Scams from SBI

Source

SBI stands for State Bank of India and it is the largest Public bank in India with approximately 50 Crores of individual Accounts under its Banner. That is no easy feat to achieve and part of the reason this Bank is so popular in India is because of its extreme reach throughout India. State Bank of India Outlets can be found in Top Tier Cities as well as Villages and even after that, they have opened Small Mini Banks tied up with others so that people can get easy access to their Money. But there are indeed a lot of things that are not good in State Bank of India and today I am here to talk about them.

Slow Work Flow

I can't even count how many times I have gone to an SBI Bank and I have had to wait for hours to get one job done. If that was not enough they also shuffle you around various Counters just to delay the work which they are required to do. This creates frustration among the people and most of the time creates a huge collection of people waiting on their branches just to get their Job Done.

Inter Branch Collection

Usually, there are a couple of Branches of each Bank in a Single Town and State Bank of India does not allow you to deposit funds via a Bank that is not your own Branch which is fked up as you are literally the same bank so why deny deposits if it's just not the same branch. This is an issue that I have had to deal with a lot as I have to stay in different places every couple of years due to my job and the whole Inter Branch Collection System making things so hard.

Highly Ineffective

I do own an SBI Account and you won't believe me when I say this but I do not have a Debit Card linked to my State Bank of India Account. I ordered one about 10 years back and apparently, the Card is still on Transit. Yeah, I am not even kidding, everytime I ask about the status they say that it will be delivered and this has been going on for 10 years.

Lots of Hidden Charges

In the past, I have seen a lot of hidden charges on my Account for transactions that were said to be free of cost. I made over 1000 plus transactions in their own App and the Transaction fee was supposed to be Zero as they said but when I printed out my Bank Statement I found out several charges of 5.60 INR every time I was doing a transaction. It was so bad that the Bank charged me over 1000's Rupees in Charges without even me knowing.

Now it's not like SBI is all bad as they do a lot of connectivity all around India but it is a fact that they do have some unsavory practices that make them a lot of money and make their Customers lose a Lot of Money at the same time. So yeah if you are an SBI Account Holder then please check all your transactions properly every Quarter.