[Resolved]  HDFC Bank Bank Isa Account — Poor service by HDFC Bank on ISA account opening

Address:

Pune, Maharashtra

Akhilanand Singh- Preferred Customer of HDFC Bank

While surfing the NET I came across several complaints about HDFC Bank's relationship managers, their casualness & poor knowledge and the ISA account. Recently I too had very bad experience with their RM (Relationship Manager) service.

The bank suggests to contact RMs for banking services like opening ISA account, Investment advices etc. The reality is that the RMs at the HDFC Bank are only interested in promoting products & schemes and they care little about customers.

I am a preferred(!!!) Customer of HDFC Bank, Pune. On 21st Oct, 2010 I applied for ISA account through their RM (Relationship Manager). The RM told that I will get my ISA account in about 15 days time. When I did not get my ISA for 20 days, I inquired. After several inquiries, I was told that it was mandatory to apply for KYC (Know Your Customer) along with the ISA form. I did that. KYC process took its own sweet time of 20days. During that period I was told by the RM that no other formalities are required and once KYC is done, I will get my ISA within couple of days.

I finally got my KYC verified on Dec 1st. 10 more days passed, today is Dec 11th, 2010 and I am still waiting for my ISA account after more than 50 days from the date of application.

Again on repeated inquiries I was told by the RM that he missed to obtain my signature on auto debit form. I got pissed off and escalated the matter with bank's Grievance Forum. It did not help the matter.

Akhilanand Singh