Privilege Banking on Icici Mine Account

[Harshal]

I have opened icici mine savings account in 2021 but from last 2 months when I login to net banking, privilege banking is written on the top left side, before it was written standard banking.

When I spoke to customer care, he said that your mine account has been upgraded to mine titanium account (which is zero balance)

Has anyone been upgraded in this way and what benefits do you get in this upgraded account, share your experience with me

 

[kjs]

Would suggest you to keep a PSB account for govt. schemes. Just my opinion.

Actually ICICI bank app is good overall and has access to almost all schemes from app itself so thought for the same. I have UNION bank account but app is very much ok

 

[shrewdoc]

Actually ICICI bank app is good overall and has access to almost all schemes from app itself so thought for the same. I have UNION bank account but app is very much ok

You can try SBI. It's Yono app is good, but their NetBanking has improved much in recent times. Also, it's more secure with 2FAs and Profile Passwords as extra layer of security.

 

[Trust Me]

Actually ICICI bank app is good overall and has access to almost all schemes from app itself so thought for the same.

Can't comment on the app, never having used it. But as far as netbanking is concerned, showing apparent access to government schemes and actually providing functional access, are two different things! For example, all 3 large private banks show option to purchase RBI FRSB through netbanking, and none would actually go through! I believe such "options" are left broken purposely in order to discourage customers away from government schemes. One would have to do it the manual way, if at all possible.

 

[kjs]

Can't comment on the app, never having used it. But as far as netbanking is concerned, showing apparent access to government schemes and actually providing functional access, are two different things! For example, all 3 large private banks show option to purchase RBI FRSB through netbanking, and none would actually go through! I believe such "options" are left broken purposely in order to discourage customers away from government schemes. One would have to do it the manual way, if at all possible.

I already have an account with Union Bank of India. Should I go ahead and open government schemes with them through net banking ? Union bank UI is pathetic like a final year project but features are good and looks secured also as there is 2FA

 

[Trust Me]

I already have an account with Union Bank of India. Should I go ahead and open government schemes with them through net banking ? Union bank UI is pathetic like a final year project but features are good and looks secured also as there is 2FA

I've had only bad experiences with Union Bank, -- offline banking, netbanking, credit card (there are a couple of threads of mine here about that) ... etc., so I can't recommend them. If you want to build a long term relationship with a public sector bank, I'd recommend SBI. With all their faults, they do have some strong points: safest PSB ("too big to fail"), all government schemes, very good netbanking (so you can minimize offline experiences), good service through SPBs, etc.

 

[kjs]

I've had only bad experiences with Union Bank, -- offline banking, netbanking, credit card (there are a couple of threads of mine here about that) ... etc., so I can't recommend them. If you want to build a long term relationship with a public sector bank, I'd recommend SBI. With all their faults, they do have some strong points: safest PSB ("too big to fail"), all government schemes, very good netbanking (so you can minimize offline experiences), good service through SPBs, etc.

Okay , appreciate your inputs. I will have to open a new account in that case. Actually i have 4 accounts(kotak,icici,union,hdfc) already probably will close one and open with SBI.

 

[hellobois]

It's not always 1L. Privilege has different levels. Gold requires just 50k in SB, Silver only 25k.

I get zero AMB through TRV. I've learnt in this forum that Wealth management customers get away without doing even that! I'm surprised ICICI doesn't insist on extracting their pound of flesh! In hope of what?

My ICICI wealth management account is getting downgraded and the relationship manager is asking me to open gold privilege account and she told me that it requires only 50,000 initial funding and the account will become zero balance account.
is it true? please confirm as I do not want to get engaged with them on false promises.

 

[NShah]

My ICICI wealth management account is getting downgraded and the relationship manager is asking me to open gold privilege account and she told me that it requires only 50,000 initial funding and the account will become zero balance account.
is it true? please confirm as I do not want to get engaged with them on false promises.

I think no
You have to maintain 50k mab

 

[hellobois]

I think no
You have to maintain 50k mab

Thanks bro, they are trapping me again by giving false promise.
Thanks 🙏

 

[Trust Me]

My ICICI wealth management account is getting downgraded and the relationship manager is asking me to open gold privilege account and she told me that it requires only 50,000 initial funding and the account will become zero balance account.
is it true? please confirm as I do not want to get engaged with them on false promises.

I think no
You have to maintain 50k mab

I agree with NShah.

Try to get that promise in writing. Then you'll know.

 

[hellobois]

I agree with NShah.

Try to get that promise in writing. Then you'll know.

Just because of their fake promise I got entangled in wealth management fiasco.
Now I have to close the account.
Don't want to repeat it.
Moreover there is hardly any benefit of ICICI debit cards. I have credit card and what is sufficient for sale/discount.

 

[falcon007]

My account automatically upgraded to Privilege Banking without any request from my side.
But, I didn't request any nor did I get any mail.
Had 1L+ TRV for about 2 weeks then I moved funds out to other account.

Don't know what are pros and cons of this so called upgrade apart from Maroon colour scheme?