HDFC Bank — refund depository charges

Vaibhav shrivas

from Indore, Madhya Pradesh

Sep 19, 2019

Address: HOUSE NO. 205 SHRI RAM WARD, BEHIND GIRLS SCHOOL, MANDLA, Mandla, Madhya Pradesh, 481661

Hello sir,

This is in reference to the transaction made in my account under the header of depository charges; without any intimidation by the hdfc bank.

Kindly be informed that an amount of rs 807.33/- was deducted from my savings/salary account on 18 sept 2019 under the name of depository charges.

Initially when we did not have demat account they forced us to create one without intimating us that they are going to charge annual fees and i received the call earlier from customer care i also speak him deny of this service. Now all of a sudden they have charged rs 807.33/-.. This is very bad and disappointing. And i have never used the demat account till now.. If i call the customer care they will not have answers. And they will not communicate that they are charging.. If they would had communicated that even if i don't use the account, still would be charged then i would have closed the account.

And after all we are working hard and earning money. Kindly suggest how do we proceed with the same to ensure that in future, no such issue is encountered.

Also, i request you to please refund the deducted amount to my savings account.

Thanks and regards,
Vaibhav shrivas
Account no.-[protected]
Registered no.-[protected]
Alternet no.-[protected]
Location-mandla (Mp)

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HDFC Bank customer support has been notified about the posted complaint.

Verified Support

Sep 19, 2019

HDFC Bank Customer Care's response Dear Customer,

If you not using the demat account, we request you to submit application for closure of demat account and reversal of charges on prorata basis.
We would like to inform you that the regulatory guidelines stipulate that Demat accounts can be closed only on receipt of valid closure requests received from the customer.

Hence, we request you to please submit the closure form to any of our branches offering depository services. The form has to be duly signed by all the account holders.

The form has to be submitted to the branch in person (at least one of the account holders) incase of transfer cum closure cum waiver request. To process the same, we request you to submit any one self attested copy of valid proof of identity which is mandatory for all the holder(s) viz PAN card, passport, Voter ID card, Driving license etc.

There are no closure charges involved if the closure constitutes transfer of securities to another Demat account having identical name(s), identical PAN and order. For example, there are no off market transaction charges if all the securities are transferred from the Demat account in the name of Mr. Ramesh Tandon to another Demat account which is the name of Ramesh Tandon.

The off market transfer charges in such a case shall be waived, subject to submission of the following documents by the account holder during closure:
Annexure Q (copies enclosed) duly filled & signed by the account holder(s) with target DPID and client ID correctly filled up
Duly certified (signed and stamped by the receiving DP) Client Master List (CML) or Original Crystal Report (CR) in case of CDSL Accounts obtained from the target Participant with whom the client has opened a new Demat account or maintains a Demat account
Statement of Holding of the source account duly self-attested by the account holder.
All unused delivery instruction slips (DIS) to be cancelled and surrendered along with the Annexure Q
IMPORTANT: If all the above requirements are not met the waiver of off market charges will not be extended to you and you will be charged for the transfer to the other Demat account as per the tariff schedule agreed at the time of opening of Demat account.

We request you to provide de-linking instructions separately for e-broking/online trading account.

You may also contact HDFC securities at [protected]@hdfcsec.com to get additional clarifications.

Also, Kindly note that, Demat account held in sole name with nil holdings and no outstanding Demat charges can be closed based on email insctruction from your registered email id to [protected]@hdfcbank.com along with your 8 digit demat account number (can be viewed under HDFC Bank Net Banking>>>Demat Tab) and DP ID

Please find the soft copy of the demat closure request form below:

https://bit.ly/2KqWg6s

For the complete address and contact details of our Demat service providing Branches, Please visit the following URL https://bit.ly/2JulGj0.

-Nadia
HDFC Bank Customer Assistance

Oct 01, 2019

Updated by Vaibhav shrivas i already closed my demat account...2 year before and submitt the appliction...bt its not my fault that bank not proceed my application