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.

 

[shutapdiya]

I have a salary account in ICICI bank. Upon my request to Bank via email, they upgraded my account to wealth. But they said since its an upgrade, I won't be receiving on welcome kit (I was more interested in the leather pouch)... I can only raise request for debit card and cheque book. Is this true?

@TechnoFino , please comment

raise a request for cheque book, you will get the pouch along with it

 

[shrewdoc]

But they said since its an upgrade, I won't be receiving on welcome kit (I was more interested in the leather pouch)... I can only raise request for debit card and cheque book. Is this true?

Yes it's true.

raise a request for cheque book, you will get the pouch along with it

No, they don't give for upgrades, only for new accounts. If someone even got for upgrade, they must be lucky.

 

[shutapdiya]

Yes it's true.

No, they don't give for upgrades, only for new accounts. If someone even got for upgrade, they must be lucky.

have you tried?

I think someone on this thread have received it along with cheque book

 

[shrewdoc]

have you tried?

Y e s 🙂

 

[shutapdiya]

Y e s 🙂

to fir nahi milega bhai @vijay.vj

 

[shrewdoc]

Y e s 🙂

Tried via emails first, that too involving Regional Manager somehow 🤣

Also ordered a new chequebook just to test my luck, but only chequebook received 🙃

 

[cardio_guy]

I have a salary account in ICICI bank. Upon my request to Bank via email, they upgraded my account to wealth. But they said since its an upgrade, I won't be receiving on welcome kit (I was more interested in the leather pouch)... I can only raise request for debit card and cheque book. Is this true?

@TechnoFino , please comment

I have the same situation. Have previlege and requested for upgrade. I went to branch and signed a wm account opening form. Gave my aadhar and pan also. Did you do like that? Or was it fully online request?

 

[shrewdoc]

I have the same situation. Have previlege and requested for upgrade. I went to branch and signed a wm account opening form. Gave my aadhar and pan also. Did you do like that? Or was it fully online request?

For upgrades, they don't need anything. It'll be done via an SR and it's completed in 72 working hours usually.

 

[SpiesCan'tCatchMe]

Yeah even I got the mail for downgrade and a call from branch saying, how are you sir....
Plz do some FD's the ROI is 7.1 I said i have FD's giving 8% then he said atleast make a 10k FD. But all this while he never mentioned anything about account downgrade or TRV
PS: i maintain 0 funds and check my cibil daily on imobile

 

[DarthYoda]

My new 'Service RM" came and visited me at my home...
Got the papers signed for my OD closure..
Asked him about WM downgrade and Private metal...
1) WM downgrade has started happening now and a minimum TRV of 5 lakhs and above will be safe..
2) Private Metal is purely on invite basis only as of now, the eligibility criteria is same as the current emeralde..

As my account will be 1 year old in this month with 20L TRV, I asked him to look into Wealth Select Upgrade.. he said he would try in the coming months..
My Private Metal request, he promised me to pursue after 6 months.. by that time he would know how things work..

One interesting comment he made.. ICICI goes purely by " profit motive" in conducting their business where as HDFC has a bit relaxed work environment in this perspective.
He had earlier worked for HDFC..

PS: It seems 'Service RM' is a one step above regular RM... Not sure how true it is... He says he processes all the requests of the regular RMs..

Above 5l is what i said earlier and now you confirmed.
Of all the lies they told me this was somewhat legit😅😂

 

[RadioactiveTabela]

Take a look at this thread

Premium Bank accounts to collect (usually with 0mab)

Planning to collect bank accounts as well? Here are all the accounts you should look into. 0 MAB accounts will be added at the botton, because then it's not a collection, is it? salary accounts not included yet - since they get 0 MAB pretty much everywhere except SC I guess🤔 Do let me know if...

www.technofino.in

I tried applying for Legend + Select Account combo on Indusind website. Picked indusind because a branch is bang opp. my house.

I was offered only Platinum CC and Aura Edge CC as LTF with 30k limit. I forgot which one I picked, both looked equally useless. I picked one randomly because LTF + indus merchant discounts. But then portal also offered me a 0 MQB Indus Advantage savings account: https://www.indusind.com/content/dam/indusind-corporate/Other/SoC-Indus-Advantage.pdf

If CC issue + account opening is smooth enough, I'm moving my business from ICICI WM to Indus Advantage.

 

[vijay.vj]

to fir nahi milega bhai @vijay.vj

Sad to know, I kinda asked for update just for that pouch.... Didn't find anything else interesting... other then family banking to make their account 0 balance.

Any other good benefits I'm missing?

 

[vijay.vj]

I have the same situation. Have previlege and requested for upgrade. I went to branch and signed a wm account opening form. Gave my aadhar and pan also. Did you do like that? Or was it fully online request?

Nope... mine was fully online... just 2-3 exchanges of emails.

Mine was salary account created in 2017. My current RM isn't much helpful with regular services, forget about taking his help for upgrade.

I sent email to "HEADWEALTHMGMENT /PBSERV/IBANK/HYD <headwealthmanagement@icicibank.com>" requesting for upgrade, which they denied.


I sent another email mentioning my total income as per FY 22-23, they requested for ITR which I shared with them. They confirmed about the upgrade as an exception.

 

[vijay.vj]

My new 'Service RM" came and visited me at my home...
Got the papers signed for my OD closure..
Asked him about WM downgrade and Private metal...
1) WM downgrade has started happening now and a minimum TRV of 5 lakhs and above will be safe..
2) Private Metal is purely on invite basis only as of now, the eligibility criteria is same as the current emeralde..

As my account will be 1 year old in this month with 20L TRV, I asked him to look into Wealth Select Upgrade.. he said he would try in the coming months..
My Private Metal request, he promised me to pursue after 6 months.. by that time he would know how things work..

One interesting comment he made.. ICICI goes purely by " profit motive" in conducting their business where as HDFC has a bit relaxed work environment in this perspective.
He had earlier worked for HDFC..

PS: It seems 'Service RM' is a one step above regular RM... Not sure how true it is... He says he processes all the requests of the regular RMs..

Never heard about service RM.

Can someone help me on getting a service RM assigned or check who is my service RM?

 

[SSV]

Never heard about service RM.

Can someone help me on getting a service RM assigned or check who is my service RM?

If you are a WM customer, call this number.. it will get connected to your RM..

+91 22-44400000

 

[vijay.vj]

If you are a WM customer, call this number.. it will get connected to your RM..

+91 22-44400000

I'm in contact with my RM. But from what I see in my reply to original post.. service RM seems to be different from RM (who is mostly a fresher or 1-2 years exp sales personal).. where as service RM seems to be more knowledgeable.

 

[cardio_guy]

If you are a WM customer, call this number.. it will get connected to your RM..

+91 22-44400000

Thanks for this.

 

[quino]

I'm in contact with my RM. But from what I see in my reply to original post.. service RM seems to be different from RM (who is mostly a fresher or 1-2 years exp sales personal).. where as service RM seems to be more knowledgeable.

do let us know of your experience with service rm. im really excited to hear this for some reason, and am looking forward to parallels in other banks like idfc etc

 

[SSV]

I'm in contact with my RM. But from what I see in my reply to original post.. service RM seems to be different from RM (who is mostly a fresher or 1-2 years exp sales personal).. where as service RM seems to be more knowledgeable.

The way I see it ...
We get assigned a RM and it happened to be Service RM for me.. I don't think we get to choose which one we want..
It happened to come to know accidentally during our conversation in our first meeting a few days ago..
In fact, he had processed my request for OD closure the next day .... it seems this bloke processes all the SRs collectively gathered by all normal RMs..

 

[vijay.vj]

do let us know of your experience with service rm. im really excited to hear this for some reason, and am looking forward to parallels in other banks like idfc etc

With respect to ICICI bank,

I only have experience with my regular RM... Who just want to give me personal loans, term insurance, car loan or something...
From what I heard, they have monthly targets to reach x amount personal loan, home loan, credit card, insurances...
And they will be given a big list of customers, whom they have to reach out and do sales...

RM is just another name of entry level sales personal, but can connect you with other sales personal in areas of concerns. If they can get us in touch with actual people who work in bank, that would be great. Many times I felt like they guided me wrong.

As for IDFC, my RM seems a senior and knows what she is talking.
Kinda stalks my account officially as part of job, and I receive a call whenever there is money deposited.

Tried to sell me loan products, insurance and stuff like that.