Hi every body !
I always thought that the premium banks like Deutsche Bank`s would be absolutely great in service. That dream was fulfilled this April when my company asked us to open our accounts in Deutsche Bank - because it was the closest and their marketing team effectively sold the bank to us. I had thought of saying goodbye to other banks - now that I had an account in the great Deutsche Bank. Little did I know that I would be treated to the old style of banking - our old SBI, PNB, Canara, etc ( when ICICI was not there).
In the begining, I was very impressed by their internet banking page ( it has a virtual keypad for security - you have to take the pointer over the characters and press them) and could not wait to access my account. I did - only after locking my banking account three times. The contact person was very helpful and put in the request each time - which was delivered promptly. My problem that the PIN for internet banking was confusing and I was not able to distinguish between zeros and O`s. Other guys were also having the same problem ( well, this was new for us) and I requested the Executive dealing with us to come over and help us out - I received a snobbish remark -
" ...... everything will be explained. The problem is because you do not know how to use internet banking ."
Excuse me !!! - I have been using ICICI and SBI internet banking facilities for years, I pay off my bills online, use online services for my financial dealings as much as possible and I certainly do know my way arround a PC. The result was a banged phone ???? ( cutting a customer off - great service). Anyway, after locking up my account three times, I had finally managed to figure out the correct way with some help from a Lady at the call centre and managed to get to the bottom of things.
Apna haath Jagannath ... right ?
The effort was not worth it - the site is very basic ( verry verrry Limited Options) and I can do more with SBT`s website.
I was due for a long deputation abroad and wanted to convert my single account into a joint account with my wife and began my preparations about 6 weeks before my travel date. The executive requested me to come to the branch and fill up the forms and the account will be made into a joint account - " no problem - just get a photograph alongwith address proof and identity proof ". I was very happy - but little did I know that this was the begining - I was given three different forms on four different visits and nobody knew which form will be valid. I was asked to submit identity proof and residence proof - which I did. But the response was " these documents are not enough as per RBI`s notification - you have to get blah - blah also ". The documents were in line with the requirements printed on the form and nobody had told me that these were not enough . The response was equally good -
" .. RBI has very strict guidelines and we cannot do anything about it. The person must have forgotten to tell you this ".
When I said that I have come four times with all the documents and everytime a new requirement crops up, I was given a royal stare. The issue was resolved after three weeks and numerous visits ( I was contemplating dharna at one time) - I had to escalate the matter both in the Bank and with my accounts dept.. In comparision to this, ICICI made me wait for 30 minutes in the queue at the branch and the executive at the counter got all forms filled up and after three days, my wife`s debit card and other banking stuff for the joint account also arrived in the mail. Mind you, I was converting both accounts to joint accounts. I still dont know whether I was dealing with RBI or Deutsche Bank ....
On the other side, their interest rates on the flexi - deposit schemes (for short periods) is better than other banks. The bank is still a short walk away from the office ( I did not count that as a benefit because of internet banking till my recent experiences) and there is a short queue ( maybe becuse other people decided to shift accounts ?). The debit card is international - so my credit card use has also come down - beneficial for me.
I would suggest State bank of Travancore - they have samll branches and are very courteous and service is damn good.
PS : I just got a mail from my wife - her Deutsche Bank card is locked up on its second transaction ( yes, second ). She is again using the old cards - whew !