Axis Burgundy Account: What to negotiate for

[Quantum]

I have a Citibank salary account for more than a decade.
After the services got transferred to Axis, I was thinking to close this account and move to some other bank.
But then my RM reached out to me to sell some investment products, and I asked them if a Citibank account holder can transfer the account to Axis.
They said it's possible. I asked them what would be the account type in Axis that I would get, they said you would easily get Axis Burgundy.
I couldn't continue that conversation because of some other work.
Could you please help me understand that in addition to Axis Burgundy account, what other benefits I can negotiate for in terms of debit and credit card.
On Axis Bank website https://www.axisbank.com/burgundy-personal-banking I see that,
1) For Burgundy Debit Card, they have two variants i.e. MasterCard and Visa Card. Which one would be better and in terms of what?
2) On the same page, I see "Select Credit Card", is this some credit card name? Is this the only CC that one can get while moving to Burgundy account? I'm basically looking for a LTF premium CC from them. Is Magnus possible? LTF or with fee?

 

[Quantum]

did u reach RM or u got connected during retention. Do confirm

My RM reached out to me for some other stuffs. And I asked them about this just as a normal query.

 

[Quantum]

Let me know when you are actually able to convert your Citi account to Axis account.
Because as per my knowledge, this is not yet possible.

Yes, the "conversion" is not possible. But your RM can get your Axis Burgundy account opened with LTF Magnus. Later, you can close your Citi account or wait till March 2024 when they would finally start to merge the Citi accounts to Axis system. At that time, they would reach out to the customers to know their consent about account merging or closing.

 

[Quantum]

spoke to one of the BM in the Axis bank

Better to talk to your Citi RM because your Citi RM would value your long relationship more. For anything, talk to them only instead of Axis customer care/BM etc.
Also, even if you get an Axis Burgundy account opened via your Citi RM, the Citi RM would continue to be your Axis RM as well.
Because the Citi RMs are on Axis payroll now.

he mentioned moving is not possible it will be new Axis account with a new relation, and he is very clear on that.

He is right. "Moving" or "conversion" is not possible. It will be a new Axis Burgundy account.

As per him any new Burgundy account with over 5L salary / 10L AQB / 30L NRV gets magnus LTF

It is 3L salary per month. Pls refer: https://www.axisbank.com/docs/default-source/default-document-library/eligibility-criteria.pdf

He exaggerated it by saying 5L.
Either you maintain 3L salary credit per month or 10L AQB or 30L TRV.
This is the on-going eligibility criteria for "Magnus for Burgundy" to remain LTF.

 

[insight]

It is not predictable. I got a Visa DC.

Either way, what's the big difference? As far as I am concerned, the Burgundy DC is not such a great thing in the first place. Mine lies in a locker, unused.

When. Please do share. Trying to get Visa DC.

 

[Trust Me]

When. Please do share. Trying to get Visa DC.

I got it a while back. It's been reported here that they are issuing only MC now! If Visa really matters to you, please talk to your BM/RM if they can issue you one.

 

[insight]

I got it a while back. It's been reported here that they are issuing only MC now!

I heard. If you could ball park it & share that'll be great. I can push the RM more.

If Visa really matters to you, please talk to your BM/RM if they can issue you one.

Already done so.

 

[Trust Me]

I heard. If you could ball park it & share that'll be great. I can push the RM more.

It may not help, I'm afraid, since it's > 2 years now.

I wonder, does the RBI directive for allowing customers their choice of network applies to credit cards only?!

 

[insight]

It may not help, I'm afraid, since it's > 2 years now.

Hmm..

I wonder, does the RBI directive for allowing customers their choice of network applies to credit cards only?!

Can you share a link to this? What such directive is this?

 

[Trust Me]

Can you share a link to this? What such directive is this?

This was an widely publicised news (at least the CC thing), and has been discussed here in this forum as well. You could search for it if you're interested. The news was enough for me, and haven't looked yet for the actual RBI directive myself.

 

[insight]

This was an widely publicised news (at least the CC thing), and has been discussed here in this forum as well. You could search for it if you're interested. The news was enough for me, and haven't looked yet for the actual RBI directive myself.

Some key words if you can recall, as "RBI Directive" search did not bring relevant stuff up.

 

[Trust Me]

Some key words if you can recall, as "RBI Directive" search did not bring relevant stuff up.

Something along the lines of "RBI guidelines on card network options" or something similar, maybe?

 

[imdjay]

Some key words if you can recall, as "RBI Directive" search did not bring relevant stuff up.

for draft
CO.DPSS.POLC.No. S-**** /02-14-003/2023-24-

 

[insight]

"RBI guidelines on card network options

for draft
CO.DPSS.POLC.No. S-**** /02-14-003/2023-24-

Thanks for share

 

[Trust Me]

Thanks for share

Here is an update (28-09-2023) about how this card network choice thing is actually playing out:

"Card network portability may be delayed beyond Oct 1 ...."

 

[Priya KaramPriya Karam is verified member.]

I am in the same boat too. I am also a Citi salary account holder for more than a decade now. But, I am not aware of any RM. How did you get in touch with a RM from Axis Bank?

Since I don't have any Axis savings account, can Citi customer support assist me in transferring the account to Axis?

Hi,
I look after the Burgundy segment of Axis bank. If you want to reach out to an RM I can help you getting connected with him via a virtual call, you can understand what benefits you will get out of it.
Transferring your account from citi to Axis will not be possible but you can open a new upgraded account with Axis Bank without any account opening charges. You will get the services from RM who have handled Citi accounts in the past.

You can ping me on chat to clarify further.

 

[rj_arora]

Hi,
I look after the Burgundy segment of Axis bank. If you want to reach out to an RM I can help you getting connected with him via a virtual call, you can understand what benefits you will get out of it.
Transferring your account from citi to Axis will not be possible but you can open a new upgraded account with Axis Bank without any account opening charges. You will get the services from RM who have handled Citi accounts in the past.

You can ping me on chat to clarify further.

Hi, If one wants to open a burgundy Salary account,
1. What's the minimum salary required for getting Burgundy?
2. What's the minimum salary required for getting Magnus Burgundy LTF?

 

[coolguy1]

Hi, If one wants to open a burgundy Salary account,
1. What's the minimum salary required for getting Burgundy?
2. What's the minimum salary required for getting Magnus Burgundy LTF?

From what I've read,

1. 2 lacs per month
2. 3 lacs per month

 

[Priya KaramPriya Karam is verified member.]

Hi, If one wants to open a burgundy Salary account,
1. What's the minimum salary required for getting Burgundy?
2. What's the minimum salary required for getting Magnus Burgundy LTF?

Hi,
For 1, 2 answer is: net monthly salary credit should be >=3 Lac, in Axis Bank Salary Account. Magnus offer is expiring on 30th Nov so you wont be able to apply for LFT magnus card.

 

[sandydamy]

I have a Citibank salary account for more than a decade.
After the services got transferred to Axis, I was thinking to close this account and move to some other bank.
But then my RM reached out to me to sell some investment products, and I asked them if a Citibank account holder can transfer the account to Axis.
They said it's possible. I asked them what would be the account type in Axis that I would get, they said you would easily get Axis Burgundy.
I couldn't continue that conversation because of some other work.
Could you please help me understand that in addition to Axis Burgundy account, what other benefits I can negotiate for in terms of debit and credit card.
On Axis Bank website https://www.axisbank.com/burgundy-personal-banking I see that,
1) For Burgundy Debit Card, they have two variants i.e. MasterCard and Visa Card. Which one would be better and in terms of what?
2) On the same page, I see "Select Credit Card", is this some credit card name? Is this the only CC that one can get while moving to Burgundy account? I'm basically looking for a LTF premium CC from them. Is Magnus possible? LTF or with fee?

I got the Magnus card LTF after creating the burgandy account.

One more thing I tried to get is reserve/burgandy credit card. But that was not happening initially.

After using Magnus for couple months and looking at my credit line, I aligned my RM to covert my Burgandy salary account to Burgandy Private account. Now he is trying to get this upgrade done. This discussion just started few days back. Will update here if that happens.

 

[insight]

I got the Magnus card LTF after creating the burgandy account.

When was this? What was the Account specs for you to get Magnus LTF? Or conditional LTF like the new Mag Burg post deval?

We officially converted to Burgundy after being Priority with Axis for 10-15 years, so Im wondering how your RM is more enterprising.

One more thing I tried to get is reserve/burgandy credit card. But that was not happening initially.

After using Magnus for couple months and looking at my credit line, I aligned my RM to covert my Burgandy salary account to Burgandy Private account.

Now he is trying to get this upgrade done. This discussion just started few days back. Will update here if that happens.

Do share some dates/ apprx timeline on these events/ steps you've made.