Hello,
I had submitted the documents for opening a new ACE savings account to Kotak Mahindra whitefield branch.However after I got the internet banking credentials, I realized that Kotak Mahindra had opened an EDGE savings account and the amount of Rs50000/- which was taken from me during account opening has not been credited to my account. Despite multiple reminders, SR’s, calls(chargeable to me), the response from Kotak Mahindra is that their backend team is working on crediting the money to my account. However for past 4 weeks they are unable to do that even though the cheque has been encashed 4 weeks back. If a bank is unable to trace the money they have encashed due to technical reasons, should they try their level best to harass customers without crediting the money.
If I need to withdraw money for any emergency then would it be the branch manager of whitefield branch who would pay me from his own pocket or should I need to reach out the CEO of the bank since there are no escalation levels in Kotak Mahindra for end customers. End customers can only drop emails to customer care or call up customer care which has local charges who in turn will take their own sweet time to respond and provide results.
in case there is anyone from Kotak Mahindra who happens to see this feedback, then it is high time they bring in some internal regulatory practices since the bank looks like some money laundering or ponzi scheme which may be the reason for the lack of any accountability