Exploiting Trapped Customers. Review on Kotak Securities

I hold a trading a/c with Kotak Securities for approx 3 months. Ever since I got the security token to log in I used to have trouble. I had to call up customer care and sync up the token and log in every time.(My mistake for bearing with this).

One fine day, the customer service person told it cannot be synchronized up and will have to be replaced and I have to bring the service token to the bank and 600 Rs. will be deducted from my a/c. It was so irritating for me on hearing this since for no fault of mine I had to pay something and run behind them for repaying that.

The representative had no answer for me when I told I didn't ask for a new token and because of their messed up application/system that I am made to pay this.

But they were not ready to listen to me that this was their fault. I have initiated the a/c closure.

Till then, I was thinking that Kotak Mahindra bank was providing very good services and this thing came up and I am totally irritated and am convinced that this is just another bank looking forward to bill some money when a customer falls into the traps. Reminds me the days when the representative was running behind me to get the applications done and for proof docs. Now when I have a problem I have to run behind them and pay them(For their fault) . But after all I have learnt that is just another bank trying to fleece you when you are trapped.Plan to close both my salary a/c(which I was satisfied with) and my trading a/c.

Added after submission: Just learnt that some team from Kotak might see my review. For their Ref . My client id is JYJH0.