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HDFC Bank Fund Transfer is a joke
January 10, 2006
If you are thinking of transferring funds online between your HDFC bank account and another bank account, be warned - it's just not possible from HDFC Net banking.
Why the heck do they then provide such fancy name as "Fund Transfer" option for their net banking?! This so called Fund Transfer can only transfer funds between two HDFC accounts. That is pretty much useless for me.
When I opened the account with HDFC bank, the representative from HDFC bank - there were three of them - assured me without a blink of their eye that it is possible to transfer funds from other bank accounts to HDFC bank account once the Net banking is enabled. Well seems like those were hollow promises from HDFC bank representatives. (I noticed on their website that they were "Best in Customer Responsiveness" - this might be their modus operandi!)
When I called up HDFC bank in order to enquire about this fund transfer, they informed me that transferring funds from other bank accounts is not possible due to "security risks". As if other banks are somewhat ignorant about these risks!
Posted by liveit at January 10, 2006 11:43 PM