[skanchan95]

Originally Posted by vinu_h

I received the refund in 30 mins and a ton of apologies

Good to see your issue resolved . These days one must keep checking the bank/loan statements for any unfair or suspicious debits. Banks now have a nasty tendency to charge for services which they are not supposed to charge i.e NEFT/RTGS charges and in your case Insurance charges.

[meerkat]

Hello friends,

Need your advice on starting a premium banking experience at a different bank.

I already have a decade old relationship with HDFC Bank (albeit only as a regular savings account and a credit card holder). Quite dissatisfied with the service quality of Axis Bank (as a Burgundy customer too), I'm now wondering whether upgrading my HDFC relationship to Imperia would gain me anything. I'd very much appreciate any advice from members already having that experience.

I'm certainly no fan of the service levels of HDFC Bank (which, in my experience, must be one of the most opaque of banks, trying to hide most information from customers by default). I wonder if things improve any for premium banking customers. For example, I find pretty much nothing beyond just the basics for my FDs with them! Are things any better for Imperia? IDBI provides very detailed information about FDs. Axis does too (although to a lesser extent).

But my overall experience with Axis as a Burgundy customer is atrocious! People migrating to Axis from Citibank are in for a real shock! The RM, and even the Branch Head of my home branch are apparently quite powerless against the extremely poor culture of the bank. The Customer Service is not very helpful most of the time either, and usually works against getting a quick resolution to any issue by acting as an inefficient intermediary between the customer and the concerned people. Service Requests are closed without notice and without giving any resolution whatsoever! I was informed that they are supposed to close any SR within the bank-mandated TAT, irrespective of whether or not a resolution was found!!! Customers are just supposed to open a fresh SR, if not satisfied! ... And the cycle goes on ...

* Their IT department is totally messed up as well, resulting in a poor netbanking experience among others (with many things staying broken for ages). Netbanking experience of many other banks are much better (including that of SBI, HDFC, IndusInd etc...)!

* I can't even send emails to them from my outlook address, although I receive theirs. It used to work to start with, but now is broken for ~18 months, with no resolution in sight!

* Even basic services like TDS Certificates are usually delayed by months from the RBI guideline. Other banks are much better.

I also often wonder, in spite of Axis being of a comparable size to ICICI, what prevents RBI from including them in their periodic SIB ("Too Big To Fail") lists?! Do they know something we don't?!


My premium banking experience at IDBI used to be very good, but not any more, and there obviously are other reasons now for staying away from that bank.

My experience as a Privilege Banking customer of ICICI Bank has been quite unsatisfactory, so I'm not keen on upgrading my relationship with them. So I don't really have too many choices amongst the larger private banks. I am not expecting anything remotely close to a Citibank-level experience. I'd be happy enough if things work most of the time, and if I can stay away from having to approach the bank too frequently. Do I have any hope?! Can HDFC Imperia be the answer? Thanks for any help.
.

[ValarMorghulis]

Originally Posted by meerkat

... I'm now wondering whether upgrading my HDFC relationship to Imperia would gain me anything. I'd very much appreciate any advice from members already having that experience.
...Can HDFC Imperia be the answer?

Sorry for the dampener, but don't expect anything extraordinary being an Imperia customer. They do provide you with a dedicated RM (who calls but is quite useless).

Another facility for an Imperia customer is free locker, but try getting one! I have searched branches across HSR, Sarjapur and Koramangala in Bangalore, to no avail. Everywhere it is the same reply: "no lockers available".

But I have nothing to complain about regarding HDFC.
Have experience across SBI, ICICI, Citi, IDBI & HDFC.

[meerkat]

Originally Posted by ValarMorghulis

Sorry for the dampener, but don't expect anything extraordinary being an Imperia customer. They do provide you with a dedicated RM (who calls but is quite useless).

No, I don't expect anything extraordinary. As I said, I'd be happy enough to have a mostly problem-free relationship with all basic things working as expected, and if I don't need to contact the bank every other day to resolve trivial issues. I've usually had HDFC deliver on their promises without me having to ask them. The default mode of Axis that I have gotten used to is having to ask them repeatedly to deliver on their promises almost every time!

In my experience, having a competent RM is a matter of luck. I was lucky to have one at Axis to begin with (although with not much power to get things done in a reasonable time, - but that had more to do with the awful bank culture). But he was soon replaced with one quite useless.

The one alloted to me at ICICI was even less than useless, having no clue to most of the things I needed help with!

IDBI allowed me direct access to the branch heads (some I even became good friends with), so I didn't really need help from RMs (however, I found out that I could not expect similar experience at non-home branches, notwithstanding their promise of all-branch banking for premium customers). Its a pity the bank is in such poor straits now.

Another facility for an Imperia customer is free locker, but try getting one! I have searched branches across HSR, Sarjapur and Koramangala in Bangalore, to no avail. Everywhere it is the same reply: "no lockers available".

No surprise there. I never got the free locker advertised by IDBI in 10 years since I was put in a "wait list". Rather I'd be surprised if anyone ever got such a 'free locker'! Why would they ever provide one free when they already have your business and can always get away with the claim of no lockers being available?

But I have nothing to complain about regarding HDFC.

That is reassuring. I'd take not having strong negative feelings as a recommendation! Thanks.
.

[prabhu789]

Hello Folks, I am planning to open ICICI OGTA current account and the main reason behind opening this account is for foreign inward remittances. Could anyone please share your experience on the same? Thanks in advance.

https://www.icicibank.com/business-b...urrent-account

[binand]

Two interactions with HDFC Bank, recently.

1. Like all banks/financial institutions, they too had been pestering me to set up nominees for my account before the deadline of 31/3. But unlike other banks/financial institutions, their process required me to fill a form online, and upon submitting it - to download the resulting PDF, print it, sign it and take it to the branch. So much for their IT enablement.

2. My mother is the old-fashioned type, preferring cheques over fancy electronic methods of payments. A cheque she issued was mis-dated (she wrote X-Y-21 instead of X-Y-22) so when it came for clearance it bounced. HDFC did its thing - charged her Rs. 50 + GST as cost. Now, the vendor who was paid by that cheque simply corrected the date to X-Y-22 and re-presented the cheque for collection, and this time HDFC actually cleared it.

I went to the branch, asked them to request scanned copies of the cheque from their centralised collection team, and compared the two scans of the cheque in the presence of the local branch manager who accepted the matter.

Just stay away from HDFC, folks.

[dmplog]

Originally Posted by meerkat

Hello friends,

Need your advice on starting a premium banking experience at a different bank.
.

Have you considered any foreign banks, such as HSBC Premier or Standard Chartered? Am using HSBC Premier and they are pretty efficient. Disclaimer: I am working in one of their captive Tech centre.

[condor]

Originally Posted by binand

Now, the vendor who was paid by that cheque simply corrected the date to X-Y-22 and re-presented the cheque for collection, and this time HDFC actually cleared it..

That's in a way, Forgery. No corrections are allowed without a signature, even in the date part. You could actually haul both the vendor and the bank over to the banking ombudsman.

*

I happen to have a HDFC account, and wanted to change the branch. I went to the branch where I wanted to move to, but found the vibes similar to two other HDFC banks. Now thinking if I should close the account and move elsewhere.

[binand]

Originally Posted by condor

That's in a way, Forgery. No corrections are allowed without a signature, even in the date part. You could actually haul both the vendor and the bank over to the banking ombudsman.

The ombudsman has no jurisdiction over the vendor.

The correction the vendor did needs to be evaluated under the NI Act (which does provide for such corrections in certain specific cases). I'm simply not amused by the way HDFC's clearance department dealt with the whole thing. The sooner I can end all relationships with HDFC Bank, the better.

My wife and son have both moved their entire banking to Equitas Bank. Some minor irritants but nothing at the scale of HDFC Bank. I also intent to do the same soon.

[Fx14]

Originally Posted by binand

The correction the vendor did needs to be evaluated under the NI Act (which does provide for such corrections in certain specific cases).

Was the correction done authenticated with the account holder's full signature?

[binand]

Originally Posted by Fx14

Was the correction done authenticated with the account holder's full signature?

If that was the case there is no story worth telling here, no?

[meerkat]

Originally Posted by dmplog

Have you considered any foreign banks, such as HSBC Premier or Standard Chartered? Am using HSBC Premier and they are pretty efficient.

Thanks for the suggestion. No, I haven't considered them, being a resident in one of the smaller towns now. While it might be possible to avail of their services through netbanking now, I was not okay with the idea of not having access to a physical branch, just in case. Moreover, I couldn't expect full services in some respects too, e.g. having a credit card. I closed my Citibank account when I moved out of Bangalore. They closed my credit card on their own. I closed my credit card with Standard Chartered myself. Also, I am not comfortable with starting a substantial relationship with a foreign bank in these uncertain times, looking at what happened with Citibank.

In any case, I've already committed to upgrade my relationship with HDFC to Imperia, there basically being no alternative for me in terms of moving away from Axis to another large private bank. ICICI was not an option after having a taste of their services as a 'Privilege' customer.

As I've said earlier, I do not have big expectations from Indian banks, and would be happy enough if basic things work as expected most of the time (which, thankfully, they so far have in my ten-year relationship with HDFC).

As an example of why I'm so exasperated with Axis, here is a very recent experience: I needed to make an urgent 5L RTGS transfer on 01-04-2023. I'd gotten verbal assurances beforehand that, although the branches would be closed, netbanking should work as usual. However, even allowing for temporary closure for maintenance, all transactions on Axis netbanking remained offline for the whole of 01-04-2023! It didn't give any indication of that for RTGS however, and allowed me to proceed, and duly issued me a so called 'SuccessReceipt' around 5 pm on 01-04-2023. The transfer, however, did not go through until ~9:30 am on 02-04-2023, more than 16 hours later, making me miss on my commitment! So much for 'Real Time Settlement', as practiced by Axis!

As a contrast, netbanking transactions worked after 4 pm on 01-04-2023 at HDFC as promised (after temporary closure for maintenance). It worked at SBI and at IndusInd even in the morning of 01-04-2023.

And this was only the most recent example of numerous such unacceptable experiences at Axis. They have managed to set the bar so low that I do not believe that HDFC can go any lower!
.

[udzgodfather]

Originally Posted by meerkat

Hello friends,

Need your advice on starting a premium banking experience at a different bank.


.

You should explore Kotak Mahindra, the amount of things I have seen getting done over a phone call is too amazing to believe. They sure look like people going over means to help you out.

Disclosure- not affiliated with Kotak, friend holds an account.

[thanixravindran]

Originally Posted by meerkat

Thanks for the suggestion.
.

I don't think imperia banking relationship is any different as I have one. HDFC Bank is a sarkari bank under private guise. They have an web interface which is from past century and one literally has to navigate multiple places to even get a past statement. You won't believe but when I made a FD, the FD advice email came after 10 days. I was left wondering about which FD is this

On the contrary, I am at ease with ICICI Bank web interface and don't have to interact with branch, RM or customer support which I know will not be a pleasant one. I never pick their calls and don't have to visit them since I started my account online 3 years ago.

All of this banking relationship programs are just sugar candies to make you feel better. Nothing beyond fancy name and sweet talk. If you really want proper service, go to a good relatively new branch and start a relationship. This is how I am living with my HDFC. The day when I opened my account, I told them if they make me to visit the branch, it will be the last day of my account with them. Till now, they are honouring and relationship is surviving

[Chetan_Rao]

Originally Posted by meerkat

...
My experience as a Privilege Banking customer of ICICI Bank has been quite unsatisfactory...I'd be happy enough if things work most of the time, and if I can stay away from having to approach the bank too frequently...

I agree with both bits, and precisely why I'm confused why you'd want to discard them.

ICICI's 'Privilege Banking' is absolute hogwash, but their online banking channel is probably the most hassle-free I've experienced. I haven't had to call them on the phone for a few years now, and haven't had the misfortune of visiting them for several. I don't even remember when I last logged in via a laptop, the iMobile app does pretty much everything I need without fuss.

Have HDFC, Axis, SBI & IDFC banking relationships amongst immediate family currently, have had Citi and even Deutsche Bank for a bit, but ICICI has been the most 'just let me be' banker I've had so far.