I’ve had a bank account since I was 8 years. I must say that HDFC is the worst banking system I have ever interacted with.
I am going to write here my experience with HDFC securities. It is upto the reader to decide for him/herself whether you really want to have an interaction with a bank like this.
After a couple of calls the agent finally lands up in my office and briefs me. As usual there was a catch in what had initially told me and on reading the document and quesiton him I discovered some extra (hidden) payments that I would have had to make.
Anyways, I really didnt mind it cause I wanted a Demat account soon. I went thru with it, filled up the forms etc and asked him to come tomorrow and collect the check.
So when he came the next day, I give him a check fo 5800, he tells me he wants 2 seperate cheques. But he then tells me it shouldnt be a problem, Ill take care of it, and leaves. The next day or a day later he calls me and say that he requires another cheques of 799 for demat account. This amount was allready added to the first cheque I gave. I anyways provide him with another cheque.
He promises me that I will be given the HDFC Savings Ac and the Demat Account in 10 working days.
I call up after 20 days (due to all the holidays that came inbetween) to the numbers that were provided by the agent. No of the guys in HDFC securities new the status of the account. The Office near Ulsoor lake has always a problem with their systems and always kept me waiting. They told me they will find out the details and call me the next day. I wait for 2 days and then called up again. They say there is some problem in the processing and that they dont know what the status is.
So I then call up the Manager Ashraf. Good Lord. He is the worst personnel I have ever interact with from a customer service industry. First he says that my application returned due to some problem with the cheque. On enquiring more, I told him the CHEQUES WERE ALL CREDITED FROM MY ACCOUNT. He said he will call up that evening and give me the details. as usual he didnt call up. The next day I call him, he says MY MONEY GOT TRANSERED TO SOME OTHER ACCOUNT.
Now this is the status of my account
My money is taken from my account, credited to someone elses account.
But both my Savings Account and Demat are not yet oppend.
IT HAS BEEN 1 MONTH SINCE NOW
By now I had lost my patience with this bank. I had to be firm with him and asked him to cancell my application and refund me. He asked me to give me the cheque nos. I told him I dont have it with me right now, and asked him to check the system where all the transactions are listed.
He is so impossible. He says there are hundreds of cheques and he search and wanted me to provide him with the details. He then told me that he would call me in the evening and let me know.
WHAT ANNOYED ME THE MOST IS THAT,
WHEN I (as a customer) SO ANGRY AT THEIR SERVICE AND COMPLAINING TO HIM
’’HE LAUGHS’’ Im no kidding here. He was actually laughing at me.
But in the evening an agent from HDFC Securities calls me and tells me my account will be opened by monday. I was furious and had to yell at them.
I again had to wait for 4 days hoping he would get back, but no result.
I finally went to the his Manager.
Now I have to mention 1 conversation I had with the agent.
I was angry at Ashraf and wanted to complain or talk directly to his manager.
This is what the agent had to say ’’SHE IS NEWLY JOINED, SHE WILL NOT KNOW ANYTHING’’
This is some hope that was given to me. Neverthless I went to meet her. After complaining to her, she told me she would refund my money in the evening and tha she would call me.
Well no surprises, she didnt call, and I couldnt get in touch with her cause she was not at her desk (as per the operator).
Now when I call Ashraf to ask her mobile no. He says my account is open. I had to almost swear at him. I filled an application a day before to stop processing the application and he tells me now my account his open. I was so furious, I had to just yell and hang up.
So I finally get her on the phone and asked her wat was happening she says there was some problem, but I could come and collect the cheque later in the evening.
And then I finally get my cheque.
Well If I had the time, I really wanted to sue the Bank for the way they dealt with this. I have not written all my terifying experience with these people. Till date it gives me a headached thinking about it.
What I feel about the BANK
> No solid process in place to track / solve issues.
> People with very less experience on how to deal with problems
and MAINLY how to treat customers
> Poor systems to troubleshoot instantly.
I dont have faith in a bank that cannot open an account without so much of chaos and mismanagement. How do they expect customers to invest huge amounts of money especially in shares, where everything is online.
ADVICE
AVOID HDFC BANK & HDFC SECURITIES