Multiple Bank Accounts

[dhiraz]

Dear Community Members!

We All Know in This Community Every Person Have Multiple Bank Accounts. Now I Just Wants to Know What is the Advantages and Disadvantages of Multiple Accounts and the Consequences of Having Multiple Accounts.

I Have These
1. HDFC - Savings Max (25K MAB)
2. IDFC - Signature DC (25K MAB)
3. Axis - Liberty (25K MAB)
4. ICICI - Regular (10K MAB)
5. Kotak - 811 (0 MAB)
6. SBI - Lotus Saving Bank-ADHAR-CHQ (0 MAB)
7. Union Bank - SBGEN (250 - 1k QAB)
8. Central Bank - HSS Account (500-2k QAB)
9. Fi - Neo Bank (0 MAB)
10. Jupiter - Neo Bank (0 MAB)
11. IPPB - Payments Bank (0 MAB)
12. NSDL - Payments Bank (0 MAB)

If You Are Comfortable With Sharing Which Accounts You Hold Please Share. Also Share Your Experience, Charges and Benefits. Currently Which One You Planning to Close or Opening Any & Give Useful Advice To Me and To Other Community Members.

Edit: Please Explain One More Things If We Have Multiple Accounts and We Usually Send Money From Own Account To Another Account How These Transaction Considered By Eyes of ITD?

 

[Wealth is my birth right!]

I understand that they have sales target. So, I try being polite. But, I used to get calls from him like 2-3 times a day, 4-5 days a week. One time, I was driving on the National Highway, and I got his call. I picked his call. Again FD. I told him to call me after 1 hr, as I would have reached my home. In the next 5 minutes, he called me again. I told him that I am driving. He said that "please create a FD", and another one in 30 minutes..... I got fed up. No more polite behaviour for him.

Able to see the situation of RM
Pro tip
For my hdfc contacts I assigned different tone so I won’t pick easily as long as there’s something I requested to do in my account from branch lol

 

[kjs]

Able to see the situation of RM
Pro tip
For my hdfc contacts I assigned different tone so I won’t pick easily as long as there’s something I requested to do in my account from branch lol

Yeah sometimes i have evn done that.

 

[AsB]

Able to see the situation of RM
Pro tip
For my hdfc contacts I assigned different tone so I won’t pick easily as long as there’s something I requested to do in my account from branch lol

Not really matters. He has called me so many times, that I know his number.

 

[AsB]

That was indeed a good experience for you.. so from what i can make out only icici & bob turned out to be good for you overall..I have decent experience with axis .. however the RM forces me for lots of schemes i just keep my point and ignore..hdfc my experience is also good.. actually i hardly go to bank branches so i can avoid all the marketing tactics by bank employees

I had forgotten to mention DBS bank. Updated my previous post

 

[kjs]

I had forgotten to mention DBS bank. Updated my previous post

Yeah !! read that too .. thanks for clear explanations.

 

[AsB]

Yeah !! read that too .. thanks for clear explanations.

Btw, are you the owner of Cred ?

 

[kjs]

Btw, are you the owner of Cred ?

No man !! I would not have been here then

 

[Wealth is my birth right!]

No man !! I would not have been here then

lol
CRED owner can search forums to identify loopholes if any exists in their systems haha

 

[Wealth is my birth right!]

Dear friends at last got my paytm kyc done after 2 yrs of rolling over with mob nos change lol
Now also did it for 2 reasons one to get fastag and other to increase wallet loading limit per month.
Now query so far no plans for getting payments bank activated experts pls say whether this account is worthy
What dc they give is it virtual or physical?
TIA

 

[FinoGuy]

Dear friends at last got my paytm kyc done after 2 yrs of rolling over with mob nos change lol
Now also did it for 2 reasons one to get fastag and other to increase wallet loading limit per month.
Now query so far no plans for getting payments bank activated experts pls say whether this account is worthy
What dc they give is it virtual or physical?
TIA

Oh, can we do wallet only full kyc instead of paytm payment bank? Or is it because if rbi ban on paytm pb. I thought the ban was lifted.
& congrats on the upgrade! Did u give aadhar no or offline kyc?

 

[Wealth is my birth right!]

Oh, can we do wallet only full kyc instead of paytm payment bank? Or is it because if rbi ban on paytm pb. I thought the ban was lifted.
& congrats on the upgrade! Did u give aadhar no or offline kyc?

After my kyc i'm able to see limit extended to 1l from 10k
so far didnt activated account and dont want unless its beneficial

 

[FinoGuy]

After my kyc i'm able to see limit extended to 1l from 10k
so far didnt activated account and dont want unless its beneficial

Can you transfer to account now? (Without activating payments bank), did u do offline kyc or online kyc? (offline kyc not available at my location. Haven't upgraded because of this sole reason! I am hesitant to give my adhar number to paytm.)

 

[Wealth is my birth right!]

Can you transfer to account now? (Without activating payments bank), did u do offline kyc or online kyc? (offline kyc not available at my location. Haven't upgraded because of this sole reason! I am hesitant to give my adhar number to paytm.)

1. No didnt tried bank transfer since I heard as long as once we use bank transfer then wallet load offers will not appear for that account
2. Online KYC with video pan, aadhaar post which within a week received a qr and scan on paytm app post which app is showing full kyc

 

[FinoGuy]

1. No didnt tried bank transfer since I heard as long as once we use bank transfer then wallet load offers will not appear for that account
2. Online KYC with video pan, aadhaar post which within a week received a qr and scan on paytm app post which app is showing full kyc

Oh.. I thought vkyc was instant! My bad.. I didn't knew it takes 1 week... Thnx for clarifying..

 

[Wealth is my birth right!]

Oh.. I thought vkyc was instant! My bad.. I didn't knew it takes 1 week... Thnx for clarifying..

yes its like normal VKYC only, but since RBI ban still there on paytm they're not asking to ON location and record it instead they send QR code to our adhaar address and check whether we stay in that address to receive it and scan in their app.
Moreover my account is dormant more than an year so they took kyc and another acc new in 2022 its not possible to do kyc in that

 

[Donald Duck]

yes its like normal VKYC only, but since RBI ban still there on paytm they're not asking to ON location and record it instead they send QR code to our adhaar address and check whether we stay in that address to receive it and scan in their app.

That's useful information. That means opening PayTM bank account should be possible abroad.

 

[Wealth is my birth right!]

That's useful information. That means opening PayTM bank account should be possible abroad.

Should not be possible right

 

[pxg]

My non-dormant Accounts:

* SBI (0MAB): My second bank account (opened a full account as a minor with my minor PAN card) and my most active one till 2020. And surprisingly I have had a good experience with this bank, better than many private banks especially since I got a platinum DC as a minor.

* IDFC SA Alliances (0MAB) - Got this from Niyo, I use this like a Salary account. Their internet banking is nice so it became my main account. However I got a taste of their terrible email/phone service recently after trying to get them to process an inward remittance.

* HDFC DigiSave Youth (5k MAB) - Opened this recently, the Millenia DC with this is nice. Trying to get added to my father's Imperia family but he is a busy man. Hopefully that will happen before this card renews.

* Axis ASAP (0MAB) - Trash account. Debit card never worked properly for me and there are charges everywhere. Account went to -1000 once. Probably the reason why Axis keeps rejecting my CC.

* Kotak 811 (0MAB) - It's a simple account but the Visa classic that I got with it sucked due to no contactless. Ended actively using this account and Kotak services after closing my 811 DreamDifferent CC as it's impossible to get an unsecured card

* SBM (0MAB) - Have an account from Vested. Won't be using it anymore.

* Paytm Payments Bank - I don't know why I have this.

Closed or Dormant Accounts:

* Central Bank: Possibly one of the worst PSU banks relative to the size. Opened a minor account and employees kept bullshitting about cheque book, debit card, etc. And when I got the debit card it was a RuPay card (terrible in 2016) - didn't work in half of the places and stopped working after 12am.

* DBS: Shut it due to the MAB requirement. Never used it much - apart from the BB cobranded debit card there was nothing notable about this account.

* IPPB: Was never able to login to the app (this was all before the RuPay craze) and get KYC completed

*AU SFB: Account closed after 1 year and no advance notice. Still haven't encashed the 130rs cheque. Had good offers though.

Planning to open BOB B3 account.

 

[Wealth is my birth right!]

My non-dormant Accounts:

* SBI (0MAB): My second bank account (opened a full account as a minor with my minor PAN card) and my most active one till 2020. And surprisingly I have had a good experience with this bank, better than many private banks especially since I got a platinum DC as a minor.

* IDFC SA Alliances (0MAB) - Got this from Niyo, I use this like a Salary account. Their internet banking is nice so it became my main account. However I got a taste of their terrible email/phone service recently after trying to get them to process an inward remittance.

* HDFC DigiSave Youth (5k MAB) - Opened this recently, the Millenia DC with this is nice. Trying to get added to my father's Imperia family but he is a busy man. Hopefully that will happen before this card renews.

* Axis ASAP (0MAB) - Trash account. Debit card never worked properly for me and there are charges everywhere. Account went to -1000 once. Probably the reason why Axis keeps rejecting my CC.

* Kotak 811 (0MAB) - It's a simple account but the Visa classic that I got with it sucked due to no contactless. Ended actively using this account and Kotak services after closing my 811 DreamDifferent CC as it's impossible to get an unsecured card

* SBM (0MAB) - Have an account from Vested. Won't be using it anymore.

* Paytm Payments Bank - I don't know why I have this.

Closed or Dormant Accounts:

* Central Bank: Possibly one of the worst PSU banks relative to the size. Opened a minor account and employees kept bullshitting about cheque book, debit card, etc. And when I got the debit card it was a RuPay card (terrible in 2016) - didn't work in half of the places and stopped working after 12am.

* DBS: Shut it due to the MAB requirement. Never used it much - apart from the BB cobranded debit card there was nothing notable about this account.

* IPPB: Was never able to login to the app (this was all before the RuPay craze) and get KYC completed

*AU SFB: Account closed after 1 year and no advance notice. Still haven't encashed the 130rs cheque. Had good offers though.

Planning to open BOB B3 account.

big bucket of bunchy accounts.
Thanks for the input of Axis ASAP which is showing in my axis credit card app and i thought to open for making axis magnus bill pay easy, after seeing ur negative balance of charges i didnt clicked it.

 

[Batmanbaba]

big bucket of bunchy accounts.
Thanks for the input of Axis ASAP which is showing in my axis credit card app and i thought to open for making axis magnus bill pay easy, after seeing ur negative balance of charges i didnt clicked it.

This account does not exist anymore....