Email regarding ICICI Wealth Management Downgrade
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Anybody else recieved this email ? I have been using it for lacs of transaction though not maintaining much balance(around 70-80k)
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I was planning to open this account.Whats the new update?Do we have to compulsorily maintain MAB in this?
I understand that such sms are common and they do not downgrade as per BM, ICICI. If at all downgraded, close the account
i also got the same email.
Nowadays, everyone has this account. RMs advertised it as zero mab and opened it in bulk. Excess of anything will result in unsustainability. Contact your RM, they will have some way out.
Does MF investment in ICICI funds through Kuvera count? I was recently upgraded to privilege automatically even though I have <1L balance and 0 tx history. Also got pre-approved Rubyx for 1.6L. I do have nearly 10L invested in ICICI's Nifty fund though (direct MF via Kuvera).
Was rubyx your first ICICI credit card? And was LTF?
i think keep 10 lakh mab until November and wait for few more days then withdraw and keep 1 lakh mab. I keep 1 lakh mab in hdfc imperia. -- no issue faced .contact RM they may help. Always be clear with rm before you open account. I told Rm that i can max keep 1 lakh in my account constantly not more than that ...ocasionally in quarter end i transfer money from my bandhan bank account on there request .
Hdfc is on classic since years no issue at all.
All this is natural evolution. People misuse and then bank will apply safeguard.
Just be careful. They may not charge now but once they start doing it, be active and close the account or start maintaining balance. They may reverse charges only once or twice but not more.
Account age and location?
1 year mumbai
Does it matter?
It's a 0 mab with MC world debit card account and 0 fees on everything which will downgrade to 25k mab ac with good for nothing dc
Your Accounts & Investments held with us are below this threshold amount. Please maintain the minimum required balance by Nov 22, 2023 else we may have to convert your Account to Privilege Banking as per your current DIV. This calls for a Minimum Average Balance (MAB) of ₹25,000, failing which, MAB charges will be applicable. The MAB charge details are available at
https://www.icicibank.com/service-charges/-sav....
Please refer the Common Service Charges for details on Charges & Services at
https://www.icicibank.com/service-charges/commo...
*DIV (Deposits & Investment Value) includes:
• Savings Account Balance & Current Account Balance
• Term Deposits
• Mutual Fund Holding Value
• Market value to be considered for Life Insurance in case of Unit Linked Insurance Plans (ULIPs) and the premium amount paid till date, will be considered for other policies
• Unredeemed Structured Product/Portfolio Management Service (PMS) Value at Investment.
• The above to be considered for total relationship of the customer, irrespective of the number of Accounts/Customer IDs, where the applicant is the Primary Account Holder/Investor.
Surprisingly when I opened icici net banking after months I see icici wealth management on the top with black color theme..does it mean my account got converted to wealth management account? Interestingly my balance is around ₹1300 since last few months and also my salary is not getting credited to icici but to hdfc ..don't know on what basis they upgraded but one thing my account is 10 years old account