Opening new account::Which Bank to choose?

Status
Not open for further replies.
sunny27

sunny27

Stig's Indian Cousin!!!
Galvanizer
Hi!
I had a salary account in ICICI bank which I had to close as I quit my job.
I have another ICICI savings account but it is a joint account with my dad.

I need to open a new account in a bank with the following conditions:-
[1]The minimum amount to be kept in the account or QAB amount should be as low as possible -- ICICI/HDFC have pegged it at 10k(unacceptable to me!)
[2]The debit card issued should be a GRID based card which will enable me to shop online or book tickets ,etc.
[3]Internet banking should be supported as well as phone banking.
[4]Online transfers/RTGS/NEFT facilities should be supported.

Kindly suggest the best bank to open an account in which meets all the above parameters.
Thanks in advance!
 
If you are not particular about grid based card, open an SBI account. Minimum balance of Rs.1000 only, and has all the other features you need. Else you could also opt for one of the No-Frills account which every bank is supposed to offer, that has zero minimum balance.

P.S: Any specific reasons for Grid based card requirement?
 
Can I do online shopping(E-bay),online recharge for my mobile phone,book tickets,make NEFT and RTGS transfers to other bank accounts and everything using SBI card?

My icici bank cards have GRID and usually during any transaction i am asked to fill in details from the grid for security. Does the SBI bank debit card let me do everything that my ICICI bank card does ?

which bank lets me open a zero balance account?
 
SBI is on par with other banks as far as the most basic - and in some cases even a bit 'advanced' technological facilities are concerned. Unfortunately, they have done little to break the myth surrounding them that they are still haunted houses with no clue about technology whatsoever. Most of the SBI banks I have visited of late are air conditioned, have well mannered and genuinely friendly staff (unlike the plasticky smile on the faces of the private bank staff), and are computerised.
 
sunny27 said:
Hi!

I had a salary account in ICICI bank which I had to close as I quit my job.

I have another ICICI savings account but it is a joint account with my dad.

I need to open a new account in a bank with the following conditions:-

[1]The minimum amount to be kept in the account or QAB amount should be as low as possible -- ICICI/HDFC have pegged it at 10k(unacceptable to me!)

[2]The debit card issued should be a GRID based card which will enable me to shop online or book tickets ,etc.

[3]Internet banking should be supported as well as phone banking.

[4]Online transfers/RTGS/NEFT facilities should be supported.

Kindly suggest the best bank to open an account in which meets all the above parameters.

Thanks in advance!
Click to expand...
I have one small suggestion. Don't try to use your Debit card online. The fraud protection offered for Credit Cards is much higher than for Debit cards.

I've used SCB when I had to get a new account. After three months, they also offered me their Credit Card that I started using for online purchases.

(I have an account with a QAB requirement, but they also have a 0 balance account)
 
I am not looking for a credit card.

All I want is a good reliable bank which offers very low QAB, all the facilities offered by my ICICI bank debit card such as net-banking at least--although phone banking would be welcome. If SBI meets all the above mentioned parameters I will go for it.
 
sunny27 said:
Can I do online shopping(E-bay),online recharge for my mobile phone,book tickets,make NEFT and RTGS transfers to other bank accounts and everything using SBI card?

My icici bank cards have GRID and usually during any transaction i am asked to fill in details from the grid for security. Does the SBI bank debit card let me do everything that my ICICI bank card does ?

which bank lets me open a zero balance account?
Click to expand...

Yes,you can do all the above using SBI Debit Card.
sunny27 said:
I am not looking for a credit card.

All I want is a good reliable bank which offers very low QAB, all the facilities offered by my ICICI bank debit card such as net-banking at least--although phone banking would be welcome. If SBI meets all the above mentioned parameters I will go for it.
Click to expand...
Go for SBI. requires least QAB.
 
^^ It does. Regarding the Zero balance accounts, called No-Frills accounts, I believe it has been made mandatory by the RBI that every bank should provide such an option. You could enquire the nearest bank in your locality. Check the bank websites also.
And I don't think you have grids on SBI debit cards. But the 2nd layer of protection (Verified by Visa or Mastercard Securecode) should provide you the needed security anyways.
 
By the way if the account is going to b a salaried account then SBI or any other bank may let u open a zero balance account. U just need to talk once to them about it. Plz give a try!!
 
sbi has very good net banking website ,u get all wat u want like in ur icicic , thirdy part transfer , u get all , min 1000 balance , which is a no biggie , they have ano frills account , but i think they wont give u a visa/masrercard debit card for that , u will get only the maestro card ,which doesnt work for online transactions ,

and also for buying on ebay , there wud be a problem with sbi , coz ebay doesnt have sbi net banking gateway ,

although it might work with visa/ master card debit card if they give , but most likely sbi gives only the shitty maestro card ,

i have been using hdfc account since 2 years and just yesterday i also gave the apllication for a sbi account minimum 1k QAB :)
 
^^ sbi doesn't give VISA/Mastercard options?? any other bank which offers visa/mastercard options in their debit cards?
 
sunny27 said:
^^ sbi doesn't give VISA/Mastercard options?? any other bank which offers visa/mastercard options in their debit cards?
Click to expand...
SBI provides Visa Debit cards, but you have to apply for it separately. By default I think they give the Maestro card.

And the GRID at the back of the ICICI debit card is just an extra security layer to authenticate ICICI Netbanking transactions only, they are not used for VBV or any other transactions. It doesnt make the card more acceptable.

anish_sha said:
does paisapay in ebay support SBI? only HDFC , ICICI n CITIBANK is supported i guess....
Click to expand...
SBI Netbanking is not supported, but if you have a VISA / MasterCard debit card from SBI you can make the payment.
 
varkey said:
SBI provides Visa Debit cards, but you have to apply for it separately. By default I think they give the Maestro card.

And the GRID at the back of the ICICI debit card is just an extra security layer to authenticate ICICI Netbanking transactions only, they are not used for VBV or any other transactions. It doesnt make the card more acceptable.
SBI Netbanking is not supported, but if you have a VISA / MasterCard debit card from SBI you can make the payment.
Click to expand...

can i use it as a CC in websites if i get a VISA debit card from SBI ?
 
^ Credit and debit cards are two different things and one cannot be used as the other. Debit card is what is tied to your savings account, so every time you use it, money is withdrawn immediately from your savings account. Credit card on the other hand, gives you money on 'credit' as the name suggests. Meaning, the bank pays on behalf of you to the merchant instantly - via the card swipe - and you in turn give the bank this amount at a later date depending on when this particular transaction makes its way to the monthly card statement.
 
Status
Not open for further replies.
Top Bottom