andhra bank. i have no idea why even the gurgaon branch has mostly south indian folks working there. do not want to sound like racist but i really do not understand 50% of stuff they say.check out bank of baroda, my experience with them has been pretty decent.
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Zero Balance Account with Visa/Master Debit Card?
- Thread starter Jonas
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andhra bank. i have no idea why even the gurgaon branch has mostly south indian folks working there. do not want to sound like racist but i really do not understand 50% of stuff they say.
LOL. Our neighbour in my HomeTown was in NCR (I guess RK Puram branch). I was surprised how he could survive there for 2 years. But the language is not that bad 🙂
LOL. Our neighbour in my HomeTown was in NCR (I guess RK Puram branch). I was surprised how he could survive there for 2 years. But the language is not that bad 🙂
rajanmehta
Regular
Got one no frills (Zero Balance) saving a/c opened recently with ICICIBank.
It comes with VISA Debit Card.
ICICI tried it's best to stop opening such account citing restrictions which actually do not exist. They informed that only deposit upto Rs 50,000 in a year will be allowed and then the account will be either blocked or shifted as a normal saving account with minimum balance requirement.
This is not true. When RBI initially came up with No Frills Accounts scheme, it allowed opening of such accounts with less number of documents also and hence termed it as basic accounts if someone would not have fulfilled Full KYC (Know Your Customer) documentation at the time of opening. Once you reach the deposit figure of Rs 50,000, only thing needed is to fulfill KYC norms and give documents. Banks twisted this saying deposits more than that can't be made. If you've given full KYC documents at the time of opening the account, no such restriction is applicable.
Now to promote more of such banking services, RBI has even asked banks to drop No Frills name tag too as well as clarified other conditions from the recent circular.
RBI - Financial Inclusion- Access to Banking Services – Basic Savings Bank Deposit Account - Circular 10th August 2012
It comes with VISA Debit Card.
ICICI tried it's best to stop opening such account citing restrictions which actually do not exist. They informed that only deposit upto Rs 50,000 in a year will be allowed and then the account will be either blocked or shifted as a normal saving account with minimum balance requirement.
This is not true. When RBI initially came up with No Frills Accounts scheme, it allowed opening of such accounts with less number of documents also and hence termed it as basic accounts if someone would not have fulfilled Full KYC (Know Your Customer) documentation at the time of opening. Once you reach the deposit figure of Rs 50,000, only thing needed is to fulfill KYC norms and give documents. Banks twisted this saying deposits more than that can't be made. If you've given full KYC documents at the time of opening the account, no such restriction is applicable.
Now to promote more of such banking services, RBI has even asked banks to drop No Frills name tag too as well as clarified other conditions from the recent circular.
RBI - Financial Inclusion- Access to Banking Services – Basic Savings Bank Deposit Account - Circular 10th August 2012
An employee in my company was having HSBC No frill account. He had free debit card and free unlimited ATM transactions on all Visa ATMs. But they charge Rs 99 yearly each for phone banking and internet banking plus fees for cheque book also. Rs 250 minimum account opening deposit is to be made but after that there is no minimum balance.
Check this out:
Bank Accounts and Banking Services
Even after paying the fees, this account is cheaper than keeping Rs 10000 minimum balance with say a HDFC Bank et al and then paying for debit card also.
Then there is no frill account of Yes Bank. They have zero balance accounts with free debit card, free cheque book, free DD or pay order issue and a few other things that are all free.
http://www.yesbank.in/com/yesbank/survey/SOCMay/NoFrillsSOC.pdf
Service quality in Yes Bank branches is also good.
Check this out:
Bank Accounts and Banking Services
Even after paying the fees, this account is cheaper than keeping Rs 10000 minimum balance with say a HDFC Bank et al and then paying for debit card also.
Then there is no frill account of Yes Bank. They have zero balance accounts with free debit card, free cheque book, free DD or pay order issue and a few other things that are all free.
http://www.yesbank.in/com/yesbank/survey/SOCMay/NoFrillsSOC.pdf
Service quality in Yes Bank branches is also good.
High Interest Rate Savings Account | Digital Banking | E-Wallet could have been but it offers a virtual prepaid card. dunno what that means.
I have it, you get a virtual Visa credit card called Ewallet , you can fill the ewallet with any amount ( minimum 500 ) through your savings a/c & use it for online purchases
I have it, you get a virtual Visa credit card called Ewallet , you can fill the ewallet with any amount ( minimum 500 ) through your savings a/c & use it for online purchases
experience
Nuit incroyable.
Ubi.
I opened a B2 Account quite a while ago, it's activated already.According to the procedure, I am supposed to get the eWallet feature within 10 days of the account activation.Representative told me last week that it will enabled today, now when I contacted them on chat they informed me that my account got activated just day before yesterday.Called them up, and the lady said it's the issue at back end so the new accounts are not getting the features enabled as of now, gonna take couple of weeks.This is getting interesting.
