Hello Sir,
I want to complaint about ICICI Bank Account Minimum balance Fraud done to me "IQBAL SINGH". I requested to Bank representative for opening a icici bank with zero balance. He tells me about 2 type of zero balance account , one of them is sallery account where there is no minimum limit, other is trading account with Dmat account where there is no minimum limit.
I just opened the account on November 24, 2009. trading account with zero limit 026301005474 LOKHANDWALA branch , and after 11 month , ICICI BANK apply the condition that you did not maintain the minimum limit and QAB Charged so ICICI BANK take some of RS as a fine 06/10/2010 QABChgs,jul-sep10+ST77 "827.00" and 24/09/2010 24/09/2010 BIL/000178268107/min balance to maint/10688358038 500.00

This is a complete FRAUD from ICICI Bank part I even dont know meaning of QAB things.Now I want to know that is bank doing unfair trade practice and I want to apply minimum 1 Cror Rs as fine on This Dirty Bank Game with there customers for frustrating there costumer's.
I need to know that how and where to go in Consumer court and what is the conditions for the case.

Please help me in this regard as I cant keep on running to Bank with my 1 yr old kid. I will be very thankful to you.

The details are below
Account ID :026301005474
Name : IQBAL SINGH
Ph No 9892735456
and 204 C-wing
Deeraj Residency
Opp Goregon Bus Depot
Mumbai
maharastra
iqbalthakur[@]gmail.com


When I Ask for the conditions then they give the reason as followys:

-----Reply Separator-------Dear Mr. Singh,

We tried to contact you on your number, but could not establish any contact with you

According to our records it show that you have opened the account on November 24, 2009.

Please note that the brokerage accounts opened after January 01, 2009 have to maintain the quarterly average balance of Rs.5,000.00.

According to our records,the status of your account is a brokerage account in which you are required to maintain Rs.5,000 as QAB.

The charges will be levied for the Non maintenance of QAB in your account.

Charges :

The penalty of Rs.750 flat is charged for non-maintenance of QAB. In addition to this, these transaction charges are also applicable:

* For every new cheque book, Rs.5 will be charged per leaf.

* First 3 cash transactions (withdrawals or deposits) at the branch in a quarter will be free of charge and thereafter Rs.60 per transaction will be charged.

* First 5 ATM cash (withdrawals or deposits) transactions in a quarter will be free of charge and Rs.50 per transaction thereafter will be charged.

Service Tax of 10.30% on the service charges is also applicable on all these charges.

QAB Calculation:

Kindly note that the Quarterly Average balance ( QAB ) is calculated as mentioned below :

QAB = ( The sum of the end of the day balances in the quarter ) / ( Total number of days in the quarter ). must be equal to Rs.5,000.

Hence please maintain the balance accordingly.

When a transaction is declined at any non-ICICI Bank ATM or point of sale (POS) due to insufficient balance in the account, charges of Rs. 25 plus service tax @ 10.30% per transaction is applicable.

Hence, an amount Rs. 28 was debited from your account.

To know the complete service charges I request you to follow the below mentioned steps:
Under Personal Banking - Click on 'Deposits'
Select 'Common Service Charges' for details
We look forward to more opportunities to be of service to you.

Sincerely,

Md Akbar
Account Manager
ICICI Bank limited

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-----Original Message-----
From: B521363734@infinity.icicibank.co.in (B521363734@infinity.icicibank.co.in)
Date: Tuesday, September 28, 2010 08:29 PM
To: infinity_am@icicibank.com (infinity_am@icicibank.com)
Subject: Others

Branch Id : 0263 Account Id : 026301005474
dear sir/mam,I open my account in 25 nov 2009 with the spl privilage of minimum zero balance with online trading condition. I am afraid to see that in my accout i got that they take 500 for minimum balance .I am really afraid to see.Please check the agreement copy. even you are not informed me for that also I also want to know about the following Dr Charge 5 22 09 2010 ATM DECLINE CHG 30 AUG-10 9394 DR INR 28.00
6 22 09 2010 ATM DECLINE CHG 30-AUG-10 9394 DR INR 28.00