[Resolved] HDFC Bank — hdfc bank depository charges

Naveen Vaddepalli

from Mumbai, Maharashtra

Address:

400077

Hi,

I have a salary account with hdfc Bank from 2011 onwards.
Every year hdfc charging me with the charges like depository charges. The same happened this year as well and charged me Rs 885.00 for Depository charges on Demat account which isn't used by me ever.
i had already complained about the same for closure November 2018. Which is partial work done by HDFC only. Please take the needful action. Please observe my records I'm a good customer to them. Still I'm facing lot many times like this depository charges by HDFC.
Kendly help me to get the amount back .

Was this information helpful?

No (0)

Yes (0)

Feb 18, 2019

Complaint marked as Resolved

HDFC Bank customer support has been notified about the posted complaint.

Verified Support

Jan 18, 2019

HDFC Bank Customer Care's response Dear Customer,

The charges levied to your account pertains to Annual Folio Maintenance charges (FMC) for your Demat account. Service Tax & Education Cess is levied separately. The FMC is levied after giving adequate advance intimation in the billing statement. Effective September 01, 2010 there is a revision in the ‘standard’ tariff with respect to the Annual Folio Maintenance Charges (FMC) from Rs. 500/- p.a. to Rs. 750/- p.a. We have introduced a differential transaction based FMC pricing model. Basis this model, the FMC payable by you would be based on the various slabs applicable to the transactions made in your Demat account. This flexibility will give you an opportunity to reduce the FMC in the subsequent year, basis the level of transactions carried out in the current billing cycle (1 year prior to the levy of FMC). Note: All transactions (Market, Off- Market, Demat and Remat) made over the current billing cycle would be considered for computing the subsequent year’s FMC. Presently Mutual Fund & Pledge related transactions made over the current billing cycle (1 year prior to levy of FMC) would not be considered for computing the subsequent year’s FMC applicable for your Demat account Please find the Tariff sheet for HDFC Bank Individual Demat Account -NSDL & CDSL (Regular/ Basic Service Demat Account): https://www.hdfcbank.com/assets/pdf/Tariff_Regular_%20BSDA.pdf We trust that you would have opened your Demat account with a long term objective of making regular investments in various securities. Basis the differential FMC pricing module you stand to benefit from a reduced FMC for the transactions done in your Demat account. In case you do not wish to continue with your Demat Account, you are requested to visit any of our nearest Demat Servicing Branch and submit your request for closure of your Trading and Demat Account to avoid the levy of charges in future. For the complete address and contact details of our Demat service providing Branches, please visit the following URL http://www.hdfcbank.com/personal/find-your-nearest/find- demat-branch

-Anay
HDFC Bank Customer Assistance