Query regarding what bank to choose

Personal finance
1

Hey there Trading Q&A community ,

I am 21 and was recruited by a software company (pay is 17 lakhs yearly) , they asked me to make an account in anyone of the 3 banks .

  • HDFC
  • ICICI
  • Standard Chartered

Which one should I prefer ?

Thank you

2

First of all, congratulations!!
I would suggest- ICICI since most of the companies have partnership with ICICI. So, in future, if you change your job, then you can continue to use the same bank account.

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3

Thank you for the advise :grinning:

4

I have only used HDFC out of the 3 and its a NO.

Again, my experience is based on 2008–2014.

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5

I would go for Icici if I am forced to choose between these three banks. My broker is Icici Direct and hence my account is with Icici Bank. They are fairly good. Their internet banking is also fine. No complaints.

A small niggling issue is they have a grid (numbers associated with Alphabets) which is printed on the back of their ATM. When you do NEFT/RTGS apart from otp, you need to put the numbers on the grid. This I found very irritating as I need to carry my card everywhere. Apart from this not an issue.

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6

Thank you for the info

7

Thank you for the information

8

May be irritating but it adds more Security.

9

Yes fully agree. Everything is done for the safety of customers, but I wonder printing the grid on back of the card is a good way, as I could lose my card,

I have noticed that Bank do not print account number on the ATM card nowadays, they keep advising us not to write password and keep it, if this is the norm, how come the grid is printed on the card.

For large value NEFT/RTGS, I do get a call from a bot or voice recorded line asking to confirm the transaction. This is now a additional feature.

I fully understand the reasons for doing this and it is for the safety of the customer. Not sure if printing the grid on a ATM card makes it any safer. The second irritant is carrying the card everywhere even when you travel or take a pic of the grid and keep it. Now is that not risky as well.

For this specific reason, I do not use this card for purchases at POS, use another bank card and keep this at home.

Since on the topic, BOB has started a new way of sending OTP when you register a new beneficiary online, first three digit comes on your mobile number. The remaining three digit comes to your registered email. First time around, I was wondering what happened and only when I read the instruction, I understood the methodology. Funny but respect their intention is to safe guard and protect the customers.

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10

There will always be debate on customer security and customer convenience like Zerodha desktop login, you always have to have Mobile with you!!!