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Looking for an expense only account (more details below)

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K

kaykayporty

TF Select
I've been looking to simplify my expenses by having one source of outgoing expenses. I currently have SBI (for investments) and HDFC (for salary).

What I'm looking for is a third bank account for expenses only. Part of the money from my salary account would move here every month.

Features I want:
1. Autopay for CC (all CC even not bank CC)
2. Ease of opening online and subsequently no need to visit branch. Ever.
3. The home branch concept is stupid and absurd and it should not have that.
4. Reliable and fantastic desktop and mobile banking experience. No middle of the day maintenance windows.
5. (hopefully) zero spam. I don't want calls or upselling or cross selling.
6. 24 hours support in case something happens.
7. I have no problem maintaining up to 10,000 MAB. As long as it is not limiting my banking experience. I would be crediting 70-80K each month for expenses.

I'm considering ICICI, Kotak (idk if I should pick 811 or normal) and IDFC First bank account. I'm open to other options. Please provide detailed feedback.
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I do not care about offers or anything unnecessary. This is an expense account and this is what it should be. No credit card from this bank necessary (unless of course its a good one and they offer it but it is not a requirement.
 
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kaykayporty said:
I absolutely will. I'm sure IDFC First will turn out great.

Hoping it doesn't crash on Financial new year like HDFC did 2 years ago xD
Click to expand...
Idfc crashed leaps & bound

Dc reward is non existent
Saving account rates almost equal to other banks
Fd rates aren't too high
Pre approved offer forget it
Cc apply - too inconsistent algorithm

Free imps , u got it there
 
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RadioactiveTabela said:
I have a similar requirement. Need an account for everyday expenses, having:

1. 0 MAB
2. Free ~5-10 cheque per FY
3. Free and prompt transaction SMS
4. Free debit card if useless or no benefits. If there are good benefits like Rupay Select, then I don't mind the charges.
5. Good uptime for UPI and quick support if a transaction fails / fraud


DBS Digibank used to be great for this. But they raised MAB to 10k and hiked charges, so closed it.

Then I opened ICICI WM account with 100k IP. Again worked well for 6 months till I got downgraded to 25k MAB. 25k MAB is too high, so closing this.

Then last week I opened IndusInd Indie Megastar. Realized the bank has garbage tech. UPI uptime is terrible and they don't even send transaction SMS. Closing.

Now I'm thinking of overcorrecting and going with a large PSU like SBI / PNB / Canara because I want the bank to offer the same deal for long term. How is 'SBI Insta Plus Saving Bank Account through Video KYC'? Free debit card criteria seems to be pending, can I get a debit card with good benefits? 'quick support if a transaction fails / fraud' also might be an issue.
Click to expand...
Go with canara or pnb for rupay select
 
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kaykayporty said:
I've been looking to simplify my expenses by having one source of outgoing expenses. I currently have SBI (for investments) and HDFC (for salary).

What I'm looking for is a third bank account for expenses only. Part of the money from my salary account would move here every month.

Features I want:
1. Autopay for CC (all CC even not bank CC)
2. Ease of opening online and subsequently no need to visit branch. Ever.
3. The home branch concept is stupid and absurd and it should not have that.
4. Reliable and fantastic desktop and mobile banking experience. No middle of the day maintenance windows.
5. (hopefully) zero spam. I don't want calls or upselling or cross selling.
6. 24 hours support in case something happens.
7. I have no problem maintaining up to 10,000 MAB. As long as it is not limiting my banking experience. I would be crediting 70-80K each month for expenses.

I'm considering ICICI, Kotak (idk if I should pick 811 or normal) and IDFC First bank account. I'm open to other options. Please provide detailed feedback.
---
I do not care about offers or anything unnecessary. This is an expense account and this is what it should be. No credit card from this bank necessary (unless of course its a good one and they offer it but it is not a requirement.
Click to expand...
Yes its not kotak 811 etc. its 404 account from non existent bank.
1705482428655.png
 
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