Kotak Mahindra or Citibank

  • Thread starter Thread starter Jonas
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out of these two? kotak probably. citibank would not cater to small guys like us. but i suppose this is related to your new job. corporate accounts are different. i would still suggest kotak. they offer some real good offers to their customers.
 
The point is what services are you looking at(assuming its corporate). I had an ICICI corp a/c opened in 2005 & have never visited the bank. And from what I hear, all the basic services are provided by all banks in more or less the same way to corp a/c. Need to decide based on what extra services they are giving.With facility to draw at all ATMs without extra charges (I guess its some particular number of transactions are free in a quarter) , internet banking anyime and other similar features being same across all banks, there is pretty much nothing different to choose.You can check about mobile banking if you intend to use that.
 
Damn! I didn't opt for Kotak when bank opening account form was given to me 😕People said that Kotak doesn't have good number of ATMs around and no one wants to loose some amount while using other banks Machine.Citibank people are going to come on this or the next Thursday.I still have the account opening form of Kotak though, if it's really better then I will talk to the HR.@ mhsabirActually, I had like if ICICI was an option.I shop online and most websites have special discounts for ICICI 🙁But, yeah! If I manage to stick with them for one month then the my salary would be given via Cheque.
 
its ok. once you have an account from any private bank, it gets easier to open a new one in another one. the first account is always complicated. getting one through a company makes it much easy.
 
I do not know about now. But ICICI had given my company a huge bundle of cheques(10-leave ones)/ATM/pin. When I joined the HR guy just handed over one set to me. I was shocked that all these doesnt require submission of any details. Ofcourse, later all details were updated & proper card/pin etc issued. But initially the blank ones (ATM/Cheq with just a/c number details) were given for temporary use.
 

Also on the ATM thing, last I heard, the following rules apply to even non-corp accounts

"If you are using other bank ATM, you can withdraw only 10,000 Rs per transaction and also a maximum of 5 such transactions per month."

On top of this, some individual banks are putting their own restrictions. I have seen ATMs where in for other banks, it allowed me to just choose from 4 fixed amounts from 1000 to 4000 rupees

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I have used a credit card in my life once & that too on urgent request from a family member wherein no other option was available

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And once in a while I keep getting updates, that due to my "wonderful" usage, my limit is increased 😀
 
I have an SBI savings account, and I never visited the bank after getting my passbook, been a year actually. Bleh.When we transfer money from one bank to other(online) say Citibank to ICICI, what's the fee?
 
ZZZ a lot depends on ur preference... If u have an option of just these 2 then the obvious choice is Kotak. If u have other options I would suggest HDFC or ICICI... I have been with HDFC for a few years now & have found their service top notch... Also in private banks these are the 2 with the widest reach though I have found HDFC to be more likely to be found in smaller cities than ICICI...
 
you are missing the point. his company probably offered him the choice between kotak and citibank. a lot of companies do it these days.
 
If it is a corporate account, I would strongly recommend Citibank. My experience with them has been outstanding at the very least. I rarely had to visit the branch, and their website as well as phone banking services are pretty efficient. One reason for this is most of their corporate account customers fall into their privilege banking department, due to which any ATM unlimited, next day cheque book delivery (in metros) are provided. Their fund transfer is the best I have used till date in terms of speed and punctuality. For comparison, I have used ICICI (good, but Citi is higher), SBI (haha), and HDFC (LOL)
 
I got my account activated today, received a message and a mail that account is active and my balance is Rs 0 😛I don't know what my account number is but, I have the kit which has this debit card and some literature.Question is How can I can get the Internet Password (H-PIN) for my account?
 

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