Hi,

I wanted to open a Demat account to start trading in shares and found out HDFC had a better facility for my minimum trading requirement, for opening a demat account they said I need to have a savings account to do so.

Applied for Savings account, Demat account and submitted all the required documents like (photo, address proof, Pan card photo copy and a cheque for Rs. 5,200.00 as Rs. 5,000.00 was the min amount required to open the account) on 21st of Feb 2009 in Bannerghatta Road branch, I was told that it would take 10-15 days for both savings account and demat account to open.

I didn’t get any information even after two weeks, hence visited the branch On Saturday 07th March 2009, they informed they will look into it and get back to me before the end of the day, which didn’t happen, I called them back on Monday to check, I was told account is open and should reach me shortly.

I got the welcome kit on 12th March & on 13th March I got the two SMS, 1st one stating (Incase you do not receive your Pin within 7 days, HDFC bank, Phone banking or the nearest HDFC bank branch) and 2nd sms stating (your HDFC Bank ATM/Debit Card PIN has been dispatched via Airway Bill Number 1020613790 though Velocity courier to your mailing address registered with the bank)

After one more week on 14th march as I didn’t receive any courier not any information about demat account. I was getting worried, got to the branch to check on it, I got to know they had lost my application, didn’t have a clue what happened to it.

I was asked to resubmit the application and an assurance was given stating every thing will be Ok by next week end.

On 28th March when I got to the branch, found nothing had happened. I requested them to close the savings account and cancel the demat account application which I applied for, the only reason that I wanted to become the customer for HDFC. I tried my best to tell them that I wasn’t happy with the service and request them to close all the account, but found it impossible to do so and they just keep saying to fill few more application and informed me that I can pick it up every thing from branch.

Because of there irresponsibility I have at a financial loss, as value of the share has gone up by 20% to 30%, they have lost my application, demat account still not open yet and no information about the Internet banking Id, ATM PIN.

I'ts been more than 5 weeks now, Kindly help me getting this over with by close the account and want them to pay for the financial loss which I am facing because of there irresponsibility.

Thanks,
Ravi Chandra Nagaraj