Advice on Which Bank Account To Open

[huss8116]

I need your help to decide which bank to move to from my Standard Chartered account. Other than SC priority, I've ICICI wealth account, which I'm extremely happy with, and am gonna continue to use as my primary account.

I'm fed up with SC cause they have terrible service, in the sense they keep calling you to ask if we need any help but don't provide the help needed. The key areas where I'm not helped by SC and I'm looking for in the next Bank are the following:

1) Ability to update account details like address, etc online via aadhaar verification or something

2) ability to Download statements in Excel by financial year

3) maximum limit for RTGS per day. Right now ICICI allows transferring 20 lakh while SC allows 15. I would like it to be more than 15.

4) no charges towards issuing DD, replacement card, etc?

5) recently i need attested statements from the bank along with a letter in a format given by the embassy. HDFC and SC failed. ICICI gave the letter and 5 years' attested statements within 30 minutes at the branch. I expect the same from another bank.

6) Good credit Card offerings from the bank

7) Positive mindset to help customers

8) any other benefits for customers considering i can open the account with approx 25 lakh cheque and don't mind having to maintain a decent minimum balance.

Not very important:
A) Interest rates on savings

B) Presence of branches, if they have all features available on ebanking or mobile banking, i don't want to visit the branch

Banks that I've ruled out:
Axis - i met a few of their representatives, they seem to recruit ppl who don't understand their jobs. I don't trust their customer service one bit

HDFC and SC - I've tried them. Not very happy.

Let me know if I'm missing something.

 

[Chaitanya-a]

You may want to try IDFC First bank.

1) They have very solid online banking infrastructure.
2) Their branch employees are one of the best I've seen in any bank.
3) You can easily open Wealth account with 10L deposit. But ask them to convert into Wealth account just after account opening. Put this condition for a/c opening.
Check if you can negotiate for Private banking with 25L cheque.

Negative pointers:
4) Their credit cards are okayish considering they're LTF. Not best in the industry.
5) Customer care isn't very helpful specially when you've experienced ICICI service.

 

[huss8116]

Thanks Chaitanya. I read about IDFC and was tempted to try it. But most ppl seem to prefer IDFC for the savings interest rate. Their online portal is good? Is there any other Bank at par with ICICI in terms of customer service?

 

[magneto]

I need your help to decide which bank to move to from my Standard Chartered account. Other than SC priority, I've ICICI wealth account, which I'm extremely happy with, and am gonna continue to use as my primary account.

I'm fed up with SC cause they have terrible service, in the sense they keep calling you to ask if we need any help but don't provide the help needed. The key areas where I'm not helped by SC and I'm looking for in the next Bank are the following:

1) Ability to update account details like address, etc online via aadhaar verification or something

2) ability to Download statements in Excel by financial year

3) maximum limit for RTGS per day. Right now ICICI allows transferring 20 lakh while SC allows 15. I would like it to be more than 15.

4) no charges towards issuing DD, replacement card, etc?

5) recently i need attested statements from the bank along with a letter in a format given by the embassy. HDFC and SC failed. ICICI gave the letter and 5 years' attested statements within 30 minutes at the branch. I expect the same from another bank.

6) Good credit Card offerings from the bank

7) Positive mindset to help customers

8) any other benefits for customers considering i can open the account with approx 25 lakh cheque and don't mind having to maintain a decent minimum balance.

Not very important:
A) Interest rates on savings

B) Presence of branches, if they have all features available on ebanking or mobile banking, i don't want to visit the branch

Banks that I've ruled out:
Axis - i met a few of their representatives, they seem to recruit ppl who don't understand their jobs. I don't trust their customer service one bit

HDFC and SC - I've tried them. Not very happy.

Let me know if I'm missing something.

IMO Axis Bank is very helpful towards thier customers, I have been with them for the past 13 years and never have I needed to visit their branches. Last year they offered me pre approved credit card for the first time that too with a limit of 1L, and gave two more cards with it, I also recieved pre approved limit enhancement of 95k in a year. My Axis Select card had an EMI which is not counted towards fee reversal and excluding that I had spent 5L (6L required for reversal), emailed to PNO and they reversed my annual fee . To update details we can just update account and card mobile number separately from Axis Mobile app also the address, no need to visit branches. So far best experience with Axis Bank, only issue is of the famous "consolidated charges". Other banks I think IDFC First Bank and IndusInd Bank is good

 

[Kiranonlinee]

Problem with indusind is they will bug u like anything for loan / cc

 

[John Since]

I need your help to decide which bank to move to from my Standard Chartered account. Other than SC priority, I've ICICI wealth account, which I'm extremely happy with, and am gonna continue to use as my primary account.

I'm fed up with SC cause they have terrible service, in the sense they keep calling you to ask if we need any help but don't provide the help needed. The key areas where I'm not helped by SC and I'm looking for in the next Bank are the following:

1) Ability to update account details like address, etc online via aadhaar verification or something

2) ability to Download statements in Excel by financial year

3) maximum limit for RTGS per day. Right now ICICI allows transferring 20 lakh while SC allows 15. I would like it to be more than 15.

4) no charges towards issuing DD, replacement card, etc?

5) recently i need attested statements from the bank along with a letter in a format given by the embassy. HDFC and SC failed. ICICI gave the letter and 5 years' attested statements within 30 minutes at the branch. I expect the same from another bank.

6) Good credit Card offerings from the bank

7) Positive mindset to help customers

8) any other benefits for customers considering i can open the account with approx 25 lakh cheque and don't mind having to maintain a decent minimum balance.

Not very important:
A) Interest rates on savings

B) Presence of branches, if they have all features available on ebanking or mobile banking, i don't want to visit the branch

Banks that I've ruled out:
Axis - i met a few of their representatives, they seem to recruit ppl who don't understand their jobs. I don't trust their customer service one bit

HDFC and SC - I've tried them. Not very happy.

Let me know if I'm missing something.

If you want best customer care on mobile, nothing matches kotak as they follow up till your issue gets resolved.
Branch experience is decent.
NB has limit of 20 lakhs too like ICICI which they increased recently.
Credit cards are not that attractive but you get LTF and LE regularly every 6 months and they are huge.
With 25 lakhs initial funding, ask them for Privy which will give you free debit card and all other features.

 

[VGisHere]

Following!

 

[TheTrickySid]

You may want to try IDFC First bank.

1) They have very solid online banking infrastructure.
2) Their branch employees are one of the best I've seen in any bank.
3) You can easily open Wealth account with 10L deposit. But ask them to convert into Wealth account just after account opening. Put this condition for a/c opening.
Check if you can negotiate for Private banking with 25L cheque.

Negative pointers:
4) Their credit cards are okayish considering they're LTF. Not best in the industry.
5) Customer care isn't very helpful specially when you've experienced ICICI service.

Any idea about downgrade for non maintenance of mab??

 

[Chaitanya-a]

Thanks Chaitanya. I read about IDFC and was tempted to try it. But most ppl seem to prefer IDFC for the savings interest rate. Their online portal is good? Is there any other Bank at par with ICICI in terms of customer service?

Their app is one of the best in industry. I have liked only 2 banking apps i.e. ICICI & IDFC. Tried many other banks but their apps are worst.

For customer service, I'm unable to find any other bank that can match ICICI yet. You have to skip this preference unfortunately. However branch people of IDFC are very helpful. Your RM would provide any help if needed.

 

[Gabbar.Singh]

You may want to try IDFC First bank.

2) Their branch employees are one of the best I've seen in any bank.

Not at all the branches, I guess.

I had quite bad experience at their one of branches in Bhopal. Their staff were callous and couldn't arrange me wealth CC. Most of the time they didn't respond. In fact, I closed the account. I wrote them my experience in frustration and they after few days issued me wealth CC even without an account with them!

I like the experience with their internet banking and mobile app. The RTGS limit is 20 lacs and I wanted to raise it to 1 CR. They said, their system didn't allow to change this limit. However, one of the staff at another branch told me it was quite possible. In general, they were not responsive and helpful.

Now I am thinking of opening a Pratham Account with them.

 

[Gabbar.Singh]

All the process in IDFC is online. They couldn't arrange you CC by themselves. You've to apply yourself.

If that was so, they didn't tell me. They wanted me to maintain a relationship of more than 75 lacs. I did for couple of months and they said they tried but it they didn't succeed.

If what you said is true, I would assume they cheated me in not telling me the correct process or lying about their process. Is this the customer service?