensation depends on rbi based on your case. its upto them but you can ask upto 1L.

only solution in your case is through branch correct the activation issues and get it. no matter whether you raised issue through email, support it ultimately reaches to branch. so check with branch for activation related.
Branch is saying we are doing it and will do it by this and just apologising, nothing else.

But I thought if we have any RBI rule which says if your cheque or fund didn't credited to your account so you ask per day penalty.

I am not sure whether this applicable in my case or not, since I am still waiting for my account activation and cheque was cleared 3 days back.

So please suggest if you feel if there is any RBI rule which can be applicable in my case.
 
You can ask fund credit date should show as cheque cleared date to branch.otherwise interest of same.
 
compensation depends on rbi based on your case. its upto them but you can ask upto 1L.

only solution in your case is through branch correct the activation issues and get it. no matter whether you raised issue through email, support it ultimately reaches to branch. so check with branch for activation related.
Bank will say internal policies and RBI will do nothing.
Don't worry you will get interest from date of debit of cheque
 
Regarding savings account
Hal Guys needed Help from Your Experience ,
Who have INDUSIND PIONEER ACCOUNT and still maintaining the same

RM and BM saying that since you dont have Initial Funding Issue OPEN THE PIONEER Account, more benefits than Exclusive and no NMC CHARGES, then I asked my doubts on him for which he replied all positively

1) Kindly tell me , You opened the indusind PIONEER account from branch or upgraded old account from branch
2) Of course I seen in SOC earlier It mentioned there is NO NMC charges on this account Like HDFC preferred ,imperia e.t.c
So From how many years you are using this account without NMC and without maintaining AQB as per Requirement mentioned in SOC
3) I dont maintain any balance Except FD that also max or below 5L (not sure about this ) when ever urgent may take OD or break or close the same.
SO in FUTURE DONT THEY DOWNGRADE THE ACCOUNT if we dont maintain the relationship

please share any other IMP points if I miss which are important based on your expereince

please share your views who already using this account without maintaining any MAB or QAB as per SOC
I opened it through dedicated pioneer branch.
Opened 6-8 months back, don't even maintain 1Lakh and No penalties.
 
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