[Resolved] HDFC Bank — isaqmc deductions

[Resolved] HDFC Bank — isaqmc deductions

K krisgeorgemanimala from Pune, Maharashtra Apr 5, 2018 Mar 27, 2023 This thread was updated on Mar 27, 2023

Dear team, I have an account with hdfc that has been in active use for a couple of years. Today i noticed that on a quarterly basis deductions have been made under the head "isaqmc". I read around and found that this is being done for having the mutual fund buying ability via net banking. I do not recollect consenting to these quarterly deductions. Kindly stop deducting the same and reverse the charges made on the account. Thanks and regards Kris Was this information helpful? No (3) Yes (27)
May 19, 2018 Complaint marked as Resolved HDFC Bank customer support has been notified about the posted complaint. Verified Support Apr 07, 2018 HDFC Bank Customer Care's response Dear Customer, The referred charges levied in your account are Quarterly Maintenance Charge for your Investment Service account i.e online mutual fund account. Please note your Investment Service account will be charged Quarterly Investment Service account Maintenance Charges @ Rs. 250/- for Resident Customer and Rs. 500/- for Non-Resident customers excluding Goods and Services Tax (GST). Accordingly, your account has been charged with the applicable quarterly maintenance charges. We request you to contact your account branch for any further clarification on the same. Please feel free to write to us at: [protected]@hdfcbank.com for any further assistance / clarification and we shall be glad to assist you. -Manoj HDFC Bank Customer Assistance
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Ramesh Babu Kesiraju

Mar 27, 2022

HDFC Bank — isaqmc deductions
k Ramesh babu
HYDERABAD, TELAGANA

Dear team,

I have an account with HDFC BANK, that has been in active use for long back . Today i noticed that on a quarterly basis deductions have been made under the head "isaqmc". I read around and found that this is being done for having the mutual funds buying and selling via net banking.

I do not recollect consenting to these quarterly deductions. Kindly stop deducting the same and reverse the charges made on the account.

Thanks and regards

ganesanv57

from Chennai, Tamil Nadu

Nov 21, 2022

Dear HDFC team
I have been maintaining account in HDFC, Montieth road, Egmore branch right from 2011 Sep.
I have noticed deduction of Rs 295 as ISA QMC charges
I have not given any consent to open ISA account[protected] to my surprise it has been linked to my account . ISA account seems to have been opened on 31/01/2014 and you ISA QMC is being deducted from then on.
I would like to get back the entire amount that has been deducted right from Jan 2014 with interest.
I have not maintained any Mutual Fund with HDFC through ISA.
I would like to get convincing reply otherwise i may have to close the account i have with HDFC

ganesanv57

from Chennai, Tamil Nadu

Nov 22, 2022

I haven't received any response from HDFC

visha87

from Pune, Maharashtra

Mar 27, 2023

Hi,

I have been chasing HDFC bank since last 5 years to close my ISA account and have submitted closure form multiple times at Baner-Pashan link road branch and Vishrantwadi branch in Pune. Every time you say that the account will be closed in next 7 days and at the end of the quarter i get to know that the ISAQMC charges were debited from my savings account. This is unethical...!!!
First of all the ISA account was opened without my consent, i got to know that i have such account through net banking. Then i begun using it by starting few SIPs, but when i understood that you are charging Rs 295.00 in every quarter, i either transferred my holdings to other account or sold them. Now my ISA account doesn't have any holdings and yet you are debiting quarterly charges. It is uacceptable.
I want refund of all such charges debited from my account at least from the time i had submitted account closure form.

Vishal Tale
Pune