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ICICI Wealth Management Account Holders please share your experience.

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TheTrickySid

TheTrickySid

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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.
 
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I have WM account and it was opened last year with 10L initial funding. Received a mail last month that I'll be downgraded since I havent maintained minimum balance. Called my RM and she asked to ignore it and its a 0 balance account based on my father's HNI status with bank. Butt honestly, I dont see what benefits a WM account brings? I have only been using it as just another SB account.
 
Digita1Err0r said:
I have WM account and it was opened last year with 10L initial funding. Received a mail last month that I'll be downgraded since I havent maintained minimum balance. Called my RM and she asked to ignore it and its a 0 balance account based on my father's HNI status with bank. Butt honestly, I dont see what benefits a WM account brings? I have only been using it as just another SB account.
Click to expand...
WM Pros

Zero bal sb account with high transfer limits 🙂.
Better customer care support.
Also you will get pre approved sapphiro card if you are not already holding any icici cards.
 
Can anyone confirm, I have heard some accounts will be 0 MAB if the linked credit card has some particular minimum credit limit?
for eg. 10L CL for the WM account.
 
hks789 said:
WM Pros

Zero bal sb account with high transfer limits 🙂.
Better customer care support.
Also you will get pre approved sapphiro card if you are not already holding any icici cards.
Click to expand...
Sapphiro LTF seems good but unfortunately I have an amazon pay ICICI card which I got long before I opened WM account.

I thought icici cust care was generally good since for the last 3-4 times I called them, the wait time was insanely low, quick to reach a person from IVR and good resolution as well. Didnt know it was because of WM.
 
imdjay said:
Can anyone confirm, I have heard some accounts will be 0 MAB if the linked credit card has some particular minimum credit limit?
for eg. 10L CL for the WM account.
Click to expand...
I heard that before for 5L limits. Some people got their sb accounts auto upgraded.
But my 13 year old account was never auto upgraded.
Also I am yet to receive the downgrade email although my mab is only 20k and 1L linked FD.
My 10L cc might be a reason why I was spared till now. Not sure
 
Last edited:
Digita1Err0r said:
Sapphiro LTF seems good but unfortunately I have an amazon pay ICICI card which I got long before I opened WM account.

I thought icici cust care was generally good since for the last 3-4 times I called them, the wait time was insanely low, quick to reach a person from IVR and good resolution as well. Didnt know it was because of WM.
Click to expand...
Once I had to spend 7L in a jewellery shop but my apay card was getting blocked every time I swiped above 1L.
Spend almost 2 hours talking to cc(long ivr queues) after each block and 1L swipes each 15 minutes to get through that.
Thats why I wanted wm account and a premium card for hassle free big transactions
 
hks789 said:
Once I had to spend 7L in a jewellery shop but my apay card was getting blocked every time I swiped above 1L
Click to expand...
Have read something similar to this on the forum >> https://www.technofino.in/community...hase-and-to-pay-rs-77k-as-compensation.19022/

Actually, Apay card has an unofficial 10k limit for Cashback. So if you are doing a high value transaction which gets you cashback >10k; they will most probably consider it as a Business transaction and will block your card.

Edit-
hks789 said:
If you can show the invoices which proves personal usage, you should be fine.
Click to expand...
Yeah, know that....
 
Last edited:
talkwithfino said:
Have read something similar to this on the forum >> https://www.technofino.in/community...hase-and-to-pay-rs-77k-as-compensation.19022/

Actually, Apay card has an unofficial 10k limit for Cashback. So if you are doing a high value transaction which gets you cashback >10k; they will most probably consider it as a Business transaction and will block your card.
Click to expand...
They did hold my cashback(~13k) that month. My transactions were personal and I submitted the invoices after which they credited the cb. Card was only temporarily blocked during transactions time.
If you can show the invoices which proves personal usage, you should be fine.
 
deadshot said:
Hello everyone,
A guy came from icici to my home for opeaning WM account, but when he tries to open account from his tab then in the end it says "This account cannot be opend due to certain validations", so he took my signature on bank form and said he would, talk to his senior and inform me later,
so anyone know what could be the problem?
Click to expand...
What happened after that
 
He talked to some of his colleagues and said he cannot oppen my account, and his colleagues said they also tried to open account of 3 - 4 people but the same thing was displayed and they said same thing to their coustomes as well.
 
deadshot said:
He talked to some of his colleagues and said he cannot oppen my account, and his colleagues said they also tried to open account of 3 - 4 people but the same thing was displayed and they said same thing to their coustomes as well.
Click to expand...
Looks like WM is on revamp..

What was your expectations with icici Wm ? Anything u were trying to achieve or get ?
 
anipap said:
What happened after that
Click to expand...

DocFixIt said:
Looks like WM is on revamp..

What was your expectations with icici Wm ? Anything u were trying to achieve or get ?
Click to expand...
No before i knew about WM account, i wanted to open regular savings account and the same thing was showing "certain validation", never tried to open account online and no relationship with icici

And i have some idle money wanted to park in their fds and use wealth account.
 
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