I have a HSBC bank account that has some small balance that I have not used in 13 years. I went to the bank to find out more about it.
First they checked my passport and said that my current password was not the one they had on file.
I told them that the old one had expired and this was the new one. Then they ran around like monkeys for about 15 minutes and then took photocopies of everything and at first said that I would need to get a copy of the old passport along with the new passport. I said I threw the old one away, the girl asked me why I would throw away the old passport, I stared at her for awhile and thought, you are kidding right? I was sweet and said that since I had a new passport there was no need for the old passport so I threw it away. They she went away and I guess got the go ahead from some where and they reactivated my account.
They also said that my signature did not match the signature on file. I told them that it was 13 years also and it must have changed a little. They show me a copy of the one on file and wanted me to sign like that. So I signed again and they were happy.
Then they asked to fill out a form called: KYC - Know Your Customer Form, some new form that the Indian government is making everyone fill out. In this form they had proof of overseas address and proof of Indian address and there is no way I had any of those documents to provide proof of address in India.
In my new USA passport there is a page that asks for you write your USA address and Overseas address and I wrote in both of the address and voila I had proof of Indian address. That was lucky, otherwise there would have been no way to reopen the bank account.
On the KYC form that also needed a picture. The bank said that they do not take pictures (this is surprising considering that every customer needed to fill out this KYC), and then I had to run out and go get a picture taken, and then they stuck the picture to the form and then I had to sign across the front of the picture and make sure that part of the signature was on the paper and part on the picture.
Then they made me write a letter on a white sheet of paper requesting a new Debit card since the last one was sent back to the bank due to no one being available to receive it. Unbelievable, that they made me write a stupid letter addressed to the bank manager. Weird. This was the old Indian system and with all these changes to banking the old system has changed very little.
Then I had to fill out a new form requesting a debit card. I did that.
On the way home we stopped for lunch at Mainland China and I got a call from the bank saying that they forgot that I had to fill out a Form 60 since I did not have a PAN card. Fought the traffic and went back tot he bank and got there at 4:15PM and they tell me that the bank closes at 4PM.
We called the young lady that was helping us on the cell phone and she took us in the back way and we finally filled out the stupid Form 60. Another Idiotic Indian Government Form.
OK, people just based on my experience to use a dormant bank account, India will never ever improve as far as policies and paperwork.
It took me one whole day to do this one activity and mind you the people were very nice and helpful, it is just the stupid process that is messed up.
I guarantee you that India will never ever improve. Thank god I am leaving soon, I think that India would frustrate me too much.
I love the people and hanging out and the food is terrific, but the silly red tape and stupid paper letters you have to write are stupid and that is what will make India a backwards country for the rest of my life. Maybe the next generation can improve it, but I doubt it.
All the other BRICS countries have terrific infrastructure and I see great improvement while India continues to deteriorate. Each time I see it, it simply becomes worse. There maybe a few new roads and a few new buildings, but overall still very poor.
The cost advantage will disappear soon of bringing jobs to India and I can see slow growth for a long time to come and within 5 years even no growth. India is in for some economic pain as far as I am concerned.
