Which bank to open an account in?

24th December 2009, 17:28

@ramki067: Kotak Securities have tied up with Citi Bank, Axis Bank, ICICI Bank, HDFC Bank and Kotak Mahindra Bank for fund transfer. So, you can very well open your online trading and demat accounts with Kotak Securities and use your Citi Bank account for fund transfer. I have online trading and demat accounts with Kotak Securities and saving account with Axis Bank and this arrangement is going fine from the past 4 years. The brokerage charged by Kotak Securities is less than ICICI Direct and the former's service is better than the latter. So, you can go ahead with Kotak Securities.

I have SBI saving accounts with Internet banking facility both in Bangalore and Chennai. I found that SBI offers the fastest Real Time Gross Settlement [RTGS] facility [in addition to NEFT] for fund transfer, but Axis Bank provides National Electronic Fund Transfer [NEFT] only and not RTGS. The fund transfers under RTGS are effected within half-hour between Bangalore and Chennai, whereas NEFT takes a day or two! So, SBI overtakes Axis Bank in this matter!

BenjiRoss · 16th March 2010, 19:07

I will be going on a work Visa for 2 years to Australia.
I would like to start an NRI account in India before I go.
Looking at the options that will not deduct taxes and also that is easy to deposit money and withdraw.
My primary account is with HDFC and it looks pretty good.
Is SBI any better?
I am not keen on ICICI as I really do not trust them.

Any other options?

Do tell me the pros and cons - I am a newbie with regards to banks.

Superleggera · 16th March 2010, 20:22

I have been using SBI for my NRI Acct - just for the matter of "TRUST" - so far no issues and I am a happy customer. I could see great improvements in SBI's customer relationship management and customer friendly attitude over last couple of years and their servives are on par with any other private banks.If you have SBI in mind, go for it.

I heard that Citi Bank is also good, and as you indicated I would never for for ICICI.

raghu230506 · 17th March 2010, 10:24

Hi,

I have an CITIBANK NRI account and I didn't had any issues so far. I used it both from Canada and Europe and it was an hassle free service from them.

I opted it because, it's the same bank I use for all other transactions. I would suggest to stick to your regular bank as they normally give much/some privileges to the existing customers. In my case Citibank waived of minimum amount in the NRI account.

Hope that helps.

Cheers
Raghu

rg_chn · 17th March 2010, 10:38

HSBC is a good option too. We've been using it for long, and the staff are much more professional and helpful than compared to any other banks. They are a bit expensive though, wrt the minimum balances and stuff.
Very very trust worthy, and they go an extra mile to satisfy their customers. Eg- their bank timings in India are 9.00 AM to 3.00 PM, but when im in India, i can't make it to the bank by 3.00, so they keep the bank open till i can make, as long as its a reasonable time, or they come to my place (which is around 35kms from the bank) and get all the work done. I don't think any other bank will do this for you.

COUGAR · 17th March 2010, 10:41

i have been a loyal ICICI customer for over 2 years now and have dollar and euro denominated accounts.

Transfers are relatively quicker, though there have been occassional hiccups.

DCEite · 17th March 2010, 11:37

Regardless of job changes and change in salary account , i have a strategy to keep one permanent private bank account, one permanent PSU bank account and one demat account. Salary accounts can keep changing as we all know.

So my banks are

Private (savings): ICICI Bank
Demat: ICICIdirec (linked to icicibank savings acc)
PSU: Bank of India

ghodlur · 17th March 2010, 12:59

I have been using the banks with which I have had a home loan. Initially it was ICICI then Standard Chartered and now its SBI. But one bank with which I have an account right from my earning days is HDFC. Although I have Citibank account where my salary usually gets credited but thats a zero balance account and I transfer my salary immediately to SBI OD account, helps me save some interest also.
In all I found both pros and cons with the bank I dealt in. Of them SBI is the best.

mjothi · 21st April 2010, 14:10

Is there any charges for getting the Debit card PIN number in case you forget it?

Anyone faced such situation?

MuraliR · 21st April 2010, 15:11

Quote:

Originally Posted by mjothi

Is there any charges for getting the Debit card PIN number in case you forget it?

Anyone faced such situation?

Not heard of any bank charging to issue new PIN.

Most Bank websites now allow you to generate instantly online.

hrishig · 9th June 2010, 08:15

Hi,

Can you tell me what's currently the best rewarding Debit card? I found HDFC gold debit card good as they are giving 1% back on all of your purchase + no surcharge on BP petrol pumps.

Sad part is you need to pay 500 Rs annual fee for this card. But I am not paying any thing for my Credit cards ,then why to pay for debit cards?

Please note that I am not only looking for Fuel card but planning to use it on general purpose.

For fuel card I find Citi IOC gold card most rewarding.

hrishig · 9th June 2010, 14:47

Post deleted by the Team-BHP Support : Please do NOT post one-liners that add little or no informational value to the thread. We need your co-operation to maintain the overall quality of this forum.

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clevermax · 9th June 2010, 14:50

Quote:

Originally Posted by hrishig

Sad part is you need to pay 500 Rs annual fee for this card. But I am not paying any thing for my Credit cards ,then why to pay for debit cards?

I have two HDFC gold debit cards and I am paying nothing as fee - since I am a preferred customer.

I am happy with the card usage till now.

sammyboy · 9th June 2010, 15:03

I have a couple of gold Debit but i never really look for offers for using them so never really checked. DB gives you a high cash withdrawl limit so thats handy. I have never really heard of a fee for the Debit Gold cards so thats news for me too.

Jaguar · 9th June 2010, 15:17

Why do you use debit cards for? I generally use my CC for all purchases and use the debit card just as a regular ATM card.
I remember reading somewhere that CC have more protection against fraud. This is because in case of any fraud transaction on the CC, you can register a complaint and refuse to pay, which forces the bank to investigate properly. In case of debit cards, the money is already gone from your account and banks can take their own sweet time to resolve any issue.

24th December 2009, 17:28	#91
J.Ravi Posts: n/a	@ramki067: Kotak Securities have tied up with Citi Bank, Axis Bank, ICICI Bank, HDFC Bank and Kotak Mahindra Bank for fund transfer. So, you can very well open your online trading and demat accounts with Kotak Securities and use your Citi Bank account for fund transfer. I have online trading and demat accounts with Kotak Securities and saving account with Axis Bank and this arrangement is going fine from the past 4 years. The brokerage charged by Kotak Securities is less than ICICI Direct and the former's service is better than the latter. So, you can go ahead with Kotak Securities. I have SBI saving accounts with Internet banking facility both in Bangalore and Chennai. I found that SBI offers the fastest Real Time Gross Settlement [RTGS] facility [in addition to NEFT] for fund transfer, but Axis Bank provides National Electronic Fund Transfer [NEFT] only and not RTGS. The fund transfers under RTGS are effected within half-hour between Bangalore and Chennai, whereas NEFT takes a day or two! So, SBI overtakes Axis Bank in this matter! Last edited by J.Ravi : 24th December 2009 at 17:45.
	() Thanks

16th March 2010, 19:07	#92
BenjiRoss Senior - BHPian Join Date: Jul 2008 Location: Tamilnadu Posts: 1,070 Thanked: 1,335 Times	NRI Account - which bank to choose? I will be going on a work Visa for 2 years to Australia. I would like to start an NRI account in India before I go. Looking at the options that will not deduct taxes and also that is easy to deposit money and withdraw. My primary account is with HDFC and it looks pretty good. Is SBI any better? I am not keen on ICICI as I really do not trust them. Any other options? Do tell me the pros and cons - I am a newbie with regards to banks.
	() Thanks

16th March 2010, 20:22	#93
Superleggera BHPian Join Date: Mar 2007 Location: Kannur/Boston Posts: 533 Thanked: 819 Times View My Garage	I have been using SBI for my NRI Acct - just for the matter of "TRUST" - so far no issues and I am a happy customer. I could see great improvements in SBI's customer relationship management and customer friendly attitude over last couple of years and their servives are on par with any other private banks.If you have SBI in mind, go for it. I heard that Citi Bank is also good, and as you indicated I would never for for ICICI.
	() Thanks

17th March 2010, 10:24	#94
raghu230506 BHPian Join Date: Jan 2010 Location: Bangalore Posts: 766 Thanked: 64 Times View My Garage	Hi, I have an CITIBANK NRI account and I didn't had any issues so far. I used it both from Canada and Europe and it was an hassle free service from them. I opted it because, it's the same bank I use for all other transactions. I would suggest to stick to your regular bank as they normally give much/some privileges to the existing customers. In my case Citibank waived of minimum amount in the NRI account. Hope that helps. Cheers Raghu
	() Thanks

17th March 2010, 10:38	#95
rg_chn BHPian Join Date: Oct 2008 Location: K.S.A Posts: 343 Thanked: 3 Times	HSBC is a good option too. We've been using it for long, and the staff are much more professional and helpful than compared to any other banks. They are a bit expensive though, wrt the minimum balances and stuff. Very very trust worthy, and they go an extra mile to satisfy their customers. Eg- their bank timings in India are 9.00 AM to 3.00 PM, but when im in India, i can't make it to the bank by 3.00, so they keep the bank open till i can make, as long as its a reasonable time, or they come to my place (which is around 35kms from the bank) and get all the work done. I don't think any other bank will do this for you.
	() Thanks

17th March 2010, 10:41	#96
COUGAR BHPian Join Date: Dec 2005 Location: Delhi Posts: 548 Thanked: 94 Times View My Garage	i have been a loyal ICICI customer for over 2 years now and have dollar and euro denominated accounts. Transfers are relatively quicker, though there have been occassional hiccups.
	() Thanks

17th March 2010, 11:37	#97
DCEite Senior - BHPian Join Date: Sep 2004 Location: NCR Posts: 3,591 Thanked: 3,502 Times	Regardless of job changes and change in salary account , i have a strategy to keep one permanent private bank account, one permanent PSU bank account and one demat account. Salary accounts can keep changing as we all know. So my banks are Private (savings): ICICI Bank Demat: ICICIdirec (linked to icicibank savings acc) PSU: Bank of India
	() Thanks

17th March 2010, 12:59	#98
ghodlur Senior - BHPian Join Date: Sep 2009 Location: Bangalore Posts: 6,252 Thanked: 4,784 Times View My Garage	I have been using the banks with which I have had a home loan. Initially it was ICICI then Standard Chartered and now its SBI. But one bank with which I have an account right from my earning days is HDFC. Although I have Citibank account where my salary usually gets credited but thats a zero balance account and I transfer my salary immediately to SBI OD account, helps me save some interest also. In all I found both pros and cons with the bank I dealt in. Of them SBI is the best.
	() Thanks

21st April 2010, 14:10	#99
mjothi Senior - BHPian Join Date: Dec 2007 Location: Bangalore Posts: 3,290 Thanked: 233 Times View My Garage	Is there any charges for getting the Debit card PIN number in case you forget it? Anyone faced such situation?
	() Thanks

9th June 2010, 08:15	#101
hrishig BHPian Join Date: Apr 2007 Location: Pune Posts: 466 Thanked: 183 Times	Best (General purpose) Debit card? Hi, Can you tell me what's currently the best rewarding Debit card? I found HDFC gold debit card good as they are giving 1% back on all of your purchase + no surcharge on BP petrol pumps. Sad part is you need to pay 500 Rs annual fee for this card. But I am not paying any thing for my Credit cards ,then why to pay for debit cards? Please note that I am not only looking for Fuel card but planning to use it on general purpose. For fuel card I find Citi IOC gold card most rewarding.
	() Thanks

9th June 2010, 14:47	#102
hrishig BHPian Join Date: Apr 2007 Location: Pune Posts: 466 Thanked: 183 Times	Post deleted by the Team-BHP Support : Please do NOT post one-liners that add little or no informational value to the thread. We need your co-operation to maintain the overall quality of this forum. Please read our rules before proceeding any further. Last edited by GTO : 10th June 2010 at 18:15.
	() Thanks $Received Infraction$

9th June 2010, 15:03	#104
sammyboy Senior - BHPian Join Date: Jul 2006 Location: Ggn/Dehradun Posts: 1,842 Thanked: 526 Times View My Garage	I have a couple of gold Debit but i never really look for offers for using them so never really checked. DB gives you a high cash withdrawl limit so thats handy. I have never really heard of a fee for the Debit Gold cards so thats news for me too.
	() Thanks

9th June 2010, 15:17	#105
Jaguar Senior - BHPian Join Date: May 2006 Location: Bangalore Posts: 1,249 Thanked: 2,910 Times	Why do you use debit cards for? I generally use my CC for all purchases and use the debit card just as a regular ATM card. I remember reading somewhere that CC have more protection against fraud. This is because in case of any fraud transaction on the CC, you can register a complaint and refuse to pay, which forces the bank to investigate properly. In case of debit cards, the money is already gone from your account and banks can take their own sweet time to resolve any issue.
	() Thanks