Sep 19, 2006 01:49 PM
4748 Views
I did not want this to be crib review, so I will relate problems I faced with Kotak Mahindra Bank and also good points about it. They start with being good. They will send their officers home to open your account and will call you back in case you call them regarding any issue with banking. And ofcourse I like their concept of any ATM access, though I wonder why it whouls be a premium service? Well, today every private bank is doing that and better. What they fail to do is contain their customers.
Banking Issues
Transferring money online to Kotak takes takes 3-4 days. Other banks do it faster, usually 2 days.
Their check pickup and delivery takes 4-5 hours. Other banks make it in an hour.
You will not be allowed to shift your account from one branch to another.
Their customer care executives are not knowledgable. Will usually hang you up, look for the answers and get back to you. I thought customer care people are the people who know answers to product.
Officers at Noida Branch do not know what they should be doing. with customers They asked me a letter from my wife to verify my wife's signature, that is after making me wait for 2 hours!! The CP branch people did it without any questions?
Integration with other services
Their Kotak Securities is not integrated with Kotak Bank. So if you are thinking of having a great experience with Kotak Securities if you have account in Kotak Bank, forget about it. When talking of documents, they will act like any other public sector entity.
Technical Issues
Being a geek, I can not resist stating issue with their banking site. Their online site certificate is not authenticated by a Certification Authority. What this means is, anyone can be phising in their name, that means, less security for your online transaction.
Their site is slow and shows up PAGE NOT FOUND error several times. Though for any online transaction, they will send you a courier stating amount transferred. Thank you very much!
I am having really bad experience with these people. When I decided to open account with Kotak, I was really impressed the way they approached and their idea of "any ATM" banking, but with time I have learnt that its not just ideas that make a product successful but people behind it.
I will suggest that unless someone writes a review appreciating banks performance, i.e. Kotak improves, you restrain from getting into their "sweet tantrums".
