SBI charged me AMB fee on zero balance account?

Z

Zaibatsu

Disciple
I recently saw a transaction sms alert of 115. I quickly checked net banking and saw that the transaction alert was for not maintaining my AMB. But when I signed up for my savings account, they told me its a zero balance account. I also have a PPF in SBI so I can't close the savings account. But heads up for all of you guys
 
When you say "they told you" means some sales/CC guy told you verbally? Did you check the actual documentation for terms and conditions when you signed up?
 
Rule has changed post demonitization. Average balance need to be maintained now. I assume you opened the account before demonitization. In which case no minimum balance was applicable when you had opened it.[DOUBLEPOST=1500099909][/DOUBLEPOST]Furthermore PPF is an independent account. It's not mandatory to open a savings account to have a PPF account. Close the savings account if you do not need it. Talk to your branch manager if you have problems in closing the savings account. PPF is a GoI account and banks like SBI and ICICI are just acting as agents.
Note: I find it easier to transfer money from savings account to the PPF account. Hence I personally have maintained both a PPF and a savings account in SBI.
 
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Zaibatsu said:
I recently saw a transaction sms alert of 115. I quickly checked net banking and saw that the transaction alert was for not maintaining my AMB. But when I signed up for my savings account, they told me its a zero balance account. I also have a PPF in SBI so I can't close the savings account. But heads up for all of you guys
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Zero balance account as in no minimum balance required for opening ?
How do i open that, i really hate that now we need to have minimum 5k in account.
 
I was told by the bank manager that it is a zero balance account. But I think SBI has changed its rules now(I was never charged for AMB before this month). So bye bye zero balance account. I'm keeping this savings account open because it's easily possible to deposit cash using SBI ATMs rather than going to branch, and also because it's easier to transfer to PPF online
 
Zero Balance account is an account which doesn't require you to deposit money at the time of opening the account only
But you do have to maintain the minimum balance as per rules
 
Zaibatsu said:
I have not been charged for 2 years. I don't think why I should be charged now
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contact CC and let them know and esclate the issue, they will waive off surely.

Also if it's a student account, and if you are out of college or something, that might be a reason.
 
Julian said:
Things have changed mate, we live in the age of 'acche din' now...
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come on, is that really needed?

I have 4 zero balance accounts, one is with PNB (8 years old acc), icici (2 YRS OLD) , digibank, and airtel new acc's. all zero balance, no issues with me. It has to be issue with some policy or something.
 
This is not an error dude. It's definitely the post-demon... minimum balance changes. Also applying to 'zero'-balance accounts. SBI specifically. I have other accounts too... ;-)
 
Zaibatsu said:
I recently saw a transaction sms alert of 115. I quickly checked net banking and saw that the transaction alert was for not maintaining my AMB. But when I signed up for my savings account, they told me its a zero balance account. I also have a PPF in SBI so I can't close the savings account. But heads up for all of you guys
Click to expand...

I believe that SBI PPF can be paid similar to NEFT - you do not need a savings account.

Would suggest to contact SBI CC or branch manager, as @Sobirvs said.
 
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