[Resolved]  ICICI Bank — sip & ecs cheating - icici bank auto debiting ecs return charges continuously over two months after cancellation

Address:

1 Floor, Ground Floor, Commissariat Rd, Bengaluru, Karnataka 560025, 560103

I had about 11 SIP registered with mfuonline.com On 29th Jan I had canceled all my SIPs with mfuonline and received acceptance confirmation email from mfuonline.

Even after canceling, this was presented multiple times to ICICI Bank in FEB, due to no funds I had been charged over Rs 4000 deduction by ICICI Bank. Image attached from bank statement.

My : Bank Account - 000201XXX212
Name : Rajiv T...XXX

ICICI Bank has also kept debiting these ECS Return charges silently without even sending any SMS, I was shocked to see over two months whenever any balance amount was present it kept on deducting the ECS Return charges of February.

I had visited ICICI Bank (Koramangla & MG Road Branch Banagalore ) asking them to stop any further deduction and revert back the funds as I have already canceled the SIP in January. They are not willing to help or revert back the funds for which I had already canceled the SIP.

With every passing day I am unable to use the bank account as it keeps deducting the money. I had asked them to check if there is any ECS debit instructions registered on ICIICI Bank - but they are not willing to confirm or help.

This is a fraud to cheat customers by both www.mfuonline.com and ICICIBank after accepting cancellation the SIP & ECS Return charges keeps getting deducted without even sending any SMS or message for any deduction of ECS Return charges.

I am very helpless that there is no proper system in place by both these companies and no one to help. Choosing the SIP option with ECS was the biggest mistake.

One should never fall in the trap for registering auto debit or ECS for SIPs as there is no proper system in place for cancellation.

I want my refund back for ECS Return charges and stop any further charges to by Bank Account.