[Resolved]  Axis Bank — excess penalty without intimidation or notification

Address:Mumbai City, Maharashtra, 400053

Axis bank has levied penalties for insufficient funds on my account due to the failure of ecs payment.

1) there has been a monthly donation of rs. 500/- from me to unicef.
2) for 4 months i'd purposely not kept the money in my axis bank savings account due to a shoestring budget and increase of my personal expenses.
3) axis under the misleading term 'consolidated charges to a/c' has deducted 18, 393.14/- as penalties for a donation of rs. 500/- per month.
4) axis bank has not raised any red flags or intimidated before levying these penalties.

The bank current position is that it comes under their policy to do this, however, have not presented any concrete proof of the calculation. They have not acted in the interest of safeguarding the customer and have looted me 5x the money which was meant for donation.

I am a 23-year-old salaried employee who on a tight budget wanted to do some good by donating this sum to unicef. Instead, i have been cheated by the bank and levied penalties without any notifications from them.
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May 19, 2018
Complaint marked as Resolved 
Axis Bank customer support has been notified about the posted complaint.
Verified Support
Apr 18, 2018
Axis Bank Customer Care's response
Hi, we are here to help. Pls inbox us your registered contact details and we will get back to you at the earliest. Regards, Team Axis Bank.
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