Same for me. I went to a new branch to open a private account. He says backend team can check old offers as well. If you have casa account they can check directly, if not they need pan card.
I am also trying to get epm against high variant account.
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Eligibility Criteria for ICICI Emeralde Private Metal - Discussion
I am also trying to get epm against high variant account.
Check out other banks as well. Many have got better rates in Iob/Boi/yes etc offers better rate than icici wm/axis burgundy/indusind Pioneer etc. I've heard icici backend system is good, so lower unnecessary stress. Heard good things about Boi as well.
I think wealth salary criterion is 3lpm net credit, private 5/6Lpm net.
You're right, banks like IOB do offer a pretty good exchange rate.
I just wanted less hassle, so went for it. Also, the rate I got was nearly same as the IBR. The difference was not that high for me to look at other options with some effort on my end. It depends on the amount, corporate relations etc. as well. Higher amounts generally mean better rates for you. Plus you have to talk to your RM before you go ahead with the online wire transfer.
What about fixed costs? They are generally pretty high. For eg Axis has fixed costs in the tune of 3k per outward remittance
Axis is the worst as far as I know. One of my friends has Axis Burgundy account and their forex rates are simply bad. I mean you can open a personal savings account with SBI and get much better value than them.
Btw, I am only talking about inward remittance
What about icici? How much is their fixed costs?
Yes, but @ash_m says he got it for less than 3.
For EPM, I closely miss the net monthly salary credit criteria of 3L+
That's why I wanted to know what is the lower limit they accept for salary wm.
For inward remittance, if you have a wealth management (same for private banking) salary account, then it is zero. It has to be a salary account, not savings account. I had confirmed this with my RM before making the transfer.
True. Icici do offer stress free banking.
I just wanted to let you know about other options & dont get carried away with fancy tags like wealth banking. many banks actually take advantage of these premium account/ relationship. I got to know few associates were so happy about "preffered rates" due to premium banking(burgundy & indusind pioneer). But later found out boi, iob,Yes etc are offering much better rates with basic relationship.
Most bank have tiered corporate relationship. 3Lpm is regular criterion. For your specific organization you need to talk to corporate rm, generally a vp level guy from nearby branch.
Ex. 3lpm net is regular criterion for burgundy. But for some organization it is 2lpm.
Irontech
TF Buzz
ICICI are going about this the wrong way if they want to compete with HDFC Infinia/DCB cards, they should straightaway offer Card to Card eligibility for people who move from Infinia/DCB with high credit limits, this way they can steal actual business worth thousands of crores from HDFC instead of the current useless criteria.
If they start giving EPM on C2C basis, iShop will shut soon or it will be devalued so much that hardly anyone will willing to use this. Every self Proclaimed Credit card influencers on X & YouTube will keep suggesting ways to abuse the reward program of iShop.
Currently even if they suggest loophole or any trick, it will not have any drastic effect because of tough criteria to get EPM & limited user base having EPM.
In fact, making EPM tough to get has made many users to get paid Times Black for using iShop benefits, despite having double fee of EPM.
Its win for ICICI as of now because they are marketing EPM as super premium card for UHNI/HNI customers & approving Times Black with high paid fee to almost everyone applying.
Some sensible point compared to random opinions flying around.
Profit per person is good criteria as it will boost there revenue and make ishop sustainable.
90% of infinia are just upgrades due to high spends.
I think HNI's bring more value to bank then high spenders with low income.
Accelrated rewards is just a bait to keep them engaged & committed with the bank.
Right. I dont get how hdfc earns any money through infinia at all.
MDR is barely 1.5-2%. The min RR is 3.3%. Average RR will easily go into 8-10% for a typical person.
It’s an instrument they only use to get you habituated . Your Infinia is hdfc infinia, subconsciously you’re with hdfc using a super premium card.
deepak.bhdj
TF Buzz
It has been stopped now !
idharkyadekhraha
TF Buzz
Do you mind sharing the contact of BM/RM? Can't DM because of TF's restrictions
