Banking the old fashioned way. Review on Using Traditional Banks

I have been a customer of Punjab National Bank for more than 14 years now. Im aged 25 now; I opened my account as a minor with my mother. As a atleast-once-a-week customer of this Nationalised bank I have personally seen a rapid change in the way these banks treat their customers; I have definitely seen an improvement.

Till about 3 years ago, the bank employees really cared two hoots about who you were or what you wanted to accomplish during your visit to their branch. They were often rude and unhelpful. Suddenly I saw these banks getting ISO certified and new employees coming in. I suddenly saw these employees smile when I came in to meet them. I thought it was a superficial put-on. To my utter amazement they have continued to be the most hospitable people to bank with. And I have got similar feedback from my friends who bank with other nationalised banks.

In the last 5-8 years we have seen slick banks like ICICI and HDFC come in. I have been a customer of both these banks. And my personal experience has not been good. These guys are all smile but their service is no good. I cannot help but feel that they are trying to pinch money out o your pocket on some pretext or the other. For example, HDFC offered me a free Demat account for the first 3 months. I never asked for a Demat account, I got it automatically. I never used it. In the fourth month HDFC automatically deducted Rs.255 from my account for maintanance charges for the Demat account! They never asked if I wanted to maintain the Demat account! Why do these banks take 7 days to issue a cheque book when Nationalised banks give it within 30 minutes? Why do we have to maintain Rs.10, 000 as minimum balance in these slick banks when Nationalised banks ask for only Rs.500 or Rs.1000.

Why should I treat these slick banks as my preferred banks of choice when I get much better and prompt and friendly service from my trusty old Nationalised Bank?

I continue to bank with Punjab national Bank. I have closed my accounts with ICICI and HDFC. Because the services offered by Nationalised Banks match those offered by private banks.