Sunday, January 25, 2009

[prpoint] Beware: Customer un-friendly ATM systems of Kotak Mahindra Bank and HDFC Bank

dear friends

I had circulated in prpoint and new media forum groups about the
horrible experience of one of our journalist friends while using ATM
card of Kotak Mahindra Bank in HDFC ATM Machine. I had also requested
Ms Usha Thorat, Deputy Governor of Reserve Bank of India to examine
the issue on a 'vigilance angle' as to why these banks are demanding
45 days for settling the claim. We had also cautioned that India does
not want to see another 'Satyam'. I am happy to inform you that she
has responded to our mail saying that she was looking into it and
would revert. (her mail given below)

We are confident that RBI would take this matter seriously and prevent
the Banks from harassing the innocent customers.

We have also already published her speech in audio in one of the
meetings organised by Indian Banks' Association and Consumers
Association of India. For the benefit of our members, I am again
giving the following link. Please listen to her presentation on the
role and responsibilities of Banks and the customers.

http://www.poduniversal.com/2008/10/rights-and-responsibilities-of-banks.html

I am endorsing the copies of this mail to Ms Usha Thorat, and to the
available email ids of Kotak Mahindra Bank and HDFC Bank.

Srinivasan
Moderator

---------- Forwarded message ----------
From: Thorat, Usha <ushathorat@rbi.org.in>
Date: Sun, Jan 25, 2009 at 4:21 PM
Subject: RE: Beware: Customer un-friendly ATM systems of Kotak
Mahindra Bank and HDFC Bank
To: Prime Point Srinivasan <prpoint@gmail.com>

am looking into it and will revert

________________________________________
From: Prime Point Srinivasan [prpoint@gmail.com]
Sent: Saturday, January 24, 2009 11:44 AM
To: Prpoint Group; New Media New Media Forum
Cc: Thorat, Usha; Kotak Mahendra; Kotak.Mahendra; Desikan (consumer
gorup); cust.serv@kotak.com; n.premanand@hdfcbank.com
Subject: Beware: Customer un-friendly ATM systems of Kotak Mahindra
Bank and HDFC Bank

dear friends

Yesterday, I wrote about the horrible experience of one of our
journalist friends with Kotal Mahindra Bank and HDFC ATM systems.
Today, i found one more similar complaint in MouthShut dot com in the
following link

http://www.mouthshut.com/review/Kotak_Mahindra_Bank-156571-1.html

The complainant says that when he had a similar expereince of ATM card
of Kotak Mahindra in HDFC ATM machines, the account was debited
without his getting cash. It took 50 days for Kotak Mahindra to
re-credit the amount.

It is surprising for me that how come similar complaints are seen
uniformly in all centres and Kotak officials say that it would take 45
days for settling the amount.

This raises an alarm bell. I think some where these two Banks must be
playing wrongly. I am endorsing a copy of this mail to Ms Usha
Thorat, Deputy Governor of Reserve Bank of India with a request that
the ATM system operations of both these banks may be investigated
thorougly in a 'vigilance' angle.

I am also endorsing this to Mr Desikan, Chairman, Consumer Associatio
of India for his knowledge.

If any of the Corporate communication Managers or PR Agencies or Media
persons in this group, know the top Management of both these banks,
kindly alert them. While I am able to get the RBI deputy Governor's
email id, I am not able to get the id of any top officials of these
banks. We cannot afford to have few more 'satyams'

Srinivasan
Prime Point
94440 50273

---------- Forwarded message ----------
From: Prime Point Srinivasan <prpoint@gmail.com>
Date: Fri, Jan 23, 2009 at 7:01 PM
Subject: Beware: Customer un-friendly ATM systems of Kotak Mahendra
Bank and HDFC Bank
To: New Media New Media Forum <new_media_forum@yahoogroups.com>,
Prpoint Group <prpoint@yahoogroups.com>
Cc: "RBI Dy. Governor Usha Thorat" <ushathorat@rbi.org.in>, Kotak
Mahendra <nodalofficer@kotak.com>, judy franko <judyfranko@gmail.com>

Private sector Banks promises sky. When a problem comes, they are
unable handle the issue smoothly.

A Chennai based journalist friend of mine Mr Judy (see his mail below)
gets the salary through Kotak Mahendra Bank. Kotak Mahendra Bank
permits their ATM card users to use other ATM Machines. He wanted to
withdraw money from his account on 9th Jan 2009 and went to HDFC ATM
machine. After inserting his ATM card, he wanted to withdraw
14,000/-. He got the slip debiting his account. But the cash did not
come out.

Immediatley, he lodged a complaint with Kotak Mahendra Bank, his
banker. They had told him that it would take 45 days.

When Judy telephoned to me this morning that even after 15 days, there
is no response from Kotak Mahendra Bank, I accompanied him to the Bank
to find out the problem. . The desk Manager is helpless. He could
not give any convincing answer. They lack experience.

Normally, as a matter of rules, all the Banks are required to display
a notice board prominently furnishing the names of senior officers
with whom, you can appeal for redressal of grievances. Since, I could
not see any notice board there prominenty, I asked the Officer to show
me the board.

The board at their T.Nagar Chennai branch was displayed 10 feet from
the ground, so that none could see the board. Also, the fonts were
very small, one cannot read that. Mr Judy climed up and got the phone
number of one Nodal Officer by name Milind Wagle (Mumbai) with his
mobile number 9819466365. We spoke to him over mobile to know why
there was a huge delay in settling the issue. He could not give
proper answer. He was only telling that Judy was using HDFC ATM
Machine, as if it was crime. We told him that only Kotak Mahendra
Bank had been promotimng that customers could use other ATMs also. He
was going on telling us "please understand our position". I was
surprised, why a customer with a genuine grievance should understand
their position, instea of the Bank understanding the problem of the
customers.

Normally, in any public sector banks, you can get the contact details
of even the highest official like Chairman. When we asked them, who
were the next higher authorities, they were unwilling to give any
contact details.

Though these banks like Kotak, HDFC and others promise sky and moon,
when the customer gets into difficulties, they are unable to handle
them well.

On enquiry with other Public Sector Banks, we learnt that they were
able to settle such claims within four or five days. Even if there is
some problem, a customer can go up to the Chairman level by getting
the details from the branch or from website.

Now, after the introduction of NEFT (National Electronic Funds
transfer) system by all the Indian Banks, one need not restrict to one
bank for salary purposes. Your account can be credited to any Bank
within India within few minutes.

I am endorsing a copy of this mail to Kotak Nodal Officer. If they
give any response, we will share in the group. I am endorsing copy
of this mail to Ms Usha Thorat, Deputy Governor of Reserve Bank of
India who is handling customer grievances for the entire country.
(Members may recall that we had even published her speech in our
podcast)

Please read the mail sent by Judy to me. (given below)

srinivasan
Prime Point
94440 50273

---------- Forwarded message ----------
From: judy franko <judyfranko@gmail.com>
Date: Fri, Jan 23, 2009 at 6:24 PM
Subject: Customer un-friendly Kotak mahendra Bank and HDFC Bank
To: Prime Point Srinivasan <prpoint@gmail.com>

The private sector banks often promises world class service and claims
to offer the fastest banking solutions.

I too believed in this theory until this incident happened to me
couple of weeks ago.
on january 9, 2008, I tried to withdraw Rs 1,40,00 from HDFC ATM on
the Anna Salai by
using my my Kotak Bank ATM card. Since Kotak has had given its
customers the luxury
of using the Kotak ATM card across the HDFC ATM centres with any
additional charge,
I approached the ATM to withdraw money but to my disapointment,

the ATM machine did not vent out cash. Though the transaction got processed,
and the money I wanted withdraw got debited from my balance, the ATM did not
vent out the money instead the money got credited in the bank. When I
apprached the bank saying that and narrated what happend, I was asked
to give them formal complaint in writing which I did and the service
manager at the T. Nagar branch of the bank said that that my case was
not the first one and they had at lease two similar cases in the
recent past and the HDFC bank usually take maximum of 45 days to
solve issues like that. I was wondering like why should 45 days?

Again I called the service manager after couple of days and he said
that the HDFC
would take would take 13 days to put the cash back to my account.
However, when me and
one of my friends approached the bank esquiring about the money and
when it would be credited, the response from both the service manager
and nodal officer, with whom I spoke over phone, was not positive.
It's sad that that private sector banks which promises a lot fail to
deliver in times of crises.

--

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