Got a call from ICICI Wealth RM regarding 'downgrade trigger'!

[xfactcc]

Today I got a call from my Wealth account assigned RM that he has got a 'downgrade trigger' for my account because my account is not maintaining sufficient balance i.e., I am maintaining around 10k these days... so he has apparently got a trigger to downgrade my account to 10k MAB variant one.

I said the bank must inform me in writing via email or letter first before it actually does that, but he said no it happens centrally/automatically without any notification and his call is the intimation of that.

During account opening the branch official confirmed no downgrade will happen to this account, I mentioned that. He was silent about it.

It did sound like a threat call initially before he went on about the possible ways I can use their services and products etc and ended on a polite sales pitch tone.

Today's the month end, so is he bluffing or ICICI Wealth downgrade is going to happen? What do you guys think?

😕

 

[smz]

What's the name of this account?

It's online account open option. 10K normal MAB. But when Initial funding of 95K, they give 0 MAB. also refer my comment before your post.

 

[AritraSaha]

Existing users (also past users) of any bank (indusind indie is an exception, I read on some posts) can't open online new account with same PAN in the same Bank. Please inform me when this "rule" is removed.

Can't open if you close the account?

 

[AritraSaha]

What's the name of this account?

Insta save account
Code SBNIL

 

[smz]

Can't open if you close the account?

No. It will show that you already have an existing relationship with the bank.

 

[anotheruser]

Has anyone with 22Nov date email been downgraded?

 

[knight]

Has anyone with 22Nov date email been downgraded?

 

[mgforce]

Has anyone with 22Nov date email been downgraded?

Do note that Netbanking theme etc won't change immediately. So can't rely on that to check if down graded or not.

Do an IMPS transaction and if you are charged, you are downgraded!

 

[talkwithfino]

Do note that Netbanking theme etc won't change immediately. So can't rely on that to check if down graded or not.

Do an IMPS transaction and if you are charged, you are downgraded!

I don't think 22nd Nov would mean 22nd NOV literally!! they might wait for another 7-10 days and after a review downgrade the accounts.

 

[SSV]

Has anyone with 22Nov date email been downgraded?

You must be couting days very anxiously about the D-Day.. nothing happens exactly on that day.. They might even extend and say great offer for you... keep your WM status by depositing XXXXXX by xxxx date... and the saga continues..
At the end they want you and you want them in some sort...

 

[mgforce]

I don't think 22nd Nov would mean 22nd NOV literally!! they might wait for another 7-10 days and after a review downgrade the accounts.

May be, may be not.

If anxious, can always do an IMPS and be sure off 🙂

 

[anotheruser]

You must be couting days very anxiously about the D-Day.. nothing happens exactly on that day.. They might even extend and say great offer for you... keep your WM status by depositing XXXXXX by xxxx date... and the saga continues..
At the end they want you and you want them in some sort...

haha not that. I had a salary account (0 balance and 0 imps etc charges) before they upgraded to wealth themselves. The downgrade mail that came mentioned that I'll be downgraded to priviledge and that requires 25k MAB else I'll need to pay penalty charges. Maybe they sent a generic mail to all or maybe something else.
My expectation is that it should go back to older and still be 0MAB. Thats all. I wanted to verify if someone here had any account downgrade
The only thing I'll miss would be customer care immediately picking call and still saying, "sorry for making you wait " 😀

 

[shrewdoc]

customer care immediately picking call and still saying, "sorry for making you wait

Actually you're not missing much. Had a first hand experience few days back and had to wait 12 minutes before someone picked up the call. This was during working hours. When I asked for the reason of the delay, they said staff shortages, which I doubt.

 

[hellobois]

haha not that. I had a salary account (0 balance and 0 imps etc charges) before they upgraded to wealth themselves. The downgrade mail that came mentioned that I'll be downgraded to priviledge and that requires 25k MAB else I'll need to pay penalty charges. Maybe they sent a generic mail to all or maybe something else.
My expectation is that it should go back to older and still be 0MAB. Thats all. I wanted to verify if someone here had any account downgrade
The only thing I'll miss would be customer care immediately picking call and still saying, "sorry for making you wait " 😀

If I close wealth management account within an year will there be a closing charge? 😞😞

 

[SSV]

If I close wealth management account within an year will there be a closing charge? 😞😞

Yes , I believe

 

[Deleted member 11974]

If I close wealth management account within an year will there be a closing charge? 😞😞

after 6 months there isnt a clsing charge

 

[SSV]

If I close wealth management account within an year will there be a closing charge? 😞😞

Yes , I believe

after 6 months there isnt a clsing charge

This could be right.. I couldn’t remember exact time period.. may be better check for confirmation..

 

[SpiesCan'tCatchMe]

If I close wealth management account within an year will there be a closing charge? 😞😞

Yes , I believe

after 6 months there isnt a clsing charge

This could be right.. I couldn’t remember exact time period.. may be better check for confirmation..

I've had this same question for long now and I've come to the conclusion that;
Even if there's charges for account closure before completion of 1 year if you keep 0 Bal in ac bank can't charge you anything and RBI says ac bal can't go negative so it's a win win.

 

[hellobois]

I've had this same question for long now and I've come to the conclusion that;
Even if there's charges for account closure before completion of 1 year if you keep 0 Bal in ac bank can't charge you anything and RBI says ac bal can't go negative so it's a win win.

Mere 14rs unke pass hain, aaj hi nikal leta hun.
Bilkul risk ni lene ka re baba .... 😁😜🤣

 

[SpiesCan'tCatchMe]

Mere 14rs unke pass hain, aaj hi nikal leta hun.
Bilkul risk ni lene ka re baba .... 😁😜🤣

Mere bhi 111/- the ab zero kar diya 😂

 

[samm255]

I've WM account but they charged me for IMPS. Isn't it free for wealth customer?