[sdp1975]

I opened an 811 Kotak account and they are spamming me with calls on weekends for lifetime free credit cards. Their online form https://www.kotak.com/j1001card/Card.../donotcall.jsp doesn't work. Unsolicited calls is a problem with all private banks.

I've sent them a complaint on social media, waiting for their response.

[TorqueyTechie]

My wife recently joined another company and during induction they have mentioned that they deposit pay only to accounts which are in their approved bank list. List includes Kotak Mahindra, SBI, HDFC, HSBC, IDFC, Standard Chartered and Axis Bank.

We both had our salary account all these years in Citibank and we are spoiled by the service but now she has to open an account in one of the banks listed. Any suggestions? Looking at the offers banks are providing for new accounts, I shortlisted Kotak Mahindra, HDFC but also keeping SBI in the mix.

Also, there is an EMI which she has in the citibank account. So planning to keep it open and transfer the money to that account every month (maybe setup an SI). Is it easy to change the bank account for EMIs?

[binand]

Originally Posted by binand

1. Continue with Citi and transition to Axis. I don't have a great opinion of Axis's services so this course I'd like to avoid.

It is Axis where I ended up - yesterday, completed the paperwork for a Burgundy Savings account. I hope it was the right decision.

Originally Posted by TorqueyTechie

List includes HDFC [and others]. We both had our salary account all these years in Citibank and we are spoiled by the service...

I strongly recommend you avoid HDFC. The headache of dealing with them is simply not worth their service quality. Especially if you are coming from Citi, then HDFC can feel like a penance for an offense you did not commit.

Originally Posted by TorqueyTechie

Is it easy to change the bank account for EMIs?

Generally all you need to do is to visit the financial institution that is deducting the EMI and submit a new mandate form (plus any additional KYC requirement if any). Being India I'd also maintain the right balance amount in both accounts for at least one EMI cycle because they all can muck up the communications.

[Latheesh]

Wife opened ICICI bank savings account and it took them 12 days to deliver cheque book and debt card (sent via speedpost). I think that is very slow!

[meerkat]

Originally Posted by binand

It is Axis where I ended up - yesterday, completed the paperwork for a Burgundy Savings account. I hope it was the right decision.

I don't know about the options available to you, but I've found out too late that Axis is apparently not a professionally run bank! I list below just some of my experiences as a Burgundy customer which have convinced me that Axis should fall even below HDFC (who I'm not a fan of either) in one's list of Indian banks to have a relationship with. Unfortunately, I'd already commited to a substantial relationship with them at least for the next several years. But hindsight has since forced me to divert all of my subsequently available funds elsewhere.

* The Axis IT dept. is a joke (apparently with Infosys at the back end)! If something works, fine. If something is broken, there is pretty much no hope it ever will get fixed! The local branch head, with all his/her good intentions, is seemingly helpless, -- and this for a Burgundy customer!

* Netbanking is primitive, -- behind almost every other bank I've had relationship with, and certainly far behind HDFC and SBI (but ahead of BOB, and, of course, PO). For a few months I couldn't even pay off my credit card bill from my Burgundy Savings account. I had to transfer the money to HDFC, and NEFT it back to Axis to pay off my CC bill! But, thankfully, even Axis had realized that it was too ridiculous, and finally fixed it.

* There are place keeper 'options' in netbanking that would entice you, but would never work!

* Axis blatantly flouts even CBDT norms for something as basic as issuing timely TDS certificates! Every other bank I've dealt with obey these norms. Some even issue monthly TDS information.

* Another gem which convinces me that it was not 'the right decision' for you to have opened a Burgundy Savings account in person at a branch! You have, perhaps, not realized it yet that opening a 'Digital' Burgundy Savings account (having exactly the same requirements as the physically opened one) entitles one to a host of additional benefits not allowed to a customer opening a physical account identical in every other respect!

-- There, of course, are other relatively minor annoyances too numerous to list.

And yes, I've also had a relationship with Citibank (in US, as well as in India) for many years. No Indian bank even comes close in terms of service!
.

[ZMG]

I am in a dilemma here just as some other BHPians.
My dad has been a citigold member since early 2000s.
Although Citibank gives very low rate of interest on FDs and saving accounts, the service has been top-notch.
I realised how good Citibanks service is after I dealt with HDFC 4th block Koramangla branch, in Bangalore.

In spite of having an Imperia account with them - the RM never responds to calls, messages, requests, ANYTHING!
The branch manager is always on medical emergency leave.
The credit card manager is on medical emergency leave.

Even though HDFC has good products (credit cards) - people like these are making me believe that I am better off with my humble ICICI and Kotak cards.

Now the dilemma is - since Citi is moving out - which bank should I take my business to?
I have also decided to remove the major chunk of money from HDFC and maybe downgrade to a Preferred or whatever is the mid-tier. There service is consistently mediocre.

BHPians pleasee guide me on a new bank.
Is ICICI or Kotak worth having a big relationship with?

[dheer4]

Originally Posted by ZMG

BHPians pleasee guide me on a new bank.
Is ICICI or Kotak worth having a big relationship with?

So far, I've held a Wealth Management account in ICICI bank and it has been really good. UPI is never down nor is the communication to any relationship manager. I can pickup my phone and dial to my relationship manager and he picks up every-time.(Your mileage may vary.)

Interface is good and has everything I need. The net banking is far ahead of the ones in HDFC.

I've never held an account in Kotak so can't comment on that. Hope this helps

[locusjag]

I've just opened an account with IndusInd Bank and their services and online portal are sleek and remind me of Citibank. I'm going to probably close my Citi account and move over to IndusInd completely.

[Aroy]

Originally Posted by ZMG

Even though HDFC has good products (credit cards) - people like these are making me believe that I am better off with my humble ICICI and Kotak cards.

..................

BHPians pleasee guide me on a new bank.
Is ICICI or Kotak worth having a big relationship with?

I have accounts in all the three - HDFC, ICICI and Kotak.

HDFC sucks in online services, but offers the best Foreign exchange rates. Their credit cards also offer a lot of benefits.

Kotak is basically run of the mill bank which excels in none, but gives reasonable service, though.

For sheer banking experience I find ICICI the best. Their online portal is way ahead of the other two. Most of the time their FD rates are a tad better. As I have no use for exotic cards, I use ICICI Platinum (20 years) and ICICI Amazon for most of my daily needs. Both are LTF.

If you travel a lot (especially abroad) then you should consider AMEX Charge card, as they have the best service and replacement policy - one day replacement, fraud prevention etc, which most Visa cards can not match.

[ZMG]

Thank you for your feedback guys.
I guess I will look at upgrading my relationship with ICICI to a higher tier.

HDFC has been horrible.
Will definitely move out.

Thanks again

[ZMG]

Hey guys,

Wanted to share an update about HDFC bank - as an Imperia customer - I sent them an email complaining about the RM and bank manager.
Guess what - they are still not bothered

I am not implying that I give them a very big chunk of their business - but if this is how they behave with their so called "HNI" customer base - how pathetic will they behave with others and also if ever there is a transaction mistake or anything.

I am glad to have seen this behavior before I moved funds from Citibank to this "private bank".

If any HDFC officials are reading this - you guys are giving SBIs "lunch-break" tough competition

[V.Narayan]

I used to bank with HSBC from c.1990 to 2014. Over the last 4 years of that long tenure their services and back office went downhill. In 2014 I shifted lock stock and barrel to Kotak Mahindra Bank, Gurgaon - savings, current, securities and have found their services to be efficient, sensible and helpful. And most usefully the RM doesn't change every year. My first RM moved out on a promotion after 7 years. And the Senior Vice President hasn't changed either in all this time. I value stability. Any member in Gurgaon who wants to contact my RM for advice is free to do so at noorie.singh@kotak.com

HDFC used to be a good bank for retail till about 2010 but has gradually become everything to everyone as a consequence of which it satisfies no one segment fully.

[prabhu7944]

Originally Posted by Nikhilb2008

I'll be starting work soon and need to open a bank account.

I have an account in Syndicate bank but I dont like it.


Personally, I have something against ICICI so I would prefer Citi. But if ICICI's service is way better, I would choose that.

Citi's retail business is getting sold to axis bank. Hence you may look at hdfc or icici. Both are amongst large bank hence you can avail almost all services and offers. If you get to maintain higher balances or investments (which is called relationship value) you can get most of the services at lower cost.

Originally Posted by ZMG

I am in a dilemma here just as some other BHPians.
My dad has been a citigold member since early 2000s.
Although Citibank gives very low rate of interest on FDs and saving accounts, the service has been top-notch.
I realised how good Citibanks service is after I dealt with HDFC 4th block Koramangla branch, in Bangalore.

BHPians pleasee guide me on a new bank.
Is ICICI or Kotak worth having a big relationship with?

At kotak nothing moves except for chairs. I have an OD account for which I gave closure request in Dec 21 and still waiting for it to be closed. However how good a bank is dependent on how good your RM is. Having a good and knowledgeable RM helps than the bank.

[ToThePoint]

Originally Posted by ZMG

BHPians pleasee guide me on a new bank.
Is ICICI or Kotak worth having a big relationship with?

Head straight to ICICI. I am a long standing customer and very happy with them.

Infact, every other bank seems like a downgrade And this even after they are past their prime which was 3-4 years ago. Still no Bank has been able to match up to their level.

[Latheesh]

Originally Posted by prabhu7944

Citi's retail business is getting sold to axis bank. Hence you may look at hdfc or icici. Both are amongst large bank hence you can avail almost all services and offers. If you get to maintain higher balances or investments (which is called relationship value) you can get most of the services at lower cost.

You replied to a post that was posted ~14 years ago