Kotak Current Account - Privy League Possible?

[niks]

I had opened 2 Kotak accounts more than 10 years ago since my employer required so. One was salary account and another current account for reimbursements.

Post opening the accounts, I discovered that I could actually use my existing bank account with other bank for salary, so never operated the salary account.

I have 2 questions:
1. If an salary account with Kotak was opened more than 10 years ago & never operated, is it recoverable?
2. If I want to convert the Current account to a Privy League Prima account is that possible? And is it worth the hassle since I am not seeing good reviews of Kotak customer service on these forums?

 

[gauravraj]

I had opened 2 Kotak accounts more than 10 years ago since my employer required so. One was salary account and another current account for reimbursements.

Post opening the accounts, I discovered that I could actually use my existing bank account with other bank for salary, so never operated the salary account.

I have 2 questions:
1. If an salary account with Kotak was opened more than 10 years ago & never operated, is it recoverable?
2. If I want to convert the Current account to a Privy League Prima account is that possible? And is it worth the hassle since I am not seeing good reviews of Kotak customer service on these forums?

1- you can recover but it is not easy
2- if you didn't used it so far, then you don't have relationship value with bank. So, kotak will not provide you personalized offer or anything.

or Open a new privy league account if you want with kotak.But customer support is not that good and very basic net banking features for privy too.

Why to go through hussle ?

 

[niks]

1- you can recover but it is not easy
2- if you didn't used it so far, then you don't have relationship value with bank. So, kotak will not provide you personalized offer or anything.

or Open a new privy league account if you want with kotak.But customer support is not that good and very basic net banking features for privy too.

Why to go through hussle ?

I'm using the Current Account and also have a Kotak League Platinum Credit card which is FYF.

Noted your feedback on Privy League features. Thanks.

 

[gauravraj]

I'm using the Current Account and also have a Kotak League Platinum Credit card which is FYF.

Noted your feedback on Privy League features. Thanks.

Give a try to SC current account if possible.

welcome

 

[gauravraj]

What's your personal experience about kotak banking and cc department?

I'm using the Current Account and also have a Kotak League Platinum Credit card which is FYF.

Noted your feedback on Privy League features. Thanks.

 

[niks]

What's your personal experience about kotak banking and cc department?

Have been using the current account in a very limited way. So no views as such.

Even the Credit card I started using just a couple of months ago. Not planning to pay for it for the second year unless they convert it to LTF

 

[j_s]

Speak with the people at the branch/RM if that's your case. They will probably have something to offer you to get the Privy League. They will usually ask for INR 5 lacs initial funding. When they have some special drives going on then they will do it for even INR 2 lacs.

IMO, the banking experience is just about average. Adding a payee has a 24 hour cooling period. This should tell you which era they are living in. RMs will constantly ask call you to add funds because they have targets to meet. They give up after you stop answering their calls.

The thing is, if you do get the Privy League, it has a lifetime NMC. Essentially, everything is free.

 

[gauravraj]

👍 agreed

Speak with the people at the branch/RM if that's your case. They will probably have something to offer you to get the Privy League. They will usually ask for INR 5 lacs initial funding. When they have some special drives going on then they will do it for even INR 2 lacs.

IMO, the banking experience is just about average. Adding a payee has a 24 hour cooling period. This should tell you which era they are living in. RMs will constantly ask call you to add funds because they have targets to meet. They give up after you stop answering their calls.

The thing is, if you do get the Privy League, it has a lifetime NMC. Essentially, everything is free.

 

[niks]

Speak with the people at the branch/RM if that's your case. They will probably have something to offer you to get the Privy League. They will usually ask for INR 5 lacs initial funding. When they have some special drives going on then they will do it for even INR 2 lacs.

IMO, the banking experience is just about average. Adding a payee has a 24 hour cooling period. This should tell you which era they are living in. RMs will constantly ask call you to add funds because they have targets to meet. They give up after you stop answering their calls.

The thing is, if you do get the Privy League, it has a lifetime NMC. Essentially, everything is free.

That's helpful. Thanks

 

[Bhagat Singh]

I had opened 2 Kotak accounts more than 10 years ago since my employer required so. One was salary account and another current account for reimbursements.

Post opening the accounts, I discovered that I could actually use my existing bank account with other bank for salary, so never operated the salary account.

I have 2 questions:
1. If an salary account with Kotak was opened more than 10 years ago & never operated, is it recoverable?
2. If I want to convert the Current account to a Privy League Prima account is that possible? And is it worth the hassle since I am not seeing good reviews of Kotak customer service on these forums?

Stupid bank. Netbanking is not so smooth. Branch employee are extremely pathetic. They have 0 knowledge, only wants to sell you policies, insurance , RM keeps calling to maintain high balance every month for his targets. Customer care for normal customer is shit and all chargeable numbers. Privy league customer care is excellent they do everything on call. Also you have to maintain 50k minimum balance for Prima league which is now knows as neon. Otherwise they'll charge you 600+ gst for non maintaince and downgrade your account.

Only platinum (optima) and black (insignia) have NMC wavier.

But platinum have 10 lakhs monthly average balance requirement and black need 1 cr relationship.

 

[Bhagat Singh]

Stupid bank. Netbanking is not so smooth. Branch employee are extremely pathetic. They have 0 knowledge, only wants to sell you policies, insurance , RM keeps calling to maintain high balance every month for his targets. Customer care for normal customer is shit and all chargeable numbers. Privy league customer care is excellent they do everything on call. Also you have to maintain 50k minimum balance for Prima league which is now knows as neon. Otherwise they'll charge you 600+ gst for non maintaince and downgrade your account.

Only platinum (optima) and black (insignia) have NMC wavier.

But platinum have 10 lakhs monthly average balance requirement and black need 1 cr relationship.

My personal experience. Branch employee never helped me for anything. Complained of branch many times . Branch manager or RM marks all complaint closed without contacting me. I had prima but when they introduced charges in prima it was headache to get optima or platinum.