While opening saving account with sbi, they opened trading/demat account for my sister. She had only 3k for small savings now they are going to deduct 850 rs for opening charges. I am planning to suggest her withdraw 3k and leave the saving account as dormant. Any suggestions ?
Ticket raised already but I don’t think they close without deductions.
All bank accounts must be reported in ITR, otherwise they may poke you later.It’s always better to close the account which is not needed.
And by the way, what type of charge is this? I am pretty sure it can’t be opening charge. Small savings account is meant to waive off these charges. And I am not sure if they really charge opening fees.
I suspect since you have mentioned demat account, it might be AMC for that and you need to pay it or raise complaint
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Yea it’s a trading and demat account which we never asked to open. Now they are going to deduct opening charges.
Call them and ask them to close the account. If they do it then its fine. If not then you can complaint on SCORES portal. But when you complain they may ask you for proof that you have already raised a complaint and they refused. So better record calls. Link to scores portal is here
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Ty. Raised ticket for closing account. Waiting for response.
They could never open a demat account without say so because it requires a ton of signatures. Anyway if you haven’t asked to open the demat account speak directly with the manager, confront him to be precise that you would complaint to banking ombudsman regarding their shady practices. Strongly insist and the charges would be reverted back promptly and they would do the closure.
Also ask for receipt/mail for the closure of both trading and demat account since what they essentially do is freeze the demat account which poses problems later.
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