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.

 

[AritraSaha]

ya, it is automatic backend system trigger, but trying to find trigger point.

No trigger point..
Probably they are starting the downgraded account with some random account

 

[mgforce]

No trigger point..
Probably they are starting the downgraded account with some random account

Can't believe it is random.

They would have 1000s of Wealth Account.

 

[Deleted member 11974]

trigger point haina
balance transfer of floating loans is at all time high
banks are eating each others buisness for 50 bps
isme agar asset book kam hote jaayega and deposits utne hi rahe to profit kaha se aayega
they need a cow to milk and a chicken to lay eggs
ya to mehenge me loan becho ya saste mein deposit uthao
ab dono milne ka time gaya

 

[_ayush]

Did anyone get downgraded from WM. If yes does the debit card still work or it will be closed?

 

[Deleted member 11974]

the downgrade will happend from 30th november
and a new dc might be sent

 

[SSV]

@S S V - Many folks have got downgrade warnings in last few weeks if DIV not met.

It was in Aug. Not sure of a/c type but I was asked to maintain min MAB of 10K

You are the first person who confirmed the actual downgrade.. Until now, only warnings and not actual downgrade..

 

[_ayush]

I have a loan with hdfc whose emi mandate is on that dc. Its there any way to change it?

 

[Akashn]

It was in Aug. Not sure of a/c type but I was asked to maintain min MAB of 10K

The accounts are back to WM now and into a family grouping. Will see next year end when FDs mature and I take out funds 🙂

What happened to wealth dc when you got downgraded?

 

[thanix]

Did anyone get downgraded from WM. If yes does the debit card still work or it will be closed?

Generally banks don't change debit cards. Upon downgrade, they may add thd fees if you are having higher variant in the yearly time frame. You can request to close and opt for appropriate free debit card to that Account anytime.

 

[mgforce]

What happened to wealth dc when you got downgraded?

For me, within 15-25 days, I was able to get upgraded.

Didn't notice any charges for DC in this period.

 

[SSV]

As I said before, I got a new RM recently..
My earlier RM was very good and he visited my home about 6 times for all my banking needs. I never visited branch including for my account opening.

Now I need to close my OD on FD, this I can’t do online, where as the same functionality is available in HDFC net banking.
Initially he has sort of indicated me to visit branch.
Upon my way of talking, he is now visiting my home to get the forms signed for OD closing.
Luckily with this RM also I will make him to do home banking from my doorsteps..
So tomorrow I will ask him more about this WM downgrade and Metal Card and see what he says…

 

[D₹V]

As I said before, I got a new RM recently..
My earlier RM was very good and he visited my home about 6 times for all my banking needs. I never visited branch including for my account opening.

Now I need to close my OD on FD, this I can’t do online, where as the same functionality is available in HDFC net banking.
Initially he has sort of indicated me to visit branch.
Upon my way of talking, he is now visiting my home to get the forms signed for OD closing.
Luckily with this RM also I will make him to do home banking from my doorsteps..
So tomorrow I will ask him more about this WM downgrade and Metal Card and see what he says…

Wow. Keep us posted.

 

[DarthYoda]

Today bm and rm visited my home and they told due to internal circular, now they can't continue WM account if one don't maintain atleast 25%trv of required value, they want for average 50% but still 30-35% will also suffice for time being, as my account was not opened due to some "backend😂" problem, so i told them I'll not open.
P. S He told that many wm account holders are abusing as not even maintaining 3 digits balance.

 

[SSV]

He told that many wm account holders are abusing as not even maintaining 3 digits balance

This is correct and need to be corrected and whatever they are doing now is right thing to do , otherwise no value in holding WM account

 

[D₹V]

Today bm and rm visited my home and they told due to internal circular, now they can't continue WM account if one don't maintain atleast 25%trv of required value, they want for average 50% but still 30-35% will also suffice for time being, as my account was not opened due to some "backend😂" problem, so i told them I'll not open.
P. S He told that many wm account holders are abusing as not even maintaining 3 digits balance.

Baat to sahi kahi unhone 😳

 

[DarthYoda]

This is correct and need to be corrected and whatever they are doing now is right thing to do , otherwise no value in holding WM account

Other than cibil, there was no value.
But yeah that was right thing but still there should be minimum criteria as 25l is bit much in contrast to the services they provide.
even 5l is too much for this.

 

[D₹V]

Other than cibil, there was no value.
But yeah that was right thing but still there should be minimum criteria as 25l is bit much in contrast to the services they provide.
even 5l is too much for this.

Wo to bina wealth ke bhi milta free CIBIL score 🥱

 

[SSV]

Wo to bina wealth ke bhi milta free CIBIL score 🥱

This is also correct.. we can get free CIBIL at a few places these days

 

[D₹V]

This is also correct.. we can get free CIBIL at a few places these days

Even I get on iMobile 🙈

 

[DarthYoda]

Baat to sahi kahi unhone 😳

Ha pr kam se kam open to krte, downgrade hota tb hota.
Ab ek faltu ka chakr dd bnwakr tranfer lena pdega. They should have told me before hand, ip lene k time toh ha sir main ghar ata hu kal open krne.