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Harassment by DBS digibank

Complain ID : CCN024490   98  

Banks Complaint Complaint Date: November 22, 2016
  • State :  Karnataka
  • City :  Bangalore
  • Address: 20, Srinivasa Nilaya, 2nd Main, 3rd Block, HRBR Lyt, Kalyan Nagar, Bangalore-560084
I want to share my experience of harassment inflicted by digibank (by DBS). They have mentioned on their website that their account opening process is very simple. Just PAN and adhaar cards are enough to open account with them. The same was advertised by their CEO Mr Piyush Gupta also on some TV channel a few months ago. Perhaps on CNBC Awaaz. With this simple process, they just opened my account quickly.
After quick account opening, after a few days, they start calling and asking too much of personal information on the name of KYC. You have to tell them which employers you worked for in past, all the designations you had in past, which cities you ever resided, which loans you have and from which banks, and a hell lot of details, which usually no other banks ask.

I refused to answer all the questions as these are way beyond the KYC norms of banking in India. They threatened to close the account if I don’t tell each and everything. I asked for the reason, why are they interested to collect so much info, as it is way beyond RBI\’s prescribed guidelines, and beyond what other banks in India follow.. Are they running some information sale business? They just refused to answer and I refused to provide info. Finally they confirmed to close my account.

I have asked them to do it quickly, as they have anyway decided, and pay me interest for the period, for which my money was with them, along-with bank statement and interest certificate for my tax records, without any additional charges. They have agreed for this, and I am waiting for it. But they are not ready to apologise for wasting my time and inflicting the harassment.

Their attitude is so bad, they just consider you as their slave after account opening, and if you don’t submit to their in-genuine demands, they don’t bother to close your account. Account opening and then closing is a child\’s play for them, without giving any consideration to the customer\’s precious time.

I request you to please expose this cunning and anti-customer bank. Also, if their unique KYC requirements, which are way beyond the norms in India, are compulsory to keep account with them, they must ask for it before opening the account. They asked for it, when I started using the account, and I was in the process of linking my demat account with this bank account. Their CEO, Piyush Gupta must send a letter of apology to me alongwith the other documents, for making such an harassing policy for their Indian customers.
Complaint Against / To: DBS Digibank

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