ICICI Wealth Management Account Holders please share your experience.

[TheTrickySid]

What's the MAB you guys maintaining in your Wealth management account.

And what's would be the ideal mab to prevent it from getting downgraded.
Or any tips to avoid getting the account downgraded without maintaining mab.

 

[Akashn]

Does branch location play role in icici offering

I don't think so. Mera tier 1 city ka branch hai..

 

[Vasuki]

I don't think so. Mera tier 1 city ka branch hai..

Tab toh Dushmani hai .
Expect offer in feb march

 

[Akashn]

Tab toh Dushmani hai .
Expect offer in feb march

Haha lets see. My Bday month 😁

 

[smz]

Recently I have read in some other forums, Google maps reviews of my local branch, complaints on ICICI FB page -> that ICICI is now allowing opening of min. 50K MAB accounts only ? Anybody who recently opened ICICI account offline /experienced this within the past 2-3 months ?

Any further update ? @DocFixIt @CardSeeker

 

[vine]

Any chance we can get Emeralde credit card if we already have a wealth management account?
Not a salary account. It was made WM account long back and still has 3-4L present. I already have Coral credit card.
I asked for Emeralde and they said 2CR+ value is needed.
I know it's not much use for me, just trying if I can get it.
If not Emeralde, which credit card will we can ask?

 

[Vasuki]

Any chance we can get Emeralde credit card if we already have a wealth management account?
Not a salary account. It was made WM account long back and still has 3-4L present. I already have Coral credit card.
I asked for Emeralde and they said 2CR+ value is needed.
I know it's not much use for me, just trying if I can get it.
If not Emeralde, which credit card will we can ask?

Ask shappiro best value .if u get ltf
After apay , platinum,coral only shappiro is value .

 

[Vasuki]

Any further update ? @DocFixIt @CardSeeker

@saucy can you ask your rm & confirm anything.
Else i will visit tomorrow or day after to update you ✨

 

[financewizard]

I have Amazon Pay ICICI cc with 6.4L limit. I recently got call from ICICI Bank that I am eligible for Wealth account with zero AMB & that I need to have initial funding of 1-1.5L - that I shouldn't withdraw for atleast 1 quarter. However as I was outstation I asked them to call back 2 week later and that I will open the account. But after that I never received any callback. Then when I went to bank to enquire, they are like you need atleast 10L of initial funding and maintain 5L AMB. Then I called customer support. They went a step ahead and said that I should have initial funding of 25L to 50L depending on the branch location and maintain 20L AMB or 30L+ as relationship value.
I see a lots of posts here where people opend Wealth Account with Zero AMB based on mail invite from wealth team etc.

So wanted to know on how I can open wealth account with Zero AMB and appreciate if anyone could share RM details (from Chennai) who can help in getting this done.. 😀

 

[saucy]

@saucy can you ask your rm & confirm anything.
Else i will visit tomorrow or day after to update you ✨

Are wo peeche lag jayega ki sir khulwa do account 🌚🌚

Any chance we can get Emeralde credit card if we already have a wealth management account?
Not a salary account. It was made WM account long back and still has 3-4L present. I already have Coral credit card.
I asked for Emeralde and they said 2CR+ value is needed.
I know it's not much use for me, just trying if I can get it.
If not Emeralde, which credit card will we can ask?

Try for sapphiro.
You can later upgrade to emeralde. The 2cr+ is for LTF, that too not really.

I have Amazon Pay ICICI cc with 6.4L limit. I recently got call from ICICI Bank that I am eligible for Wealth account with zero AMB & that I need to have initial funding of 1-1.5L - that I shouldn't withdraw for atleast 1 quarter. However as I was outstation I asked them to call back 2 week later and that I will open the account. But after that I never received any callback. Then when I went to bank to enquire, they are like you need atleast 10L of initial funding and maintain 5L AMB. Then I called customer support. They went a step ahead and said that I should have initial funding of 25L to 50L depending on the branch location and maintain 20L AMB or 30L+ as relationship value.
I see a lots of posts here where people opend Wealth Account with Zero AMB based on mail invite from wealth team etc.

So wanted to know on how I can open wealth account with Zero AMB and appreciate if anyone could share RM details (from Chennai) who can help in getting this done.. 😀

You can get a wm account at 1L IP by negotiating for it, no need to wait for the offer.
Search this forum for "premium bank accounts" there's a whole thread for this

 

[financewizard]

Are wo peeche lag jayega ki sir khulwa do account 🌚🌚


Try for sapphiro.
You can later upgrade to emeralde. The 2cr+ is for LTF, that too not really.

You can get a wm account at 1L IP by negotiating for it, no need to wait for the offer.
Search this forum for "premium bank accounts" there's a whole thread for this

Hey thanks for the response. I did go through the threads and based on that only I tried negotiating with the Branch Manager. But he is refusing to open Wealth account with 1-1.5L initial funding. Without 10L of initial funding he is not even willing to give the application form. After some heated argument he even called someone from account opening department (or something like that) and then confirmed that he can't open wealth account. In my place there is this just one ICICI branch and hence I can't even negotiate with other branches.
I just want to open this account as I have a branch that is very near to my house and also get lockers at discounted rates + option to get premium credit card easily. That's why I am looking at some options like known RM near my area to open the account.

 

[SSV]

Hey thanks for the response. I did go through the threads and based on that only I tried negotiating with the Branch Manager. But he is refusing to open Wealth account with 1-1.5L initial funding. Without 10L of initial funding he is not even willing to give the application form. After some heated argument he even called someone from account opening department (or something like that) and then confirmed that he can't open wealth account. In my place there is this just one ICICI branch and hence I can't even negotiate with other branches.
I just want to open this account as I have a branch that is very near to my house and also get lockers at discounted rates + option to get premium credit card easily. That's why I am looking at some options like known RM near my area to open the account.

So you don’t have the contact details of the person who contacted you first time??

Read from here:

Post in thread 'ICICI Wealth Management Account Holders please share your experience.'
https://www.technofino.in/community...please-share-your-experience.5052/post-222745

 

[finance.wkh]

No need even for that, I withdrew the entire amount within 5 days. Mostly keep 50-100Rs in that account. Been 1.5 years, never any issue whatsoever.

What is the update now? In Jan 2024?
I visited the ICICI Wealth Management branch and they asked me for a cheque of 5 lakhs and they said I can remove the money after 2 to 3 days.

 

[SSV]

What is the update now? In Jan 2024?
I visited the ICICI Wealth Management branch and they asked me for a cheque of 5 lakhs and they said I can remove the money after 2 to 3 days.

Seems reasonable .

 

[Vasuki]

@S S V & @saucy
Went to rbl
They agree to open aspire at 1L IP.
He was mid age guy was not buzzing & said 2 lakh is policy but i said 1 lakh is maintaince i will do 1 lakh Ip only he agreed.
Said will do all in 2-3 days .

 

[SSV]

@S S V & @saucy
Went to rbl
They agree to open aspire at 1L IP.
He was mid age guy was not buzzing & said 2 lakh is policy but i said 1 lakh is maintaince i will do 1 lakh Ip only he agreed.
Said will do all in 2-3 days .

Good. . .

 

[finance.wkh]

Seems reasonable .

But he also mentioned about account downgrade if there are no transactions.

 

[saucy]

Hey thanks for the response. I did go through the threads and based on that only I tried negotiating with the Branch Manager. But he is refusing to open Wealth account with 1-1.5L initial funding. Without 10L of initial funding he is not even willing to give the application form. After some heated argument he even called someone from account opening department (or something like that) and then confirmed that he can't open wealth account. In my place there is this just one ICICI branch and hence I can't even negotiate with other branches.
I just want to open this account as I have a branch that is very near to my house and also get lockers at discounted rates + option to get premium credit card easily. That's why I am looking at some options like known RM near my area to open the account.

Try in the last week of march

 

[financewizard]

Try in the last week of march

Valid point 🤪..

 

[Survivor35]

But he also mentioned about account downgrade if there are no transactions.

what does no transactions mean; lets say its signature/Aspire & we maintain MAB of 2/1L wouldnt that suffice

 

[hks789]

what does no transactions mean; lets say its signature/Aspire & we maintain MAB of 2/1L wouldnt that suffice

For my case 6 months ago they opened Aspire with 1L IP in a recently opened branch.
BM and RM visited my home to open the account(branch is like 30kms away).
No other rbl branches nearby.

With 1L IP they said account will be zero balance but try to keep some 10k mab.
So far no issues. Surprisingly no pestering from BM or RM for investments.
I keep around 5-10k and have 50k in FD at 8%.

Same story with ICICI as well, opened wealth with 1L IP.
Not maintaining any wealth TRV.
Just regular SIP transactions.
BM occasionally calls for keeping some amount in Acc for few days.

All depends on the branch and their targets.
My place is sub-urban near tier 3 city.