ICICI offering me to port my account to my nearest neighbourhood branch

  • Thread starter Thread starter mhsabir
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the chaaal isIf they relocate ur account to a branch near you, they will get more business from u, rather than a distant located branch.
 
A/c Portability has already been in existence for many years at ICICI. in last 1.5 yr i too had changed my branch twice with both been 50 kms apart. my A/C no,cheque book,debit card all remained the same.They are just pampering you under the garb of "privileged" customer That Only you are getting this Privilege, reality is that every savings a/c holder can avail this facility since Core banking was implemented Arnd 7-8 Yrs ago. Yes it is true,every branch earns commission/incentive on getting/porting the a/c Especially if it is Privilege banking more the comm/incentive.Shift only if you Need.
 
For you at least they're asking for your confirmation. In my case, which was around three years back, they sent me a letter saying that my account has been shifted to so-and-so branch. I had not put a request for the same.
 
I understand what you are trying to say, that one would start using them for other bank-related services, which currently may be serviced by other banks. Thats fine, as everyone wants a piece of the pie. But any other negative impact? Is what I am thinking.
 
My thought is why would my old branch be happy to let go of me.

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Ah, need to explore that - They are saying existing transactions/instructions will not change .. But I wonder if people who transfer me money , need to change something in their payee list.
 
I understand what you are trying to say, that one would start using them for other bank-related services, which currently may be serviced by other banks. Thats fine, as everyone wants a piece of the pie. But any other negative impact? Is what I am thinking.

Nope no other Negative Impact other than a New Aggressive RM will keep calling you for All sort of (MIS)investments for a few weeks

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My thought is why would my old branch be happy to let go of me.

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Ah, need to explore that - They are saying existing transactions/instructions will not change .. But I wonder if people who transfer me money , need to change something in their payee list.

Nothing changes in the payee list or in your online a/c as the branch name and other stuff gets automatically updated in the system
 
Ok, So will people who have added me as a payee, need to change MICR or something before they transfer or even that would be taken care on its own (Thats the most important thing for me)
 
MICR code wll change rite? Then how come they have given that ECS wont have any problem...? :O

Yup. MICR/IFSC code will change and the institutions to whom the old branch cancelled cheque was given would need to be given the new branch Cancelled cheque

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Ok, So will people who have added me as a payee, need to change MICR or something before they transfer or even that would be taken care on its own (Thats the most important thing for me)

I don't know about other banks, but within icici to icici no need to change anything
 
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