Amount cut by ICICI Bank without Customer mistake !

POSTED BY Jagoinvestor ON February 8, 2011 12:56 am COMMENTS (10)

I have an ICICI Bank account which my father operates , He didnt knew that it does not have sufficient funds , but tried to withdraw money from the account , but it failed to provide any money as there was nothing there .. Due to this Bank has deducted Rs 28 for each trial ..

2 07/02/2011  ATM DECLINE CHG/08-JAN-11/2713 DR INR 28.00
3 07/02/2011  ATM DECLINE CHG/08-JAN-11/2713 DR INR 28.00
4 07/02/2011  ATM DECLINE CHG/08-JAN-11/2713 DR INR 28.00


Is it fair banking ? Does anyone know if bank has any valid reason to do this ? I read that it has to do something with VISA charges , but still what if some one tries to take money out 1000 times and this same thing happens ? Does it mean they will charge 28,000 penality for this?

In my case it was 28 * 3 = Rs 84 . Which is not a big amount , but this happens with atleast 10000 customers everyday , so it means 2.8 lacs per day because of WHAT ?

Share your thoughts !


10 replies on this article “Amount cut by ICICI Bank without Customer mistake !”

  1. Rajinder nath says:

    I was not able to recovering my ATM 2 error At south India at Sbi ATM and I decided to let it go as I am NRI can’t stay for ever in Chandigarh the 4000. Rupee lost twice and cancelled my debit card after that

  2. BISHNU says:

    Dear sir,
    I have a account in state bank of India where I m facing trouble in getting a new ATM card.I was already given an ATM card earlier but I lost it some day ago (2 months).since then I have to withdraw money by cheque. When I approached the bank one month ago,I fulfill all their requirement for getting a new ATM .A month have passed ,in b/w one month ,I visited bank 3-4 times,and didn’t get any desired reply by them,I also gave an application to them to change my older address to newer one,and again submmited the required document for that,but last day when I visited the bank in order to change my correspondence address,they refused me by saying that some officers are coming to visit bank,so u will be wait till 8 pm or to do ur work in other working day,I stayed there and watching their activity,I was ashamed on their working culture.I also visit bank today but same thing said by them.

    Plse sir show me the way through which I could make a complain against those shirker officers.

    1. I think you need to complain to Banking Ombudsman …


    Hi Manish

    Generally internet banking is free for all savings acc holders . I have seen that in the website itself.
    when my father applied for the one they charged fifty five rupees for interent password.
    I asked the reason for that. they are telling internet password is free only if i apply thru IVR. (interactive voice response). As i applied thru the branch i was charged for 55. this is their reply..

    all private banks are very clever in adding conditions within an offer.



  4. Atul says:

    Hi Manish,

    Looks like your father used Non-ICICI bank ATM. Irrespective of that the charges should not be there.

    I think we should create awareness of wrong charges levied by bank and inform SEBI/RBI. I think law will take its own course.



  5. Ram says:

    I agree with Anand on the first step. However, I would write an e-mail to them using their customer complaint redressal process. You can find their customer care info at

    After that, if you really want to pursue this, you can follow the escalation steps they’ve provided. I’m that by the time you reach step 4 and tell the person there that you’re not satisfied and plan to escalate this to the Banking Ombudsman (info on how to contact the Ombudsman is at the bottom of that link), they will either eaive the charge or try to make it up to you in some way (equivalent in cash of course).

    Worst case you can really escalate this to the Banking Ombudsman. However, the condition for this is that you need to wait at least 30 days to be able to escalate to the Ombudsman. Remember that with the Ombudsman it will have to be physical mail (no e-mails) and so it can involve additional costs (which you have to add to the Rs. 84 above).

    Honestly, even if the finest of fine prints state their charge, banks will always do anything to avoid the Ombudsman.


  6. Anand says:

    Login to your account at and write to the manager, asking explanation.

    Let’s see the official reply. Ask under which section they can charge such amount.

  7. Arudra Kumar says:

    My friend once had a bad experience with SBI credit card. During some emergency, using his SBI Credit card he wanted to withdraw Rs.10000 from an SBI ATM. He entered Rs.10000 but the ATM refused to dispense that amount and gave a message that it could dispense only 40 notes at a time. Unfortunately only Rs.100 were present in the ATM (This point was not mentioned any where). So, he had to use his card thrice to get the required amount (Rs. 4000 X 2 times and Rs.2000 X 1). After he got his credit card statement, we were surprised to see that he was charged, cash withdrawal charges – 3 times (Rs.250 X 3 = Rs.750). Had the ATM been filled with Rs.1000 notes, the transaction would have been only one and my friend could have saved Rs.500. Is this ethical to charge the customers for such things?


  8. Anil says:

    Irrespective of what the fine print says, this is clear cheating !!! How many Indians are “literate” enough to understand this !!!

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