Hello,
I have, after a long period of extreme dissatisfaction with Kotak Mahindra Bank, asked them to terminate my credit card (secured card with a balance of Rs 12, 485) and redeem the amount due against my FD (Rs 15, 401) as of late – however, Kotak Mahindra has been dragging their feet on every request I make in this regard.
Not only that, their system has suddenly increased the amount due to Rs 13, 300 something, which is absolutely not on – it is clear that they are just trying to loot maximum amount of funds possible from my fixed deposit.
Prior to this, for two weeks, I’ve been asking them to convert my card to an unsecured card, and they never replied to me. I also asked them, because of all the disputes going on with the bank (you can see the history in the previous tickets I’ve opened with the Ombudsman) to please delay the payment due date for this credit card from the 5th to the 15th, however, they studiously ignored this request.
Not only this, Kotak Mahindra has been threatening me since February 3rd (which is BEFORE the due date of the 5th) to pay up, or they will “automatically withdraw the funds from my fixed deposit) – which is clearly illegal, and not on. At that point, I had never requested this to be done, neither was it required, now that I have a week later, they’re refusing to do it (so they can eat up the entire FD with their delays and make some excuse about “more amount due” – which clearly isn’t the case from their OWN auto emails they have sent me).
When I email them back, I don’t receive a response for days on end, and when I do, it ignores – utterly ignores – everything I asked, and simply copies and pastes some “stock response” back at me. The reason for this is that Kotak simply wants to delay and cause confusion and thereby charge more interest on the card for whatever reason they see fit.
I have attached the communication quotes in the email to this complaint in pdf format – the reason I bring all of this up is to show that by delaying customer responses, Kotak Mahindra is simply trying to steal the customer’s money. I am sorry to put it that way, but that is what they are doing – plain and simple.
Not only that, they plain and outright LIE to the customer. I’ve asked them in the past about another credit card I applied for with them, their nodal officer got back saying “since I have one credit card with Kotak, I cannot have another” – this is obviously untrue.
Their customer service got back saying “since your CIBIL Score didn’t match the requirements, you cannot open another credit card account with us”.
Not only does the left hand not know what the right hand does at Kotak, and vice versa - - they are flat out CHEATING customers on a daily basis.
To reiterate what I want -
One, their nodal officer had promised via writing that all “extra charges” on the credit card were reversed (before Feb 1) (this was with regard to the previous complaint filed with the Ombudsman against the Bank) – but they never did this. Kindly ask them to reverse the Rs 585 that is still pending as “extra charges” on the card – they promised to reverse this, but never did.
Two, the FD balance is Rs 15, 400, and the card amount due is essentially Rs 12000, I’d appreciate it if you could please ask the bank to do the right thing and transfer Rs 3400 to my bank account at Kotak.
Further, there are pending “milestone” rewards of Rs 780 or thereabouts, which Kotak has not clarified how they will be paid out. I’d appreciate it if you could please ask the bank to do this, and have the funds credited to my account asap.
I am sorry to bring all of this up in a “detailed” manner, but Kotak’s service has been nothing short of sly, atrocious and utterly TERRIBLE in all regards, so I have no other option but to bring this up with the Ombudsman. I was hesitating to do so, but today, Feb 9 2022, I cannot see either the credit card in my account, nor the FD detail, and this was before I asked them officially to terminate the credit card, so clearly Kotak is doing “just as it pleases, willy nilly” and “playing” with customer funds.
I’d appreciate a swift closure to this; once done, I will never have a credit card or another account with these guys again.
I have filed reports with the relevant authorities, but Kotak bank is just full of scam artists and THEIVES, plain and simple, I request all to be aware of this.
Best,
Rahul Mookerjee
Kotak Mahindra Bank customer support has been notified about the posted complaint.
Feb 10, 2022
Updated by levissucks Despite several emails through their internet banking, despite over 40 tweets, despite this been going on for weeks - Kotak still has not taken the required actions. It is simple to cancel the card, and release the money - but they are dragging their feet on it to eat up as much time and (undue, since I requested cancellation before the date) interest as possible.
Kindly have this looked at. This is simply loot and highway robbery on the part of the bank. This bank just has the most awful, callours, pathetic, "dont carish" and horrible customer service I've ever experienced - and now they're doing downright illegal things too by delaying requests, and finding every excuse to steal the customer's money.
Feb 11, 2022
Updated by levissucks I cannot write enough about this experience. I am not a person that dwells on the negative, but Kotak's service is just shocking - the first support request was opened on the 2nd (or before that), the second on the 9th, the third TODAY. I have called them, emaile dthem, visited them in person - they steadfastly refuse to do anything other than copy and paste back at me saying the same thing essentially.
To Kotak Mahindra, I'd like to ask you two things -
1. Do you believe in the law of karma? What you are doing is slapping on interest charges for a card that is ALREADY canceled - not only is that illegal, but it is also a "wrong thing" to do - period! You are essentially forcing the customer to wait for donkeys years for something that should take a click online - is this correct?
2. Please confirm, if since this has been pending for NINE DAYS - you can finally find it in you to dispense just a LITTLE BIT Of customer service, and stop giving me the run around - and DO THIS NOW!
PLEASE READ everything I am saying. DO NOT just get back with "Sir it will be resolved", as it never is. Please have the funds credited.
I doubt anything will happen here, I doubt Kotak will even do anything, but hope springs eternal!!
Feb 11, 2022
Updated by levissucks To add insult to injury, what Kotak is doing is calling repeatedly for "minimum payment". After all the fuss, all the hassle, TEN days almost, three requests raised, apparently the right hand STILL doesn't know what the left hand is doing.
It is beyond retarded, first threatening me for payment BEFORE THE DUE DATE - then asking for payment AFTER the card is canceled - and NOT doing any of it anyway.
Branch, customer care, Twitter, it seems no-one really cares, I have nowhere else to post this TRUE EXPERIENCE, so I am posting here to help others.
Stay away from this bank - especially if you value your sanity (and if you prefer online communication etc, with Kotak nothing can really be done online) - and never, ever, use their credit cards, they are an absolute and utter disgrace.
Feb 14, 2022
Updated by levissucks The latest on this is Kotak has marked the "request" as closed. Yet, despite it being over 2 weeks now, my money has still not been returned to me.
I wonder what this bank thinks of customers, their true thoughts would be very interesting to hear indeed.
Just LOUSY overall, cannot access the credit card since the 5th, yet, my fixed deposit isn't being returned, they are more than happy to take money with a click, but return, noo...
I have started a complaint with the regulatory body on this one as well. Kotak Mahindra, if you are reading this, I hope you understand the immense dissatisfaction most people are facing using your services, and how you have literally ruined my peace and quiet in many regards ever since I made the mistake of starting the account online.
Just a huge UGH is all I have to add . . .
