May 15, 2017 03:51 PM
6416 Views
I am closing my account with Kotak Bank due to their aweful services.
I have deposited Rs 6500 for an ECS of 5940 on 15th of every month, The ECS still gets returned and the amount is freezed for an unknown fine that they incur which amounts to 12000/- . I have never been informed of such huge fine and they automatically freeze my balance. Last mnth there was no such fine. I am surprised to know that suddenly this month they have such huge fine imposed on my account and they don't care to inform me also.
This is non transparency with customer and customer's money is in huge risk as at any point of time they might not know when the bank imposes how much fine on there account without even informing them the reason.
I would never recommend to open an account with this bank as I am facing problem with my ECS every mnth. I am under impression that I have deposited the required amount which is sufficient for my ECS however still it gets returned for an unknown reason.