[Resolved]  HSBC NRI Banking — Asking to maintain 75000 as a balance

Address:

Mumbai Suburban, Maharashtra

I opened an account with HSBC NRI banking. At that time I supposed to maintain balance of Rs 25000.00. After using this account only for 2 months I received following letter from bank asking me to maintain 75000 in my account. This is much more higher. This would be difficult for me to maintain. They should have informed me when I was opening the account. Now after opening account I want to close this account but I cant do it immediately as I want to use NRE account. I really don't know how this HSBC bank works. They call themselves as worlds local bank but ultimately ask account holders to maintain thrice the amount. I don't know how they can do it legally. Given below is mail sent by HSBC bank.

I hope there would be someone reading this and do something to stop such banks doing something like this.




Dear Customer,


We would like to inform you that the HSBC India NRI Savings / Current Account eligibility criterion is being revised with effect from 1 July 2011.
To continue availing of the privileges and services as an existing NRI Savings / Current account customer of HSBC India, an Average Monthly Balance (AMB) of 75,000 (Rupees Seventy Five Thousand only) is now required to be maintained. For more details on the revised eligibility criteria, please visit our website hsbc.co.in.
Non-maintenance of the above mentioned criterion would entail a monthly service charge of 350 + applicable taxes. Please visit our website hsbc.co.in to know more about ‘Account Rules’, ‘Features and Benefits’ and ‘Tariff Schedule’ applicable to HSBC India Savings / Current Accounts.
Please contact our NRI PhoneBanking numbers listed overleaf if you require any further clarifications.
We thank you for your continued patronage and assure you of our best services always.
Yours sincerely,

Sanjay Nair
Head Customer Propositions,
Retail Banking and Wealth Management