Difference Between Sbi And Other Banks In India

Hi to all,

I have a Axis bank account since few years, due to certain reasons i fail to reach the Average quarterly balance most of the time. Yes it's my fault.

So i have to pay 800+ each 3 months just as fee for that.
from now i don't want to pay for the and ready to close the account.


I see SBI offering accounts with less minimum (at the moment no minimum), savings account.

I am ready to open that account and use SBI solely, so that i don't have to pay 800+ every three months for axis and other banks which have AQB requirement.



But my main problem and doubt is that of this,

Does SBI has the potential to receive payments from paypal, payza, Moneybookers and other online payment processors.

Will the processing time take very long?

Does transaction from other indian banks to SBI take more then 2 hours,


And is there any disadvantage on SBI side when compared to axis and others?



i understand i am asking lot of doubts but i want to make big move of closing an account in one bank, so i want to be as clear as possible on what i can get from SBI


THANKS

 

You can go for current account where you wont need to maintain any kind of balance in any bank.

 

Thanks for the reply, but i am looking for savings account only at the moment and the potential of SBI when compared to other banks for online and offline transactions.

 

Now you can go with any bank. All are working with paypal ,payza etc

 

thanks for the help.

 

I had the same problem of AQB .
So i decide to change the bank account and went with SBI there i have to manage 1K inr as minimum balance and i get a VISA card so with that card i am able to sign up for paypal.

SO in short SBi is great now.

now lets answer your questions

Does SBI has the potential to receive payments from paypal, payza, Moneybookers and other online payment processors.
Yes it does

Will the processing time take very long?
I usually receive Bank transfer from paypal in 2 days.

And is there any disadvantage on SBI side when compared to axis and others?
Sometimes a small problem takes a good amount of time to get solved This is because of the GOV Sector and the other banks are private Sector.

Here in this question can you please explain more about what transaction you are talking about.
Does transaction from other indian banks to SBI take more then 2 hours.

Hope this helps
thanks

 

Thanks a lot for such a detailed reply, cleared nearly all doubts.

Here in this question can you please explain more about what transaction you are talking about.
Does transaction from other indian banks to SBI take more then 2 hours.

It was about transactions from other indian banks to SBI and SBI to other indian banks, sending and receiving.



Also friend i have 2 last doubts,

1)

Some people stated that at times when the withdraw money from sbi account through other banks atm, they won't receive money but the money get deducted from sbi bank

Did it ever happened to you or is it normal?

i am asking this because if i close axis account then i got to depend for sbi for all transaction including urgent ones.


2) you have talked about some delays when we face some kind of problems, yes mate we all know that government support can be slightly slow at times,

but will the problems often and if possible could you tell me the nature of problems if it's not personal, is it like problem in withdrawing in atm




But now i am happy with the service of SBI after reading your replies.

Will close axis and open SBI account soon.

Thanks a ton friend.

 

Some people stated that at times when the withdraw money from sbi account through other banks atm, they won't receive money but the money get deducted from sbi bank

This thing is common in all the banks.
Also there is a rule that if you report this to the bank and if the bank doesnot refund back your money in 7 days then you can have 10% interest or something like that exactly i don't remember.
i read that on a notice board in hdfc atm.
i have faced this problem in HDFC , AXIS ,BOB ,ICICI and also in SBI


but will the problems often and if possible could you tell me the nature of problems if it's not personal, is it like problem in withdrawing in atm

Withdraw is Instant .
Problems like getting a New card takes 15-20 days while in axis it only takes 7 days and in ICICI we get that instantly

Thanks

 

All doubts are cleared friend,

thanks for all the valuable info's.

 

You are most welcome

 

Hi, I don't Know Why You Close Your Axis Bank Account. I also have an account with Axis Bank & I am Also Facing The Same AQB problem, But I have opened a Demat Account With Axis Bank & My AQB Requirement has been Removed. I don't Know about SBI Debit Cards But My Axis Bank Titanium ATM Cum Debit Card is Accepted By PayPal & I have used it for 1 Years Without Any Problem.

 

SBI is the best govt bank and yes u can do everything with SBI just like other private bank
in sbi only take some more time but it will work .
nothing else.

 

Thanks for clearing the doubts friend, helped me a lot.