ICICI Wealth Management Account Holders please share your experience.

[TheTrickySid]

What's the MAB you guys maintaining in your Wealth management account.

And what's would be the ideal mab to prevent it from getting downgraded.
Or any tips to avoid getting the account downgraded without maintaining mab.

 

[pprakash11]

I am not able to see even RM details in imobile app of my wealth management account 😂

Here my RM is always on leave when I need

 

[Nobody]

Not sure if it is a norm, or I am just plain lucky with regard to WM accoun service quality...

Yesterday, I have asked my RM to find out the criteria about LTF emeralde CC. I only have 25 lakhs NRV ( knowing that I won't get it), just want to know his response

Today, RM took appointment to meet me at my house on the advice of BM.

Both BM and RM met me at my residence and explained all Wealth features. This is the first time BM met me.
Regarding Emeralde LTF, he mentioned the usual criteria.
For NRV 1 Cr, FYF Emeralde
For NRV 2 Cr, LTF Emeralde..
The interesting point here is, we can withdraw all the funds once we got LTF Emeralde.
I didn't push for it as I don't require it now, but with some persistence, I feel I can get LTF Emeralde with 1 Cr NRV by just keeping those funds for 2 weeks.
Will try that later when I need it...

The part I like the most about ICICI WM account is
Form the inception of getting invite to open WM a/c with just Apay 6.4 L relationship to till now ( about 9 months) I never visited branch. RM came to my house every time there is a need of physical presence (about 6 times). Today BM also came on his own to introduce himself and asking me to contact him directly if need arises... All of these guys are professional and courteous.
So all my banking needs are done either by phone or by RM visiting me.. I am impressed . They are doing whatever they could promptly without any delay...

On the other hand, I started my journey with HDFC (preferred account) recently. Not much impressed initially but getting better occassionally. Today RM visited me and said he would try my core HDFC CC (first HDFC CC) fromhis portfolio quota to get a better CC with better LE, currently I am getting Money back CC offer. will be able to assess HDFC premium banking service in the coming 6 months..

Can you confirm i have a savings max account with easyshop platinum dc. Since i am in preferred banking now i am thinking of getting platinum dc with preferred logo. In future if hdfc decide to downgrade me will i be charged for preferred platinum dc?

 

[SSV]

Can you confirm i have a savings max account with easyshop platinum dc. Since i am in preferred banking now i am thinking of getting platinum dc with preferred logo. In future if hdfc decide to downgrade me will i be charged for preferred platinum dc?

Yes, you will be charged for platinum DC if you are not a preferred program member.. But it is highly unlikely they will downgrade your account if you atleast maintain the required MAB intermittently, not needed to be contiguous... the annual fee is waived for Imperia, Preferred and Classic customers..
So it is free until Classic layer..

 

[Nobody]

Yes, you will be charged for platinum DC if you are not a preferred program member.. But it is highly unlikely they will downgrade your account if you atleast maintain the required MAB intermittently, not needed to be contiguous...

Ok then I will not order new dc. But technically my current dc is also easyshop platinum which is free for savings max account. So they would charge 750 plus gst for only preferred logo since rest it would be same with same benefits.

 

[pprakash11]

Ok then I will not order new dc. But technically my current dc is also easyshop platinum which is free for savings max account. So they would charge 750 plus gst for only preferred logo since rest it would be same with same benefits.

Clearing your confusion brother:

Savings Max DC(Easy Shop Platinum)= Classic Logo DC= Preferred Logo DC = Imperia Logo DC

All DC are equal with same features( Visa Platinum) just different logo.

Since your base account is Savings Max in which Visa Platinum DC is free for lifetime, getting downgraded from your preferred you will land up to classic or lowest to savings max only.

You will never be charged for your DC.
You can request for preferred logo Vida Platinum DC eye closed.

There are no charges as such for getting the logo wala DC.

I hope this clarifies your doubt.

Yes, you will be charged for platinum DC if you are not a preferred program member.. But it is highly unlikely they will downgrade your account if you atleast maintain the required MAB intermittently, not needed to be contiguous... the annual fee is waived for Imperia, Preferred and Classic customers..
So it is free until Classic layer..
View attachment 21133

Not true. Explained above.

 

[SSV]

Not true. Explained above.

Thanks for clarifying. I am relatively new to HDFC and going by the book...

 

[pprakash11]

Thanks for clarifying. I am relatively new to HDFC and going by the book...

No issues 😃

Whatever written in screenshot is true, I just provided extra info which isn't there !!

 

[SpiesCan'tCatchMe]

Wealth management ac is a zero balance ac right?
I moved all my initial funding to a different ac and kept like 100/- in wm ac. I got a call from branch saying to maintain some balance as it's wealth management. What should I do?

 

[pprakash11]

Wealth management ac is a zero balance ac right?
I moved all my initial funding to a different ac and kept like 100/- in wm ac. I got a call from branch saying to maintain some balance as it's wealth management. What should I do?

I too received. I transferred some funds and then will debit again on 1st July.
Basically it's month end and they need to have their targets

 

[kishorvr]

I

You got wealth management because of your CC limit In ICICI If your cc have limit of 3L+ you get privileged status. And if your cc have limit of 5L+ you get wealth management status.

have 2.5 Lakhs. My dashboard says wealth management. On the website, it says that limit qualifies for privilege banking. What does that mean?

 

[SpiesCan'tCatchMe]

I too received. I transferred some funds and then will debit again on 1st July.
Basically it's month end and they need to have their targets

So there's no harm in keeping low balance right?

 

[pprakash11]

Exactly

So there's no harm in keeping low balance right?

No harm

 

[kochiro]

Exactly

No harm

Who will downgrade your ac?

I too received. I transferred some funds and then will debit again on 1st July.
Basically it's month end and they need to have their targets

How much is sufficient?

 

[pprakash11]

Who will downgrade your ac?

May be system, but in general ICICI doesn't downgrades.

How much is sufficient?

Depends. I deposited 5L bcz I had that liquid. It may vary, also next time I'm not gonna update 🤣

 

[SpiesCan'tCatchMe]

I deposited 1111/- amount 😂😂.

 

[SSV]

Wealth management ac is a zero balance ac right?
I moved all my initial funding to a different ac and kept like 100/- in wm ac. I got a call from branch saying to maintain some balance as it's wealth management. What should I do?

You can check if your WM account is 0 balance or not in NetBanking like below:

In Net banking , Click on your SB account.. Account Details page appears, under balance details, you should see you MAB required:



Today is not only month end, it is also 1st quarter end. So, if you could keep some money like about 1lakh for a couple of days, you won't get any call, I suppose.

Banks will have to report quarterly performance to the Stock exchanges, so CASA deposits amount have its significance.

 

[SpiesCan'tCatchMe]

Yes it's showing 0 amb

You can check if your WM account is 0 balance or not in NetBanking like below:

In Net banking , Click on your SB account.. Account Details page appears, under balance details, you should see you MAB required:

View attachment 21318

Today is not only month end, it is also 1st quartes end. So, if you could keep some money like about 1lakh for a couple of days, you won't get any call, I suppose.

Banks will have to report quarterly performance to the Stock exchanges, so CASA deposits have its significance.

 

[SSV]

Yes it's showing 0 amb

Then your account won't be downgraded. It is just to keep a good relationship with your branch, have some balanceat the end of every quarter for a couple a of days. Then your RM and BM will be happy.

 

[D7162]

I am not able to see even RM details in imobile app of my wealth management account 😂

Same here

 

[SSV]

Same here

You could email to this, and ask for your RM details or ask your RM to contact you..
headpreviligebanking@icicibank.com

Correction: headwealthmanagement@icicibank.com