Online accounts like ICICI B2B

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sharktale1212

Herald
Anyone have idea about online accounts like ICICI b2b? Tried to apply for ICICI but some how it shows my area as unservicable.

The requirement is:

Zero balance

Card which works for online purchases.Virtual card will do but Physical card preferred. Needs to work online.
 
IDBI has zero balance accounts, so does Kotak I think. Alternatively, you can go for SBI, which has a minimum requirement of 1000 AQB, but gives you a fully operational account with it
 
I have an ICICI b2 account, its only available at certain locations. But they don't provide you with a physical card, its a 100% online account.

The advantages are

1. No need to maintain any AQB

2. Virtual Credit Card which can be used with PayPal etc

3. No NEFT charges

4. Demand Drafts home delivered for free (I've saved a lot with this facility alone, if you visit a branch they charge anywhere from 3-4 Rs per 1000)

I mainly use it for for the Virtual Credit Card and Demand Drafts.

Other than b2, and the ones mentioned by Agantuk, HDFC also has a Zero Balance account called No Frills account, but they are reluctant to give the account these days.
 
varkey said:
HDFC also has a Zero Balance account called No Frills account, but they are reluctant to give the account these days.
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I told my friend to get this account. But when he asked HDFC they told him that they will give him this account provided that he has no bank account prior to this in all over India
 
#agantuk - Problem with IDBI/Kotak is penetration in the ATM side. I might use the card in locations where there are no branches. What wud the card usage cost me?

#varkey - one of the reasons I wanted B2 was its all out online nature. Especially Paypal usage
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. I have been helping out some collgeaues.

online purchase service
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It has been quite difficult to keep track of the money with my own account. I wanted a seperate account for managing all this. (just hoping it wont turn out like my Kindle Fire fiasco - bought 3 and now 2 kindle fires are on sale on TE)

SBI AQB 1k seems to be winning the race for now.
 
^ I don't think it will charge you to use the debit card. All POS transactions will be free in any case, there may be a limit in number of free ATM withdrawals though.

thatsashok said:
I told my friend to get this account. But when he asked HDFC they told him that they will give him this account provided that he has no bank account prior to this in all over India
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Yep, that is the issue nowadays. Anyway I got it about 3 years back without any problem, still using the account with no issues.
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#sharktale1212, ATM usage charges are like all other banks - first 5 per month free, and charged 8 - 20 rupees per transaction for subsequent ones. Exact charge varies from bank to bank, but 20 is the upper limit.

Kotak doesn't have any ATM restriction primarily because they rely on other's ATMs - been the case since long. SBI has the largest ATM network, but also probably the most dysfunctional one.

EDIT: Kotak no longer has the fully free other ATM facility on its lower balance accounts. It is only available with a min. 20K balance. Otherwise first 5 are free per month
 
[sup]
agantuk said:
#sharktale1212, ATM usage charges are like all other banks - first 5 per month free, and charged 8 - 20 rupees per transaction for subsequent ones. Exact charge varies from bank to bank, but 20 is the upper limit.

Kotak doesn't have any ATM restriction primarily because they rely on other's ATMs - been the case since long. SBI has the largest ATM network, but also probably the most dysfunctional one.

EDIT: Kotak no longer has the fully free other ATM facility on its lower balance accounts. It is only available with a min. 20K balance. Otherwise first 5 are free per month
Click to expand...
[/sup]

[sup]What is the Kotak account called? Their site shows AQBs for edge, pro and ace. Only zero balance are corporate accounts. [/sup]

[sup]Any other suggestions guys? Even 1k AQB will do. [/sup]
 
I want to open my account with minimal Minimum Balance criteria.. I have two options

1. SBI - (Minimum Balance Rs. 1000)

2. Axis Bank (demat account) (Minimum Balance Rs. 1800, as per Axis repr. told me)

I have no plans to invest money in Share market for at least an year. The things I expect are i. Good Online banking facility, ii. Possibly International debit card, iii. VCC if possible.

How is OnlineSBI?
 
OnlineSBI is decent. they don't have a VCC facility though. they give a Maestro card by default but you can get a VISA one if you ask for it.
 
#Rahul++

If going for SBI, make sure you specifically ask for a Visa / MasterCard debit card.

My mother opened an SBI account recently and opted for the Visa / MasterCard debit card specifically. The branch officials were not even aware that there was a different type of debit card. Lol.
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Anyway they mentioned it explicitly on top of the application and she got a MasterCard debit card.
 
@varkey : Are you using E-Wallet, Virtual CC from B2 Account.... IF yes, then Where ? and What is the Difference between the two ?
 
#dipen01

Yes, I am using the eWallet. It works fine on PayPal but doesn't work through some Indian Gateways. Anyway I need it only for PayPal once in a while.

The Virtual CC will be like an actual Credit Card ie they will be offering you the credit facility whereas for eWallet you need to first transfer the money to the eWallet and only then you can use it for purchase.
 
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