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HSBC Premier Account Alternate

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Nasir

Nasir

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Hello everyone,

I hold a HSBC Non Resident Premier account since quite some time and I am not happy with their services. Within a span of two months, I have been locked out of my funds twice within two months due to some KYC updation issues. Even after completing my KYC, the account gets blocked for transfers. The RM is useless. Phone banking unable to fix it as it can only be done at the branch. Being my primary account and not having access to my own funds is such a shame. I also have a HDFC Preferred account - again without good service.

The first thing I plan to do once it is fixed is to move my funds elsewhere. I am looking for an alternate - could you please suggest which is the best premier alternative for the best customer service, good outward remittance rates for NRI banking?

Most suggested ones in the forum are :

Axis Burgundy
Indusind Pioneer - (This has a service to even pick documents up from outside India. But not sure how good their customer service is.)
ICICI Wealth
IDFC Wealth
Kotak Privy League Platinum

Any personal recommendations?

Thank you in advance.
 
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I would Say My First Choice Is
1) IndusInd Pioneer
- Dedicated Pioneer Branches (In Mumbai,Delhi,Kolkata,Chennai,BLR)
- Almost No Charges Even For non Maintainence
- Perfect Debit Card (0 For Forex Txns)
- Great NRI Services In Pioneer Branches
- But The Issue Is Mobile Banking & Internet Banking Is Imperfect
Second Choice
2) ICICI Wealth
-- Dedicated Wealth Management Branches (In Almost Every City)
-- Zero Balance Account (10l Initial Payment)
-- Zero Charges For Most Services
-- NRI Services Are Ok
 
Last edited:
Nasir said:
Hello everyone,

I hold a HSBC Non Resident Premier account since quite some time and I am not happy with their services. Within a span of two months, I have been locked out of my funds twice within two months due to some KYC updation issues. Even after completing my KYC, the account gets blocked for transfers. The RM is useless. Phone banking unable to fix it as it can only be done at the branch. Being my primary account and not having access to my own funds is such a shame. I also have a HDFC Preferred account - again without good service.

The first thing I plan to do once it is fixed is to move my funds elsewhere. I am looking for an alternate - could you please suggest which is the best premier alternative for the best customer service, good outward remittance rates for NRI banking?

Most suggested ones in the forum are :

Axis Burgundy
Indusind Pioneer - (This has a service to even pick documents up from outside India. But not sure how good their customer service is.)
ICICI Wealth
IDFC Wealth
Kotak Privy League Platinum

Any personal recommendations?

Thank you in advance.
Click to expand...
Try standard chartered premium banking
 
Karvanna said:
I would Say My First Choice Is
1) IndusInd Pioneer
- Dedicated Pioneer Branches (In Mumbai,Delhi,Kolkata,Chennai,BLR)
- Almost No Charges Even For non Maintainence
- Perfect Debit Card (0 For Forex Txns)
- Great NRI Services In Pioneer Branches
- But The Issue Is Mobile Banking & Internet Banking Is Imperfect
Second Choice
2) ICICI Wealth
-- Dedicated Wealth Management Branches (In Almost Every City)
-- Zero Balance Account (10l Initial Payment)
-- Zero Charges For Most Services
-- NRI Services Are Ok
Click to expand...
Thank you @Karvanna
I will send a query to both the banks and see how they respond and decide. Personally I liked IndusInd Pioneer too due to their document pickup service. Hope they can also provide with a good credit card with International lounge access - will solve all my problems and then I can close the HSBC account.
 
Karvanna said:
I would Say My First Choice Is
1) IndusInd Pioneer
- Dedicated Pioneer Branches (In Mumbai,Delhi,Kolkata,Chennai,BLR)
- Almost No Charges Even For non Maintainence
- Perfect Debit Card (0 For Forex Txns)
- Great NRI Services In Pioneer Branches
- But The Issue Is Mobile Banking & Internet Banking Is Imperfect
Second Choice
2) ICICI Wealth
-- Dedicated Wealth Management Branches (In Almost Every City)
-- Zero Balance Account (10l Initial Payment)
-- Zero Charges For Most Services
-- NRI Services Are Ok
Click to expand...
Which all savings accounts do you hold bro??
 
Nasir said:
Thank you @Karvanna
I will send a query to both the banks and see how they respond and decide. Personally I liked IndusInd Pioneer too due to their document pickup service. Hope they can also provide with a good credit card with International lounge access - will solve all my problems and then I can close the HSBC account.
Click to expand...
Karvanna said:
I would Say My First Choice Is
1) IndusInd Pioneer
- Dedicated Pioneer Branches (In Mumbai,Delhi,Kolkata,Chennai,BLR)
- Almost No Charges Even For non Maintainence
- Perfect Debit Card (0 For Forex Txns)
- Great NRI Services In Pioneer Branches
- But The Issue Is Mobile Banking & Internet Banking Is Imperfect
Second Choice
2) ICICI Wealth
-- Dedicated Wealth Management Branches (In Almost Every City)
-- Zero Balance Account (10l Initial Payment)
-- Zero Charges For Most Services
-- NRI Services Are Ok
Click to expand...
Does ICICI wealth have a (DIV) of minimum INR 25 Lakhs? Then it is not an option as I don't want to block my funds again like in HSBC.
 
try dbs treasrures
Nasir said:
Hello everyone,

I hold a HSBC Non Resident Premier account since quite some time and I am not happy with their services. Within a span of two months, I have been locked out of my funds twice within two months due to some KYC updation issues. Even after completing my KYC, the account gets blocked for transfers. The RM is useless. Phone banking unable to fix it as it can only be done at the branch. Being my primary account and not having access to my own funds is such a shame. I also have a HDFC Preferred account - again without good service.

The first thing I plan to do once it is fixed is to move my funds elsewhere. I am looking for an alternate - could you please suggest which is the best premier alternative for the best customer service, good outward remittance rates for NRI banking?

Most suggested ones in the forum are :

Axis Burgundy
Indusind Pioneer - (This has a service to even pick documents up from outside India. But not sure how good their customer service is.)
ICICI Wealth
IDFC Wealth
Kotak Privy League Platinum

Any personal recommendations?

Thank you in advance.
Click to expand...
 
Nasir said:
Does ICICI wealth have a (DIV) of minimum INR 25 Lakhs? Then it is not an option as I don't want to block my funds again like in HSBC.
Click to expand...
No You Need To Intially Fund 10 Lakhs While opening Your Account Thats All
There Are Two Types
-Wealth (10L IP) QAB -Nil
- Wealth Select 25 TRV
Both Are Mostly Same
 
Last edited:
Nasir said:
Hello everyone,

I hold a HSBC Non Resident Premier account since quite some time and I am not happy with their services. Within a span of two months, I have been locked out of my funds twice within two months due to some KYC updation issues. Even after completing my KYC, the account gets blocked for transfers. The RM is useless. Phone banking unable to fix it as it can only be done at the branch. Being my primary account and not having access to my own funds is such a shame. I also have a HDFC Preferred account - again without good service.

The first thing I plan to do once it is fixed is to move my funds elsewhere. I am looking for an alternate - could you please suggest which is the best premier alternative for the best customer service, good outward remittance rates for NRI banking?

Most suggested ones in the forum are :

Axis Burgundy
Indusind Pioneer - (This has a service to even pick documents up from outside India. But not sure how good their customer service is.)
ICICI Wealth
IDFC Wealth
Kotak Privy League Platinum

Any personal recommendations?

Thank you in advance.
Click to expand...
Go for idfc - low maintenance, good customer service, better interest rate and good app.
Or icici- quick customer care, good app and zero balance account.
 
Sorry for hijacking , but my 2 cent. It all depends on how is your RM and branch head in the end. I had bad experience with indusind as well as good one when the manager and RM got changed , i kept my account with minimum balance for few years. This is in the span of 7 year.

Any suggestion folks which banks are providing better and negotiable FX rates for outward remittances
 
daen.kith said:
Sorry for hijacking , but my 2 cent. It all depends on how is your RM and branch head in the end. I had bad experience with indusind as well as good one when the manager and RM got changed , i kept my account with minimum balance for few years. This is in the span of 7 year.

Any suggestion folks which banks are providing better and negotiable FX rates for outward remittances
Click to expand...
dbs bank has good remitance rates
 
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