Unauthorised debit by Axis Bank and refusal to reply!

Axis Bank is a direct subsidiary of Reserve Bank and first private Bank in public sector. Well that is the dichotomy. It is therefore supposed to be fairer than private players but it appears, it is not.

A Bank account is like trust account. Banker is the trustee of customer’s money in the account. Axis Bank has been my Bank of choice for past decade. Recent tryst with Kotak Bank reaffirmed that choice. However of late Axis Bank is becoming the corporate monster that are many busy in stealing small funds from millions thereby making millions.

Charging for NEFT transaction:

NEFT is an acronym for National Electronic Funds Transfer (NEFT) which is an Indian system of electronic transfer of money from one bank or bank branch to another. As per my knowledge transfer of 2 lacs or two hundred thousand is made without any charges. However my account was debited with a miniscule amount towards NEFT charges, recently which surprised me. Hence I tweeted about it and as advised by Axis Bank’s twitter handler, I sent an email to Axis Bank.

My email to Axis Bank:

Dear Sir

I have two issues:

1. The NEFT transactions are being delayed too much. I transferred Rs.899/- *** on xx Oct. 2015 but it has not been credited in beneficiary account till date. The beneficiary is my credit card account with *** Bank.

2. Neft has no fee. Some times in the past I have found small amounts of Rupee or two and odd being debited in my account as NEFT charges. Why?

Kindly revert ASAP.

Regards

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