Which bank to open an account in?

Nikhilb2008 · 3rd September 2008, 14:22

I opened an account in ING Vysya as my company banks with them. All employees of the company have accounts with them.

I opened na ING Vysya Orange Savings account. Not a salary account. I have to keep 5k minimum balance, but I guess I'll manage that.

pedrolourenco · 11th May 2009, 16:22

Stay away from ICICI. They WILL cheat you.
I=I
C=Cheat
I=Indian
C=Customers
I=Infinitely

Thad E Ginathom · 11th May 2009, 17:14

Stay away from Axis. They don't even bother to reply to your complaints.

phamilyman · 11th May 2009, 18:33

ING Vysya. Painless service over almost 2 years - very decent fellows - limited investment options though (neither bnp paribas, nor sbi magnum funds for ELSS). Else they do everything a person needs.

benbsb29 · 11th May 2009, 19:54

Citibank with whom i have a salary account (Suvidha) has treated me quite well over the last 3 years i have been with them. No chance for any complaints, and they have been quite prompt with replying to emails which i raise from my banking account.

However, one bad experience was when my bro who visited their branch to deposit money in my account and was charged Rs.300/- i believe. Ignorance from my part, and greedy on the part of the bank. They could have atleast informed my bro who would then have declined the transcation.

That apart, its been good sailing so far, with a rather safe Netbanking which i use for funds transfers, bill payments (free service), reward points on debit card usage, cash upon redemption of these accumulated points along with a gift, and so on.

ICICI : I have a salary account with them from my previous company. I use this account for fund transfers, and also ECS facility for my mobile bills. Havent really had too many complaints here either. Vast network of ATMs was a boon but now that has been matched by my Citibank account which gives me access to any ATM, including SBI for free.

I havent felt the need to use the services of any other bank besides these two, as my requirements are covered by these alone. Wold be good to have an SBI account, though.

gowda79 · 11th May 2009, 19:57

Best is to go with the State Bank Of India or any State Banks for that matter, government owned and safety for the hard earned money.

bhp1 · 11th May 2009, 20:24

Avoid ICICI & HDFC, Ive had bad experiences with both.
I completely agree with what Gowda says, State banks are safer bet.

BaCkSeAtDrIVeR · 11th May 2009, 21:14

I have accounts with State Bank of Travancore and Canara Bank.

With SBT, I can, for a small fee, remit cash into my account from any of their branch. (this used to be free till a few months back). This is a boon since I am a govt. servant, and draws salary from treasury. So, for me, simply draw cash from treasury counter, and remit it into my a/c from the normal counter. From a few weeks back, I can also put cash directly into my account from the treasury. The bonus is ATM cum debit card (Rs. 50/- per year fee - from previous year - and a wide ATM network. ;-)

I also have access to their online banking.

Wifey has her account only with SBT. She pays no fees since she is an employee

With Canara Bank, the particular branch I have my account with opens at 9 AM. They provide an atm cum debit card, and I can make online payments using this card without any need to have an online banking account. Canara bank is still in the process of computerising their branches, and my branch is not yet online. ;-( But the work is progressing at the branch right now, so hopefully, waiting would be less than a few weeks more.

In both cases, it is a long time since I visited the parent branches.

The queues in both banks are no longer a terror for me.

Why?? My experience with ICICI and HDFC!!!

True, there are no queues at ICICI. They have instead implemented a "token" system. There is no parking outside the bank (all banks would be equal culprits here), but no sitting space for customers INSIDE the premises!!! The only visit to that branch was a nightmare experience for me, sister and nephew.

When my account goes below the minimum balance in either of my banks, I may be penalised may be a 100. For sister, HDFC was coureteous enough to refund her last balance by DD when her a/c went dormant. (I think she asked for the money pretty promptly).

kannan666 · 11th May 2009, 22:10

I have bank accounts with SBI, HSBC, HDFC, ICICI, Citibank, Axis, Corporation and Indian and maybe I have been extremely lucky but I've got no cause for complaint, service for all of them have been good. I would rate them as follows : HSBC, Citi, HDFC, ICICI, SBI, Corporation, Indian and Axis. Min balance in HSBC is a little steep though at 25K but I guess that's why their service is excellent ! ICICI is salary account, rest are SB accounts.

Thad E Ginathom · 11th May 2009, 22:47

Anyone have any opinion of Indus Ind?

Raccoon · 12th May 2009, 01:06

Quote:

Originally Posted by bhp1

Avoid ICICI & HDFC, Ive had bad experiences with both.
I completely agree with what Gowda says, State banks are safer bet.

Been with HDFC for quite sometime. Have had a few tiffs, but have always been solved to my satisfaction. No way SBI will have that kind of service! In fact I went twice to the branch near my place. Once to open an FD and once for a SB a/c. In short the attitude and treatment I experiened there made me just dash out of the door...

Had a similar experience with the Bank of Baroda near my place. I'm convinced they only hire top grade retards who rot there till the end of their lives. Social service I guess.

I can't stand such businesses. I'm no masochist. So I prefer HDFC.

But I feel in the end the particular branch also matter. One of my friends who tried HDFC at another end of town did not have a pleasant experience, and eventually terminated his a/c.

Thad E Ginathom · 12th May 2009, 21:29

We have opened a number of FDs at nationalised banks recently, having fallen out with Axis over their service. None of them are enough to make us a really big customer to any single bank (err... the total is modest, considering it has to last a lifetime) but we still find that they are very anxious to get our custom. Even the nationalised banks get targets these days.

lurker · 18th November 2009, 12:26

i have a question. When a transfer over NEFT is done at night, after midnight since that is the next day. Do the banks religiously clear those in the queue at 9:00 a.m. clearing time or it depends upon their whim and fancy ?

the reason I ask this query is that the amount has been debited from my a/c but not yet credited to the other banks' (ICICI) a/c and I did the transfer after midnight in the expectation that all the transfers in the queue would be cleared at 9:00. but the amt has not been debited into the receiving bank's a/c even at 10:30 a.m. which is the second clearing cycle.

lurker · 18th November 2009, 14:41

update: Using NEFT facility after 9:00 a.m. and before 3:00 p.m. is safest for ensuring timely transfer. Looks like the transfers that are in queue 'after NEFT hot hours' are updated as and when the receiving banks feels like.

Seeler_Rebeiro · 18th November 2009, 14:45

Whatever you guys do, do not have an account with a bank as well as a credit card from the same bank. In case of a dispute with the credit card dept., they will first grab hold of your money and then you run from pillar to post to sort out the issue.
So have an account with say HDFC but hold ICICI Credit card etc..

My experience has been - from good to bad
1) HDFC - Good
2) IDBI - Good
3) Bank of BAroda - Good
4) Dena Bank - Bad
5) ICICI - Worst.

3rd September 2008, 14:22	#61
Nikhilb2008 Distinguished - BHPian Join Date: Jul 2006 Location: Bangalore Posts: 5,198 Thanked: 10,166 Times	I opened an account in ING Vysya as my company banks with them. All employees of the company have accounts with them. I opened na ING Vysya Orange Savings account. Not a salary account. I have to keep 5k minimum balance, but I guess I'll manage that.
	() Thanks

11th May 2009, 16:22	#62
pedrolourenco BANNED Join Date: Apr 2009 Location: Margao, Goa Posts: 1,468 Thanked: 1,999 Times View My Garage Infractions: 0/1 (5)	Stay away from ICICI. They WILL cheat you. I=I C=Cheat I=Indian C=Customers I=Infinitely
	() Thanks

11th May 2009, 17:14	#63
Thad E Ginathom Distinguished - BHPian Join Date: Jun 2007 Location: Chennai Posts: 11,336 Thanked: 29,271 Times	Stay away from Axis. They don't even bother to reply to your complaints.
	() Thanks

11th May 2009, 18:33	#64
phamilyman Senior - BHPian Join Date: Jul 2007 Location: Gurgaon Posts: 5,976 Thanked: 4,668 Times	ING Vysya. Painless service over almost 2 years - very decent fellows - limited investment options though (neither bnp paribas, nor sbi magnum funds for ELSS). Else they do everything a person needs.
	() Thanks

11th May 2009, 19:54	#65
benbsb29 Team-BHP Support Join Date: Nov 2006 Location: Brisbane Posts: 10,071 Thanked: 14,028 Times View My Garage	Citibank with whom i have a salary account (Suvidha) has treated me quite well over the last 3 years i have been with them. No chance for any complaints, and they have been quite prompt with replying to emails which i raise from my banking account. However, one bad experience was when my bro who visited their branch to deposit money in my account and was charged Rs.300/- i believe. Ignorance from my part, and greedy on the part of the bank. They could have atleast informed my bro who would then have declined the transcation. That apart, its been good sailing so far, with a rather safe Netbanking which i use for funds transfers, bill payments (free service), reward points on debit card usage, cash upon redemption of these accumulated points along with a gift, and so on. ICICI : I have a salary account with them from my previous company. I use this account for fund transfers, and also ECS facility for my mobile bills. Havent really had too many complaints here either. Vast network of ATMs was a boon but now that has been matched by my Citibank account which gives me access to any ATM, including SBI for free. I havent felt the need to use the services of any other bank besides these two, as my requirements are covered by these alone. Wold be good to have an SBI account, though.
	() Thanks

11th May 2009, 19:57	#66
gowda79 Senior - BHPian Join Date: May 2007 Location: Bengaluru Posts: 1,478 Thanked: 194 Times View My Garage	Best is to go with the State Bank Of India or any State Banks for that matter, government owned and safety for the hard earned money.
	() Thanks

11th May 2009, 20:24	#67
bhp1 BANNED Join Date: Jul 2008 Location: NA Posts: 513 Thanked: 4 Times	Avoid ICICI & HDFC, Ive had bad experiences with both. I completely agree with what Gowda says, State banks are safer bet.
	() Thanks

11th May 2009, 21:14	#68
BaCkSeAtDrIVeR Senior - BHPian Join Date: Jun 2007 Location: Kochi Posts: 2,541 Thanked: 756 Times	I have accounts with State Bank of Travancore and Canara Bank. With SBT, I can, for a small fee, remit cash into my account from any of their branch. (this used to be free till a few months back). This is a boon since I am a govt. servant, and draws salary from treasury. So, for me, simply draw cash from treasury counter, and remit it into my a/c from the normal counter. From a few weeks back, I can also put cash directly into my account from the treasury. The bonus is ATM cum debit card (Rs. 50/- per year fee - from previous year - and a wide ATM network. ;-) I also have access to their online banking. Wifey has her account only with SBT. She pays no fees since she is an employee With Canara Bank, the particular branch I have my account with opens at 9 AM. They provide an atm cum debit card, and I can make online payments using this card without any need to have an online banking account. Canara bank is still in the process of computerising their branches, and my branch is not yet online. ;-( But the work is progressing at the branch right now, so hopefully, waiting would be less than a few weeks more. In both cases, it is a long time since I visited the parent branches. The queues in both banks are no longer a terror for me. Why?? My experience with ICICI and HDFC!!! True, there are no queues at ICICI. They have instead implemented a "token" system. There is no parking outside the bank (all banks would be equal culprits here), but no sitting space for customers INSIDE the premises!!! The only visit to that branch was a nightmare experience for me, sister and nephew. When my account goes below the minimum balance in either of my banks, I may be penalised may be a 100. For sister, HDFC was coureteous enough to refund her last balance by DD when her a/c went dormant. (I think she asked for the money pretty promptly).
	() Thanks

11th May 2009, 22:10	#69
kannan666 Senior - BHPian Join Date: Aug 2007 Location: KA-02 Posts: 1,004 Thanked: 133 Times View My Garage	I have bank accounts with SBI, HSBC, HDFC, ICICI, Citibank, Axis, Corporation and Indian and maybe I have been extremely lucky but I've got no cause for complaint, service for all of them have been good. I would rate them as follows : HSBC, Citi, HDFC, ICICI, SBI, Corporation, Indian and Axis. Min balance in HSBC is a little steep though at 25K but I guess that's why their service is excellent ! ICICI is salary account, rest are SB accounts.
	() Thanks

11th May 2009, 22:47	#70
Thad E Ginathom Distinguished - BHPian Join Date: Jun 2007 Location: Chennai Posts: 11,336 Thanked: 29,271 Times	Anyone have any opinion of Indus Ind?
	() Thanks

12th May 2009, 21:29	#72
Thad E Ginathom Distinguished - BHPian Join Date: Jun 2007 Location: Chennai Posts: 11,336 Thanked: 29,271 Times	We have opened a number of FDs at nationalised banks recently, having fallen out with Axis over their service. None of them are enough to make us a really big customer to any single bank (err... the total is modest, considering it has to last a lifetime) but we still find that they are very anxious to get our custom. Even the nationalised banks get targets these days.
	() Thanks

18th November 2009, 12:26	#73
lurker Senior - BHPian Join Date: Jun 2006 Location: Tura Posts: 1,609 Thanked: 1,447 Times	i have a question. When a transfer over NEFT is done at night, after midnight since that is the next day. Do the banks religiously clear those in the queue at 9:00 a.m. clearing time or it depends upon their whim and fancy ? the reason I ask this query is that the amount has been debited from my a/c but not yet credited to the other banks' (ICICI) a/c and I did the transfer after midnight in the expectation that all the transfers in the queue would be cleared at 9:00. but the amt has not been debited into the receiving bank's a/c even at 10:30 a.m. which is the second clearing cycle. Last edited by lurker : 18th November 2009 at 12:28.
	() Thanks

18th November 2009, 14:41	#74
lurker Senior - BHPian Join Date: Jun 2006 Location: Tura Posts: 1,609 Thanked: 1,447 Times	update: Using NEFT facility after 9:00 a.m. and before 3:00 p.m. is safest for ensuring timely transfer. Looks like the transfers that are in queue 'after NEFT hot hours' are updated as and when the receiving banks feels like. Last edited by lurker : 18th November 2009 at 14:59.
	() Thanks

18th November 2009, 14:45	#75
Seeler_Rebeiro BHPian Join Date: Jun 2008 Location: Mumbai Posts: 277 Thanked: 113 Times	Whatever you guys do, do not have an account with a bank as well as a credit card from the same bank. In case of a dispute with the credit card dept., they will first grab hold of your money and then you run from pillar to post to sort out the issue. So have an account with say HDFC but hold ICICI Credit card etc.. My experience has been - from good to bad 1) HDFC - Good 2) IDBI - Good 3) Bank of BAroda - Good 4) Dena Bank - Bad 5) ICICI - Worst.
	() Thanks

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