Sobirvs
TF Ace
Go to RBI, Complain. 100% chance icici won't give private banking but might compensate for 40-50k. Easy money if you see it thru. Ignore if you don't care.
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Strange ICICI Account Upgrade to Private Banking because of Times Black Credit Card??
shu_sha
TF Ace
So did you got that, you know what I mean 😉
Panthera_Tigris
TF Buzz
Please DM me what more I should ask from them. I have been PB since 2022 but I didn't even know there was a special debit card and welcome kit till last week lol.
Dobbiee
TF Premier
That happens when your focus is on your self development and growth. These small things dont come under consideration and are not relevant to put time on.
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So today ICICI did a mass silent downgrade for all TB card holders who got Private banking few months back?
Is it exactly 2 months after the mass silent upgrade? (This thread started on Dec 25, that means upgrade would have happened 2 months back)
Is it exactly 2 months after the mass silent upgrade? (This thread started on Dec 25, that means upgrade would have happened 2 months back)
So looks like I don't need to wait till Monday to send emails. No use anymore I suppose.
Oh well. I wish I actually had that LTF debit card .
Dobbiee
TF Premier
As they have corrected their first goof-up of upgrading to Private Banking, they might patch-up the LTF debit cards also.
From very beginning Times Black card was a joke, with high fee, high annual targets, and low base reward. It was declared the worst product launch of 2024. And ICICI worsened the mistake by giving and taking back Private Banking.
Looks like ad-hoc decisions are being taken internally.
Not only customers are confused, their own staff doesnt have clarity.
Someone responsible at senior level should take a burn for this screw-up.
That's awesome. If there is one thing I've learnt from technofino, always get email confirmation . Gives really good fodder to f em up later when they go out of their way to ruin things for us.
To be honest , like Dr.Anand mentioned, it's just a vanilla tier of Private banking , only the debit card has some benefit . I don't know why they needed to backtrack it.
It's not like people are lining up to take Times Black anyhow because of the absurd fees .
Either you reduce the fees to be near EPM range or atleast give better joining benefits. Neither was there and this private banking was a good alternative.
Someone definitely needs to be fired for this .
C E O ? ?
Someone in the mid to top management but not too high. That way innovation continues but stupidity and greedy aspects reduce.
Preferably the first dumb ass who signed off. Only after that it went to higher ups
shu_sha
TF Ace
WM and PB DC are life time free only even if you get downgraded
Shinnok
TF Buzz
Downgrade is pretty much as expected from ICICI - it's quite surprising it took so long for them to downgrade, honestly
I doubt debit card would become paid though
Only Coral debit cards are paid, and internally would need to get signoff from different departments to add a recurring fee, just easier to keep the same card
Closing existing debit card would also be very very unlikely, as they would need to send new cards and block existing cards, would cost quite a bit (to reprint + mail new cards) and would also cause customer panic (why is my debit card not working suddenly?? why did I get a new card sent??), would attract a lot of negative attention - UI change is a very small change in comparison
Personally planning to write a email to headprivatebanking@icicibank.com and raise a complaint with customer care - doubt would have any real effect, but have the time, may as well give them a headache 🤣
I doubt debit card would become paid though
Only Coral debit cards are paid, and internally would need to get signoff from different departments to add a recurring fee, just easier to keep the same card
Closing existing debit card would also be very very unlikely, as they would need to send new cards and block existing cards, would cost quite a bit (to reprint + mail new cards) and would also cause customer panic (why is my debit card not working suddenly?? why did I get a new card sent??), would attract a lot of negative attention - UI change is a very small change in comparison
Personally planning to write a email to headprivatebanking@icicibank.com and raise a complaint with customer care - doubt would have any real effect, but have the time, may as well give them a headache 🤣
Sobirvs
TF Ace
Best trick. Other's shd follow and get email confirmation now before closing the dc.
Not that I work at Icici or taking their side
but generally Debit Card LTF are always tied to the respective Program / Account unlike CC LTF's.
A Private Banking DC is LTF as long as you are a Private Banking Customer. If the account is downgraded than the variant of Debit Card for that particular Account will be LTF. Charges can be applied for higher variant DC.
It is the same for Hdfc, Axis (don't now about Kotak). In fact, Hdfc will charge you on a Pro-Rata basis >> meaning if you have imperia debit card and your acc is downgraded to a non-premier banking account, then for the number of days remaining in that year wherein the card is issued, will be charged a fee.
For eg - 365 days in one year. Imperia downgrade after 100 days. You will be charged fee for remaining 265 days.
On the flip side/ a positive note
Icici charges I think only ₹200 per annum (not fully sure on this), so Ig everyone can just keep the Pvt Banking DC.
Logically speaking , myself and I'm sure everyone would agree with you .
But what they initially did was not logical , it was a gimmick , which definitely had a positive impact for them where atleast one user I'm sure took Times Black for the private Banking aspect .
So , logical solution cannot be attributed as an excuse for a gimmick . They FAFO and now want to retract it , nothing wrong in customers also taking what's theirs rightfully in that case.
Dobbiee
TF Premier
Yes. Just reconfirmed this on phone banking. The card would continue to work incase its system auto-downgrade.
Incase the downgrade is manual then a new debit card is issued.
Edit: Same for auto-upgrades - no new debit card is issued automatically. Needs to be asked for.
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✪ D&C Cards Connoisseur 💳
TF Buzz
No where in ICICI channels or MITC, charges for PB Debit Card is mentioned. So, technically it's a LTF card. The max bank can do is to close the cards.
In case of HDFC, it was their EasyShop Platinum card which is having charges by default and is waived off for salaried & premium customers. Imperia or Preferred or anything are just a coloured layer over that base card. This is not the case for ICICI PB DC.
Some ICICI Private Banking Queries, please help to answer those who have PB account still:
- Do we get airport lounge access with Private banking debit card (like wealth management world master debit card)?
- Is there family banking facility for Private banking, and do we get family debit card with Private Banking (like Family360 account variant)?
- Any other lifestyle or otherwise useful specific benefits with Private banking account?
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