Today I am going to write about worst banks in India. I am listing 2 banks which are worst as per me, and you should always avoid transactions with these banks. The 2 banks that I will list are private banks and highly reputed but losing their reputation faster than ever.
Yes, Axis bank which had Deepika Padukone as its advertising face is worst bank that I have come across.
This bank has cheated me with more than Rs. 25,000.
Axis bank has worst online internet banking UI and if we ignore latest release of its website, the earlier website was a disaster to use.
Case 1: Axis bank charged Rs. 25,000 for not maintaining minimum balance
If you are thinking, it is not mistake of bank charging fee for not maintaining minimum balance then wait. My case is different.
I opened an account with Axis bank which was a ZERO balance account, that means in my current account, I could keep no balance and bank will not charge any fee.
There was no problem for first 3 years, everything was fine. I had good amount of transactions with bank.
However, one day suddenly I got a message from bank saying Rs. 750 has been charged for non-maintenance of minimum balance.
I was shocked, I ignored the message thinking it must be some mistake (I did mistake here).
I kept getting these messages every month. Finally I had a visit to bank and was informed that my account was converted from ZERO balance account and I had to keep a minimum balance of Rs. 25000.
I was shocked, how a bank can change rules without even informing its customers. I asked bank to show proofs that they have informed me through any communication channel.
Bank manager did not show any proof and insisted that I write a letter to bank for waving of charges. I wrote letter and nothing happened.
I stopped having transaction with Axis Bank.
But somehow few clients had Axis bank details with them and transferred money. In total I lost around Rs. 25,000 in bank charges.
Case 2: Lost of Demand Draft by Axis Bank
Case 2 is related with case 1 here.
Since I was worried that every time a client would transfer money to Axis bank, I will lose amount. I decided to close this account.
I had a balance of around Rs. 30,000.
I applied for closure and bank said, my account will be closed within 15 working days and I will received a demand draft of balance amount.
I waited for almost 20 days and did not receive my demand draft, received only few messages from bank about account closure.
Finally I visited bank, I was informed that my DD was couriered to my address. I asked for docket number, again bank staff was not able to provide me DD dispatch details.
So, I was asked to come back after 2 days.
I visited them again after 5 days. They had no clue where DD had gone. They had DD entry in register, which means DD was generated but after that they lost track.
I took the matter to higher authority and then bank manager gave me some stamp papers to sign, these were bonds. I signed them and after exactly 2 months from the date of account closure I received my money.
So, if you are planning to open an account with Axis bank, please do not do it. It is the worst bank of India.
HDFC bank is another bank with crooked staff.
This time again I was cheated but fortunatly I never deposited any money in bank account, so did not lose anything.
The case is similar to Axis Bank scam.
I was contacted by a HDFC Bank executive about a ZERO balance account (I love Zero balance accounts, In my profession almost all banks provide ZERO balance accounts).
I opened account with them.
However the very next month, I got a message for not keeping minimum balance in account.
Luckily I did not deposit any money and soon after that message, I contacted HDFC customer care with no useful response. Till date I am receiving message with charges. I cannot close this account since there is negative balance which I have to pay first.
I will advice you to never open an account with either Axis bank or HDFC bank. Both these banks are looting public on name of minimum balance, cash deposit charges and for each service they provide.