Kotak Mahindra Bank — reversal of demat maintenance

sriv73

from Mumbai, Maharashtra

Address:

Mumbai City, Maharashtra, 400071

Name: srividhya
Middle name: middle name
Last name: vijayaraghavan
Email: [protected]@gmail.com
Mobile isd: +91
Mobile number: [protected]

This mail is regarding my demat closure. I had requested for closure of account in august 2016. The bank had told me to fill a form for the closure and also taken my pan details. But the closure did not happen. So again in december 2016i went and met my rm and told him to look into the situation. So again i was told to fill out a form and give my pan card details. This time i was assured that my demat account will be closed. But all of a sudden now in june 2017 my account was debited with amount 690/-for maintenance of demat.

What did this mean? My demat was still not closed. Then again i went to the bank with a letter from kotak which said that my account was closed. The explanation they gave was that my trading account was closed and not the demat account. Now why was i not informed about this. Why should i bear the charges for the mistake made by the bank? Also they have told me that reversal is not possible for demat account. Why not? Taking money is possible and reversal is not?
This bank is not providing good service to customers. I have already written so many mails to them, but each and every time they close the service request or the query id created without even contacting me.
What does this mean? Such a big bank cannot provide service and a mere 690/- reversal for the mistake made by their executives.
Requesting you to take strict action and provide me with a solution.
Thanks

Regards
Srividhya vijayaraghavan

P. S. :pls find below the form attached for closing my demat account. I was later informed in june 2017 that this was the form for closing my trading account. How am i supposed to know which form for what. I just filled the form they gave me. Nowhere it is mentioned trading closure form. So whose mistake is this? They are just cheating people.

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Kotak Mahindra Bank customer support has been notified about the posted complaint.

Aug 08, 2017

Updated by sriv73 Today the bank people called after such a long time and asked me if I could provide them with the acknowledgement. I had already informed them that since I had given the closure form in Dec 2016, and as I thought that my account was closed, I dint pay much attention this. How do they expect me to safeguard a piece of paper for more than 7months? But still they keep insisting for that piece of paper which is only an excuse that they don't want to pay the amount. Although I have provided them with the letter from kotak that I had received, they keep asking me for that acknowledgement which I actually don't remember if I was even provided with one. This is how this bank takes care of its customers.
Each time my complaint request gets closed automatically without contacting me, but this time only because I have raised the complaint here, I have received a call. Hope at least this time it works. I am only asking them what is rightfully mine to return to me.
This has always been a problem with Kotak bank and they have never provided good service which I have experienced from the time I opened my account.