GalacticTreasurer
TF Buzz
Having had banked with SBI for over 5 years, I was on the lookout to move to some sort of privilege banking.
After a rather mediocre experience with Axis priority and HDFC Preferred banking, both of which I feel were worse than SBI, I decided to give IDFC Select a try.
IDFC provides 2 options when opening an account online - one with 10k MAB and one with 25K, the main difference is the ATM card variant (Visa vs Visa Platinum), I opened the later with 25k initial funding. The vKYC process was smooth and the executive on the call seemed quite knowledgeable with the account process and explained some basic stuff on when Id receive the kit etc.
In a couple of hours, I received the customer ID, account number - enough to login into netbanking and the app. Both netbanking and app registration flow was as smooth as I could have hoped for, and the app is a breeze to use. I soon transferred around 3.5L to the account. It took about a week to receive my welcome kit, and once I activated my debit card, a section 'My relationship Team' showed up in the app, with my RM's contact.
I shortly called her, and requested to be upgraded to IDFC select. she explained the benefits, which was I familiar with and proceeded to raise a request for it. I was informed it might take 4-5 days to approve.
A week later, I checked in to hear it was still being process, and was assured it'd be done soon. As informed in a couple of days it was processed and after some 10 days I received the upgraded select kit, which Ive been using for the past month. Overall, it was a pretty straightforward and took about 35 days from account opening to upgrade. Throughout the process, I liked the RM's very professional approach and was quite impressed with how knowledgeable she was, compared to my HDFC or Axis RM and other RM stories Ive read here.
Things about IDFC in general and Select banking I've like so far,
After a rather mediocre experience with Axis priority and HDFC Preferred banking, both of which I feel were worse than SBI, I decided to give IDFC Select a try.
IDFC provides 2 options when opening an account online - one with 10k MAB and one with 25K, the main difference is the ATM card variant (Visa vs Visa Platinum), I opened the later with 25k initial funding. The vKYC process was smooth and the executive on the call seemed quite knowledgeable with the account process and explained some basic stuff on when Id receive the kit etc.
In a couple of hours, I received the customer ID, account number - enough to login into netbanking and the app. Both netbanking and app registration flow was as smooth as I could have hoped for, and the app is a breeze to use. I soon transferred around 3.5L to the account. It took about a week to receive my welcome kit, and once I activated my debit card, a section 'My relationship Team' showed up in the app, with my RM's contact.
I shortly called her, and requested to be upgraded to IDFC select. she explained the benefits, which was I familiar with and proceeded to raise a request for it. I was informed it might take 4-5 days to approve.
A week later, I checked in to hear it was still being process, and was assured it'd be done soon. As informed in a couple of days it was processed and after some 10 days I received the upgraded select kit, which Ive been using for the past month. Overall, it was a pretty straightforward and took about 35 days from account opening to upgrade. Throughout the process, I liked the RM's very professional approach and was quite impressed with how knowledgeable she was, compared to my HDFC or Axis RM and other RM stories Ive read here.
Things about IDFC in general and Select banking I've like so far,
- Visa infinite debit card
- companion (1+1) lounge access twice a quarter, very useful when I travel with family
- welcome benefit of 4000 points (equivalent to Rs. 1000) on first transaction of Rs. 1000 or above
- Complimentary roadside assistance (hopefully i will not need to use this one)
- Looks pretty good, especially in lit environments
- Responsive and knowledgeable RM
- Better intrerest rates than most other large banks, and monthly credit of interest by default
- Smooth and intuitive app experience
- Sending a courier tracking link when they ship the card/kit would have been ideal. Out of the blue, I got a message from bluedart that my kit was out for delivery and had to come back home that day to collect it. They should send the tracking information proactively.
