SBI WEALTH BANKING

[aashokk09]

recently came to know about this banking program. Has anyone using/used this SBI wealth banking program? anything good in this program ?
procedure to upgrade savings account to wealth saving program

Individual Clients - Wealth Management

sbi.co.in

 

[Intruder]

Hi,
I am wealth client of SBI.. Its not a great program as such. U needn't to hold money with sbi to get the programme.. Its not worth it

 

[Bhagat Singh]

Hi,
I am wealth client of SBI.. Its not a great program as such. U needn't to hold money with sbi to get the programme.. Its not worth it

could you please tell in details? how to get sbi wealth banking. how much balance we need to maintain etc.

 

[aashokk09]

Hi,
I am wealth client of SBI.. Its not a great program as such. U needn't to hold money with sbi to get the programme.. Its not worth it

what are the pros with this program? I already have good balance in sbi saving account but their features and services are terrible. I wanted to get hold of ELite card FYF as they mention and banking services without any charges as they usually imply many sms, anual charges.
can you help with the enrollemnt details

 

[CARDBITRAGE]

Just your basic HNI account. Free card debit and credit(only first year), free demat acc and free stock-related reports & newsletters. I've had a very ordinary experience with SBI. If you have an option, I'd suggest you to try opening HNI accounts with private banks which provide much better benefits.

 

[CARDBITRAGE]

could you please tell in details? how to get sbi wealth banking. how much balance we need to maintain etc.

Upwards of 30L in relationship value.

 

[aashokk09]

Just your basic HNI account. Free card debit and credit(only first year), free demat acc and free stock-related reports & newsletters. I've had a very ordinary experience with SBI. If you have an option, I'd suggest you to try opening HNI accounts with private banks which provide much better benefits.

Bro as said earlier I and my whole family has account in sbi and maintain good value. Downside is their time to time charges, sms, cheque, etc and very poor customer support. As this banking program atleast we can avoid these things and not planing to move funds from govt bank soon.

Can you help with the enrollement process if any?

 

[CARDBITRAGE]

Bro as said earlier I and my whole family has account in sbi and maintain good value. Downside is their time to time charges, sms, cheque, etc and very poor customer support. As this banking program atleast we can avoid these things and not planing to move funds from govt bank soon.

Can you help with the enrollement process if any?

Just talk to your branch manager. He/she will pass the request to their Wealth team. They will analyze your CIF numbers and if eligible will convert your accounts. But they are sometimes hesitant to convert existing customers. On a side note, there will be no change in customer service. Since your family has a lack of trust in private institutions, you could consider BOB Radiance which has better benefits.

 

[aashokk09]

thanks brother

 

[ramirami]

Their default form has consent / liability waiver so that your RM / bank rep can execute transactions for you when you call them over the phone. Is this not insecure? The only advantage seems to be a Visa Signature debit card issued without any fees. So, overall, I think it's not a very useful program and adds too much risk for no real benefit.

 

[aashokk09]

Their default form has consent / liability waiver so that your RM / bank rep can execute transactions for you when you call them over the phone. Is this not insecure? The only advantage seems to be a Visa Signature debit card issued without any fees. So, overall, I think it's not a very useful program and adds too much risk for no real benefit.

thanks for feedaback

 

[aashokk09]

Just talk to your branch manager. He/she will pass the request to their Wealth team. They will analyze your CIF numbers and if eligible will convert your accounts. But they are sometimes hesitant to convert existing customers. On a side note, there will be no change in customer service. Since your family has a lack of trust in private institutions, you could consider BOB Radiance which has better benefits.

what are the features of BOB Radiance ?

 

[abhi_cc]

The person is opening a Investment Services Account for me while upgrading to wealth status.
Any idea about this

 

[abhi_cc]

Any one who has wealth banking, is there any advantage in terms of getting premium SBI credit cards or getting existing cards to LTF?

 

[Desu Sarath]

Any one who has wealth banking, is there any advantage in terms of getting premium SBI credit cards or getting existing cards to LTF?

No LTF. Based on profile and eligibility, one can get Elite/prime FYF.

 

[abhi_cc]

@Desu Sarath Any other advantages of SBI wealth?
I am primarliy getting it for free RuPay select debit card for international lounge access for my parents

 

[Desu Sarath]

@Desu Sarath Any other advantages of SBI wealth?
I am primarliy getting it for free RuPay select debit card for international lounge access for my parents

Same here. There is no use of this banking at all.

They assigned RM to me, when I asked him about the Swift/bic code for my wealth account for inward remittance, he did not even respond.

 

[abhi_cc]

inward remittance

I also need inward remittance. Which bank are you using currently?
I have done this with PNB and IDFC First.
PNB's support is really bad and IDFC First has a 10$ indirect charge on all remittance marked as SHA

Same here.

https://www.rupay.co.in/our-cards/rupay-debit/rupay-select here it says international lounge but in TnC there are no international lounges :/

 

[Desu Sarath]

I also need inward remittance. Which bank are you using currently?
I have done this with PNB and IDFC First.
PNB's support is really bad and IDFC First has a 10$ indirect charge on all remittance marked as SHA

https://www.rupay.co.in/our-cards/rupay-debit/rupay-select here it says international lounge but in TnC there are no international lounges :/

I use ICICI currently. They are charging flat 5 paise for my organisation.

That also depends on the amount of remittance.

HDFC/Axis charges 10 paise to 15 paise for my organisation.

 

[abhi_cc]

This 5p is on RBI announced rate that day https://www.rbi.org.in/scripts/referenceratearchive.aspx
OR
5p on TT buy rate announced by ICICI https://instantforex.icicibank.com/instantforex/forms/MicroCardRateView.aspx
OR
Is it IBR which is totally unknown?

Also, there is no GST or any other charges other than this 5p?