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ICICI Bank - Minimum Account Balance Charges

 
22 Reviews
User
  arcadiansmokerz on Sep 8, 2012
I have been a customer of ICICI Bank for the last 3 years and have been maintaining a good balance in my savings bank account. During the month of April, my account had 10 times more balance than required in my account. However, I see in my statement that the bank has charged me a minimum account balance charge of Rs. 350+taxes. I do not expect this from a bank of as good standing as ICICI. This is not the first time it's happening with me and I strongly encourage the bank to strengthen their controls in this aspect, in addition to refunding the charge back to my account. Should you have any questions or need to discuss this further, you can mail me on arcadiansmokerz@gmail.com

Transaction Details:
Date: September 5, 2012
Description: "MABChgs-Apr12+ServTax 43.26"
Amount of Transaction: Rs. 393.26

In addition to this, I also would like to share about how erroneously the bank's controls are working. I tried to place a request online about this transaction on September 8, 2012 and the webpage pops up a message requesting me to place the request after 2 days from the date of transaction. I really do understand how to calculate a period of two days. Either my basic math fails or ICICI's webpages are annoyingly smart. Kindly have a look at the snapshot attached herein.

Response awaited.

Regards,
Ankit Jain
Contact No. +91 9014199464

Minimum Account Balance Charges

Complaint comments 21 Comments     Updated:
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Comments

N
User
hydcitizens ICICI Bank  - India
 

Minimum charges - ICICI Bank

For not maintaining minmum balance of rupees 5000/-ICICI Bank charges about 3500/- PA how RBI alow this. In any saving bank how debit balance is alowed and if u calulate the interest on 5000/- it will be about 65% how RBI allow the bank to cheat the customers
N
User
raj kumar ICICI Account  - India
 

too much service tax - ICICI Account

i am account holder of icici bank, the bank putting so many service charges, i want to cancel my account
N
User
Karthic ICICI Bank  - India
 

too much charges - ICICI Bank

I have an Saving account with icici bank, i have requested a cheque book and got it ( 1 book per quater is free but i bought 1 book for the entire year). they had debited Rs 449 from that account as cheque book charges. is any one heared of cheque book charges this much any where in india ?. It is not safe to keep money in icici bank.
A
User
vishnu swarup ICICI Bank  - India
 
I am 83 years old senior citizen .I had over Rs.65 lacs in FDs with ICICI Bank . One person called Ravi from the Bank's Kalkaji N.Delhi branch visited me in July 08 on his own and collected all my FDRs on the assurance that he would get them pre-renewed to give higher interest rate . Instead he prepaid all of them and the amount is lying in my SB account at 3.5% instead of over 10% which I was already getting subjecting me to forced loss of interest . Not only that I was charged penalty for prepayment and the interest was paid at a rate much below the contracted rate . My several visits to the Branch Head and his assurances to renew them with retrospective effect have yielded no result and I continue to loose interest .
N
User
sachin ICICI Bank  - India
 
change of address
 
Hi Ankit,

We have made a note of your contact details. Our official will get back to you soon to assist you.

Regards,
ICICI Bank Customer Service Team
A Sep 14, 2012 by
User
rsiva512  
 
I was surprised to note that MAB charges of Rs.393.36 is debited today for MABChg-Jun12. For the past 11 years, I am having this SB account with good transactions for home loan, rent receipts, FD & bill payments.

In the past, I was always maintaining more than the minimum balance. In future I will maintain the required balance. As this is the first case and I am privileged customer, request you to refund to the amount Rs.393.36. If not refunded, I will be closing the account in the next week. Hope to get positive response from you.

R.Sivakumar
9841818935
A Sep 15, 2012 by
User
Govindarajulu3  
 
Hi,
I am facing the same problems with my account. These guys deducted this month in my account as Rs.280.90 (MAB Chrgs). Since past 2yrs i am using this account. And this is my salary account. According to norms this is a zero balance account. How these guys are deducted in my account.

I am frustrated very much due to irrelevant charges. Please don't repeat this.

Thanks,
C. Govindarajulu.
A Sep 29, 2012 by
User
banakarpooja  
 
Hi,
I am facing the same problems with my account. These guys deducted this month in my account as Rs.393.26 (MAB Chrgs). I have 2 accounts and surely have maintained sufficient amount. And this is my savings account with some policy for women who do not need to maintain that min balance. How these guys are deducted in my account.

I am frustrated very much due to irrelevant charges. Please don't repeat this.

Thanks,
pooja
A Oct 3, 2012 by
User
mriras  
 
I am also facing the same problem. At the time of opening account they said if you make the recurring deposit account then no minimum balance is required in the parent account. Still they have deducted the money. Which is very frustrating and embarrassing. Below are the deduction amount.

3 05/09/2012 MABChgs-Apr12+ServTax 27.61 DR INR 251.00
A Oct 3, 2012 by
User
seo.kishore89  
 
I am also facing the same problem.


MABChgs-Aug12+STax 30.9 DR INR 280.90


Thanks,
Kishore
9540241431
A Oct 4, 2012 by
User
rajpce  
 
I am also facing the same problem and going to close my a/c from ICICI bank. they are cheater.

Thanks,
Rajeev
D Oct 5, 2012 by
User
sanjay.swami  
 
Very tru guys.. even maintaining good balance the bank is charging MAB+service tax.
I am thinking to close my account!!!

Sanjaykumar Swami
9970390537
D Oct 30, 2012 by
User
sujanabalu  
 
I am also facing the same problem and going to close my a/c from ICICI bank. they are cheaters and too much cutting charges from my account. they are cheating the people.
D Nov 7, 2012 by
User
anoopjarial  
 
ICICI bank charging "MABChgs" without any written or phone communication !!!

Please Advice if this is legal

Anoop Jarial
anoopjarial@gmail.com
9004083255
N Feb 10, 2013 by
User
maheshpujari  
 
Hi,
I am facing the same problems with my account. These guys deducted on
05/12/2012 PrivlgMABchgs, Nov12, +ST30.9 280.90
09/01/2013 PrivlgMABchgs, Dec12, +ST21.63 196.63

And this is my demat account with sherkhan According to norms this is a zero balance account. How these guys are deducted in my account.

I am frustrated very much due to irrelevant charges. Please don't repeat this.

Thanks,
M pujari
N Mar 19, 2013 by
User
Abhi.RW  
 
Hi,

same problem..

08/02/2013 PrivlgMABchgs, Jan13, +ST21.63 Dr 196.63
12/03/2013 PrivlgMABchgs, Feb13, +ST21.63 Dr 196.63


till date 2500.01 charged.


-
Abhi
N Jul 27, 2013 by
User
ICICI_Bank  
 
Dear Customers,

We are working on to address all the outstanding MABChgs issues, and we request you to contact us through customer care to work with us to sort out these problems.

Issues will be handled on case to case basis, we must need assertain you haven't received any communication in this regard before we re-credit the charges back to your account.

Appreciate your understanding!!

Thanks for being a valued customer.

Our 24/7 customer support staff offers superior service and support and will make sure we address your issue.

24hr Customer Care numbers for Retail Customers (Existing / New) :

Ahmedabad: 6630 9890 / 33667777 Andhra Pradesh: 98495 78000 / 7306667777
Assam: 9954108000 Bengaluru: 41131877 / 33667777
Bhopal: 3366777 Bhubaneshwar: 9938488000 / 3366777
Bihar: 9934008000 / 8102667777 Chandigarh: 5055700 / 3366777
Chattisgarh: 9893208000 Chennai: 42088000 / 33667777
Coimbatore: 4358000 / 7305667777 Cuttack: 9938488000 / 9692667777
Darjeeling: 9933008000 / 8101667777 Dehradun: 3366777
Delhi: 41718000 / 33667777 Delhi (Mobile): 9818178000
Ernakulam: 3366777 Goa: 9890478000 / 3366777
Gujarat: 9898278000 / 8000667777 Gurgaon: 3366777
Guwahati: 9954108000 Haryana: 9896178000 / 9017667777
Himachal Pradesh: 9816608000 / 9817667777 Hyderabad: 23128000 / 33667777
Indore: 4022005 / 9098667777 Jaipur: 3366777
Jamshedpur: 9934008000 Jharkand: 9934008000
Karnataka : 9845578000 / 8088667777 Kerala : 9895478000 / 9020667777
Kochi: 9895478000 / 9020667777 Kolkata: 9831378000 / 33667777
Lucknow: 9936218000 / 3366777 Madhya Pradesh: 9893208000 / 9098667777
Maharashtra: 9890478000 / 9021667777 Mumbai: 28307777 / 33667777
Orissa: 9938488000 / 9692667777 North East: 9862408000
Panaji: 3366777 Patna: 9934008000 / 3366777
Pune: 9890478000 / 9021667777 Punjab: 9815558000 / 7307667777
Raipur: 3366777 Rajasthan: 9829222292 / 7877667777
Ranchi: 9934008000 / 3366777 Shimla: 3366777
Siliguri: 9933008000 / 8101667777 Tamil Nadu: 9894478000 / 7305667777
UP East: 9936218000 / 8081667777 UP West: 9897308000
Uttaranchal: 9897308000 West Bengal: 9933008000 / 8101667777
N Mar 14, 2014 by
User
Chandrabhushannamdeo  
 
Hi i am chandra,

Recently without notice ICICI Bank deduct an amount on 12/03/2014 MABChgs-Feb14+STax 43.26 Dr. 393.26

when i have opened the account ICICI bank employee told me that there is no minimum amount boundation. If it is not so then what is the minimum amount that i should have to not get pissed off like this situation.

Hope! ICICI Customer Care Service team reply to this because it's an headache to dial that customer care number and wait till they get to the right information (after press 1 for soo. press 2 for that ... and soon)
N Mar 14, 2014 by
User
Chandrabhushannamdeo  
 
Hi I am Chandra,

Recently without notice ICICI Bank deduct an amount on 12/03/2014 MABChgs-Feb14+STax 43.26 Dr. 393.26

when I have opened the account ICICI bank employee told me that there is no minimum amount boundation. If it is not so then what is the minimum amount that I should have to not get pissed off like this situation again.

Hope! ICICI Customer Care Service team reply to this because it's an headache to dial that customer care number and wait till they get to the right information (after press 1 for soo. press 2 for that ... and soon)

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    ICICI Bank - Minimum Account Balance Charges