HDFC bank Ltd, India, types of accounts, netbanking,anywhere banking

HDFC Bank Ltd, India Home Earn money from home in India Banks in India

HDFC Bank bank is one of the largest private sector bank in India . It has branches and ATMs all over India , details of which are available at their website HDFC bank branch locations . HDFC bank ATM locatio ns. Like most private sector banks, all HDFC bank branches in India are networked. You can access your account from any HDFC bank branch in India.

Anyone can also deposit a local cheque in your account at any branch of HDFC bank. However, the bank charges a minimum Rs 50 for such non base branch transactions for standard current accounts. If someone deposits an HDFC bank cheque in your account at a Delhi branch and you have an account in Mumbai, it will be an inter branch transfer and the amount will be credited the same day . But HDFC will charge you Rs 50 (+service tax) for the transfer . If you deposit the same cheque at any Mumbai branch, you will not be charged. Third party cash deposits at non base branch are not allowed.

Exchange rates for foreign currency cheques and telegraphic transfers can be obtained through phone banking. Sometimes, their correspondent bank convert telegraphic transfers directly into Rupee drafts and deposit in the recipients account. In such cases, you can request the customer care to send a photocopy copy of the draft/credit advice received. If the customer care is unable to help you or is responsive, it is advisable to visit the branch where you have an account.

Since HDFC bank, offers online banking - Netbanking , you can check the balance in your account any time. Their online banking system is often down on weekends / holidays for maintenance. The user interface for online banking is very user friendly compared to ICICI bank. You can open a fixed deposit (FD) online using Netbanking, even at 10pm at night. The process is very simple, you have to specify amount, duration, branch and type of fixed deposit. The Fixed deposit is generated instantly . They will send the receipt for the fixed deposit booked online by post later. To break the fixed deposit, you have to visit the branch and submit the signed copy of the fixed deposit. To avoid TDS, their personal banker recommends opening Fixed Deposits in different branches of HDFC bank.

You can check the status of the cheques issued by you online. However, the status of outstation cheques deposited is not reflected unless the cheque is actually credited to your account. Outstation cheques are credited after 10-15 days (or even longer due to bank holidays) and it is difficult to track the status of these cheque. Hence it is advisable to deposit at the counter of the bank branch, so that you have an acknowledgement with you. If your cheque is not credited, after you contact their phone banking, they will only register the the complaint . They do not give any complaint number and tell you to contact on phone after 4 days. Public sector banks like Canara bank, for similar complaints , you are told the status of the cheque within 5 minutes

It is advisable not to keep large amounts in your bank account, especially if you use internet banking .

There is story in Mumbai Mirror dated May 18, 2006 on how Rs one lakh was transferred out online from the account of a HDFC customer to another HDFC account and then to an SBI account. Even after one month, the person who committed the fraud has not been traced.

They also offer free clearance of outstation cheques, drawn on HDFC branch locations with delayed credit, for current accounts. (ICICI bank charges Rs 100 per outstation cheque). You should ensure that you have stamped acknowledgement from the branch , since the cheque may be credited after 20 days or more. For locations where HDFC bank does not have a branch, clearance will take longer and the bank charges Rs 50 (+ service tax)

If you have a credit or debit card, you can use their virtual credit card, Netsafe for online purchase. If you deposit a cheque at the branch before 10 a.m, it is reflected in the online statement the same day before 7 p.m. If a deposited cheque is returned due to technical reasons, there are no charges. If the deposited cheque is returned due to insufficient funds, the bank charges Rs 50 and the cheque is returned to you by courier within 2-3 days.

Unless you have no option, it is advisable to get a stamped acknowledgement for cheques deposited. At times, a cheque deposited in their drop box, is not reflected in the bank statement. It can take up to 3 days for the cheque to be traced, after daily followup with their phone banking officers. The bank timings are similar to nationalised banks, usually from 8.30 am to 2 pm (Monday- Friday) and their phone banking officers are only available between 9.30 am and 6.30pm (Monday to Friday). On Saturday, the working hours are even shorter.

Bank charges are periodically revised and the updated charges are mentioned in extremely fine print on the last page of their quarterly bulletin to account holders. If you ask their customer support about revision in the bank charges, they will ask to ask you to visit their branch. We have visited their Mulund branch twice (September and October), but the latest copy of their schedule of charges for current accounts was not available. Breaking a fixed deposit, which normally takes 2 minutes in all other banks in India , takes a very long time in HDFC bank. I have waited for half an hour before their personal banker (more like a personal time waster) took the necessary action.

The charges for Foreign Inward Remittance Certificate (FIRC) were increased to Rs 150 with effect from July 1, 2005. HDFC bank interest rates for fixed rate home loans above Rs 25 lakh are lower by .25% . Floating interest home loans have an even lower interest rate. HDFC bank sells gold to retail customers in the form of Mudra rectangular gold bars of 5 grams . It offers a discount of 2% for existing bank customers. HDFC Car loan - Customer feedback

Feedback from a visitor to our website:

----- Original Message -----
From: "ysingh"
Sent: Thursday, November 24, 2005 10:06 AM
Subject: hdfc credit card query
Hi,
I have one HDFC Silver Credit Card expiring in December 2005. When I call their customer support executive they told me that now credit card is life time free means no annual feel will be charged. Last year I was charged Rs. 700 for that.
I have searched the web and didn't find any information regarding this on their website. Now how much I can rely on the statement given by the customer support executive. Because if she was not telling me the truth, then they will again charge me annual fee after 1 month.
I am thinking to cancel my card anyway as not sure of their truthfulness.
Will you help me to find out what the truth is.
thanks
Y.SinghAhmedabad.

Answer :I have had the same experience. Their phone bankers have told me that I am eligible for a free credit card, but when I asked them to send a copy of their terms and conditions, there was no response from them. You can try sending an email to info@hdfcbank.com and check their response. They usually reply to emails within a week

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