Purpose of having privilege banking

[VijayflyRaven]

Why do we want to have top tier privilege banking account (Ex ICICI wealth, HDFC Imperia, etc)?

• Connect instantly to customer care via phone banking. Higher quality agents.
• Low Forex markup for international travel
• Free higher variant debit card with privileges like lounge access
• Cash backs and perks like 1% credit card bill payment, 20% off on bigbasket every month, etc.
• zero banking charges for DD, SMS alerts, debit cards, cheque, etc.
• priority queue in bank
• Better inward remittance rates

Anything else I missed?
On above benchmarks, which bank is the best at lower MAB?

 

[Wealth is my birth right!]

Why do we want to have top tier privilege banking account (Ex ICICI wealth, HDFC Imperia, etc)?

• Connect instantly to customer care via phone banking. Higher quality agents.
• Low Forex markup for international travel
• Free higher variant debit card with privileges like lounge access
• Cash backs and perks like 1% credit card bill payment, 20% off on bigbasket every month, etc.
• zero banking charges for DD, SMS alerts, debit cards, cheque, etc.
• priority queue in bank
• Better inward remittance rates

Anything else I missed?
On above benchmarks, which bank is the best at lower MAB?

ICICI is my pick
Only drawback they r not offering their premium cards
I have coral ltf and apay

 

[jainsuk]

Why do we want to have top tier privilege banking account (Ex ICICI wealth, HDFC Imperia, etc)?

• Connect instantly to customer care via phone banking. Higher quality agents.
• Low Forex markup for international travel
• Free higher variant debit card with privileges like lounge access
• Cash backs and perks like 1% credit card bill payment, 20% off on bigbasket every month, etc.
• zero banking charges for DD, SMS alerts, debit cards, cheque, etc.
• priority queue in bank
• Better inward remittance rates

Anything else I missed?
On above benchmarks, which bank is the best at lower MAB?

Free/ discounted locker fee
Based on what I read from others and my own experience, it largerly depends on how lucky/unlucky you are when dealing with the bank and how good/bad your RM is.
I had great experience with ICICI Wealth, but then my RM changed and it went downhill. General consensus is to avoid HDFC.

 

[CARDBITRAGE]

Why do we want to have top tier privilege banking account (Ex ICICI wealth, HDFC Imperia, etc)?

• Connect instantly to customer care via phone banking. Higher quality agents.
• Low Forex markup for international travel
• Free higher variant debit card with privileges like lounge access
• Cash backs and perks like 1% credit card bill payment, 20% off on bigbasket every month, etc.
• zero banking charges for DD, SMS alerts, debit cards, cheque, etc.
• priority queue in bank
• Better inward remittance rates

Anything else I missed?
On above benchmarks, which bank is the best at lower MAB?

Access to better credit cards. You can manage to even convert some super premium cards to LTF depending on the relationship with your bank. Some banks offer you a better rate on loans as well. RMs are a hit or miss. My experience with RMs so far isn't something to write home about. Again it is not your banking status, rather the relationship you have built with your bank that matters. At the end of the day, it's all just gimmicks to get you to increase your NRV/TRV(savings and term deposits) with the bank. That's the cheapest way a bank can raise money.

 

[Souvik]

Access to better credit cards. You can manage to even convert some super premium cards to LTF depending on the relationship with your bank. Some banks offer you a better rate on loans as well. RMs are a hit or miss. My experience with RMs so far isn't something to write home about. Again it is not your banking status, rather the relationship you have built with your bank that matters. At the end of the day, it's all just gimmicks to get you to increase your NRV/TRV(savings and term deposits) with the bank. That's the cheapest way a bank can raise money.

Very true and more than the benefits to the customer, it's for banks to highlight account holders for RM's to sell bank's products.