Hot Deal

Having multiple bank accounts? How do you keep track ?

865°
Helpful
DeleteThisAc...

How do you keep track of the charges, balance or unnecessary deductions etc?

Just today SBI deducted Rs. 20 for PMSBY without my consent & I raised a complaint for this.

Luckily, I got an email alert but I can't rely on their alert mechanism only. There are other charges like debit card, or any other random one or just like today's insurance without my consent which might be deducted from any of the multiple accounts without any alert.

SMS alerts are disabled since I don't wanna pay for what I won't really use & emails are more reliable for me which are turned on for all accounts. One can't keep checking the statement or app repeatedly for multiple bank accounts so what's the solution.

I'm talking mainly about accounts that are necessary & only have the essentials activated like card etc. I'm also talking primarily about the unexpected charges that are not in the normal charges list, like this insurance debit without consent.

Expired
Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
81 Comments  |  
19 Dimers
  • Sort By
Benevolent Benevolent
Link Copied
Close bank accounts that are not primary.
Deal Cadet Deal Cadet
Link Copied

I have closed my primary idbi bank account and made kotak 811 account as primary..

All banks looting customers

View 1 more reply
Pro Entertainer Pro Entertainer
Link Copied

Maintain only zero balance accounts, close unwanted debit cards. Hold atleast one physical Debit card for cash withdrawal purposes.

Deal Cadet Deal Cadet
Link Copied

I have surrendered my one and only physical debit card too..

No need to pay 300 annual charges

Benevolent Benevolent
Link Copied

All the charges are mentioned in the "Schedule of charges", read those before opening any account. I have 12+ bank account, none of them is having any charges that is not known to me

Deal Cadet Deal Cadet
Link Copied

The schedule of charges get updated every month and after opening account, we can't do anything rather than paying charges or closing bank account

View 1 more reply
Benevolent Benevolent
Link Copied

DMed you @Shubham021

Deal Cadet Deal Cadet
Link Copied
Is bank of baroda giving free rupay platinum card?
View 52 more replies
Avant Garde Avant Garde
Link Copied

My way;

I have 5 bank accounts

Au bank: deducting ₹46 a month apy+ 177 debit fee..

Punjab and Sindh bank: sms charge of ₹17.7 (I tried closing that but branch says it's compulsory)+177 debit card

Kotak 811 ;free account

Indian Bank: sms charges+ 295 debit card(will deduct in next year so will close before that)

Canara bank: will close soon have 0 balance in it

Tips/suggestions

Always review transaction statement monthly fix a date for that...

Close unnecessary accounts

Post Tycoon Post Tycoon
Link Copied

There are now facilities to withdraw using only phone at ATMs if I am not wrong.
Using mobile number..?

My sbi and axis banks are charging me with debit card and sms charges.

If anyone has a full proof solution then please let us know..!

Thank you.

Benevolent Benevolent
Link Copied

I had 21 accounts. I closed 11 last month. Now 10 remaining out of which 8 are zero balance accounts. And I plan to keep all of these accounts. If I want to open an account in a different bank then I will first close one out of these 10 before opening new. One is main account to use for everyday. In rest others I keep the same amount and check once every month so I get to know about any debit or credit in those accounts. 

Blaze Blaze
Link Copied

What's the purpose of so many accounts

View 6 more replies
Benevolent Benevolent
Link Copied

1.5 to 2 years

Post Tycoon Post Tycoon
Link Copied

Nsdl account.?

What is it.? Any one know.? Is it nsdl jiffy.?

Post Tycoon Post Tycoon
Link Copied

Summary of all the comments is

Open NSDL aacount or BOb, or kotak, AU accounts But 0 MAB accounts.

Then check for sms and DC charges and opt out of sms alerts and choose virtual debit card option.

If anyone likes to add something would be great help.!!

Deal Cadet Deal Cadet
Link Copied

1) I don't know the type of my account. There is no information regarding type on the passbook. How to check type of saving account in bank of baroda? 

e.g. Baroda Basic Savings Account or Baroda Advantage Saving Account

2) How to check Minimum QAB (Quarterly Average Balance) for any bank

Generous Generous
Link Copied

Even I'm looking to expand my horizon and open accounts in a few more banks. Currently I have :

SBI (0 MAB)
PNB (2k MAB)
HDFC Bank (0 MAB, Salary, Preferred Banking)
Paytm Payments Bank (No idea about MAB)
Bandhan Bank (5k MAB)
Digibank by DBS (10k MAB now, will close this as I don't see much value from it now)

Thinking of opening account in - AU / Jana Small Finance Bank and looking at this thread, Bank of Baroda can be considered which offers 0 MAB account and free virtual RuPay Platinum debit card

IDFC First Bank I was thinking of having but for 25k MAB, I don't see any benefit of parking that amount for no use at all.

IndusInd / Kotak Mahindra Bank ... never thought of keeping, how are they and any specific offer I can avail of?

Any other suggestions for opening an account and benefits it has which can be beneficial?

Benevolent Benevolent
Link Copied

sabhi khato me zero balance, track karne ki tension hi nahi.

Deal Lieutenant Deal Lieutenant
Link Copied

@mandalorianmode511 

Mail to branch stating your concern for the refund. You can find the branch email id in your statement. 

If they didn't refund or response for a month then go with RBI OBDUSMEN. It will work fine.

Helpful Helpful
Link Copied
Yeah! I mailed my branch & submitted a complaint on the official portal.

The manager called going gaga over Modi & the insurance policy masterstroke.

I simply asked to refund & stop the policy which he agreed to.
Deal Newbie Deal Newbie
Link Copied

Account Aggregator provide all in one solution for multiple accounts..

replyuser
Click here to reply
Reply