Mar 28, 2008 08:24 AM
15509 Views
I was reading several reviews about SBI. I wish to respectfully disagree.
Please give these guys a break!
I have seen banks on 3 different continents and had accounts with several banks. I think SBI is doing a great job for a bank with all its handicaps.(being a public sector bank etc.) **My experience with SBI has been nothing short of GREAT.
Let me rewind a bit. Several years ago I decided to go to USA and have been living there ever since.
When I left to become an NRI I had expected the "Phoren" banks to be like a slice of my favorite icecream.(like a luscious slab of Kesar-Pista floating in heaven). But - I was disappointed - I came straight back to earth or rather PATAAL. The banking system in western countries is completely money-driven.
i.e. YOUR MONEY.
Your money and your ability to pay drives their response to you. If you have a million$ you are king. If you are average you stand in long lines for any transaction. If you are poor you are discouraged from entering the bank. I have seen poor people been driven to tears in large well-known banks.
CITI, Chase, BOA etc. - all are driven by the profit motive. Not by service.
They levy fines for: late payments, withdrawing more than 4 times in a month, writing a check while your saving account has money but not your checking account, paying 1-2$ for every check you write, fees for having a checking account in your name, fees for the ability to write checks, fees for printing checks etc. You name it - and there is a fine/ fee for it.I know all this from personal experience.
Sometimes they will call the fines/ fees by other fancy names. Just a ploy to kidnap your dollar.
In the US I recieve atleast 2 credit card applications in the mail from banks I already have credit cards with.(why - I do not know - but I suspect they want me to have more cards since I pay them every month) They like people who pay promptly.
Atleast 2 times a year I find that the limit on my credit cards has gone up.(they want you to spend more) I have to call them to reduce the limit- fearing that if I my lost card atleast I will have some protection.
The SBI Mahim branch(in Mumbai) I go to has some stinkers. They do work as if they are doing you a favor. But the rest of them are courteous, knowledgable, efficient and prompt. As a NRI I even get some special priviliges. I just go to an officer who deals with NRO/NRE accounts and they deposit my check without having to fill up a form in triplicate and providing 3 photocopies of the check (as required by the Union Bank branch I used to go to). There is no ridiculous minimum deposit amount(like the amont required by HDFC, ICICI, CITI, HSBC and other Phoren sounding banks. These banks force you to close the accounts if your deposit falls below 1 lakh or something. My SBI account is rarely over a few thousands- still I recieve good service.
On line SBI is a good website. It is better than my Bank of America website! It is easy to navigate, pay bills, check the balance etc.
Overall SBI is great. Just ignore the SARKARI babus and focus on the good people who work there!
