Bank of Baroda is very Stubborn for waiving off Minimum balance charges.

[mnn]

Despite multiple complaint to branch and nodal officers no one want to waive off minimum balance charges.
RBI ombudsman portal also not replying from many days.

I have 3500 negative balance in my bob account
700 rupees are Debit Card charges other are non maintenance charges, I am ready to pay debit card and sms alerts etc charges but I want to waive off other charges.
( I want to use the account )
Everyone says that Bank can't charge beyond the balance .... and I wanted to test how thses things works or not but in my scenario 😅 I think I have to pay full of 3500 to bank for my mistakes.

I welcome your suggestion should I pay full charges and start to use account
Or more efforts to be taken..

Thanks in advance

 

[praful1947]

Despite multiple complaint to branch and nodal officers no one want to waive off minimum balance charges.
RBI ombudsman portal also not replying from many days.

I have 3500 negative balance in my bob account
700 rupees are Debit Card charges other are non maintenance charges, I am ready to pay debit card and sms alerts etc charges but I want to waive off other charges.
( I want to use the account )
Everyone says that Bank can't charge beyond the balance .... and I wanted to test how thses things works or not but in my scenario 😅 I think I have to pay full of 3500 to bank for my mistakes.

I welcome your suggestion should I pay full charges and start to use account
Or more efforts to be taken..

Thanks in advance

Debit card and sms charges you are bound to pay but for AMB it can be waived off .

You have to keep fighting with them for this .

 

[mnn]

Debit card and sms charges you are bound to pay but for AMB it can be waived off .

You have to keep fighting with them for this .

Bro I am ready to pay every charges other than minimum balance.

 

[praful1947]

Bro I am ready to pay every charges other than minimum balance.

Keep fighting ...

 

[Dr.AMAN]

SBI did the same thing when they waived the mab charges in 2020. Those who had negative balances prior to that, their accounts still reflected negative balance after MAB was changed to zero. Infact when some of them added some funds, it was adjusted against that negative balance. So yes when Govt's own beloved bank SBI didnt stick to RBI's directive against negative balance thing, we cannot hope much from BOB. If u really want BOB account then it would be easier to just pay the negative balance than to keep fighting. Or else u can just move on from BOB and go to another PSU bank.

 

[mnn]

Still no reply from Bank of Baroda and Even from RBI ombudsman

 

[Dr.AMAN]

Still no reply from Bank of Baroda and Even from RBI ombudsman

This RBI's directive of not making balance negative is one of the most useless rules set by RBI. Non of the bank seriously followed it and each bank took their own interpretation of that rule. Dont break ur head and mental peace. BOB is still one of the best psu banks. Just pay the old negative dues and use the account as zero mab.

 

[Ram1]

Why not close this account and open new account in different branch?

 

[Dr.AMAN]

Why not close this account and open new account in different branch?

The bank guys wont let u close the account until the dues r paid.

 

[Ram1]

The bank guys wont let u close the account until the dues r paid.

He's facing problem because he wants to use the account.
If he decides to close his account, as per rbi guidelines bank has to close this account without clearing negative balance.
I did personally with axis.

 

[Dr.AMAN]

He's facing problem because he wants to use the account.
If he decides to close his account, as per rbi guidelines bank has to close this account without clearing negative balance.
I did personally with axis.

Yes but the bank will most likely create issues and wont close the account easily. One of my relatives had to pay Rs 20k negative dues while closing ICICI bank account which they had opened and forgotten about. Pvt banks r still better. PSUs r horrible in this matter.

 

[Ram1]

Yes but the bank will most likely create issues and wont close the account easily. One of my relatives had to pay Rs 20k negative dues while closing ICICI bank account which they had opened and forgotten about.

Not a big issue man, just one rbi complaint enough to close that account.
Its complicated if he wants to use account.

As per rbi guidelines, no bank can put balance below 0, i.e negative.
Its physically shows 0, but they are ready to deduct whenever he deposits money.

If he wants to continue further , bank wull deduct charges.
If he wants to close account, balance is already 0, bank can close his account.

He can happily open new account for his peace of mind.

 

[Dr.AMAN]

Not a big issue man, just one rbi complaint enough to close that account.
Its complicated if he wants to use account.

As per rbi guidelines, no bank can put balance below 0, i.e negative.
Its physically shows 0, but they are ready to deduct whenever he deposits money.

If he wants to continue further , bank wull deduct charges.
If he wants to close account, balance is already 0, bank can close his account.

He can happily open new account for his peace of mind.

What u r saying is true. But as I said earlier this particular rule of RBI has been the most abused rule by banks. Almost all psu banks put negative balance even though RBI says otherwise. Have seen personal cases of friends/relatives in sbi, bob and indian bank. If we request closure they will tell excuses like their core system doesnt allow account closure with negative balance. OP's RBI complaint is already pending without much resolution. Now he can either simply pay the 3k dues and solve the matter or complicate the matter further by doing a second rbi complaint. It may involve unnecessary physical visits to the branch and waste of time. Most works in PSUs r super slow and frustrating.

 

[Ram1]

What u r saying is true. But as I said earlier this particular rule of RBI has been the most abused rule by banks. Almost all psu banks put negative balance even though RBI says otherwise. Have seen personal cases of friends/relatives in sbi, bob and indian bank. If they request closure they will tell excuses like their core system doesnt allow account closure with negative balance. OP's RBI complaint is already pending without much resolution. Now he can either simply pay the 3k dues and solve the matter or complicate the matter further by doing a second rbi complaint. It may involve unnecessary physical visits to the branch and waste of time. Most works in PSUs r super slow and frustrating.

Mm anyhow its upto him to decide, least we can give are the suggestions.

My suggestion would be to close this account and open new or keep this and open 2nd account