ICICI bank is the first new generation bank that started operations in Attingal. It is situated away from the crowd, in Chirayinkizhu Road, near Savithri Bar (The bar is unique in its location. It shares the compound wall with a well-known school in the area, DIET, earlier known as BTS.). The lobby and the interior look like that of a posh bar hotel. But the service is confined to excellent lip-service. I started an account there and requested the IFSC number of the branch for conducting a transaction through internet. IFSC number? They appeared bewildered at my request. After some frantic mouse clicks and desperate hits on the keyboard, the person in the counter approached his superior, the one inside the cabin. After some time he came out and said, they will inform the number later through telephone.
I did not receive any call for the next two days. So I went there. They said something like this: since it is a new branch, there is difficulty in tracking the IFSC number. They repeated that they will inform telephonically. Wiser by the first bite, I obtained their telephone number and rang them the next day. Still they did not have the IFSC number. I patiently called them on the next day. Thankfully they found out the IFSC number of their own branch apparently as if locating a long-lost ornament. In the meantime, I went to South Indian Bank in Attingal, located opposite to Private Bus Stand, and asked the IFSC number of the branch. The person in the counter took a piece of paper, immediately scribbled the number and handed over the paper to me. Shall we call it a generation gap of banks?
I did not receive any call for the next two days. So I went there. They said something like this: since it is a new branch, there is difficulty in tracking the IFSC number. They repeated that they will inform telephonically. Wiser by the first bite, I obtained their telephone number and rang them the next day. Still they did not have the IFSC number. I patiently called them on the next day. Thankfully they found out the IFSC number of their own branch apparently as if locating a long-lost ornament. In the meantime, I went to South Indian Bank in Attingal, located opposite to Private Bus Stand, and asked the IFSC number of the branch. The person in the counter took a piece of paper, immediately scribbled the number and handed over the paper to me. Shall we call it a generation gap of banks?
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IFSC Codes of SBI, Bank of Baroda, Syndicate Bank, ICICI Bank, AXIS Bank and almost all the banks of India.
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ICICI uses a slightly complicated system. They call it cumulative minimum balance or some other such term. The minimum balance amount is Rs. 5000 for a non-salary savings bank account. But it is the cumulative minimum balance for three months or so. That is, they take the sum of the balance for 90 days and divide it by 90, and the result should be more than Rs. 5000/-. Clear?
If you do not have this minimum balance amount, they charge Rs.900+ (I think it is 913) per quarter.
Moral of the story: Unless you are rich enough, try to start account in some other less fancied banks. In my experience, South Indian Bank and Dhanlaxmi bank are the best.