Wealth Management Account: Benefits, Negotiation Tips, and Understanding Wealth Select Account

[Rahul Raj]

Next week, I plan to open a wealth management account with an initial deposit of 5 lakhs. I would like to know what aspects I can negotiate with the Bank Manager during the account opening process. Are there specific benefits I should inquire about when discussing the account with the BM? Additionally, I am curious about the type of debit card I will receive. Is there a possibility to request a more premium debit card if I desire one? Furthermore, could anyone explain the advantages of a "wealth select account" in comparison to a regular wealth management account? Lastly, how to open a select account if I decide it suits my needs?

 

[Deleted member 11974]

with a wm acc you may be able to negotiate for a sapphiro cc ltf based on itr,cibil. further you will get an rm and a 0 mab acc with wm.
you would get a world mastercard debit card.
ask your bm if he can help you in getting a premium debit card above this one.
wealth select requires a higher nrv and you get a efficient rm you can say in a way.
nrv for select account is 3 crs
negotiate with rm for this as well.

 

[AritraSaha]

Next week, I plan to open a wealth management account with an initial deposit of 5 lakhs. I would like to know what aspects I can negotiate with the Bank Manager during the account opening process. Are there specific benefits I should inquire about when discussing the account with the BM? Additionally, I am curious about the type of debit card I will receive. Is there a possibility to request a more premium debit card if I desire one? Furthermore, could anyone explain the advantages of a "wealth select account" in comparison to a regular wealth management account? Lastly, how to open a select account if I decide it suits my needs?

Wealth management 1-10L initial deposit
Wealth select 3cr nrv.

In wm account will get mc world dc.
In ws account will get visa infinity dc.

For, more details plz search on the forum, no need to create a new thread.

 

[Nitheesh]

with a wm acc you may be able to negotiate for a sapphiro cc ltf based on itr,cibil. further you will get an rm and a 0 mab acc with wm.
you would get a world mastercard debit card.
ask your bm if he can help you in getting a premium debit card above this one.
wealth select requires a higher nrv and you get a efficient rm you can say in a way.
nrv for select account is 3 crs
negotiate with rm for this as well.

But the premium debit cards will be chargeable right?

 

[Deleted member 11974]

But the premium debit cards will be chargeable right?

no
bank usually doesnt issue wealth select debit cards for wealth management but your branch manager may be able to procure it for you.
debit cards of icici arent chargebale

 

[Nitheesh]

no
bank usually doesnt issue wealth select debit cards for wealth management but your branch manager may be able to procure it for you.
debit cards of icici arent chargebale

Are you sure? Gemstone debit cards are available, like Sapphiro debit cards which are having annual charges. Also, I don't know how wealth select debit card will be issued for a wealth account. Anyone you know got it?

 

[Deleted member 11974]

Are you sure? Gemstone debit cards are available, like Sapphiro debit cards which are having annual charges. Also, I don't know how wealth select debit card will be issued for a wealth account. Anyone you know got it?

Super premium debit cards aren't chargeable.

 

[imdjay]

Super premium debit cards aren't chargeable.

All the debit cards except which come initially with the account are chargeable.
You may get them free in other ways but by default, they are not free.

 

[Deleted member 11974]

All the debit cards except which come initially with the account are chargeable.
You may get them free in other ways but by default, they are not free.

Nope
I have replaced atleast 7 debit cards in the past 1 year due to poor quality,loss and have never been charged for it

 

[imdjay]

Nope
I have replaced atleast 7 debit cards in the past 1 year due to poor quality,loss and have never been charged for it

Replace with the same card or different one?

 

[Deleted member 11974]

Replace with the same card or different one?

same for the first 6
then after acc got upgraded got wealth select

 

[imdjay]

same for the first 6
then after acc got upgraded got wealth select

So you answer yourself.
Only the card which comes with your account is free.
Other debit cards are chargeable.

Replacing with the same card is obviously free based on your account variant.
You can try calling the customer care team and ask about changing your debit card to another (even downgrading). They will tell you it's chargeable. but you can connect with your RM, he/she might help you get that card for free.

 

[Deleted member 11974]

So you answer yourself.
Only the card which comes with your account is free.
Other debit cards are chargeable.

Replacing with the same card is obviously free based on your account variant.
You can try calling the customer care team and ask about changing your debit card to another (even downgrading). They will tell you it's chargeable. but you can connect with your RM, he/she might help you get that card for free.

as i said
gemstone and expression cards are chargeable
other premium/super premium debit cards arent

 

[ccent]

as i said
gemstone and expression cards are chargeable
other premium/super premium debit cards arent

can you please elaborate what cards are covered in "other premium/super premium debit cards"? because in Imobile app the upgrade option available are only for gemstone and expression debit card

 

[Deleted member 11974]

can you please elaborate what cards are covered in "other premium/super premium debit cards"? because in Imobile app the upgrade option available are only for gemstone and expression debit card

Wealth select DC
Wealth management DC mc and visa variant.
The private banking DC

 

[ccent]

Wealth select DC
Wealth management DC mc and visa variant.
The private banking DC

Thanks for sharing. these are really good options. especially Wealth select DC as it is issue in Visa Infinite. which debit card were you able to get and what was the process?

 

[Deleted member 11974]

I

Thanks for sharing. these are really good options. especially Wealth select DC as it is issue in Visa Infinite. which debit card were you able to get and what was the process?

Have wealth select and wealth management mc variant

 

[ccent]

I

Have wealth select and wealth management mc variant

i tried placing a request for wealth select debit card through customer care team but they were not able to take it. can you please share through whom you placed the request for getting wealth select DC?

 

[Deleted member 11974]

i tried placing a request for wealth select debit card through customer care team but they were not able to take it. can you please share through whom you placed the request for getting wealth select DC?

I got it through customer care itself

 

[Harrypotter]

I got it through customer care itself

Just to confirm are you holding wealth management account or wealth select account