Whats the RBI rule on account closure?

[blacktiger]

Whats the RBI rule for bank account closure? is there any days limit specified within which they should close? I visited indusind branch and gave a closure request but they havent closed my account yet. a week has passed. They are saying they are facing technical glitch in account closure.

 

[Anupama_Jha]

Whats the RBI rule for bank account closure? is there any days limit specified within which they should close? I visited indusind branch and gave a closure request but they havent closed my account yet. a week has passed. They are saying they are facing technical glitch in account closure.

Dormat/Inactive accounts having 0 balance and no trxn in past 36 months gets closed automatically.

Rest about manual closure, escalate ur issue to higher officials in respective bank. Follow grievance system, once over and not resolved.

Then raise issue to RBI OMBUDSMAN asking compensation.

 

[blacktiger]

Dormat/Inactive accounts having 0 balance and no trxn in past 36 months gets closed automatically.

Rest about manual closure, escalate ur issue to higher officials in respective bank. Follow grievance system, once over and not resolved.

Then raise issue to RBI OMBUDSMAN asking compensation.

i have to wait for 3 more weeks to raise issue to ombudsman. the problem is the issue started when i tried to close the fd and it was giving some error. i went to the branch they are saying technical glitch and not giving any ETA when itll get solved. so i gave them both the fd and account closure form at once. now im in urgent need of that money and they are not providing any proper replies.

 

[Deleted member 30446]

Dormat/Inactive accounts having 0 balance and no trxn in past 36 months gets closed automatically.

Does this still work if debit card is not blocked? And do non MAB charges levied by the bank count as transaction?

 

[Anupama_Jha]

i have to wait for 3 more weeks to raise issue to ombudsman. the problem is the issue started when i tried to close the fd and it was giving some error. i went to the branch they are saying technical glitch and not giving any ETA when itll get solved. so i gave them both the fd and account closure form at once. now im in urgent need of that money and they are not providing any proper replies.

Have u raised it to nodal officer ?

It's not mandatory to pass 30 days for complaint to RBI OMBUDSMAN, u can do once u have followed banks grievances system. I.e.
Branch Level/State level/Country level

 

[Anupama_Jha]

Does this still work if debit card is not blocked? And do non MAB charges levied by the bank count as transaction?

Don't know 😶

I keep all my accounts active.

 

[Deleted member 30446]

Don't know 😶

I keep all my accounts active.

How many accounts do you have?

 

[Aniket]

Whats the RBI rule for bank account closure? is there any days limit specified within which they should close?

I am not aware the days about savings account.

I visited indusind branch and gave a closure request but they havent closed my account yet. a week has passed.

One week has passed already? 7 business days have completed?

They are saying they are facing technical glitch in account closure.

Kindly lodge your complaint, ask them what particular technical glitches they are facing. Ask them documentary evidence to believe particular technical glitches from back-end team.

Also, that glitch is only for your account or for others also.

They may give force majeure as an excuse, but when reasonable time period will be passed let say 7 business days or 10 and you still get unsatisfactory replies from the bank, with no proper resolution.

You can lodge your complaint with RBI BO, immediately citing deficiency in service attach your acknowledgement and email conversation as documentary proof and you believe bank is willingly not closing your account though you're dare need of money of FD and all, you have had complied account closure process by visiting branch and signing account closure form and all.

 

[blacktiger]

Have u raised it to nodal officer ?

It's not mandatory to pass 30 days for complaint to RBI OMBUDSMAN, u can do once u have followed banks grievances system. I.e.
Branch Level/State level/Country level

i sent email to nodal today waiting for reply.

 

[Aniket]

Does this still work if debit card is not blocked?

Yes unless there's no txns carried out.

And do non MAB charges levied by the bank count as transaction?

When the account will become dormant or inoperative after 2 years, nothing can be charged thereof.

 

[blacktiger]

I am not aware the days about savings account.

One week has passed already? 7 business days have completed?

Kindly lodge your complaint, ask them what particular technical glitches they are facing. Ask them documentary evidence to believe particular technical glitches from back-end team.

Also, that glitch is only for your account or for others also.

They may give force majeure as an excuse, but when reasonable time period will be passed let say 7 business days or 10 and you still get unsatisfactory replies from the bank, with no proper resolution.

You can lodge your complaint with RBI BO, immediately citing deficiency in service attach your acknowledgement and email conversation as documentary proof and you believe bank is willingly not closing your account though you're dare need of money of FD and all, you have had complied account closure process by visiting branch and signing account closure form and all.

last friday i gave closure request. so today is 6th day. they are not giving any details about technical glitch, saying they forwarded to technical team and they are checking it.

 

[Aniket]

last friday i gave closure request. so today is 6th day. they are not giving any details about technical glitch, saying they forwarded to technical team and they are checking it.

Ask by when your concern will be resolved. And inform that you're need of money, if they give such excuses again and again, you will lodge complaint to BO.

It would be better to raise your concern with Nodal Officer or any other higher officer (Country/Regional Head or so) or his desk now instead L1 officer. Contact through phone call if you're not receiving reply through e-mail.