Opinion/Suggestion - Best 0 balance digital saving account for UPI

[Reaper]

After the fiasco with Paytm Payments Bank, I am looking forward to opening a 0 balance savings account majorly for UPI transactions.
I am not concerned about rewards or interest however below are my major criteria:

• Should have a strong IT backend so it does not impact regular UPI transactions.
• Must support UPI Lite
• Not interested in Debit Card hence virtual debit card would be more than sufficient
• I am open to submitting all necessary documents as part of my account opening except for AADHAR linked mobile number (instead I want my account to be linked to my alternate number)
• Minimum branch visit as soon I will be moving abroad for 2 years

Please suggest to me the best account that fulfils my above needs.

Thought of Kotak's 811 Digital account but got afraid after listening to multiple complaints of the account getting frozen.

 

[doraemon]

My friend & my cousin have another say 🥸
.
Its takeing time

Debate organise karni padegi 🤭

 

[ashwink]

Zero balance has RM ?

Yes AU provide RM

 

[Reaper]

Has anyone opened a BSBDA account with AU Bank.
If yes, please share the experience.

 

[Vasuki]

Has anyone opened a BSBDA account with AU Bank.
If yes, please share the experience.

When they have online zero balance account ..why would one open bsbda account

 

[ashwink]

Has anyone opened a BSBDA account with AU Bank.
If yes, please share the experience.

Possible from only through branch

 

[panchabhut]

As I understood, practically all digital acct can be opened with adhaar linked SIM only. If you need to link with alternate SIM go for a normal acct opened at the branch. Bandhan Sanchay Acct has min bal of 2K. Ujjivan bank regular Acct has min bal of 1K. You can use any UPI app of you choice as the front end.

 

[Reaper]

When they have online zero balance account ..why would one open bsbda account

I know, I was looking for options to open zero balance account without an AADHAR-linked number and this suddenly stuck with me.

 

[Reaper]

As I understood, practically all digital acct can be opened with adhaar linked SIM only. If you need to link with alternate SIM go for a normal acct opened at the branch. Bandhan Sanchay Acct has min bal of 2K. Ujjivan bank regular Acct has min bal of 1K. You can use any UPI app of you choice as the front end.

Thanks for this info.
I think I need to start exploring this area.
Do you have an account in Ujjivan bank? If yes, how has been your experience?

 

[varun__goel_]

I know, I was looking for options to open zero balance account without an AADHAR-linked number and this suddenly stuck with me.

First open acc in AU with aadhar reg no. Then you can change the number as soon as your acc gets activated via their video banking facility

 

[Reaper]

First open acc in AU with aadhar reg no. Then you can change the number as soon as your acc gets activated via their video banking facility

Good point
Let me try this way...

 

[AritraSaha]

As I understood, practically all digital acct can be opened with adhaar linked SIM only. If you need to link with alternate SIM go for a normal acct opened at the branch. Bandhan Sanchay Acct has min bal of 2K. Ujjivan bank regular Acct has min bal of 1K. You can use any UPI app of you choice as the front end.

most of bandhan account don't have any non maintenance charges..
so its kind of zero balance..

 

[RAMESH BABU N]

Hdfc is takeing 15-20 days ..in Account activation+ delivery of card + activation..etc etc.
Welcome kit comes very.slow

In Tirupati, I opened HDFC SB MAX account, in a giffy. Got Welcome kit across the counter, immediately. Did 2 trxns within 3-4 minutes. UPI activated, DC activated. All done within 5 minutes. Happy....
Till their notorious legendary Chennai office came onto the scene... Horrible.

 

[ramirami]

Why not SBI regular savings account? There is no minimum balance requirement afaik and core tech / internet banking are solid. Branch visits are a concern but why would you need to visit the branch?

RBI has recently mandated that all digitally opened accounts must be opened with the same mobile number which is linked with your Aadhar. It is a bit of a mess because Aadhar allows multiple people to have same linked phone number, but many banks do not like different customers to have the same mobile number, add their software cannot handle this. If you still want to open digitally, the way to do it is open with that mobile number initially and then after the cooldown period, change mobile number using the bank's process.

 

[Vasuki]

In Tirupati, I opened HDFC SB MAX account, in a giffy. Got Welcome kit across the counter, immediately. Did 2 trxns within 3-4 minutes. UPI activated, DC activated. All done within 5 minutes. Happy....
Till their notorious legendary Chennai office came onto the scene... Horrible.

Branch over boarding is still great in hdfc & icici ..even axis but mininal extended unless Burgundy

 

[panchabhut]

Why not SBI regular savings account? There is no minimum balance requirement afaik and core tech / internet banking are solid. Branch visits are a concern but why would you need to visit the branch?

RBI has recently mandated that all digitally opened accounts must be opened with the same mobile number which is linked with your Aadhar. It is a bit of a mess because Aadhar allows multiple people to have same linked phone number, but many banks do not like different customers to have the same mobile number, add their software cannot handle this. If you still want to open digitally, the way to do it is open with that mobile number initially and then after the cooldown period, change mobile number using the bank's process.

SBI is famous for illegally activating all sorts of govt schemes in your acct to meet their target.

 

[John Since]

SBI is famous for illegally activating all sorts of govt schemes in your acct to meet their target.

In my 15 years of having account with them, it never happened.

 

[panchabhut]

In my 15 years of having account with them, it never happened.

Then you are lucky. Many have complained about activation of PMJJY etc.

 

[ramirami]

In my experience I have seen more unethical things being done by private bank employees than SBI employees. SBI employees often do not care enough to do such stuff!

 

[Reaper]

most of bandhan account don't have any non maintenance charges..
so its kind of zero balance..

I am addicted to UPI Lite as it avoids PIN and is usually quicker when compared to regular UPI, hence prefer the bank that supports this feature.
Not sure why Bandhan Bank hasn't launched it yet, it has already been a year.

 

[panchabhut]

I am addicted to UPI Lite as it avoids PIN and is usually quicker when compared to regular UPI, hence prefer the bank that supports this feature.
Not sure why Bandhan Bank hasn't launched it yet, it has already been a year.

you can always use a 3rd party app that supports UPI app