ghost of sparta
TF Select
I have an indusind exclusive account from a couple of months. Out of no where, the day before yesterday, I got an message saying the my account is blocked and I should go the bank with my kyc details.
I was shocked and called my relationship manager. Him being an lazy ass, only picked up the call on fourth attempt. I asked the reason for abrupt freezing of my account. He is unable to provide an answer but he said he'll send an verification agent. Yesterday, the verification agent came and collected my document. I called my relationship manager again asked when can I expect my account to unfreeze. He said it'll probably take 1 week because the bank manager has to send an email to zonal head for approval to unfreeze.
WTF is this?
1) They have no reason to block my account. I only do atmost 5 transactions per month and did no fraudluent transactions or money rotation. I already submitted all the requested kyc docs at the time of account opening. Why are they asking for them again after only 6months?
2) Even if they want to block my account, they should notify me first before doing so.
3) I have explained to my RM that I have more than 50k parked in that account and I need that money urgently to pay credit card bill. But he has no sense of urgency, he is saying that it'll take a week atleast to unfreeze my account.
This is illegal right? How can they deprive me of my own money without any valid reason?. I searched around and found this article which says,
In light of a ruling by the Gujarat High Court, banks are prohibited from freezing customers’ accounts for KYC details without prior notification to the customer. This judgment safeguards consumers from harassment due to repeated demands for KYC compliance.
Read more at:
http://timesofindia.indiatimes.com/...ofinterest&utm_medium=text&utm_campaign=cppst
Based on my previous experience of late responses, I don't think it will be of any use even if I email customer care or pno. Can I open an RBI Ombudsman complaint?
I was shocked and called my relationship manager. Him being an lazy ass, only picked up the call on fourth attempt. I asked the reason for abrupt freezing of my account. He is unable to provide an answer but he said he'll send an verification agent. Yesterday, the verification agent came and collected my document. I called my relationship manager again asked when can I expect my account to unfreeze. He said it'll probably take 1 week because the bank manager has to send an email to zonal head for approval to unfreeze.
WTF is this?
1) They have no reason to block my account. I only do atmost 5 transactions per month and did no fraudluent transactions or money rotation. I already submitted all the requested kyc docs at the time of account opening. Why are they asking for them again after only 6months?
2) Even if they want to block my account, they should notify me first before doing so.
3) I have explained to my RM that I have more than 50k parked in that account and I need that money urgently to pay credit card bill. But he has no sense of urgency, he is saying that it'll take a week atleast to unfreeze my account.
This is illegal right? How can they deprive me of my own money without any valid reason?. I searched around and found this article which says,
In light of a ruling by the Gujarat High Court, banks are prohibited from freezing customers’ accounts for KYC details without prior notification to the customer. This judgment safeguards consumers from harassment due to repeated demands for KYC compliance.
Read more at:
http://timesofindia.indiatimes.com/...ofinterest&utm_medium=text&utm_campaign=cppst
Based on my previous experience of late responses, I don't think it will be of any use even if I email customer care or pno. Can I open an RBI Ombudsman complaint?
