I have been a silent member of this portal but I just cant keep my mouth shut anymore. And the reason is the pathetic banking experience with YES bank.
Let me start with the one and only good thing about the bank which is its ATM tie-up with other banks which lets u withdraw cash free of cost from most of the banks available.
Now the real story begins, this bank says on its homepage that it is India’s safest and the most efficient bank(as per some magazine). But the truth is this bank has no idea of what safety means. Nobody is bothered about you and your money once you have opened an account. Let me give you some instances:
You lost ur debit card, what will be ur first step? I guess to inform the bank and block it! But if a YES bank customer loses his card on a weekend, he has to wait till Monday morning to get his card block as YES bank staff does not work on Weekends. And weekend is the time you shop and go out so the chances of u losing ur card on a weekend are quite high.
You go to an ATM to withdraw cash, you get a message saying transaction declined. You did not receive the cash but because you are a customer of India’s most efficient and safest bank, the money has been debited from ur account. This transaction never gets revesed until you find it out on time and get after their life to reverse it. So if you want to open an account here please use net banking and check your account daily to find out if some account has been wrongly debited from ur account yesterday.
You go to an ATM to withdraw cash which you really need urgently, please be ready to get these errors: Link failure, Host down, Your daily limit exceeded (though u have not withdrawn any cash earlier) plus for all these your amount will definitely get debited. And if you use any other card in the same ATM, it works perfect.
A sincere and true suggestion, please do not go for this. I would suggest you to go for some local bank instead; at least it will be safe.
Companies who are planning to have salary account for ur employees here, please never ever think about it, u are going to have complaints from all ur employees.
YES bank is the most inefficient and unsafe bank of India.