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ICICI IMobile app shows Wealth Management for 3 credit card!! Possibility for a 0 balance account?

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varunsridharan

varunsridharan

TF Premier
Verified User
I have been utilizing Amazon Pay for the past 11 months, having a limit of 4.6 lakh. A few days ago, I made the decision to upgrade to a platinum card with a shared limit, and my request was approved within a day. Shortly after, I also requested a coral Rupay card, and it was approved within a few hours after my platinum card approval.

Upon receiving both cards, I noticed that the ICICI mobile app theme changed to black and displayed "Wealth Management." Does this imply that I am eligible for a wealth management account with a zero balance requirement?
 
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xxScriptzxx said:
I also see the black theme and icici wealth management written on app. I just hold amazon pay and platinum card with some 15 lakhs limit. What are the next steps to open a wealth management bank account ? @ssv ?
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You can wait for your local WM RM to contact you based on your CC address.I think they will contact the eligibile customers periodically. If you can't wait, you can contact your local branch about this WM account. Make sure you don't look like desperate. They need you as much as you need that account. Show some subtle authority as a customer. You can be polite as well as authoritative the at same time
All the best
 
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sauravkumar said:
Bhai Aisa kya bol diya??😳😳😳
Jo itni aasani se Maan gye...

Saala hmari baat toh koi nhi sunta!!😁😁
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When that person said i need to write a cheque for 1L as initial funding i quickly stopped him and said no i am not interested and said thank you for your time

And after few minutes i got a call back and we spoke regarding the same and i said i can't give 1L via cheque any other options? (Thinking i can use my rupay card funds) and they agreed to create a account later in that day i will transfer 1L via NEFT or imps

That's it we both are happy and today i will be submitting the documents
 
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ssv said:
Well done mate, Kudos to your persistence and exemplary negotiation skills , I would say...
Good news is that you got WM account. Welcome to the club... Cheers
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Well

Today i was about to finalize the process of wealth savings account opening but suddenly BM Dropped a info that made me stop it until it gets clarified

He said that even tho it's 0 Balance savings account yet i need to maintain 50K per month to avoid Minimum Average Balance Charges but for the first year i will not be charged from 2nd year it will be chargeable which is quite confusing to me
 
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jack333 said:
If its zero mab it will remain the same
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Just to be clear

Wealth Management Banking Products, ICICI Savings Account, My Savings Rewards

ICICI Wealth Management brings to you a Savings Account that delights you with rewards, security and ease of banking. Visit here to find out more about features, services and rewards that come with our Savings Account.
www.icicibank.com www.icicibank.com

This is the account i am talking about and it's shows as 0 balance account

varunsridharan said:
Well

Today i was about to finalize the process of wealth savings account opening but suddenly BM Dropped a info that made me stop it until it gets clarified

He said that even tho it's 0 Balance savings account yet i need to maintain 50K per month to avoid Minimum Average Balance Charges but for the first year i will not be charged from 2nd year it will be chargeable which is quite confusing to me
Click to expand...
Also the same BM said icici dose not offer 0 balance account
 
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varunsridharan said:
Well

Today i was about to finalize the process of wealth savings account opening but suddenly BM Dropped a info that made me stop it until it gets clarified

He said that even tho it's 0 Balance savings account yet i need to maintain 50K per month to avoid Minimum Average Balance Charges but for the first year i will not be charged from 2nd year it will be chargeable which is quite confusing to me
Click to expand...
After opening the SB account, under account details if you see this, then in all likelyhood it is 0 MAB LTF.
1686733705806.png

The thing here is, as you have negotiaited with him about the initial 1 L funding (to be arranged later), he may want you to maintain 50K, is my guess..
He is wrong in saying that ' there is no 0 MAB account'.(as we are all having it).

Put it in another way, what did he say intially when he agreed for WM with 1 lakh intial funding( I am assuming he would have said that it would be 0 MAB).
As soon as you said you would fund intial 1 L later, he changed his words. Is this what happened??

So here there are two options:
1)
Just open the WM account initially as it is free for first year, then check the account details like above, if it says 0 MAB then it would be LTF ..., there won't be any charges from next year,
2) Open with 1 L initial cheque, and confirm with him if it is 0 MAB..

I believe option1 is worth try..
 
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varunsridharan said:
Not sure they said it will be activated in 1 day and welcome kit will be delivered in 1 week. But i put on hold due to incorrect information provided by bank manager
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This is normal, if welcome kit is deliverd later after a week, all the items inside the kit will be personalised..
 
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ssv said:
After opening the SB account, under account details if you see this, then in all likelyhood it is 0 MAB LTF.
View attachment 19781

The thing here is, as you have negotiaited with him about the initial 1 L funding (to be arranged later), he may want you to maintain 50K, is my guess..
He is wrong in saying that ' there is no 0 MAB account'.(as we are all having it).

Put it in another way, what did he say intially when he agreed for WM with 1 lakh intial funding( I am assuming he would have said that it would be 0 MAB).
As soon as you said you would fund intial 1 L later, he changed his words. Is this what happened??

So here there are two options:
1)
Just open the WM account initially as it is free for first year, then check the account details like above, if it says 0 MAB then it would be LTF ..., there won't be any charges from next year,
2) Open with 1 L initial cheque, and confirm with him if it is 0 MAB..

I believe option1 is worth try..
Click to expand...
Well i said i can't give cheque but i will transfer 1L via UPI in 5hrs of account opening and never negotiate with initial funding they said need 1L to open i just negotiate with how i transfers funds to it
 
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Today i again spoke to the branch manager
And i informed him that i decided to open icici wealth savings account just because i got access to it in the mobile app

But his reply is like there is nothing like such anybody can open a wealth savings account with 1L funding it's not a invite based account


If that's true then what's the use of it and why icici app changed after getting 3 cards from them 🤔🤔🤔🤔🤔🤔

varunsridharan said:
Today i again spoke to the branch manager
And i informed him that i decided to open icici wealth savings account just because i got access to it in the mobile app

But his reply is like there is nothing like such anybody can open a wealth savings account with 1L funding it's not a invite based account


If that's true then what's the use of it and why icici app changed after getting 3 cards from them 🤔🤔🤔🤔🤔🤔
Click to expand...
@ssv 👆
 
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ssv said:
I think , there is no harm in contacting the same person who contacted you before. It seems something was triggered to make you as WM customer. You can find out with him or twitter, gently asking for the status.

I too got 0 balance WM account offer with just APay cc with 6.4 lakh limit.
All the best
Click to expand...
I too only had ICICI apay card with 6.2lac limit.. how can I approach to get wealth management account.. can u guide plz 🙏
 
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card_enthusiast said:
I too only had ICICI apay card with 6.2lac limit.. how can I approach to get wealth management account.. can u guide plz 🙏
Click to expand...
Please refer to my post.

ICICI IMobile app shows Wealth Management for 3 credit card!! Possibility for a 0 balance account?

Just did that and they agreed to do so And i will be deposit funds after account creation I also see the black theme and icici wealth management written on app. I just hold amazon pay and platinum card with some 15 lakhs limit. What are the next steps to open a wealth management bank account ...
www.technofino.in www.technofino.in

And also please check all my posts regarding this topic. You will find a lot of information. You can ask specific questions , if you still have any.
 
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varunsridharan said:
Today i again spoke to the branch manager
And i informed him that i decided to open icici wealth savings account just because i got access to it in the mobile app

But his reply is like there is nothing like such anybody can open a wealth savings account with 1L funding it's not a invite based account


If that's true then what's the use of it and why icici app changed after getting 3 cards from them 🤔🤔🤔🤔🤔🤔


@ssv 👆
Click to expand...

One thing I want to ask you: Is your branch manager being consistent in whatever he is saying about WM account? IF so just go along with him, If not, don't believe him and try not to waste time anymore. Every situation is different and unique, we should adopt to the situation to get our things done successfully. No point in arguing why this, why not that?? We should find whatever works for us !!

See, they have offered you to promote you to WM soley based on your CC profile subject to the conditions in opening the SB account. It is a kind of a perk, you have to be tactical in getting that done by fulfilling both yours and his condtions. We can't complain about perks... Can we??

Technically, WM is not a invite based. According to ICICI, NRV 25 lakhs entitles you to get a WM account. It seems the BM has discretionary powers to alter this NRV conditions based on many unknwon internal policies which may vary branch to branch ...Simple... Don't fret about it. Have fun and enjoy life..
 
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