Don’t we bank our money so that we can have the peace of mind knowing that it is safe, while having the assurance that our money is growing through the interest earned? On the flip side are there not occasions when you need to withdraw a greater part of the money to spend it on some necessity?
I one day awoke to the rude shock to discover that my money at Standard Chartered Bank (SCB) had drastically gone down rather than grow. When I checked with the bank they informed me that as my balance was below the stipulated amount (Rs.25,000/-) the bank charged a whooping sum of Rs.650/-per month as "Charges for Non-maintaining minimum balance". In addition I noticed that they had levied another whooping amount of Rs.1250/- as renewal charges for my Standard Chartered Bank (SCB) Debit Card. I personally have never heard of a ridiculous debit card renewal charge. Generally in other banks they simply charge a onetime charge of around Rs.300/- at the beginning when you request for a debit card.
This lead me to close my Standard Chartered Bank (SCB) so called "Savings account" (a better name would have been Loosing Account), because It was far from saving as the bank was literally swallowing up all my money with their ridiculous charges.
When banking with Standard Chartered Bank (SCB) I would advise you to think twice before you entrust your money to them.
Comments
Only here can they get away with such ridiculous charges without even informing the client. I'm going through some banking difficulties of my own and I cannot fathom we are made to go through this drama.
I hope others wont fall into the same trap.