Kotak 811 Digital Account Debit Freeze

[beingmohit]

I deposited around INR 1.5l in my wife's Kotak 811 account. Today, we discovered that they randomly froze her account. As per the email communication, she has to visit her home branch to unfreeze the account. The problem is we are not in India currently and we won't be there in the foreseeable future. What are my options?

 

[akshayhs]

It is correct. You can deposit any amount you so desire.

You didn't get the joke in his comment.

 

[AritraSaha]

My Axis Bank account got a debit freeze once because I did a number of UPI transactions within a few minutes. But my relationship manager got it revoked within couple of hours.
Axis did it because system flagged the behavious as fraudulent.

In my hdfc account.. any transaction great then 10k getting blocked by bank for some stupid risk policy..
😑
Even self transfer getting blocked.

 

[Lobogris]

In my hdfc account.. any transaction great then 10k getting blocked by bank for some stupid risk policy..
😑
Even self transfer getting blocked.

Really? Did they give any reason? I make transfers of 20 plus lakhs several times a month form amd to HDFC and many other banks. Never any issues. There were times when several crores were kept and removed and they didn't say anything. Only ICICI called to ask questions.

 

[beingmohit]

Update ?

None yet. I will be visiting India in a couple of weeks with my wife. We will visit the bank and close our account.

 

[cardy]

Oh no. I opened a 811 account last week. I have transferred 5 lakhs there and was hoping to keep around 30 lakhs at least. Hopefully they won’t freeze it! Maybe I should go the branch and change the account variant. I have never heard of this issue with any other bank.

Sorry but I don't really understand why people open a zero balance account to deposit and keep thousands or lakhs or more (forget 5L / 30L). If one have several lakhs then why don't one consider opening priority or privileged or preferred banking options available in each and every bank?

 

[AritraSaha]

Sorry but I don't really understand why people open a zero balance account to deposit and keep thousands or lakhs or more (forget 5L / 30L). If one have several lakhs then why don't one consider opening priority or privileged or preferred banking options available in each and every bank?

Cus of stupid things called non maintenance charges

 

[ashwink]

Cus of stupid things called non maintenance charges

Sahi pakde hai 😂

 

[Lobogris]

Sorry but I don't really understand why people open a zero balance account to deposit and keep thousands or lakhs or more (forget 5L / 30L). If one have several lakhs then why don't one consider opening priority or privileged or preferred banking options available in each and every bank?

Why? It was quick and easy to open online and it offered 7% interest. Kotak didn’t say anywhere that there was a maximum deposit limit restriction on it. So I don’t see any issue in keeping any amount I want there. If I want to keep 10 crores or 100 crores, it is my absolute right. I have explored their Privy League options but they provide no specific benefits and a minimum 3 lakhs of your money is kept in savings before Activ Money at 7% kicks in. In 811 account, only 25k is kept in savings before Activ Money kicks in. So I would be losing around 12k per year just to have this higher tier account. Therefore I will use the 811 account and keep whatever amount I so desire. There is no concern or worry about them freezing it as all transactions are completely legal.
I have plenty of top tier accounts with other banks and will change only if I see any specific value in it. If Kotak wanted to keep deposits in 811 limited to 1 lakh or 50k maximum then they could have stated that.

 

[jetesh]

This may b a case : Customer can transfer a maximum amount of 1,00,000 through online transfers. Customer won't be allowed to transfer funds through branch before the account is converted to Full KYC account. No cheque book will be issued.

 

[AritraSaha]

This may b a case : Customer can transfer a maximum amount of 1,00,000 through online transfers. Customer won't be allowed to transfer funds through branch before the account is converted to Full KYC account. No cheque book will be issued.

We are talking about full kyc account..

 

[jetesh]

We are talking about full kyc account..

OHK .. ..

 

[AritraSaha]

Really? Did they give any reason? I make transfers of 20 plus lakhs several times a month form amd to HDFC and many other banks. Never any issues. There were times when several crores were kept and removed and they didn't say anything. Only ICICI called to ask questions.

They are stating some bank risk policy..
I am using upi transfer from paytm..

 

[nikhil01]

Hello Everyone
I am Facing this problem of Debit Freeze in my KOTAK 811 FULL KYC Account.
Bank has automatically with this message

“ We wish to inform you that the status of your account XXXX8955 has been changed from No Freeze to Debit Freeze on 26-07-2023 for TXN PATTERN MISMATCH VIS-A-VIS DECLARED PROFILE. For any assistance please contact your Home Branch.”

At first I contacted customer care , they said just go to the branch with aadhar card,pancard,photo, and income proof and then i said i dont have any income proof of such kind. He then replied your bank statement can act as a income proof and the branch people will provide you with that from their system.

I went to the branch , instead of asking my kyc they asking about where does this money come from i gave the answer. Then he said i am giving request ahead for removal of debit freeze . During that time he asked several non sense illogical questions which i wanted to through here , he continued on asking what do you do i said nothing then where does this money come from then i said farming , then he said i dont think so, but my question is why does a branch person doing scrutiny of my transaction does he have a right to do so. The account was freezed on 26th or jul today its more than 15 days no debit freeze was removed.

I request help from community members who knows something how to deal with this situation in which i am mostly right and branch people are not working in my favour.

How much time will it take for debit freeze removal ?

 

[Naman@Jain]

How much time will it take for debit freeze removal ?

Call to the nodal department and write a mail also to them explaining the situation.
In my case branch people were pathetic and adament about closing it but here i am today using that account normally without any problem.
I suggest you to first contact branch manager he will take the request to remove debit freeze and if he ask for rekyc please do and if he says you upgrade your account to minimum balance of 10000 or any other or tries to sell any insurance to product to you please just go to the nodal department of kotak they will sort the issue out.
Thank you

 

[Cosmicgaze]

I have a 811 full kyc account. Made it mostly for upi transactions and zero balance. Have an hdfc savings max preferred where i do keep most of my funds.
Had transacted to the Kotak account a decent amount and made some fds.
One evening I was signing up upi on Amazon pay and once done I kept the phone aside and had dinner came back to phone there was three consecutive missed calls and sms and email that my net banking and transactions have been blocked.
And the worst thing is 811 customer care isn’t 24x7 visited branch next day an employee said only the customer care could help unblocking account quickly, through them it would take some time and documents etc. the employee did try to pitch me to higher variant savings account. Did not find something to offer me to make me want to change, I asked them is there limit to 811 account they said withdrawal amount, rtgs neft transfer amounts have some limits. Other than there was no limit to how much I can save in the account and I would benefit with the other offerings. But they did say most with 811 accounts barely save funds on it. And again told me how would I benefit changing my account.
told will think over it.
Called customer care they transferred me to fraud prevention, asked me some identification questions and unblocked the account in 2 hrs.

Have a Paytm payments account too, had made it when I was just starting up, think my profile listed income below 5l or somewhere less and last year I received funds more than the value I had declared previously. Accessing the account showed me the update kyc profile page and I updated it and could use the account again.

 

[sandeepB]

I had the same issue, branch visit solved it. Gave the statements as proof of funds, and debit freeze was removed. Please update the salary you earn in your Kotak Profile, else it'll cause this issue even if there's just 1L/1.5L transaction.
Freeze was on 31st, went to branch on 2nd Nov, it got removed just now on 3rd Nov.

My account is debit freezed, I got a mail like this
"Dear (my name),

We wish to inform you that the status of your account XXXX2857 has been changed from No Freeze to Debit Freeze on 23-01-2024 for TXN PATTERN MISMATCH VIS-A-VIS DECLARED PROFILE. For any assistance please contact your Home Branch. "

I'm very much tensed because there are 1.3 lakh funds in it and also there aren't mine, my friend did the transaction as his is not working for some purchase.
Please help to resolve this

 

[seekndestroy99]

My account is debit freezed, I got a mail like this
"Dear (my name),

We wish to inform you that the status of your account XXXX2857 has been changed from No Freeze to Debit Freeze on 23-01-2024 for TXN PATTERN MISMATCH VIS-A-VIS DECLARED PROFILE. For any assistance please contact your Home Branch. "

I'm very much tensed because there are 1.3 lakh funds in it and also there aren't mine, my friend did the transaction as his is not working for some purchase.
Please help to resolve this

Go to the branch nearest you, I did the same, was removed in a couple of days, they'll ask for proof

 

[Lobogris]

Haven't understood why this is happening to people. I opend an 811 account in Oct last year (2023) and did video KYC. Have kept around 20 to 30 lakhs there without any issues. Recently git it upgraded to Privvy League.

 

[WinSuperb7251]

Haven't understood why this is happening to people. I opend an 811 account in Oct last year (2023) and did video KYC. Have kept around 20 to 30 lakhs there without any issues. Recently git it upgraded to Privvy League.

They should have entered very low annual income while opening the account.

 

[cardy]

They should have entered very low annual income while opening the account.

True
if you give declaration of income upto 5 lakh and do transaction of 50Lakh 20L 30L then it may be problematic it seems...