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 !
Manish