nathraoHave 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take proper advice and see each transaction and keep an explanation ready for source and purpose of fund deposited/withdrawn.
From India, Pune
Dinesh DivekarDear 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.
From India, Bangalore
licinvest37instead 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.
From Oman, Muscat
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.
adv.mayurSir send the bank notice for deficiency of service if they do not pay balance despite request to close the Account.
From India, Mumbai
asbhatAsk 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
From India, Pune
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