I am going to close HDFC from this month! Dude, you get call but from which Bank? It will be helpful for us. I have accounts with SBI, AXIS (1 current 1 Savings) and HDFC (Will discontinue from this month as I don't see any difference with others except maintaining 10K AQB- somehow irritates me lot!).
Well, if you earn that much money per month then why to worry for small Rs.50 thing. And HDFC is the best bank of India regarding anything.
You need not to be Hindu... don't know why HDFC call it as "Hindu Undivided Families". They will actually look for your 10K buddy Just make call to your nearest branch and keep your 10K cheque ready, someone must come and did not ask your religion, as they did for me. Personally I don't like HDFC at all. They took my 1250/- (2 cards as it is joint with my wife) for Debit cards whereas I can get same from SBI at Rs. 100/- AXIS at Rs. 200/-. I would rather fixed that 10K for other purpose. Actually I opened that account for Paypal verification but Paypal now supports bank verification, i thought now can be used to pay someone using netsafe, but fortunately got SBI Credit card, so ultimately fully useless this account now to me. I get all facilities as HDFC from SBI and AXIS bank. (More than 5 years with these 2 banks, quite happy with them)
Yes HDFC is notorious for doing such stuff . WHen I opened my account , the bank agent got me a GOLD debit card and I was charged 500+ rupees for that ... I tried to get him to get that card cancelled and give my money back . He kept saying I was getting this insurance cover and that insurance cover.. I told him I don't care for any insurance money please cancel the card. He told me he couldn't do that (I suspect these people have instructions from banks for this or maybe incentive for the cards which attract higher charges). I then mailed to the HDFC corporate about this and my money was returned to my account (did lose some 20-30 bucks in taxes and stuff ) but I finally was able to get the regular debit card...
I have been using HDFC' savings AC since 2002 without any trouble. Yes, they will deduct around INR750 for non-maintenance of AQB, cash deposit charge by third party in any branch other than the home branch etc. are there. If you go through their rules and regulations, you will find everything stated. However, there are often issues which are mostly created by sales agents, who in order to fulfill their targets, often misguides the customers and does not clearly declare the hidden charges. Now, if you ever go through these kind of situation, you should directly lodge a written complaint to the branch manager as well as to the Chennai HQ. Coz, just by calling up the respective sales agent over phone and bashing him will not solve a problem, as you will have no evidence in your favour. Remember, documents speak better than words. I have recently opened SBI account, I am find them quite good too. However, the charges of nationalized banks are quite low.
Whats the harm in giving tax? If you have income, you have to pay income tax. I am paying it and I beleive there are many like who DO NOT beleive in illegal activity by not paying the tax.
Both of you are right! (starting and ending with freelance) While I called them they came within 15 minutes to my home to collect documents and cheque. I told several times, would leave Kolkata within 10 days so its urgent to get all documents, promised to send within 7 days, after 3 days while I saw no debit from my AXIS bank account (cheque which I gave) again called the guy then he said i need to show marriage certificate. I gave documents on 19th and they opened my account on 29th! after 10 days! then got doc within 7 days. I opned by rs. 11200. I asked the guy how much for debit cards, he told rs.250 approx. i thought its okay... but while i checked my account, I ripped off. i called customer care but did not like their voice tone at all, I have called at AXIS and SBI CC department several times, they seemed to me pretty helpful. secondly, I asked they guy that I need net banking with all facilities including fund transfer, but while I came to Delhi as soon as I got all documents, discovered no fund transfer facility, need to contact with branch- what a pain! next created netsafe card of amount rs. 1400/- bought of amount rs. 1150/- but still not got rest amount, 18 days over. already withdrawl all amount 1 day ago, now its time to throw away cheque books at dust bin!
Yes it is true. Private banks are not offering numbers of trasactions in saving account. Even you can't add more than 10 lakhs in your saving account in private banks. Better you move to current account.
If you are getting business payment or professional payment then you should have a current account. Opening a current account should not be a problem. Saving bank account is not originally for this purpose. Further Paypal at present is not sending personal payment to India as RBI rules (they are still working on solution). It is in good faith your bank has informed you to avoid such issue. Go ahead and immediately open a current account otherwise in future you may have payment withdrawal problem from Paypal as you payment may be treated personal payment. If you have saving account with your bank then opening a current account should not be a problem for you. Opening of current account at present does not require any kind of registration etc. Current account require you to maintain minimum balance. I do not think it should be a problem for your as you are receiving reasonable amount every month.
I have withdrawn 200 USD but I didnt got a call from ICICI bank I think soem people are getting calls if their amount is big
Deposits of Above Rs.10 Lacs in personal accounts need to be flagged and sent to Tax Authorities. Its better to avoid that else you may have to explain it and any tax dues would have to be paid with heavy penalties. This is in addition to harassment faced. It may go unnoticed sometimes. The verification may happen anytime within 3 years of the closing of financial year. In addition any single payments of Rs.50k and more in a single month to Credit Card Companies are also flagged.