Wednesday, 26 Jun 2019

Which bank in India has the best internet banking experience?

Axis Bank, without a single doubt. The worst of all.

While opening my salary account , their agent told me to open a Demat account which would be free for lifetime with zero charges whatsoever.

The next year i got charged Rs. 500 + taxes, without even using it even once. And it is happening again every year.

I tried closing the account by submitting an application to their branch after withdrawing my money, but they are not closing it and now applying “Consolidated Charges” for not keeping up the balance(plus the demat account charges). I have now moved out of India, so don’t really care now. The balance stands at -740 now, the last time i saw.

They are looting people openly with their scam schemes since they know that no one bothers to go to consumer court for 500–600 Rupees.

Never ever ever ever, open an account with Axis bank.


As per your question the User Interface of ICICI, AXIS & even SBI are quite good because of the applications responsive & interactive design.

ICICI always stands out in certain aspects like technology upgradation, plugging in enhanced features required to user, maintaining high end software versions, implementing new derivative systems etc since it’s inception, but when it comes to it’s internet banking operations they do struggle with some configurative aspects. For eg: debiting money isn’t time consuming, but crediting money still holds good time to get it processed.

As per your requirement about User Experience in Investment Banking, AXIS Bank has an edge over other private sector banks because the bank has wide operations in middle east countries like Dubai, Abu Dhabi, others (Shanghai, Singapore, Hong Kong, Colombo) which extensively focus on trade finance & investment banking. The Ping pay unvieled multi-social payment solution using smart phones possess high end of personalisation. The information system provides ability to structure derivative products in real time & provide a single view of entire transaction to customers.

SBI too is no less than any private banking sector, in terms of services & security as well, they provide 3D security, virtual keyboard options etc.

HDFC is transforming into full scale digital bank wherein it’s trying to attain capability to render same banking experience even through online channels as in face-to-face. It’s building a system whereby it’s more made as a self-service bank (virtual bank) trying to implement similar strategies of Wells Fargo (U.S. based largest bank). The basic infrastructure is ready but they still need to fine-tune their system.

Above all this, the day IOT (Internet of Things) enhances, internet banking operations (any other internet operations) get enhanced. This is triggered when they could build a single page application & minimal / no navigation required i.e., ONE app on any device, say it a desktop, mobile or tab – iOS,a Android or Windows. But this is a long way to go – but our very next future.

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