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?

😕

 

[anotheruser]

Just FYI for people who had 0MAB icici salary account that got upgraded to wealth management from icici side and have recently received mail for downgrade and maintaining MAB.

Open Imobile - account services - update employer and provide your employer.
Within few hours its should become 0MAB.
For me it took 1-2 hours

 

[abhikbose]

What type of Mutual Fund is considered in the DIV calculation for ICICI Bank wealth management? For example, if I invest in Motilal Oswal using ICICI bank internet banking and from the ICICI bank savings account, will it be considered in DIV, or do I need to invest in some ICICI product like ICICI Prudential Mutual Fund?

 

[Centurion_wala]

What type of Mutual Fund is considered in the DIV calculation for ICICI Bank wealth management? For example, if I invest in Motilal Oswal using ICICI bank internet banking and from the ICICI bank savings account, will it be considered in DIV, or do I need to invest in some ICICI product like ICICI Prudential Mutual Fund?

Yes, you can invest in any of the mutual funds listed in the netbanking and it will be counted in the DIV but beware that those will be regular funds and will have a higher expense ratio than direct funds.

 

[cc_dc_explorer]

Okay, I will explain you the whole scenario in detail:


I recevied the invite to open a WM account from a WM branch.. The invitation contains the following content.. I don't think I got any special terms and conditions here ,.. this is basically a general standard template::

The highlights:

1) No minimum balance requirement for SB account and
2) Complementary Master World DC

The interesting points about the above two highlights is : they are unconditional... there are no strings attached to it.. ( no *, in T&Cs)..

Where as there are other two features that are with T& Cs .. they are:

1) Waiver of joining fees on Saphiro card *
2) free brokerage of up to 29,500 on ICICI direct a/c ** ...

So these two facilities are provided on their respective conditions....

Hope you got my point...



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How to receive this invite ? 😅😅😅