Bank A/c Freeze. - CiteHR
Dinesh Divekar
Business Mentor, Consultant And Trainer
Nathrao
Insolvency N Gst Professional
Adv.mayur
Advocate
Licinvest37
Business
+2 Others

Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
I have saving a/c with xxx bank,Bangalore, bannerghata road branch ( no. yyyyy ) and it is freezed from september 2014. Because- in 2014 i was working in a real estate firm & in the last month august, i was getting my profit in this a/c. But my friend cheated with me after winning trust he took my ATM card y telling this that i am going delhi to take our own franchise & we need some money then i gave my xxx bank atm card in which the commision was about to credit. And when our client made deposit in my A/C, my friend withdrew all the deposit without my permission. ( Our client made small small number of deposit From date of 28 august 2014 to 1 september 2014 , the total amount of deposit was more than 2 lakh.) And my friend withdrew all the money without my permission & informatiom. when i cheked my registered Email ID, i saw all the amount deposited has withdraw immidietlly. then i called xxx customer care and i blocked my ATM card. and after blocking my card our client another deposit of amount 43000 ( 18000, 12000, 13000). after blocking ATM card my friend could not withdraw that amount also so he made a false deposit complaint on two only two deposit against 18000 and 12000, after conviencing my client that i lost his money. after few days i visited to xxx bank to issue new debit card, but they told me that your a/c is freezed. when i asked why they said because you have made same day deposit and withdraw ( bcz of type of transaction ). then i made complaint with xxx customer care and after the investigation process they said me confirm SOURCE OF CREDIT and NATURE OF TRANSACTION. then i submitted that document to my base branch, on that day branch officer said me that we will de-freezed your a/c in 3 -4 days. but after 2 days thay called me said that the document you have provided is not enough to de-freezed so now we are closing your saving a/c and after that you can collect your balance( we are sending you a closing a/c letter). after that when i visited to the branch to collect my balance they said we can't close now.

I just want to close my account so that i can collect my balance.

Please help me.
Community Prime Sponsors
FactoHR.com - Payroll Software with GPS Enabled Attendance, Travel, Performance Management, HRMS.
Talentedge.com "Interactive Anywhere Learning". Executive courses from top reputed institutes like IIM, XLRI, MICA.
Have you initiated any action against your friend who did multiple transaction on your a/c?
The bank is obviously suspicious of the transactions going on.
Was the 2 lakh deposit in cash?
The bank may reported to the matter to Financial Intelligence unit as a suspicious transaction.
You may lot of explanations to do.
Hope these figures are reflected in your IT returns?
When dealing with bank a/c there are no friendships and handing over ATM card was wrong and has put you in the needle of suspicion.
You will have to first deal with your friend and then only bank will be able to allow closure of a/c or all the responsibility of transactions will fall on you.
Please take proper advice and see each transaction and keep an explanation ready for source and purpose of fund deposited/withdrawn.
Dear Raju,
Your entire problem has arisen because of handing over of the debit card to unthorised person. Banks issue these cards for individual use and these are non-transferable. How come you forgot this basic banking requirement?
Closure or continuation of the account is not important. What is important is you get your own money after deducting the bank's own money. Continue visiting the bank and convince them to issue the cheque for the balance.
Thanks,
Dinesh Divekar
instead he should give one signed bearer cheque book to his friend if it so urgent alongwith debit card. however since it is icici bank then he can approach for deposit account opening so that his problem can be solved.
Hi Raju,

First of all, your bank account details are your personal property... Like your ATM/debit card. You should not disclose the bank account details (number & branch name) on a public forum like this.(Not that it matters now, as the account is freeze anyway!) But please make it a habit to keep these details in restricted distribution & be very cautious when anybody asks for these details.

You have registered e-mail ID with bank. How come you do not have mobile alerts for withdrawals? Set it up, when your account is defreeze.

When you say "Documentation provided for SOURCE OF CREDIT and NATURE OF TRANSACTION" was not enough for the bank", what does it really mean? Did they ask for any further documentation?

Was the transaction 'illegal' in terms of bank views?

Secondly, how can your friend make a "false deposit complaint" for the account which is neither his account, nor he is the depositor of the amount? Even if he convinced your client that you have the lost money, that was your profit, so what does the client care? Even if he did, did he not verify this fact with you, before complaining the deposit was false?? (....What does it mean by a false deposit anyway??)

Same day deposit & withdrawal are not illegal, especially small amounts like 18000 or 12000 INR. They are suspicious, if they are reoccurring very frequently. This generally happens on current account & not savings account. If you are doing business transactions on savings account, then it is wrong anyway. But If you have proper documentation for the profit (commission?) then you should be free to withdraw the amount on the same day.

Freezing an account is an big step & a simple application from you should be able to defreeze it. I think bank can report the transaction irregularities, but cannot keep the account frozen for such reason.

If they are insisting to keep the account frozen, then either:

1. There is a bigger background to this matter, which is not fully disclosed here. OR

2. Your pursue with bank is not strong enough.

Request the bank that you would open a current account for your business with them, & would justify the transactions till date with proper IT authorities on your savings account, & they may defreeze it for you quickly.

Best Regards,

Amod Bobade.
Sir send the bank notice for deficiency of service if they do not pay balance despite request to close the Account.
Ask the Bank manager to give you complaints book and write your compliant. It is totally wrong on the part of the Bank/Branch to not close the account after having written to you that they will close the account in 3/4 days. A copy of the complaint goes automatically to Banking Ombudsman who is bound to initiate action against the bank after hearing both the parties.
As regards your money that has been already lost, (after your having given your ATM card to your friend you can only file a suit against your friend (civil or criminal as may be advised by your lawyer)
A S BHAT
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™