I have an experience of over 20 years utilizing the services of many banks. For both my business and personal needs, I have banked with Bank Of India, HSBC, HDFC, UTI and Allahabad bank. My transaction are also very frequent {more than 2 a day for sure}.
The new banks of today are very simple, quick and effective to deal with, provided YOU have kept up with times, technology and your IQ levels. To bank with one of these new banks, expecting to walk into their branch for every little issue and get it sorted out there immediately is incorrect. Then you should bank with the old fashioned union bank of India or State Bank of India.
After using the services of HDFC and HSBC for quiet some time, I was recommended Kotak Bank by none other than the HSBC represntative, only because they didnt have a spare locker while Kotak could provide one. Little did he know that within a year, I would shut all my accounts with HSBC and deal exclusively with Kotak.
In the past one year, Kotak has provided good service in every way possible, Thier branch staff both in Gurgaon and South Delhi are very polite, young and efficient. I have never (never) had to stand in a queue in ANY one of their ATM’s - that too in Delhi, where every ATM has a queue !! Even in the branch, the service is fast and effificent. Further, I do most of my transactions online - their online system has never been down, requests for new cheque books etc are always honoured and mails replied to within one day.
I recently had an issue where I made an online third party transfer to an incorrect account number. While most banks would struggle with such issues, I was surprised by Kotak’s efficiency. When I realised a mistake and put in a complaint online, their representative called from Mumbai, said he would solve the problem that very day. During that day, I received 3 updates on the issue, and before the end of the day, the transfer was received !!
The only crib I have with all these highly efficient banks - they do not want to give business credit easily. Kotak also does not offer home loans in Gurgaon. They do not even offer credit cards. But I dont need these services and I am happy.
I realise that least year, due to Kotak’s auto sweep facility, I earned an interest of about 6% on average, which I never got with HSBC or HDFC, and that made me shift accounts to Kotak.