Bank freezed my savings account
09-May-2023 (In Banking / Finance Law)
Hi Sir,
I have a propriter firm xyz and all the payments I received in my saving account in a nationalized bank.
All things were going fine as customer was paying me via NEFT and I pay my workers via UPI.
Now, one month before, the bank freezed my account without any intimation and I am not able to withdraw money from any mode.
Due to lockdown and inability to visit bank personally I made an online complaint to the bank.
It was not handled , and I visited the bank in person then bank manager told me that they find illigal transaction in the account and they freezed my account and told that you need to have an current account. however they told me that for unfreeze the account I require to make a request on my company letterhead that I will not use my saving account for such transactions, and did the same.
Now still my account did not in function.kindly guide me what to do now. Iam very helpless.
Dear Sir.. Please see the terms and conditions if the bank carefully.. See the clauses wherein they have stated that under what conditions they could freeze the account.. If you do not get any answer, then you can file an RTI with the bank as it is a government bank to know about the functioning of your account.. If no support is provided then you can provide bank a legal notice in order to start the functioning of bank account. Otherwise file a complaint with appropriate forums..
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