When I joined college eight years back, my parents decided to open an account in my name in the nearest bank to my college- today eight years later I thoroughly regret the decision.
When I talk about such things with my close circle of friends, my friends tell me how happy they are with their banks, the services, reward points and everything- I never had any moment in the last 8 years where I ever praised my bank. Thinking back, I remember often cribbing about my bank at various instances. Here is remembering few of them.
SMS Alert Fee – Every month my bank deducts a small amount for SMS alert services- which includes the sms regarding deposits and withdrawal. When I discuss this with my friends, I realize most of the other banks do not deduct for sms services.
Only 3 ATM uses in a month– Axis Bank is again one of the three banks that has capped the maximum number of ATM withdrawal to 3. INR 20 plus service taxes are charged for every transaction beyond the third one. I have so many friends who boast their unlimited number of transaction.
Credit Card points- I have both Axis Bank travel credit card and Citi Bank miles card. I used my axis bank credit card for over a year and accumulated 8000 points after spending a certain amount. And with these points I do not get anything apart from a pair of headphones.
On the other hand if I had spent the same amount on my CitiBank credit card I would have got around 26000 miles with which I can get two round trips to Pune to visit my cousin or three tickets to Goa. I have stopped using my Axis Bank credit card ever since I realized the numbers playing out.
During demonetization- It was sad to see how none of the axis bank ATMs ever had any money during demonetization. No doubt that it was at the center of the storm.
The reputation – I definitely was not proud of my bank for all the IT raids, fake accounts for tax evasion and all the employees it employed who were caught in the scams. I remember discussing with one of my friend who also has an account in Axis that it might be time we change our bank.
Insta Debit Card– Unfortunately, due to my careless error I lost my axis bank debit card last December. And I would call this my immediate reason for writing this blog. I was baffled to know every time that I visited their bank that they did not have stock of instant debit card. I visited them for continuous three months and that too in the heart of South Delhi, the capital of the country. I have been receiving the exact same answer “Ma’am, debit cards stock is over, please visit us next week’’
Unfortunately, even after so much I continue to have my account there. It is just the hassle involved in shifting the salary account, the fixed deposits, the other savings and also the closing of the account and then opening of another one in another bank that is preventing me from saying goodbye – although with every dissatisfying episode I feel that the final straw that broke the camel’s back is just around the corner. Through this post I want to share my experience and also hope to know from others if they share my feeling or if it is only my hard luck!