Citibank account to Axis Account conversion

[Quantum]

Off late, folks have been wondering about the Axis account types post migration.
It seems Axis has already finalized the Axis account types for Citibank accounts as Axis has started sending out the Axis cheque books.

Following is the info that seems to be true as of now for Axis Burgundy account:

• If you have a Citi salary account, and even though your salary isn't in excess of 3L per month, BUT you maintained the 15L NRV and your Citi salary account was also a Cit Priority account, then your Citi salary account will be converted to Axis Burgundy Salary account. Employer and Citi tie-up has some contribution too.
• If you have a Citi salary account, and your salary is in excess of 3L per month, then even though you don't maintain 15L NRV or Citi Priority, your Citi salary account will be converted to Axis Burgundy Salary account.
• If you have a Citi savings account, and you maintain 15L NRV or Citi Priority, then your Citi account will be converted to Axis Burgundy Savings account.

Following is the info that seems to be true as of now for Axis Priority account:

• If your salary credit is less than 3L per month to Citi account, and you don't maintain 15L NRV/Citi Priority, then your account will be converted to Axis Priority Salary account.
• If you have a Citi savings account and you don't maintain 15L NRV/Citi Priority but somewhere around 2-4L, then your account will be converted to Axis Priority Savings account.

Citi Gold will be converted to Burgundy private.

IMO, if it is a salary account conversion, you need not worry about maintaining any other criteria other than the salary itself, and you should continue using the account.
But if it is a savings account conversion, and that too to Burgundy savings account, most probably you would need to maintain the AQB/AMB criteria, which doesn't make sense to me given the devaluations. I don't see it as a very logical decision to maintain the equivalent Axis account with higher AMB/AQB than Citi.
Not sure if post migration, Axis is planning to relax the Burgundy eligibility criteria and make it equal to the peanuts that they are offering now in terms of Burgundy/M4B benefits.

This is just a compilation of info that I got from colleagues/friends as Citi had a tie-up with my employer and many still have the salary/savings accounts with Citi.
As far as the value of Burgundy/M4B is concerned, The thrill is gone 🙂

 

[Vasuki]

Off late, folks have been wondering about the Axis account types post migration.
It seems Axis has already finalized the Axis account types for Citibank accounts as Axis has started sending out the Axis cheque books.

Following is the info that seems to be true as of now for Axis Burgundy account:

• If you have a Citi salary account, and even though your salary isn't in excess of 3L per month, BUT you maintained the 15L NRV and your Citi salary account was also a Cit Priority account, then your Citi salary account will be converted to Axis Burgundy Salary account. Employer and Citi tie-up has some contribution too.
• If you have a Citi salary account, and your salary is in excess of 3L per month, then even though you don't maintain 15L NRV or Citi Priority, your Citi salary account will be converted to Axis Burgundy Salary account.
• If you have a Citi savings account, and you maintain 15L NRV or Citi Priority, then your Citi account will be converted to Axis Burgundy Savings account.

Following is the info that seems to be true as of now for Axis Priority account:

• If your salary credit is less than 3L per month to Citi account, and you don't maintain 15L NRV/Citi Priority, then your account will be converted to Axis Priority Salary account.
• If you have a Citi savings account and you don't maintain 15L NRV/Citi Priority but somewhere around 2-4L, then your account will be converted to Axis Priority Savings account.

Citi Gold will be converted to Burgundy private.

IMO, if it is a salary account conversion, you need not worry about maintaining any other criteria other than the salary itself, and you should continue using the account.
But if it is a savings account conversion, and that too to Burgundy savings account, most probably you would need to maintain the AQB/AMB criteria, which doesn't make sense to me given the devaluations. I don't see it as a very logical decision to maintain the equivalent Axis account with higher AMB/AQB than Citi.
Not sure if post migration, Axis is planning to relax the Burgundy eligibility criteria and make it equal to the peanuts that they are offering now in terms of Burgundy/M4B benefits.

This is just a compilation of info that I got from colleagues/friends as Citi had a tie-up with my employer and many still have the salary/savings accounts with Citi.
As far as the value of Burgundy/M4B is concerned, The thrill is gone 🙂

Good information..
.

 

[Zacobite]

Off late, folks have been wondering about the Axis account types post migration.
It seems Axis has already finalized the Axis account types for Citibank accounts as Axis has started sending out the Axis cheque books.

Following is the info that seems to be true as of now for Axis Burgundy account:

• If you have a Citi salary account, and even though your salary isn't in excess of 3L per month, BUT you maintained the 15L NRV and your Citi salary account was also a Cit Priority account, then your Citi salary account will be converted to Axis Burgundy Salary account. Employer and Citi tie-up has some contribution too.
• If you have a Citi salary account, and your salary is in excess of 3L per month, then even though you don't maintain 15L NRV or Citi Priority, your Citi salary account will be converted to Axis Burgundy Salary account.
• If you have a Citi savings account, and you maintain 15L NRV or Citi Priority, then your Citi account will be converted to Axis Burgundy Savings account.

Following is the info that seems to be true as of now for Axis Priority account:

• If your salary credit is less than 3L per month to Citi account, and you don't maintain 15L NRV/Citi Priority, then your account will be converted to Axis Priority Salary account.
• If you have a Citi savings account and you don't maintain 15L NRV/Citi Priority but somewhere around 2-4L, then your account will be converted to Axis Priority Savings account.

Citi Gold will be converted to Burgundy private.

IMO, if it is a salary account conversion, you need not worry about maintaining any other criteria other than the salary itself, and you should continue using the account.
But if it is a savings account conversion, and that too to Burgundy savings account, most probably you would need to maintain the AQB/AMB criteria, which doesn't make sense to me given the devaluations. I don't see it as a very logical decision to maintain the equivalent Axis account with higher AMB/AQB than Citi.
Not sure if post migration, Axis is planning to relax the Burgundy eligibility criteria and make it equal to the peanuts that they are offering now in terms of Burgundy/M4B benefits.

This is just a compilation of info that I got from colleagues/friends as Citi had a tie-up with my employer and many still have the salary/savings accounts with Citi.
As far as the value of Burgundy/M4B is concerned, The thrill is gone 🙂

yes.. very true to what i hear too.. TRV/AQB/AMB demand is higher for axis for non salary accts

 

[statusquo]

Was Citigold. Got regular Burgundy, not Burgundy private. NRV of about 1 cr in Citi

 

[APT]

Off late, folks have been wondering about the Axis account types post migration.
It seems Axis has already finalized the Axis account types for Citibank accounts as Axis has started sending out the Axis cheque books.

Following is the info that seems to be true as of now for Axis Burgundy account:

• If you have a Citi salary account, and even though your salary isn't in excess of 3L per month, BUT you maintained the 15L NRV and your Citi salary account was also a Cit Priority account, then your Citi salary account will be converted to Axis Burgundy Salary account. Employer and Citi tie-up has some contribution too.
• If you have a Citi salary account, and your salary is in excess of 3L per month, then even though you don't maintain 15L NRV or Citi Priority, your Citi salary account will be converted to Axis Burgundy Salary account.
• If you have a Citi savings account, and you maintain 15L NRV or Citi Priority, then your Citi account will be converted to Axis Burgundy Savings account.

Following is the info that seems to be true as of now for Axis Priority account:

• If your salary credit is less than 3L per month to Citi account, and you don't maintain 15L NRV/Citi Priority, then your account will be converted to Axis Priority Salary account.
• If you have a Citi savings account and you don't maintain 15L NRV/Citi Priority but somewhere around 2-4L, then your account will be converted to Axis Priority Savings account.

Citi Gold will be converted to Burgundy private.

IMO, if it is a salary account conversion, you need not worry about maintaining any other criteria other than the salary itself, and you should continue using the account.
But if it is a savings account conversion, and that too to Burgundy savings account, most probably you would need to maintain the AQB/AMB criteria, which doesn't make sense to me given the devaluations. I don't see it as a very logical decision to maintain the equivalent Axis account with higher AMB/AQB than Citi.
Not sure if post migration, Axis is planning to relax the Burgundy eligibility criteria and make it equal to the peanuts that they are offering now in terms of Burgundy/M4B benefits.

This is just a compilation of info that I got from colleagues/friends as Citi had a tie-up with my employer and many still have the salary/savings accounts with Citi.
As far as the value of Burgundy/M4B is concerned, The thrill is gone 🙂

anything on credit cards

 

[Zacobite]

anything on credit cards

no news.. planned for Q2..by then hopefully some sense will. prevail

 

[Quantum]

Was Citigold. Got regular Burgundy, not Burgundy private. NRV of about 1 cr in Citi

If you have already received the cheque book that indicates regular Burgundy and not private, then please reach out to Axis PNO asking them to upgrade to private and why it was not converted to private in the first place.

Also, was this account Salary account?

 

[statusquo]

If you have already received the cheque book that indicates regular Burgundy and not private, then please reach out to Axis PNO asking them to upgrade to private and why it was not converted to private in the first place.

Also, was this account Salary account?

Thanks will try doing that. No, it was a regular savings + insurance account

 

[phheeewww]

Hello,
I recently got my chequebook of axis bank as i had given consent to transfer my citi relationship to axis. Axis has given me a Prestige bank account but I wish to get a burgundy account. I am willing to give a 10L FD and maintain my AQB of 10L for lifetime. Is is possible that my account gets converted to burgundy?
What should the process be to get this done?
Appreciate your help, please do respond.

 

[Quantum]

Hello,
I recently got my chequebook of axis bank as i had given consent to transfer my citi relationship to axis. Axis has given me a Prestige bank account but I wish to get a burgundy account. I am willing to give a 10L FD and maintain my AQB of 10L for lifetime. Is is possible that my account gets converted to burgundy?
What should the process be to get this done?
Appreciate your help, please do respond.

What is the ultimate benefit/product that you are aiming by trying to get a burgundy savings account that is based on 10L?
Magnus Burgundy credit card?

 

[phheeewww]

What is the ultimate benefit/product that you are aiming by trying to get a burgundy savings account that is based on 10L?
Magnus Burgundy credit card?

Since I have the reserve and magnus, i want to maximize on earning points on my spends. So i am considering getting the magnus burgundy to get the 5:4 ratio

 

[Quantum]

Since I have the reserve and magnus, i want to maximize on earning points on my spends. So i am considering getting the magnus burgundy to get the 5:4 ratio

I would say given the recent devaluations on these cards, getting a Burgundy account based on savings balance is not too beneficial as compared to what it was earlier. If you are salaried, you should go for Burgundy salary account. That makes more sense than the savings one.

I am willing to give a 10L FD

Burgundy savings account require balance of 10L in CASA. FD of 10L will be counted in TRV and TRV requirement is of 30L.
So, you would need 30L FD if you are going via FD route.

Is is possible that my account gets converted to burgundy?

Very much possible. Getting a Burgundy account is not a big deal.
You could convert your existing account, or could open a new one too with initial deposit of 10L.
As the Citi accounts are still in merge process, you would need to wait till your account (back-end) moves to Axis' systems. This would take another 3-6 months time.
I don't think Citi folks would be able to convert your account to Burgundy as of now, but you could reach out to RM/BM/PNO for clarification in this regard.
Pls note, it is the Axis management that is planning and making decisions wrt Citi accounts, and NOT Citi employees.

 

[phheeewww]

I would say given the recent devaluations on these cards, getting a Burgundy account based on savings balance is not too beneficial as compared to what it was earlier. If you are salaried, you should go for Burgundy salary account. That makes more sense than the savings one.

Burgundy savings account require balance of 10L in CASA. FD of 10L will be counted in TRV and TRV requirement is of 30L.
So, you would need 30L FD if you are going via FD route.

Very much possible. Getting a Burgundy account is not a big deal.
You could convert your existing account, or could open a new one too with initial deposit of 10L.
As the Citi accounts are still in merge process, you would need to wait till your account (back-end) moves to Axis' systems. This would take another 3-6 months time.
I don't think Citi folks would be able to convert your account to Burgundy as of now, but you could reach out to RM/BM/PNO for clarification in this regard.
Pls note, it is the Axis management that is planning and making decisions wrt Citi accounts, and NOT Citi employees.

This is great to know, 10L in CASA means?

 

[Zacobite]

This is great to know, 10L in CASA means?

current account saving account

 

[phheeewww]

So if i leave 10L in savings account, ill get burgundy? better to leave 10L in savings acc than do a 30L FD

 

[Zacobite]

So if i leave 10L in savings account, ill get burgundy? better to leave 10L in savings acc than do a 30L FD

that u have to chk with bank.. its now axis.. Anything is possible..

 

[shashank08]

Since I have the reserve and magnus, i want to maximize on earning points on my spends. So i am considering getting the magnus burgundy to get the 5:4 ratio

But now magnus burgundy is paid card with 30K+GST fee.

 

[aparnahm]

Off late, folks have been wondering about the Axis account types post migration.
It seems Axis has already finalized the Axis account types for Citibank accounts as Axis has started sending out the Axis cheque books.

Following is the info that seems to be true as of now for Axis Burgundy account:

• If you have a Citi salary account, and even though your salary isn't in excess of 3L per month, BUT you maintained the 15L NRV and your Citi salary account was also a Cit Priority account, then your Citi salary account will be converted to Axis Burgundy Salary account. Employer and Citi tie-up has some contribution too.
• If you have a Citi salary account, and your salary is in excess of 3L per month, then even though you don't maintain 15L NRV or Citi Priority, your Citi salary account will be converted to Axis Burgundy Salary account.
• If you have a Citi savings account, and you maintain 15L NRV or Citi Priority, then your Citi account will be converted to Axis Burgundy Savings account.

Following is the info that seems to be true as of now for Axis Priority account:

• If your salary credit is less than 3L per month to Citi account, and you don't maintain 15L NRV/Citi Priority, then your account will be converted to Axis Priority Salary account.
• If you have a Citi savings account and you don't maintain 15L NRV/Citi Priority but somewhere around 2-4L, then your account will be converted to Axis Priority Savings account.

Citi Gold will be converted to Burgundy private.

IMO, if it is a salary account conversion, you need not worry about maintaining any other criteria other than the salary itself, and you should continue using the account.
But if it is a savings account conversion, and that too to Burgundy savings account, most probably you would need to maintain the AQB/AMB criteria, which doesn't make sense to me given the devaluations. I don't see it as a very logical decision to maintain the equivalent Axis account with higher AMB/AQB than Citi.
Not sure if post migration, Axis is planning to relax the Burgundy eligibility criteria and make it equal to the peanuts that they are offering now in terms of Burgundy/M4B benefits.

This is just a compilation of info that I got from colleagues/friends as Citi had a tie-up with my employer and many still have the salary/savings accounts with Citi.
As far as the value of Burgundy/M4B is concerned, The thrill is gone 🙂

I got my cheque book few days back. In the mailer it was mentioned that my account will be converted to Priority account. According to you, it should be converted to Burgundy account since I have a Citi salary a/c and it is a priority a/c with NRV > 15l. Is Burgundy preferred to Priority account, what are the benefits? Should I complain and to whom? Pls help.

 

[Quantum]

I got my cheque book few days back. In the mailer it was mentioned that my account will be converted to Priority account. According to you, it should be converted to Burgundy account since I have a Citi salary a/c and it is a priority a/c with NRV > 15l. Is Burgundy preferred to Priority account, what are the benefits? Should I complain and to whom? Pls help.

Call Citi customer care first and ask for the reason why the account was not converted to Axis Burgundy salary account.
You could state that for some of your friends having the same salary range and NRV, it was converted to Burgundy salary.

After the call, you could also call your Citi RM and ask them to check on this. Let us know what is the response.
If the answers are not satisfactory, you could reach out to BM/PNO for clarification/upgrade in this regard.

Let us know the interim updates.

Having a Burgundy account that is based on salary is a good account to have.
Burgundy account feature and benefits: https://www.axisbank.com/burgundy-personal-banking

 

[statusquo]

If you have already received the cheque book that indicates regular Burgundy and not private, then please reach out to Axis PNO asking them to upgrade to private and why it was not converted to private in the first place.

Also, was this account Salary account?

Just heard back from the Axis PNO. Turns out they are as dumb as general Axis customer support. Have sent a follow up email. Hopefully, it's more positive this time