- This topic has 32 replies, 20 voices, and was last updated 1 year, 5 months ago by
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UI just came to know about 4 FDs done by bank on my mother’s account worth 17 lakh within 1 year . And not even my mother knows about it , she told me that calls were there asking to do FD but she flat out rejected them saying she don’t want to do them .. that account is rarely used have only 3 transaction in last year that too done by me ..
I want to know how do I approach this fraud done by bank ?
I am going to the branch office Tommorow to get the details and proofs about this -
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UOmbudsman usually requires you to first file a complaint with the concerned financial institution before approaching RBI.
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Iis it a private bank? i also received lot of phone to get FD made. maybe it is their targets.
but they should been clear about it.
what problem one can have with creating FD though, keeping 17L in 3.5% paying account is not a good thing to do though.
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UNot stolen but that money is converted to FDs without permission and that itself counts as fraud and the account is used for emergency purposes only .
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BWhat’s the amount of FD?
is it propped FD or sweep in FD?
Bank keeps track.
First you need to submit written complaint to bank manager and take acknowledgement. Also ask for complaint register. Write down complaint. They may refuse to handover complaint register but be persistent.
After 30 days, send email to RBI ombudsman
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UThere are 4 FDs different amounts each 3 months and this was done previously too with 2 FD worth 6 lakh ..
Don’t know much about if it’s propped or sweep . Just got to know details by toll free number as their app is not working.
M going to bank tomorrow n get things straight. I will make sure to teach them a lesson for sure -
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UI don’t know how it’s a favour but it’s for emergency purposes only and if I wanted interest I’d rather go with mutual funds or stocks.
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SOP, everyone here trying to ask you two simple things which you are unable to reply to and other than that you are ranting about a lot of things.
1. Which bank it is?
2. If it’s auto sweep FD or conventional FD??-
UNot sure about the type of FD as it was created without permission and I wanted to know my options before I go to the bank tomorrow and rent about something I don’t know about .. Anyways the name is Bandhan Bank and I heard enough about the bank so I’m gonna transfer the amount asap
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UDepends on the kind of FD.
If it is an FD that automatically breaks if you withdraw cash, it is just like cash in savings but earns a larger interest if you don’t withdraw. e.g. My bank (ICICI) does this, creates FDs that give a higher rate of interest, but if I withdraw more cash, they are broken and I lose the additional interest.
I can ask them to not create auto-FD sweep (have done it before).
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USame happened with my boyfriend’s mom. It was Axis bank. They said it was done using net banking. His mom is not that tech savvy and uses phone just to call. We complaint the same to the bank and they said it was done by us only. Amount was almost same and 2 FDs were made from different accounts. When probed when was netbanking they told us in July for both the accounts, in which one was opened by July which didn’t make sense. We cancelled the FDs within first 7 days else to break the FDs one has to pay the charges. Mail to the bank and change the passwords.
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UUpdate :
Had a long conversation with the bank manager most of the time he was apologizing for the issue but I raised the complaint to the nodal officer of the bank as I was not satisfied with the answers .
FDs were broken and the amount was back in with the interest . The guy who did FD is not working in the bank as he switched to another bank
Going to transfer the amount to govt bank probably SBI. As soon the account document reaches me
Thank you guys for your suggestions
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