What to look for in a preferred account relationship?
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Everybody expects something or the other from their bank. While some expect cooperative behavior, others seek guidance – and a good bank is capable of providing you all the help that you need. If you are a preferred account holder, then your expectations are also higher.
After the introduction of net banking and mobile banking, the need of cheques and demand drafts or visits to the banks has decreased considerably. Not many people are interested in a preferred account because even a regular savings account can provide most facilities.
However, there are customers who need more from their bank. For them, the facilities that their bank provides affects their financial status. Hence, features that the preferred account offers means a lot. If you are one of those people then make sure that you choose the right bank. Before choosing a bank for your preferred account, what should you consider?
Read here!
A committed relationship manager
The relationship manager must take care of your banking needs. He must be prompt in helping you. Whether it is about banking services or guidance for the procedure of loans, the manager must cater to your needs. Most importantly, there must be a sense of trust between you and your manager.
Business banking solutions
Not just personal banking solutions, the bank must offer you solutions for every finance-related problem.
Priority
The bank must put you on the priority list. Every hassle, every question, every application must be processed without delay. The bank must reduce your waiting time, and provide you customer-care services that make banking effortless.
Privileges
You must receive special privileges from the bank such as loan facilities or locker facilities. Being on the priority list entitles you to avail of a host of advantages from the bank’s offered services.
Charges
When you withdraw money from any other bank's ATM, you must not be charged (for the withdrawal or for just checking the balance). This facility can help you a lot if you are stuck at an odd place where your bank's ATM is not available.
Transaction charges
If you use net-banking services for NEFT or RTGS, your bank should not charge you for transactions.
Disclaimer: Copyright Kotak Mahindra Bank Ltd.
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