How many bank accounts do you have and for what purposes?

[raghavx]

I hold following bank accounts

1. ICICI Bank (Savings) - For salary crediting and investments
2. IDFC First Bank (Savings) - for savings purposes, it gives good rate of interest.
3. DBS - Idk why I am still holding this.
4. Paytm Payments Bank - Had opened it long back, not sure why I am holding this too.
5. Fi.money - For day to day transactions as my primary savings account would get cluttered with few hundred rupees transactions.
6. Jupiter - Had opened alongside with Fi, thinking to close this.

 

[gowthamv]

Which bank has the lowest UPI failure rate?

 

[TheTrickySid]

Which bank has the lowest UPI failure rate?

Paytm according to me

 

[Trust Me]

Which bank has the lowest UPI failure rate?

This question can't be answered meaningfully by any individual, -- there are just not enough data points to be statistically significant.

For example, I've done scores of transactions with Amazon Pay UPI so far, with a 100% success rate! The engine underneath is from Axis. So I might legitimately claim a zero failure rate for either. -- Others may disagree, based on their own experiences.

A poll may very well tilt towards Paytm, albeit only because they have a lion's share of the market, and people have mostly positive experiences.

Just pick one of the favored ones, and experience for yourself.

I wonder if anybody publishes a statistically meaningful report in this regard.

 

[AritraSaha]

Which bank has the lowest UPI failure rate?

Paytm payment bank.(99.2%)
Npci monthly public the data. Can check their website.
And ippb have the lowest.(60%) .lol

 

[mudit.sharma]

ICICI : Wealth Management- Oldest and First Account- Earlier used for pocket money I used to get from my parents during college days. Now, I used it for PPF and FDs.
IDFC : Wealth- Emergency funds of 9 month
HDFC : Imperia- Main account, Salary account and Investment account
SBI: Silver- No use now. Opened during college to pay its fees.

Axis: I need suggestion. Which account is good? I want to park my emergency fund of 3 months. Do you recommend any other bank for same?

I use AU bank. But keeping more than 1 lakh as MAB get me au royale account status and au royale debit card. You can check the details once.

 

[RadioactiveTabela]

Which bank has the lowest UPI failure rate?

 

[KingAAR]

I have
1.Jupiter
2.SBI basic account without branch visit(YONO)
3.Fi
4.SBM
5.AU digital savings account
6.NiyoX
7.INDIE
8.Fincare 101 basic

 

[gowthamv]

This question can't be answered meaningfully by any individual, -- there are just not enough data points to be statistically significant.

For example, I've done scores of transactions with Amazon Pay UPI so far, with a 100% success rate! The engine underneath is from Axis. So I might legitimately claim a zero failure rate for either. -- Others may disagree, based on their own experiences.

A poll may very well tilt towards Paytm, albeit only because they have a lion's share of the market, and people have mostly positive experiences.

Just pick one of the favored ones, and experience for yourself.

I wonder if anybody publishes a statistically meaningful report in this regard.

Yeah you are right. It's purely based on individual's personal opinion.

But, I have observed, most of the PSU bank's such as IOB, PNB etc.. has some high failure rates (i.e. the amount gets stuck between sender and receiver and comes back after 1-2 days).

So just wanted to know which banks can be avoided when doing a high value UPI transaction.

 

[gowthamv]

View attachment 22863

What is BD% and TD% ?

 

[RadioactiveTabela]

What is BD% and TD% ?

• Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
• Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.

 

[agentneo]

I use AU bank. But keeping more than 1 lakh as MAB get me au royale account status and au royale debit card. You can check the details once.

I appreciate your suggestion but I'm not familiar with AU Bank. I hope you don't mind me asking a few basic questions:

• Is AU Bank considered secure? Specifically, can we expect it to remain stable and operational for at least the next decade?
• Could you share some of the advantages you've experienced as an AU Royale account holder?
• Are there any benefits pertaining to safe deposit lockers? I've been on a quest to find one in an area like Noida for the past year but it appears they're all occupied by affluent individuals/families.

 

[mudit.sharma]

I appreciate your suggestion but I'm not familiar with AU Bank. I hope you don't mind me asking a few basic questions:

• Is AU Bank considered secure? Specifically, can we expect it to remain stable and operational for at least the next decade?
• Could you share some of the advantages you've experienced as an AU Royale account holder?
• Are there any benefits pertaining to safe deposit lockers? I've been on a quest to find one in an area like Noida for the past year but it appears they're all occupied by affluent individuals/families.

1. Yes, it is safe. I am having account with them since 2018. I have not upgraded tier to AU royale yet, in discussion with BM as I am pushing them to give me Zentih CC. Heard some people got it. But nonetheless, I am already maintaining >1lac deposit that is required for royale.
In short, yes it is safe. But as a precautionary step till you get faith on them keep deposit <5 lakh as it is insured.
2. Yes there are good advantage specially if you consider only 1 lakh MAB is required for Au royale. For details refer official site.

https://www.aubank.in/premium-banking/savings-account/au-royale

3. Yes they provide 75% discount, personally I didn't require locker from them so haven't availed this facility but you can check.

 

[Trust Me]

I appreciate your suggestion but I'm not familiar with AU Bank. I hope you don't mind me asking a few basic questions:

• Is AU Bank considered secure? Specifically, can we expect it to remain stable and operational for at least the next decade?
• Could you share some of the advantages you've experienced as an AU Royale account holder?
• Are there any benefits pertaining to safe deposit lockers? I've been on a quest to find one in an area like Noida for the past year but it appears they're all occupied by affluent individuals/families.

1. Yes, it is safe. I am having account with them since 2018. I have not upgraded tier to AU royale yet, in discussion with BM as I am pushing them to give me Zentih CC. Heard some people got it. But nonetheless, I am already maintaining >1lac deposit that is required for royale.
In short, yes it is safe. But as a precautionary step till you get faith on them keep deposit <5 lakh as it is insured.
2. Yes there are good advantage specially if you consider only 1 lakh MAB is required for Au royale. For details refer official site.

https://www.aubank.in/premium-banking/savings-account/au-royale

3. Yes they provide 75% discount, personally I didn't require locker from them so haven't availed this facility but you can check.

A cursory look suggests that an IndusInd Select account (with 50k AQB, or free with a Legend CC) would be a better choice (except for less discount for a locker). IndusInd is a much larger bank as well.

 

[Patil007]

I hold following bank accounts

1. ICICI Bank (Savings) - For salary crediting and investments
2. IDFC First Bank (Savings) - for savings purposes, it gives good rate of interest.
3. DBS - Idk why I am still holding this.
4. Paytm Payments Bank - Had opened it long back, not sure why I am holding this too.
5. Fi.money - For day to day transactions as my primary savings account would get cluttered with few hundred rupees transactions.
6. Jupiter - Had opened alongside with Fi, thinking to close this.

My purpos to open multiple bank account is to get LTF card of that bank.

But there was another use case to hide income or transactions from Income Tax department, but now all your bank accounts are getting reflected on AIS portal irrespective of you declare that account or not .

Once I get the card I prefer to close saving account.

 

[Trust Me]

now all your bank accounts are getting reflected on AIS portal irrespective of you declare that account or not.

Anybody here has any POSB accounts? I was forced to open one when I wanted to purchase NSC.

This account didn't have any IFSC associated with it (no NEFT etc. was possible)! So I couldn't include it in my ITR.

This year's TIS/AIS has this account information (but nothing about the NSCs! I'd been reporting the interest income anyway).

I don't hide anything in my ITRs. So is there a way now to include this POSB account information also in the ITR? Are there some threads with relevant discussions? Thanks.

 

[Patil007]

Anybody here has any POSB accounts? I was forced to open one when I wanted to purchase NSC.

This account didn't have any IFSC associated with it (no NEFT etc. was possible)! So I couldn't include it in my ITR.

This year's TIS/AIS has this account information (but nothing about the NSCs! I'd been reporting the interest income anyway).

I don't hide anything in my ITRs. So is there a way now to include this POSB account information also in the ITR? Are there some threads with relevant discussions? Thanks.

I am not sure

 

[Trust Me]

I am not sure

That's okay .

Actually the query was not directed towards you in particular, but to the general audience. The excerpt from your post just happened to be relevant.

 

[Patil007]

That's okay .

Actually the query was not directed towards you in particular, but to the general audience. The excerpt from your post just happened to be relevant.

Yes.

 

[AritraSaha]

Anybody here has any POSB accounts? I was forced to open one when I wanted to purchase NSC.

This account didn't have any IFSC associated with it (no NEFT etc. was possible)! So I couldn't include it in my ITR.

This year's TIS/AIS has this account information (but nothing about the NSCs! I'd been reporting the interest income anyway).

I don't hide anything in my ITRs. So is there a way now to include this POSB account information also in the ITR? Are there some threads with relevant discussions? Thanks.

My mom has post office account,

1. NEFT is possible (via net banking/ mobile banking)
2. Can't tell you about ITR. Sorry...

 

[Trust Me]

My mom has post office account,

1. NEFT is possible (via net banking/ mobile banking)
2. Can't tell you about ITR. Sorry...

Is it a POSB account (NEFT wasn't possible, IFSC wasn't available, no app), or an IPPB account (NEFT and mobile banking possible)?

If the former, would it be possible for you to find out for how long NEFT has been working? Is the IFSC mentioned on the cheques and the passbook? If such facilities have been made available recently, the relevant news/notification has escaped me. Thanks.