Furniture, appliance rental companies and their weird need for unnecessary documents
We needed an extra cot for 3 months, since we had an uninvited guest coming to stay with us. We booked the order with Rentomojo, with the initial deposit which was refundable. Then there was a step for KYC. One either had to be a working professional, freelancer, self employed or student. Since I am neither working nor studying in an educational institution, I selected Freelancer. The documents I was asked to upload were the following: PAN card, 6 months bank statement, Profile picture. This did not make sense to me and I did not complete the KYC and have asked for a refund.
Now, how are these documents relevant for a furniture rental? And if one falls into the other categories, there are more documents, like govt id, gst certificate, student id etc.
Other rental companies like furlenco are also similar.
The Mallayas and Nirvas and Choksis get multibillion dollar loans from banks without any documentation, but we the common citizens, are asked to submit all sorts of unnecessary documents even when we have paid the money in advance. more
Now, how are these documents relevant for a furniture rental? And if one falls into the other categories, there are more documents, like govt id, gst certificate, student id etc.
Other rental companies like furlenco are also similar.
The Mallayas and Nirvas and Choksis get multibillion dollar loans from banks without any documentation, but we the common citizens, are asked to submit all sorts of unnecessary documents even when we have paid the money in advance. more
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Sir, there is not much you can do about the demands made by the rental co. However, if you mke your payemens and desposit via a credit card, there is a better chance that in the event of a problem or a cancellation, asking the CC company to cancel the transaction stands a better prospects for recovering your deposits quicker. I dont know how this works but it would appear that the CC company which credited the account has the means / authority(?) to pull back. May be some Local Circle member with CC rules expertise can clarify this. more
Sep 20
I don't think so. Once the money is paid by the CC company on the directive of the Card holder, the CC company does not have any authority to bring back the money from the beneficiary on behalf of the card holder. more
Oct 01
The problem is that these guys ask for the documents after the payment is made. And then they say, they will verify the documents and ask for more documents, if necessary. So, the person who ordered has to chase them for the refund. There is no online cancellation option. One has to call them and keep chasing them. If they are so afraid that the customer will hoodwink them, then let them not be in the business. more
Sep 19
You are absolutely right madam. I will give you another example. Recently I transferred a small amount to my daughter in Dubai. The bank after 8 days asked me " what is the age of your daughter?" Does that have any relevance? Whether she is 20 years, 40 years or 60 years- the bank is only doing a commercial transaction. If at all, they should have written it in the pre printed format provided by the private sector bank. more
Sep 18
Praveen Ji there is some logic in Bank seeking information. If your fund transfer is for your daughter who is studying, there would be concession which either of you could avail. If it is a Gift transfer, there would be a tax on it. Some KYC's are essential to determine the nature of transaction. more
Sep 20
No one will ask for any collateral for Mallya, Modi or Choksi because the amount loaned to them is depositors money (neither belonging to bank officials or ministers) If they don't pay back it is the depositors who lose. Here if you run away with the rented furniture or appliances it is his investment that is being robbed. When people in high places can steal billions, what credibility you have? He did not come to you, you went to him pleading to rent you a cot. And he want to make sure that he gets it back after the specified period. He must have come across many fraudsters who ran away with the rented articles. He is protecting his investment. If you do not want to furnish the documents asked by him, don't go to him. And the "UNINVITED GUEST MAY PLEASE NOTE,COME WITH A COT UNLESS IF YOU WANT TO SLEEP ON THE FLOOR" Thank God, the author did not ask for new law to be made against these appliances and furniture hirers. more
Sep 18
It sure is ridiculous to ask for all these documents, particularly PAN and bank statements. A deposit or some sort of a guarantee that covers the cost of furniture being rented out + the logistical costs should be enough for the company..... more
Sep 17
