Apr 07, 2009 04:41 PM
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3 years back, I decided to open a PPF a/c for myself - options like post office & banks like SBI were there. Freezed on SBI, Amman Sannathi Branch, Madurai, Tamilnadu - since my close relatives were out of that place & I would be visiting there atleast once in 2 months.
Went & met the branch manager. He said savings a/c is required to be opened with a PPF A/c, since settlement at maturity would be easier. Took his suggestion, and got both the application forms, filled them & submitted. I requested him for internet banking, which they said was not currently available for that branch, but will come soon.
Then, I asked them for Standing Instruction to be given for Rs.5000/- p.m from my SB A/c to PPF A/c, which again they said was not possible for the first 6 months. Disappointed, still I opened both the a/cs, hoping I will get all these in place in another 6 months. I was asked to deposit Rs.1000/- for the new SB A/c & was told that was the minimum balance to be maintained. I also requested for a cheque book, which was given by the officer, only after the approval of the branch manager.
Having opened both a/cs, I left the city; and came back after 3 months. I updated my passbook, and to my shock, the balance was only Rs.699/-. I had initally deposited Rs.1000/- in the a/c. Then, I looked at the transactions. They had charged Rs.15/- for the cheque book, which was not told to me earlier. Then, interest of Rs.14/- had been credited. So that made it Rs.999/-; and at the end of the quarter, since minimum balance of Rs.1000/- had not been maintained, I had been charged a penalty of Rs.300/-, and balance had become Rs.699/-.
I became furious, and told the officer that had they informed me about the charges for the cheque book, I would have deposited another Rs.100/- into the a/c initially; and hence requested to refund the penalty of Rs.300/-; he did not even bother to listen, and told it was impossible. Then, I went to the branch manager & showed him the pass book & requested for refund; he saw the history & immediately took a voucher & filled it up and said by tomorrow it would be refunded. Then, I left.
But even after a month had passed I found through the ATM, that the refund had not been credited to my a/c; then I had to write to the branch manager the enitre history again; after which refund was given.
After all this drama, a year passed by. Then, I went to the branch again to ask for the standing instruction facility, which was promised to me initially after 6 months. But, there was another officer now & he said it was not possible to give standing instruction, due to system constraints. Then, I had to go to the branch manager again(a new person had taken charge), and then he took the request & asked the officer to do it. I also filled up internet banking registration form & my address change request to the officer.
2 months passed, and all the 3 requests were still not considered. Then, I wrote again to the branch manager, and finally managed to get my standing instruction activiated from July 2008. But I am still waiting for other 2 requests - address change & internet banking registration to be addressed!
With all the new private banks & foreign banks providing so much improved service, wonder when is our largest bank - SBI - going to wake up!
