Worst Experience with Kotak Credit Card

[AsB]

Agreed, in my case HDFC i have had no issues so far, it has always been the case only with Kotak

Their systems are decade old. I think that RBI will soon impose a ban on them similar to HDFC

 

[Harry1]

I had one kotak811 account 6 years back. I wanted to get it closed, but they were not agreeing.

After 6 months, they started asking for full kyc, which I denied, as I wanted to close the account.

After 6 more months, I stopped getting any calls/messages and monthly statements. So, I assumed the account is now closed.

Now after 5 years, I applied for kotak Credit card and gave all documents. Now today I got a mail saying your mobile number is updated (my old number was changed by my current number) and last digits of crn mentioned was same as 811 account.

Is it possible that they reopened or never closed that account and now they completed kyc using credit card documents? How can I verify this? Also, how can I properly close it?

 

[zoro]

I had one kotak811 account 6 years back. I wanted to get it closed, but they were not agreeing.

After 6 months, they started asking for full kyc, which I denied, as I wanted to close the account.

After 6 more months, I stopped getting any calls/messages and monthly statements. So, I assumed the account is now closed.

Now after 5 years, I applied for kotak Credit card and gave all documents. Now today I got a mail saying your mobile number is updated (my old number was changed by my current number) and last digits of crn mentioned was same as 811 account.

Is it possible that they reopened or never closed that account and now they completed kyc using credit card documents? How can I verify this? Also, how can I properly close it?

So there are few things you need to keep in mind, every bank stores your details and account details separately, usually this would be referred as Customer ID and as far as i know this record will be kept as long as the bank exists.

You can create multiple accounts - savings, current, credit etc. but your CRN/Customer ID will remain same and will not change.

 

[zoro]

Their systems are decade old. I think that RBI will soon impose a ban on them similar to HDFC

RBI is only concerned to close or make life difficult for the new start ups who are trying to give good service to customers with new rules, for the decade old banks i don't think they will do anything against their favour.

 

[Harry1]

So there are few things you need to keep in mind, every bank stores your details and account details separately, usually this would be referred as Customer ID and as far as i know this record will be kept as long as the bank exists.

You can create multiple accounts - savings, current, credit etc. but your CRN/Customer ID will remain same and will not change.

Yeah, that seems right. I logged in to kotak app and don't see any account there. It was just blank earlier. Now they have added credit card.

 

[AsB]

RBI is only concerned to close or make life difficult for the new start ups who are trying to give good service to customers with new rules, for the decade old banks i don't think they will do anything against their favour.

Not the case at all. RBI had slapped penalty on banks like Axis Bank, for misconduct.
Talking about services from startups, no penalty or anything was ever issued to Onecard. RBI banned Hdfc bank for their service lapses.
If you are talking about the likes of Slice, Uni, Lazypay, etc. , then they were using a lot of unfair means. In addition, a Loan Account from them in your Cibil means, Cibil will be destroyed. RBI is not against any startup. They simply ensure that proper procedures are followed for safekeeping.