Are all banks like this?

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Zaibatsu said:
No no, you guys have got it all wrong! I used to do a lot of transactions using PayTM through HDFC bank daily for my different needs, so I won't need to go to the ATM everyday. So the bank called me and asked if I authorized these transactions and even asked the purpose of these transactions. Last time they called, they said they said they are having trouble monitoring my high no. of daily transactions and even asked me to lower it. So I got a little worried over my privacy, and posted this topic. So basically they are telling me to lower the no. of transactions that I do daily. And I should sit at home and do what exactly then? They still call me sometimes but I don't bother to pick up their calls thanks to Truecaller. Now I straightaway use my debit card at any site to get the job done, so they don't have the balls to ask me the purpose of it
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Digital wallets are a popular means for moving funds in frauds This is why HDFC requires an extra OTP step when you try to deposit money into PayTM through net banking, but not for most other net banking transactions. 8 transfers to PayTM per single day is definitely way too many and I can totally understand why they would get an alert triggered and want to call you up.

I transfer 2-3k at a time into PayTM once every 2-3 weeks or sometimes even more time and I never got a call from HDFC for that.
 
Zaibatsu said:
Everything is KYC verified bro. I have a VIP PayTM account. And there is concept of suing in indian law, it's called Court case as normal ppl refer to in India
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Your paytm account but what about those accounts in which you are transferring money. You cannot sue a bank for deficiency in service in a civil court in India,best you can do is go to consumer forum court citing deficiency in service. Also rest assured that you will lose the case if your sole ground is "bank asking every time after transaction".
 
guest_999 said:
Your paytm account but what about those accounts in which you are transferring money. You cannot sue a bank for deficiency in service in a civil court in India,best you can do is go to consumer forum court citing deficiency in service. Also rest assured that you will lose the case if your sole ground is "bank asking every time after transaction".
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What accounts are you talking about? I don't understand? Where and who am I transferring to exactly? I simply used to use PayTM for buying a Marlboro Advance double pack cigarette worth 300 Rs daily if that's what you wanted to know. And electricity,water,gas bill payements(for cashback), movie ticket booking etc HDFC bank can't see what I'm purchasing inside PayTM or if the merchan't paytm account is kyc verified. And I don't need your permission to sue the bank. Thank You
 
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Well, You can go ahead and try suing them. Best case scenario is that the judge will have a good laugh and dismiss the case and the worst case would be that he/she will penalize you for filing a frivolous case.

From the bank perspective, its suspicious activity if they see multiple transactions to a digital wallet service in a single day. They have no means of knowing that all transactions were to same PayTM account or that it is your own account. What they see from their side is multiple transactions happening to PayTM accounts which qualify as suspicious activity.

Given the RBI/Govt mandate to banks for more proactive monitoring for incidence of frauds and to protect customers,the bank can't be blamed for doing what it was being asked to do.

In fact, the banks can also put a temporary freeze on some or all banking services or the account itself to protect customer when they detect suspicious activity. A colleague has had this SBI account frozen and it was reactivated only after he went in person to his home branch.
 
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Lord Nemesis said:
Well, You can go ahead and try suing them. Best case scenario is that the judge will have a good laugh and dismiss the case and the worst case would be that he/she will penalize you for filing a frivolous case.

From the bank perspective, its suspicious activity if they see multiple transactions to a digital wallet service in a single day. Given the RBI/Govt mandate to banks for more proactive monitoring for incidence of frauds,the bank can't be blamed for doing what it was being asked to do.

In fact, the banks can also put a temporary freeze on some or all banking services or the account itself to protect customer when they detect suspicious activity. A colleague has had this SBI account frozen and it was reactivated only after he went in person to his home branch.
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Lol I was joking about the susuing thing
 
Zaibatsu said:
What accounts are you talking about? I don't understand? Where and who am I transferring to exactly? I simply used to use PayTM for buying a Marlboro Advance double pack cigarette worth 300 Rs daily if that's what you wanted to know. And electricity,water,gas bill payements(for cashback), movie ticket booking etc HDFC bank can't see what I'm purchasing inside PayTM or if the merchan't paytm account is kyc verified. And I don't need your permission to sue the bank. Thank You
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A normal person wouldn't be doing 8 transactions daily for the things you mentioned. How many different electricity,water,gas bills are you paying in a month or how many movie tickets are you purchasing in a month that would require doing 7-8 transactions daily?
 
guest_999 said:
A normal person wouldn't be doing 8 transactions daily for the things you mentioned. How many different electricity,water,gas bills are you paying in a month or how many movie tickets are you purchasing in a month that would require doing 7-8 transactions daily?
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lmao 8 transactions in one specific day for the entire month. You seem like a troll to me, so I'm going to block you
 
Zaibatsu said:
No no, you guys have got it all wrong! I used to do a lot of transactions using PayTM through HDFC bank daily for my different needs, so I won't need to go to the ATM everyday. So the bank called me and asked if I authorized these transactions and even asked the purpose of these transactions. Last time they called, they said they said they are having trouble monitoring my high no. of daily transactions and even asked me to lower it. So I got a little worried over my privacy, and posted this topic. So basically they are telling me to lower the no. of transactions that I do daily. And I should sit at home and do what exactly then? They still call me sometimes but I don't bother to pick up their calls thanks to Truecaller. Now I straightaway use my debit card at any site to get the job done, so they don't have the balls to ask me the purpose of it
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Zaibatsu said:
Not really, never! Maximum no. of transactions I ever did in a day was 8, and that was said by bank official himself. It's my father's funds basically which I transfer to my account, so even if the bank wanted to sue me, they couldn't. And I would counter-sue the bank for breaching my privacy and telling me how to use my father's funds. And tell my father too to close his account with them
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Zaibatsu said:
lmao 8 transactions in one specific day for the entire month. You seem like a troll to me, so I'm going to block you
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To others posting in this thread,if you still feel like posting here then good luck.
 
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guest_999 said:
A normal person wouldn't be doing 8 transactions daily for the things you mentioned. How many different electricity,water,gas bills are you paying in a month or how many movie tickets are you purchasing in a month that would require doing 7-8 transactions daily?
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Zaibatsu said:
lmao 8 transactions in one specific day for the entire month. You seem like a troll to me, so I'm going to block you
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Where did I say I'm doing 8 transactions daily? Kindly go away. There is no need for you to be here. You replied to my post even after I blocked you, which further proves my point that you are a troll. Thanks
 
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I was once bothered by Yes bank. What happened is while transacting online via 3d secure code I put in wrong password thrice or so. Then i kept getting calls from some number and i kept cutting those calls. And this was around midnight. Finally answered the call just to find that it was Yes banks monitoring team and they wanted to make sure it was only me doing those transactions and that my account, card or phone wasn't compromised.

It was a great welcomed initiative that there are also such teams around from banking sides which keep an eye on such transactions.
 
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guest_999 said:
A normal person wouldn't be doing 8 transactions daily for the things you mentioned. How many different electricity,water,gas bills are you paying in a month or how many movie tickets are you purchasing in a month that would require doing 7-8 transactions daily?
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I do only up to 3-4 transactions everyday for my entertainment and food and I don't need to study Commerce or open a Current account for that. 8 was the maximum in one day for a specific month. Again like the bank, you are commanding me on how to use my funds. It's not cool bro, Spending is like satisfaction for me
 
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Well, then you need to get over it. Banks can definitely dictate how and if they need to let you access to your funds. A bank can at times even deny you withdrawal of your funds though cheque or any other means . There is a lot that banks can do. They are not liable to give you your money as and when and how you demand it.
 
Lord Nemesis said:
Well, then you need to get over it. Banks can definitely dictate how and if they need to let you access to your funds. A bank can at times even deny you withdrawal of your funds though cheque or any other means . There is a lot that banks can do. They are not liable to give you your money as and when and how you demand it.
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They can't dictate crap. IMPS is the future. I don't need to let someone dictate me. I can easily close my account any time whenever I want, and it's none of your business
 
You are at the banks mercy even to close your account. You have to follow their rules and regulations. That is what it means to open a bank account. Don't like it? Then keep your money at home.

As for whether it is my business, it is indeed my business to reply when you post on a public forum. Don't like it? Well there is not much you can do about it. So get over it.
 
Lord Nemesis said:
You are at the banks mercy even to close your account. You have to follow their rules and regulations. That is what it means to open a bank account. Don't like it? Then keep your money at home.

As for whether it is my business, it is indeed my business to reply when you post on a public forum. Don't like it? Well there is not much you can do about it. So get over it.
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You're at your parent's mercy to use the internet. Don't like it? Then stop using the internet, Senseless logics really

I was just watching an episode on Crime Patrol where a man gets defrauded of over 90L due to a fraud working in the bank's end. And we are at mercy to obey the bank employees. Sounds good
 
Senseless or not, that is how it is. A bank as no obligation to even cash your cheque when you need it. Banks have that kind of power. This is why they can deny you your money during demonstration and why cashless is never a good idea.
 
Lord Nemesis said:
Senseless or not, that is how it is. A bank as no obligation to even cash your cheque when you need it. Banks have that kind of power. This is why they can deny you your money during demonstration and why cashless is never a good idea.
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It's also hard to keep exact change in handy everyday I order from Swiggy or Zomato. So being digital is the easier way
 
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