Query about SBI Rishtey?

[R@J]

Hi Folks,
Has anyone tried getting the family banking service of SBI called SBI Rishtey?

How was your experience and what all benefits does it provide. There is very limited information even on their website.

Specific Use case that I wanted to ask: Can I group my account under family member's Diamond/Platinum salary account and get rupay Plat/select card issued to me without charges?

Thanks!

 

[CC-Muncher]

Lunch time sir. Baadmein aana

 

[Amit_]

I will try and update here

 

[R@J]

Hi @amit90 , @MrWick : I tried to get it done by grouping my account under my family members (CSP Platinum salary account).

After some follow-ups, I can see my account being changed to SBCHQ-SBP-GEN-xxxx account type. Shouldn't it be same as that of family sponsor (Platinum)? If not, then how can I avail similar facilities on my account. I understand SBCHQ-SBP is similar to normal saving account, just with Sweep facility!

Any help/info is appreciated

 

[shivamk]

Hi @amit90 , @MrWick : I tried to get it done by grouping my account under my family members (CSP Platinum salary account).

After some follow-ups, I can see my account being changed to SBCHQ-SBP-GEN-xxxx account type. Shouldn't it be same as that of family sponsor (Platinum)? If not, then how can I avail similar facilities on my account. I understand SBCHQ-SBP is similar to normal saving account, just with Sweep facility!

Any help/info is appreciated

@R@J any success in getting your family members' accounts upgraded to Platinum category?

 

[R@J]

@shivamk : So, after lots and lots of follow-ups, I was told that th accounts have been grouped under the master account (Platinum-salary variant), but the dependent/family accounts will continue to be in the normal account type (like unlike Axis or so- where all of the family members accounts gets upgraded). I was told that family members will just get the charges free debit card and other benefits as per Rishtey offer.

However, there is no option wherein I can check it myself.... just waiting for annual fee on any of the family members cards - if it's not applied, then can assume that grouping has been done successfully.

I was not happy with the overall offering:
- Dependent account were still under normal Savings account type/code (SB Plus)
- Only RPJ (Rupay JCB) card was issued to dependents (which anyone can get from branch), otherwise would have became eligible for Rupay Select if all the accounts were upgraded to Platinum salary equivalent.
- I was made to sign forms, provide KYC from all members and then transfer all the accounts to same branch (bcz they said only then they could change the account type) - but all for nothing as in the last they just kept the other accounts as it is

Not worth all the troubles, follow-ups and very limited value proposition!

Please let me know if I have missed on anything or any bigger branch is offering a better proposition.

@MrWick :Any inputs from your side? @amit90

 

[shivamk]

@R@J oh, loads of trouble for almost no offering. Is the RPJ card offered LTF? Also, did you try SBI wealth services?

 

[APT]

@shivamk : So, after lots and lots of follow-ups, I was told that th accounts have been grouped under the master account (Platinum-salary variant), but the dependent/family accounts will continue to be in the normal account type (like unlike Axis or so- where all of the family members accounts gets upgraded). I was told that family members will just get the charges free debit card and other benefits as per Rishtey offer.

However, there is no option wherein I can check it myself.... just waiting for annual fee on any of the family members cards - if it's not applied, then can assume that grouping has been done successfully.

I was not happy with the overall offering:
- Dependent account were still under normal Savings account type/code (SB Plus)
- Only RPJ (Rupay JCB) card was issued to dependents (which anyone can get from branch), otherwise would have became eligible for Rupay Select if all the accounts were upgraded to Platinum salary equivalent.
- I was made to sign forms, provide KYC from all members and then transfer all the accounts to same branch (bcz they said only then they could change the account type) - but all for nothing as in the last they just kept the other accounts as it is

Not worth all the troubles, follow-ups and very limited value proposition!

Please let me know if I have missed on anything or any bigger branch is offering a better proposition.

@MrWick :Any inputs from your side? @amit90

Can't we apply rupay select debit card under regular SB acc?

 

[MrWick]

@shivamk : So, after lots and lots of follow-ups, I was told that th accounts have been grouped under the master account (Platinum-salary variant), but the dependent/family accounts will continue to be in the normal account type (like unlike Axis or so- where all of the family members accounts gets upgraded). I was told that family members will just get the charges free debit card and other benefits as per Rishtey offer.

However, there is no option wherein I can check it myself.... just waiting for annual fee on any of the family members cards - if it's not applied, then can assume that grouping has been done successfully.

I was not happy with the overall offering:
- Dependent account were still under normal Savings account type/code (SB Plus)
- Only RPJ (Rupay JCB) card was issued to dependents (which anyone can get from branch), otherwise would have became eligible for Rupay Select if all the accounts were upgraded to Platinum salary equivalent.
- I was made to sign forms, provide KYC from all members and then transfer all the accounts to same branch (bcz they said only then they could change the account type) - but all for nothing as in the last they just kept the other accounts as it is

Not worth all the troubles, follow-ups and very limited value proposition!

Please let me know if I have missed on anything or any bigger branch is offering a better proposition.

@MrWick :Any inputs from your side? @amit90

Product code should be 1029-1601 and account description should be SBI RISHTEY for accounts grouped under Your Account family ID. If they're still showing as SB PLus or Sb CHQ etc, then Branch has not changed the product codes and Annual fee will be levied for DC.

also, Branch is well within it's right to Ask for forms and KYC as this is an audit requirement.

Do reply if needs any other help

 

[APT]

If you are working in Defence, then Only you're eligible for Sbi Rishtey product.

And Sbi Rupay Select is not applicable to you or your family members under Defence Salary package.

Secondly, Product code should be 1029-1601 and account description should be SBI RISHTEY for accounts grouped under Your Account family ID. If they're still showing as SB PLus or Sb CHQ etc, then Branch has not changed the product codes and Annual fee will be levied for DC.

also, Branch is well within it's right to Ask for forms and KYC as this is an audit requirement.

Do reply if needs any other help

where does it say SBI Rishtey for Defence only?

 

[MrWick]

where does it say SBI Rishtey for Defence only?

Correction- Rishtey applicable for all type of Salary package accounts.

 

[APT]

@R@J oh, loads of trouble for almost no offering. Is the RPJ card offered LTF? Also, did you try DBI wealth services?

DBI wealth services ?

 

[shivamk]

DBI wealth services ?

Typo, sorry. I meant SBI Wealth management https://sbi.co.in/web/wealth-management

 

[R@J]

Product code should be 1029-1601 and account description should be SBI RISHTEY for accounts grouped under Your Account family ID. If they're still showing as SB PLus or Sb CHQ etc, then Branch has not changed the product codes and Annual fee will be levied for DC.

also, Branch is well within it's right to Ask for forms and KYC as this is an audit requirement.

Do reply if needs any other help

Thanks a lot for your proactiveness and sharing this Information @MrWick. That was a relatively small branch, so the branch people might not be aware of the same.
Just a query, which DC would the family members become eligible if main account is CSP-Platinum (already having SRA debit card), and dependent accounts are SBI-RISHTEY.

Thanks in advance!

 

[R@J]

@

@R@J oh, loads of trouble for almost no offering. Is the RPJ card offered LTF? Also, did you try SBI wealth services?

@shivamk till now, I was thinking that my RPJ would be free, but after MrWick's clarification - I'll need to get the same changed to the codes mentioned by him.

Also, haven't tried SBI Wealth, but the main account is CSP-Platinum.

 

[MrWick]

Thanks a lot for your proactiveness and sharing this Information @MrWick. That was a relatively small branch, so the branch people might not be aware of the same.
Just a query, which DC would the family members become eligible if main account is CSP-Platinum (already having SRA debit card), and dependent accounts are SBI-RISHTEY.

Thanks in advance!

As far as my knowledge goes which I keep pretty upto date about my organisations latest developments, Select Debit card codes are only linked to CSP Product code account variants and not with Rishtey Which has a different product code. Given all that, Select Debit Card will not be available for family members as of now.
All other Debit cards which are applicable to regular account can be issued to RISHTEY including RPJ without any joining or annual fees.

 

[shivamk]

@MrWick can a single account be covered under both CSP and Wealth account? Will SBI Rishtey be available in that case?

 

[R@J]

As far as my knowledge goes which I keep pretty upto date about my organisations latest developments, Select Debit card codes are only linked to CSP Product code account variants and not with Rishtey Which has a different product code. Given all that, Select Debit Card will not be available for family members as of now.
All other Debit cards which are applicable to regular account can be issued to RISHTEY including RPJ without any joining or annual fees.

Thanks a lot @MrWick for your help and information in this regard.
I finally got the family accounts converted to SBI RISHTEY account type. The ABH was also impressed that I have the information which even SBI employees in their branch don't have. He also thanked me for this information which he learnt. I mentioned my friend works in SBI, who guided me on this.
Currently, got issued the RPJ for my account (I am family member, primary holder is my sibling).

Thanks

 

[MrWick]

Thanks a lot @MrWick for your help and information in this regard.
I finally got the family accounts converted to SBI RISHTEY account type. The ABH was also impressed that I have the information which even SBI employees in their branch don't have. He also thanked me for this information which he learnt. I mentioned my friend works in SBI, who guided me on this.
Currently, got issued the RPJ for my account (I am family member, primary holder is my sibling).

Thanks

Glad that I was able to help and provide guidance about my organisation's product

 

[MrWick]

@MrWick can a single account be covered under both CSP and Wealth account? Will SBI Rishtey be available in that case?

CSP and wealth are two separate account types and have different product codes. So, The answer is No