ICICI offering me to port my account to my nearest neighbourhood branch

mhsabir

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Just thinking, if its a good thing or bad.



"Kahin Isme Unki Koi Chaal To Nahin" - Or am I just being too distrustful.
 

amitnsonu

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the chaaal isIf they relocate ur account to a branch near you, they will get more business from u, rather than a distant located branch.
 

ashish

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A/c Portability has already been in existence for many years at ICICI. in last 1.5 yr i too had changed my branch twice with both been 50 kms apart. my A/C no,cheque book,debit card all remained the same.They are just pampering you under the garb of "privileged" customer That Only you are getting this Privilege, reality is that every savings a/c holder can avail this facility since Core banking was implemented Arnd 7-8 Yrs ago. Yes it is true,every branch earns commission/incentive on getting/porting the a/c Especially if it is Privilege banking more the comm/incentive.Shift only if you Need.
 


Nishant

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For you at least they're asking for your confirmation. In my case, which was around three years back, they sent me a letter saying that my account has been shifted to so-and-so branch. I had not put a request for the same.
 

mhsabir

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I understand what you are trying to say, that one would start using them for other bank-related services, which currently may be serviced by other banks. Thats fine, as everyone wants a piece of the pie. But any other negative impact? Is what I am thinking.
 

dineshr1988

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MICR code wll change rite? Then how come they have given that ECS wont have any problem...? :O
 


mhsabir

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My thought is why would my old branch be happy to let go of me.

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Ah, need to explore that - They are saying existing transactions/instructions will not change .. But I wonder if people who transfer me money , need to change something in their payee list.
 

ashish

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I understand what you are trying to say, that one would start using them for other bank-related services, which currently may be serviced by other banks. Thats fine, as everyone wants a piece of the pie. But any other negative impact? Is what I am thinking.

Nope no other Negative Impact other than a New Aggressive RM will keep calling you for All sort of (MIS)investments for a few weeks

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My thought is why would my old branch be happy to let go of me.

- - - Updated - - -

Ah, need to explore that - They are saying existing transactions/instructions will not change .. But I wonder if people who transfer me money , need to change something in their payee list.

Nothing changes in the payee list or in your online a/c as the branch name and other stuff gets automatically updated in the system
 

mhsabir

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Ok, So will people who have added me as a payee, need to change MICR or something before they transfer or even that would be taken care on its own (Thats the most important thing for me)
 

ashish

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MICR code wll change rite? Then how come they have given that ECS wont have any problem...? :O

Yup. MICR/IFSC code will change and the institutions to whom the old branch cancelled cheque was given would need to be given the new branch Cancelled cheque

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Ok, So will people who have added me as a payee, need to change MICR or something before they transfer or even that would be taken care on its own (Thats the most important thing for me)

I don't know about other banks, but within icici to icici no need to change anything
 

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