[shipnil]

Originally Posted by meerkat

So much for 'Real Time Settlement', as practiced by Axis!

.

I have faced issue with RTGS on 1st April. I think there is some RTGS holiday list of RBI and 1st April is one of the day. I had transferred funds from SBI to HDFC which credited on 2nd April.

[condor]

Originally Posted by Chetan_Rao

ICICI's 'Privilege Banking' is absolute hogwash, but their online banking channel is probably the most hassle-free I've experienced.

+1. But their branches .. in one instance, I presented a cheque for cash withdrawal after the staff "confirmed" that there is sufficient balance. But when she tried to process the cheque, boom !

Another oft happening point - they will solicit for FD etc even when the balance is not much. And this has happened even immediately after the same person (teller) has given me the withdrawn cash - and should have seen the balance in the account.

*

I am still searching for a bank that doesnt have too much hassle for both on-line transactions and branch interactions.

[meerkat]

Originally Posted by udzgodfather

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.

Thanks for the suggestion. Actually I've had quite unsatisfactory experience with Kotak years back in Bangalore. Nothing could be accomplished at the branch, with every trivial thing being pushed to the 'back end' forever! Must have been one of my worst experiences with any bank! I'm sure they've improved a lot since, but I'd consider warming up to them again only after exhausting other options. In any case, they are far from being one of the SIBs, so would be out of my consideration at this point anyway.

Originally Posted by shipnil

I have faced issue with RTGS on 1st April. I think there is some RTGS holiday list of RBI and 1st April is one of the day. I had transferred funds from SBI to HDFC which credited on 2nd April.

Are you sure of this holiday list? The whole of 1st April can't be on that list, because my RTGS from IndusInd to HDFC went through just fine around 11 am! Could it be an issue with SBI rather than with RBI? But then my IMPS from SBI to HDFC went through around 10:40 am! When did you book your RTGS? If there indeed is such a list about transfer holidays, where can one find it? Thanks.
.

[shipnil]

Originally Posted by meerkat

But then my IMPS from SBI to HDFC went through around 10:40 am! When did you book your RTGS? If there indeed is such a list about transfer holidays, where can one find it? Thanks.
.

I could find following link for 2023.
https://www.fincobank.com/RTGS-Holiday/

Also, the IMPS transaction are routed through NPCI switch while the RTGS and NEFT are routed through RBI. Even my credit card payment done on 1st April through NEFT from HDFC was posted on 3rd April.

[sahil624]

RTGS is now 24X7 operational. There is no holiday list published by RBI for the same.

[shipnil]

Originally Posted by sahil624

RTGS is now 24X7 operational. There is no holiday list published by RBI for the same.

Any way to explain the 3 big banks, Axis, HDFC and SBI all together failed to complete RTGS on 1st April?

[meerkat]

Originally Posted by thanixravindran

... one literally has to navigate multiple places to even get a past statement. ... when I made a FD, the FD advice email came after 10 days.

I don't know yet if the Imperia interface would change things for the worse. However, with the regular interface I've had no issue with finding past statements easily enough. FD advices usually come by email within 2-3 days to me. In any case, they issue a temporary advice right away on opening an FD, so this is not a big issue for me. By contrast, Axis takes at least a day to make an advice available online. Email advices could take anything from 2-4 days to missing it altogether!

On the contrary, I am at ease with ICICI Bank web interface...

Originally Posted by Chetan_Rao

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

ICICI's ... 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.

... ICICI has been the most 'just let me be' banker I've had so far.

I'll discuss below why I won't consider ICICI. But first about the online experience (which is not a dealbreaker, BTW, but not a big enticement either. I'm glad that you guys are happy with it. But I believe it depends, at least to some extent, on what one gets used to first. I've been using HDFC netbanking for 10 years now. It works for me, mostly (I like SBI better).

ICICI online (exclusively on laptop) however, I never acquired a taste for! It feels too cluttered with 'ads' for their own products everywhere, like a minefield almost!

I signed up for monthly e-statements which I never receive for some reason! The ones I get to download from netbanking contain no useful information. Why even have them?! Thankfully date-range statements are available.

Credit card e-statements that I receive by e-mail can't be opened by their password clue for some reason! I've never gotten around to asking them to fix it, since I can download it via netbanking, which is an added hassle nonetheless.

Paying my credit card bill even from my own account is unnecessarily complicated, -- after everything else I have to finally input 3 pairs of numbers off three lettered boxes on the back of my debit card (which I have no other use for)! To make payments to my own card from my own SB account??? It is far too complicated even for making payments to third parties! What added security that other banks never felt any need for? So I ended up never using my ICICI SB account to make money transfers (i.e. basically never using the account)! I even pay my ICICI CC bills from third party apps now! Hassle free experience?! Any other bank, including HDFC, is superior in this respect! HDFC even have the smarts to not requiring an OTP if one needs to decrease third party transfer limits. Such small details do count.


Anyway, such varied experiences of members kind of sounds like the modern version of the story about blind people trying to describe an elephant . Please don't get offended, - I'm one of them myself. Perhaps it stems from the semi-professional and rather non-uniform banking culture that is so prevalent in India. Even for one particular bank one's personal experience can depend to a significant degree on which particular branch one deals with at what point in time, who happened to be the branch head at that point, how experienced and influential s/he was in dealing with various different departments in the hierarchy of that particular bank ...
Even with netbanking, which particular aspects one has or has not faced with, whether one has faced some issues and how those were or were not resolved efficiently and effectively, and so on ...

It is kind of amusing how that KYC at ICICI thread has coincidentally come alive again! I must say, It doesn't go in favor of ICICI. However, I'll only recount my own experiences here, about how that particular bank deals with issues that may arise from time to time. The bank publishes some of their policies online. It's quite a different matter whether they live up to those in practice themselves!

1. A senior citizen in the family wanted to prematurely close an FD and reinvest at the current higher rate. The bank has a clear policy in this regard that is detailed on their website. However, their 'system' indicated an effective rate that was less than what it should have been according to their own premature withdrawal policy, and, consequently, an amount that was substantially less than what was expected! No, there was no scope of any miscalculation on our part. All it takes is a few minutes of one's time, but the branch head was adamant that their 'system' could not be wrong (apparently she has never heard of "garbage in, garbage out. The software, apparently, wasn't programmed right to make it consistent with their own rules!), and that we needed to write to the customer service, who would forward it in turn to the 'back end', and a turn around time could not be promised. All the while the FD holder will keep losing money at the much lower rate. Meanwhile, the FD has now run over to the next FY, with the added complication of the already compounded interest for the previous FY and the consequent tax payable.

2. I wanted to purchase RBI FRSBs online from ICICI. I followed the relevant links given on their website until I was required to check a box indicating I had read the relevant T&C. The corresponding link, however, pointed to no such thing! So, I was supposed to check the box blindly! The branch head was not of any help either. It later transpired that even checking that box would not allow one to purchase FRSBs online anyway, -- because apparently the Bank has purposely designed it not to work! Investments in Government accounts must not be remunerative enough for the private banks, so they don't make it easy. Online links are apparently just place holders designed never to work (it's the same story at Axis and at HDFC as well)! If customers absolutely insist, they can sometimes run down to a branch and be prepared to take the pain to open such accounts physically (as I was allowed to do at my ICICI branch). The Government, of course, can always brag that so many private banks are also offering these products!

3. ICICI have defined TRV on their website to consist of 'FDs' and 'Bonds/ Small Savings' amongst others. I had some money to invest in such products, and opened an FD and an RBI FRSB with them. I had more to invest, and asked for a clarification about my TRV status, only to find the Bank to be non-committal. The RM didn't know of course, and the branch head feigned not to know either, escalating my query. Later I was informed verbally that RBI Bonds were not included in TRV calculation! So "Bonds" actually excluded Government bonds!!! Then what about "Small Savings"? Are they not Government products as well?!

So I asked for written clarification from the customer service as well as the privilege banking support. For months my query was bounced around like a hot potato from one department to another (even to their RBI Bonds department! For TRV policy?!!!), only never to give me a simple clear written explanation of their own TRV policy! Eventually they fell completely silent, without answering my query!

I could have chosen to escalate it to the ombudsman in order to extract a written answer, but decided it was much easier to take my money elsewhere. ICICI ended up getting only a tiny fraction of what I had to invest at that point, and no hope of getting more business from me or my family in the foreseeable future! Indian businesses either don't realize that satisfied customers bring in more business, or they count on always having access to billions others that are less demanding and would not ask uncomfortable questions!

Be that as it may, I, for now, have decided to try out the premium banking version of a familiar evil, HDFC.
.

[Chetan_Rao]

Originally Posted by meerkat

... it depends, at least to some extent, on what one gets used to first...

We're all quirky and eccentric in our own ways

I'll tell you one thing though, there is no real hassle-free customer service experience out there, not anymore.

Even the much-lauded Amex, considered the gold standard of financial customer service by most, recently made a mess of a simple CKYC update that took multiple calls to explain and resolve. All very professionally done by soft-spoken individuals, but required me on the phone more times and much longer than I'd prefer to be.

You pick your poison and get used to the taste, is all.

[meerkat]

Originally Posted by shipnil

Any way to explain the 3 big banks, Axis, HDFC and SBI all together failed to complete RTGS on 1st April?

Any way then to explain how my RTGS from IndusInd to HDFC has gone through at 11 am on 01-04-2023 ?

Also, did you notice that the 2023 RTGS Holidays link you posted above shows dates from 2017 ?!

Anyway, RTGS has indeed been mandated to run on a 24x7 basis from 14-12-2020 according to this RBI Notification :

https://www.rbi.org.in/Scripts/Notif...d=11998&Mode=0

Quote:

3. Members are advised to put in place necessary infrastructure to provide RTGS round the clock to their customers. RTGS transactions undertaken after normal banking hours are expected to be automated using ‘Straight Through Processing (STP)’ modes.

4. Members are further advised to disseminate information on the extended availability of RTGS to all their customers.

.

[Comrade]

All banks only want one thing from customers. To open more accounts, specifically loans & investments.

Usually I hate going to banks but recently I had to visit my local ICICI branch as I had very unique request. I wanted to get my bank account linked to my Direct Benefit Transfer (DBT) changed from Axis to ICICI. The fellows there, including the manager, feigned ignorance when I tried to explain what a DBT is, and explain govt products like gas subsidy, crop loan insurance, rythubandhu etc. I even showed them Central govt’s UIDAI website and their own website about DBT but they did not put even an ounce of enthusiasm to help me. While I was sitting there like a lifeless brick waiting for someone to help me, the manager started giving pep talk about bringing more SIPs, current accounts, personal loans etc. I had to leave with bitter feelings!

I later learnt that I could submit DBT bank change request on ICICI’s netbanking itself!! Irony that ICICI employees don’t know such basic information!

[Aroy]

Banking experience at branches is totally dependent on individuals. I have accounts in multiple banks, and find that the professionalism and enthusiasm varies greatly. Some are nice and proactive, while others have an attitude that they are doing you a favour. There is no hard and fast rule. The service level will change when individuals change. So you have to bear with this and hope your physical branch has a few good people.

Regarding net banking, I find ICICI the easiest to log in (password only) while Kotak the most irritating (password, captcha and then OTP). HDFC is inbetween.

On the other hand money handling with ICICI is most painful as they require additional verification using debit card.

So it is upto you to figure out what suits you. There no best or worst bank here.

[professor.march]

My recently joined organization is giving a choice of ICICI, HDFC and Yes Bank for salary account. Which one will be a better option? I'm based in gurgaon at present.

[Eddy]

Originally Posted by professor.march

My recently joined organization is giving a choice of ICICI, HDFC and Yes Bank for salary account. Which one will be a better option? I'm based in gurgaon at present.

I find online banking and overall service integration in ICICI to be slightly better than HDFC. Even the in-branch experience at ICICI was better because somehow it was less crowded than HDFC, even though the branches were right next to each other (Dwarka, New Delhi).

If I were to choose again, ICICI it would be. I have no experience with Yes Bank, but I don't see any reason to pick it over the two biggies.

[ValarMorghulis]

Originally Posted by professor.march

My recently joined organization is giving a choice of ICICI, HDFC and Yes Bank for salary account. Which one will be a better option? I'm based in gurgaon at present.

Pick either of ICICI or HDFC (which ever has a branch near to your house; just in case).
Avoid Yes Bank.

[condor]

Is anyone seeing issues with Kotak Bank net banking ?

I am getting mails for other userS to my mail id.