Got message from Lakshmi vilas bank

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Dear Customer, This is to inform you that the Bank is placed under 30 days moratorium by RBI up to 16th December 2020 in view of the Proposed Amalgamation of LVB with DBS Bank India Ltd. On behalf of the Bank, We assure that all your deposits are safe and ensure that normalcy of operations will be restored by the end of the Moratorium period. As always, we request your continued support during the moratorium period.

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My account is zero relaxed relaxed I opened through online mode and complete kyc. It’s a zero balance account. Hope it merger with DBS and I can bypass that minimum 5000 balance limit

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XiJinping00 wrote:

My account is zero relaxed relaxed. I opened through online mode and complete kyc. It’s a zero balance account. Hope it merger with

It’ll be converted to a dbs savings account and all tncs will apply same as dbs regular sb acc.

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DBS is presently the most financially sound bank in India. Definitely a good deal, given the circumstances.

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BubbleBoyChickenLittle wrote:

It’ll be converted to a dbs savings account and all tncs will apply same as dbs regular sb acc.

I didn’t think so. When karur vysya bank merger with kotak my account remained with zero balance with platinum visa cards.

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If any bank is placed under moratorium, will it affect locker services ?

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MrKool_JJ wrote:

They have very limited branches in India.

In kerala no branch at all. I had online ekyc . But that account expired because of not completing kyc within one year.

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smz wrote:

If any bank is placed under moratorium, will it affect locker services ?

It should not and will not…

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XiJinping00 wrote:

In kerala no branch at all. I had online ekyc . But that account expired because of not completing kyc within one year.

That’s the main problem cry

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Bank Mergers happens easily on paper and asset calculations.

Actual merger might take years.

For starter – Bank open new accounts only in the merged entity and gradually shifts customer from the merged bank to merger bank. (By issuing new passbooks, cheque extra)

Big or regular customer/business professionals gradually switches themselves to the merger(new parent bank) for better banking facilities and better acceptance.

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MrKool_JJ wrote:

They have very limited branches in India.

By this merger. Physical presence is going to here na.. athu oru +ve aayi…
Still using digibank from 2015/16.
Kyc did’t expired. Don’t know y

Was planing to stop using due to this 5K min and no more debit card replacement to Kerala address.

Now hopefully. blush. Will continue.

UPI is robust.

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panchabhut wrote:

DBS is presently the most financially sound bank in India. Definitely a good deal, given the circumstances.

I think there huge difference in how both of their branch operates.
Unlike PSU merging, this will be difficult for DBS.

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altecher wrote:

By this merger. Physical presence is going to here na.. athu oru +ve aayi…
Still using digibank from 2015/16.
Kyc did’t expired. Don’t know y

Was planing to stop using due to this 5K min and no more debit card replacement to Kerala address.

Now hopefully. blush. Will continue.

UPI is robust.

Malayali da

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altecher wrote:

By this merger. Physical presence is going to here na.. athu oru +ve aayi…
Still using digibank ffrom 2015/16. . Kyc did’t expired. Don’t know you.

Was planing to stop using due to. This 5K min and no more debit card replacement to Kerala address.
Now hopefully. blush. Will continue.

UPI is robust.

So you mean to say from you will going to laxmi villas for your txns after the merger right?
But still you have to pay dbs their penalty if you don’t maintain 5k i guess.

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B3A5T wrote:

I think there huge difference in how both of their branch operates.
Unlike PSU merging, this will be difficult for DBS.

Absolutely. LVB bank offers many low balance even Rs 100 account to students

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MrKool_JJ wrote:

So you mean to say from you will going to laxmi villas for your txns after the merger right?
But still you have to pay dbs their penalty if you don’t maintain 5k i guess.

LVB will forgone. Right. ?

Actually I don’t mind maintaining 5K.
But as my debit card is gojng to get expired by next year.
April 2021. ( If I remember it correctly)

So, with out this merger . There’s no replacement DC, as per current DBS policies

That was my apprehension.

That’s going to go away with this meger.
And some where read that DBS is going to launch credit cards too.

So..looking forward now

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XiJinping00 wrote:

Absolutely. LVB bank offers many low balance even Rs 100 account to students

Digibank was a relief with unlimited atm withdrawal s and no transfer fees.. So I think, they’ll play it cool.
As they are going to get LVB atm network. They could bend a little.. atleat for couple of years . Like 5..

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Any merger will create issues for the customers.

Stay away from both banks until they settle down with complete integration of backend systems.

Hint: Trust issues between employees of losing their jobs. They concentrate more on securing the job (existing or new) rather than servicing the customer.

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