Need help with bank account for a family member

[dvader]

Hi All,

I have a family member (50+ year old lady), who needs an account. The catch is she will have to visit the branch for a few things, say 3 times a quarter at max. So only the banks within reach would be preferred, here's the list

Consideration: Low MAB (since all nearby branches are PSU, it shouldn't be an issue), virtual DC (any network, any variant,t just need a free virtual DC that's all). I know SMS charges will be there but if any of these banks have an account variant with, say, 5000 MAB with no SMS charges, she can maintain 5000 without any issues. Netbanking and Mobilebanking registration without DC.

Branches within 2-6 km
Indian Bank
Bank of India
UCO Bank

Branches a bit far off, but still not a big deal if the features are good
Punjab & Sind Bank
Bank Of Maharashtra

Note: I am not excluding private banks, no private banks within 15 Kms (it's a remote village)

She would prefer to open the account via VKYC (she is comfortable with it)

Really appreciate your inputs.

 

[surojitLaha]

Hi All,

I have a family member (50+ year old lady), who needs an account. The catch is she will have to visit the branch for a few things, say 3 times a quarter at max. So only the banks within reach would be preferred, here's the list

Consideration: Low MAB (since all nearby branches are PSU, it shouldn't be an issue), virtual DC (any network, any variant,t just need a free virtual DC that's all). I know SMS charges will be there but if any of these banks have an account variant with, say, 5000 MAB with no SMS charges, she can maintain 5000 without any issues. Netbanking and Mobilebanking registration without DC.

Branches within 2-6 km
Indian Bank
Bank of India
UCO Bank

Branches a bit far off, but still not a big deal if the features are good
Punjab & Sind Bank
Bank Of Maharashtra

Note: I am not excluding private banks, no private banks within 15 Kms (it's a remote village)

She would prefer to open the account via VKYC (she is comfortable with it)

Really appreciate your inputs.

There is no SBI branch nearby?
SBI offers zero balance account with lifetime free virtual card. No sms charges , no imps charges.
You can do the NetBanking/mobile Banking registation without dc from branch

Overall It's a good option. You can consider if branches are nearby

 

[hender]

Hi All,

I have a family member (50+ year old lady), who needs an account. The catch is she will have to visit the branch for a few things, say 3 times a quarter at max. So only the banks within reach would be preferred, here's the list

Consideration: Low MAB (since all nearby branches are PSU, it shouldn't be an issue), virtual DC (any network, any variant,t just need a free virtual DC that's all). I know SMS charges will be there but if any of these banks have an account variant with, say, 5000 MAB with no SMS charges, she can maintain 5000 without any issues. Netbanking and Mobilebanking registration without DC.

Branches within 2-6 km
Indian Bank
Bank of India
UCO Bank

Branches a bit far off, but still not a big deal if the features are good
Punjab & Sind Bank
Bank Of Maharashtra

Note: I am not excluding private banks, no private banks within 15 Kms (it's a remote village)

She would prefer to open the account via VKYC (she is comfortable with it)

Really appreciate your inputs.

Bank 🏦 Master don't say, by taking knowledge test, you are making our April Fool🤔

 

[dvader]

Bank 🏦 Master don't say, by taking knowledge test, you are making our April Fool🤔

No brother, just trying to help family. Although I do have account with two of these banks, they are old accounts and the only use it is Rs 1 txn to keep them active. No one was ever hurt by taking advise. Two brains always better than one.

 

[hender]

No brother, just trying to help family. Although I do have account with two of these banks, they are old accounts and the only use it is Rs 1 txn to keep them active. No one was ever hurt by taking advise. Two brains always better than one.

I don't have doubt, you have 30+ sb account, and that much of knowledge, even India's Top Business Channel can't debate with you on RBI, Banks, NPA and things around them.
It's just you asking so simply, (May be you are in light mood today and enjoying April Fool Game 🎯)
SBI Top,
Rest all PSU, almost identical, you can choose anyone , "The family member (Lady) is comfortable dealing with."

 

[s1t2y3a3m6]

no SMS charges, she can maintain 5000 without any issues. Netbanking and Mobilebanking registration without DC.

BOI can be a good option

But sms charges are there (free till 5 alert)

No debit card required for net banking with transaction rights.

You can register and use mobile banking without dc but transaction right can avail after 6 months

 

[dvader]

There is no SBI branch nearby?
SBI offers zero balance account with lifetime free virtual card. No sms charges , no imps charges.
You can do the NetBanking/mobile Banking registation without dc from branch

Overall It's a good option. You can consider if branches are nearby

Nope these are the only banks unfortunately and in ascending order (distance).

SBI was an excellent option but unfortunately can't use it.

 

[dvader]

I don't have doubt, you have 30+ sb account, and that much of knowledge, even India's Top Business Channel can't debate with you on RBI, Banks, NPA and things around them.
It's just you asking so simply, (May be you are in light mood today and enjoying April Fool Game 🎯)
SBI Top,
Rest all PSU, almost identical, you can choose anyone , "The family member (Lady) is comfortable dealing with."

You are being very kind my brother 🙏. But I have learned through some serious mistakes in my life that it's always better to have an open mind. You never know what gem of knowledge you might receive.

My Aunt would have to mange things on her own after I set things up (I will manage netbaning n all remotely if the need be). So I want to get some real life experiences and suggestions before I set things for her.

Unfortunately nearest SBI too far to be viable. So not an option

@s1t2y3a3m6 BoI seems alright.

The plan is to shortlist 3 banks based on ease and features and On Friday I would visit them one by one and choose the first bank with good overall vibe.

Why being so serious about an account? I might not be able to meet her for 2-3 years and want to set her up in the best way possible. Also can't have physical DC due to reasons I won't mention here.

So account should either have a virtual DC or work without a DC.

 

[hender]

You are being very kind my brother 🙏. But I have learned through some serious mistakes in my life that it's always better to have an open mind. You never know what gem of knowledge you might receive.

My Aunt would have to mange things on her own after I set things up (I will manage netbaning n all remotely if the need be). So I want to get some real life experiences and suggestions before I set things for her.

Unfortunately nearest SBI too far to be viable. So not an option

@s1t2y3a3m6 BoI seems alright.

The plan is to shortlist 3 banks based on ease and features and On Friday I would visit them one by one and choose the first bank with good overall vibe.

Why being so serious about an account? I might not be able to meet her for 2-3 years and want to set her up in the best way possible. Also can't have physical DC due to reasons I won't mention here.

So account should either have a virtual DC or work without a DC.

A basic Debit Card around 150 + GST,
SMS 60+GST,
Annual charges.

In case needed , nearest branch or easy to reach branch is good.
Ask about "Do they have special services for elders or give priority to Ladies or Senior people".

Few things will be more clear upon your branch visit.
All the best 👍

 

[dvader]

A basic Debit Card around 150 + GST,
SMS 60+GST,
Annual charges.

In case needed , nearest branch or easy to reach branch is good.
Ask about "Do they have special services for elders or give priority to Ladies or Senior people".

Few things will be more clear upon your branch visit.
All the best 👍

That's the thing it's not about DC charges, just she can't have physical card for personal reasons. SMS charges not an issue but she is fine with 5k/10k mab variant without such fee.

Let's see some other suggestions from the list I shared. Branch people are often not much knowledgeable that's why this thread.

 

[hender]

That's the thing it's not about DC charges, just she can't have physical card for personal reasons. SMS charges not an issue but she is fine with 5k/10k mab variant without such fee.

Let's see some other suggestions from the list I shared. Branch people are often not much knowledgeable that's why this thread.

DC- That's for you, not for her.(Net/MB), in case bank don't have option of Virtual Card, as you are not available for 2-3 years.
Have a look of - Behaviour and attitude of People @ branch, basic knowledge they have.
Rest, what are you looking at, you know better.