[Resolved] HDFC Bank — predatory practices in forex rates - hdfc bank

Rajesh Math

from Bengaluru, Karnataka

Address:	Pune, Maharashtra, 411007
Website:	hdfcbank.com

We have a current account with hdfc aundh, we are an export houses and get payments from overseas. We have observed that hdfc takes the twice the amount of time for international transfer and gives the worst rate in the time for conversion...
E. G a transfer initiated on nov 20th should have reached india by 25th but the money was transferred on 30th. A quick look at foreign exchange rates usd-inr is in the range 65. Xx to 63. Xx and we got the currency exchange rate on lower end. As the amount was large there is close 16000 inr difference.
Just see attached screenshots and the money was there on 20th but we were informed on 30th plus the exchange loss and to add salt to injury we are classified as high risk customer (Due to forex- actually the bank is making more money here)

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Jan 13, 2018

Complaint marked as Resolved

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

Dec 12, 2017

Updated by Rajesh Math Dear sir/madam
We have been with hdfc bank for last ten years (We have current account and savings accounts)
The list of issues with your service levels are many. Every other year there have been major issues with our accounts
E. G 2016 - there was a missing check 3.5l for a month...
2015 - we were not issued an checkbook for 12 months... And we had to pay state government
[protected] arbitrary disabling of accounts
[protected] : debits for some services which were directly debited from our account fraduently... (This is happening evey year)

Now recently our current account has been disabled on 8th dec with no intimation
Which has caused us immense hardships and pain as this credit balance which is primarily our working capital.
Further to this your branch manager, relationship managers refuse to talk to us (Not picking up calls)
I have call logs, email to support this. On 11th afternoon after being on hold the customer support for hdfc person for close to an hour told me that due to re:kyc issue and only credits can happen and you cannot withdraw. I told her that all kyc documents were submitted on nov 10 and if there was an issue why did the bank wait till 8th dec to freeze our account (As your bank waits for all money to credit)

We are not experts but all these we feel hdfc bank uses fraudulent practices to keep the money (Interest free)

With our understanding this situation we need to be compensated on following :

For everyday of locked account we should be credited at the rate of overdraft for entire current
Account balance. Also we need to compensated for all our business liabilities that might occur
Due this unplanned action from the hdfc bank's side. We as law abiding citizens are willing to furnish all
Details that are required from your side as per rbi norms not as per hdfc request.
But we are not going to allow you to use our money interest free.

If the above condition is not acceptable we request you to stop this re kyc and close our accounts
And give us an demand draft on name of m/s adroit it network consultants private limited with immediate effect

Thanks a lot
Warm regards
Rajesh
[protected]

Call logs
7th with rm mr abhay singh : no response and finally on 7th was told that it is server issue
8th and 9th : the branch manager did not pickup ms vaishali belamankar rm mr abhay singh
10th filed an online complaint with reference hbl[protected]
11th : call customer support case number : punc[protected]
11th : call to nodal officer @ mumbai 400013 tel :[protected] did not connect
11th 7:30 i have made an verbal intimation to local police that bank is behaving unprofessionally and not responding on providing information

Verified Support

Dec 13, 2017

HDFC Bank Customer Care's response Dear Customer,

We are working on your concerns vide ref no:[protected] and will get back to you within 4 working days.

-Manoj
HDFC Bank Customer assistance