Hot Deal Created IDFC account yesterday what to do next ?

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Deal Cadet
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I have uploaded signature yet no notification about the chequebook and my debit card is still in inactive state and i haven’t received any call for video verification yet can anybody tell how should I proceed so that i could get those vouchers after the activation process.

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I am planning to go for this bank but the 25k MAB is a mess. Can anyone give me the link for the T&C’s in which steps to create this and the voucher details are mentioned?

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sit back and relax…you will soon get a link for VideoKyc Expect call tomorrow(its too late now)
or you can do it via this link https://capture.kyc.idf...m/ (you cant do KYC at this time as I think they do only till 9PM)

Next step is check your message, I have send you my UPI details (do some fund transfer to me so that you get the UPI transfer Voucher) toungueout

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Chai/stta piyo filhaal , wait for dc and account activation uske baad follow instructions as per signature/classic varient to receive vouchers/cb

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Sudarshan61 wrote:

sit back and relax…you will soon get a link for VideoKyc Expect call tomorrow(its too late now)
or you can do it via this link https://capture.kyc.idf...m/ (you cant do KYC at this time as I think they do only till 9PM)

Next step is check your message, I have send you my UPI details (do some fund transfer to me so that you get the UPI transfer Voucher) toungueout

My UPI registration keeps giving error of multiple customer id so I don’t think i could help that way 😛

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GuruGhantaal wrote:

Chai/stta piyo filhaal , wait for dc and account activation uske baad follow instructions as per signature/classic varient to receive vouchers/cb

Par Hum jaise log jo chai sutta nahi peete unka kya bro 🥺🥺https://cdn0.desidime.com/attachments/photos/660547/medium/Er2g1ILUcAAeIyM.jpg?1610984869

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st303 wrote:

My UPI registration keeps giving error of multiple customer id so I don’t think i could help that way 😛

Messaging you bank account details…voucher for fund transfer 😈

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Sudarshan61 wrote:

https://www.idfcfirstbank.com/content/idfcsecur...
This has got the voucher details and conditions

They also have 10K MAB account

Oh it is available for 10k accounts too, some dimer said 25k.
What are the charges for dc in 10k n 25k mab accounts? Any other charges? Check below link.
Do we get a passbook?
Suppose they assign an abcd branch to one’s account, then can we change/transfer account from it later?

@guest_999 Bhai khol liya khata yaha?

https://www.idfcfirstbank.com/content/dam/idfcs...

What is the meaning of Aadhar OTP account? Is any other bank opening account via the same? Why is there a restriction of 1 account via this method?

No clarity about dc charges. Signature one requires 25k MAB and the other one 10k. Any idea about the same?

The signature dc offer purchase protection, point 5, does it work like chargeback in case of credit cards?

How much time does that video call kyc thing takes to complete for the removal of 1 lac limit?

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billubakra wrote:

Oh it is available for 10k accounts too, some dimer said 25k.
What are the charges for dc in 10k n 25k mab accounts? Any other charges? Check below link.
Do we get a passbook?
Suppose they assign an abcd branch to one’s account, then can we change/transfer account from it later?

@guest_999 Bhai khol liya khata yaha?

https://www.idfcfirstbank.com/content/dam/idfcs...

What is the meaning of Aadhar OTP account? Is any other bank opening account via the same? Why is there a restriction of 1 account via this method?

No clarity about dc charges. Signature one requires 25k MAB and the other one 10k. Any idea about the same?

The signature dc offer purchase protection, point 5, does it work like chargeback in case of credit cards?

How much time does that video call kyc thing takes to complete for the removal of 1 lac limit?

10k mab : classic visa dc
25k mab: signature visa dc

Unavoidable charges: SMS charges(probably)

No passbook.

You have to select your Branch during the a/c creation process

Pretty much all the digital banking a/cs are opened using aadhaar. Aadhaar based a/cs are valid for 1yr and have limits placed on max amt that can be held in an a/c AND max cumulative amt that can be credited to the a/c. (page 4)

Those are just VISA variants. See page 2 of that pdf.

Video KYC: still image of your face is taken, followed by that of your PAN card, followed by your signature. That’s it. So, if everything works flawlessly, then it will take under 5mins.

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DimeDime wrote:

10k mab : classic visa dc
25k mab: signature visa dc

Unavoidable charges: SMS charges(probably)

No passbook.

You have to select your Branch during the a/c creation process

Pretty much all the digital banking a/cs are opened using aadhaar. Aadhaar based a/cs are valid for 1yr and have limits placed on max amt that can be held in an a/c AND max cumulative amt that can be credited to the a/c. (page 4)

Those are just VISA variants. See page 2 of that pdf.

Video KYC: still image of your face is taken, followed by that of your PAN card, followed by your signature. That’s it. So, if everything works flawlessly, then it will take under 5mins.

Thanks bro. What are the yearly charges for classic and signature visa card? They offer purchase protection, same as chargeback?

About Aadhar OTP account the page https://www.idfcfirstbank.com/content/dam/idfcs... says that

You may open only one Aadhaar OTP based account with any bank in India. If you have already opened an Aadhaar OTP based account with any other bank, you cannot open another account with IDFC FIRST Bank or any other bank.
Why is there a limit to open only one bank account?
KG+

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billubakra wrote:

Thanks bro. What are the yearly charges for classic and signature visa card? They offer purchase protection, same as chargeback?

About Aadhar OTP account the page https://www.idfcfirstbank.com/content/dam/idfcs... says that

You may open only one Aadhaar OTP based account with any bank in India. If you have already opened an Aadhaar OTP based account with any other bank, you cannot open another account with IDFC FIRST Bank or any other bank.
Why is there a limit to open only one bank account?
KG+

A free Visa debit card with every account valid for life.
That’s repeated everywhere on their website. So, expect it to be free for a while.

They offer purchase protection, same as chargeback?
I am not a big debit card user, so I haven’t paid that much attention to it.
Someone else should chime in on this one. smile
Still I would say, if possible, go for the 25k a/c, get yourself easy 1500 amazon gvs.

a/c Limit:
Don’t worry about it. I have 4 a/cs opened using aadhaar method. None of them, different banks, have complained to me about them. It probably has to do with Govt’s digital/instant bank a/c for everyone scheme or something.

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@ billukara
They offer purchase protection, same as chargeback?

See this:
https://www.idfcfirstbank.com/personal-banking-...
https://www.idfcfirstbank.com/personal-banking-...
https://www.idfcfirstbank.com/content/dam/IDFCF...
--
Purchase Protection(1L max for signature):The card also carries purchase protection for fire/theft/burglary upto 90 days from the date of purchase for transactions carried out at merchant outlets/online using the card.
--

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DimeDime wrote:

@ billukara
They offer purchase protection, same as chargeback?

See this:
https://www.idfcfirstbank.com/personal-banking-...
https://www.idfcfirstbank.com/personal-banking-...
https://www.idfcfirstbank.com/content/dam/IDFCF...
--
Purchase Protection(1L max for signature):The card also carries purchase protection for fire/theft/burglary upto 90 days from the date of purchase for transactions carried out at merchant outlets/online using the card.
--

Thanks bro. No chargeback thing of sorts, just normal protection thing which is as per rbi’s direction
https://www.idfcfirstbank.com/content/dam/IDFCF...

All these banks are very smart, see how conveniently they have changed t&c’s for other type of insurances. 1 POS transaction and all. I wish class action lawsuits were a thing in India.

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Moderator

When you open an account online you need Aadhaar to verify your identity(Most Online Banks) This account opened with Aadhar otp comes with a holding limit of 1 lac + your account will be valid for 1 Year only… Aadhar otp=Min KYC…. Unless you have completed V-Kyc/Full kyc that removes the limits (No more aadhar otp acc)
Cc. @billubakra @DimeDime

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R0417 wrote:

When you open an account online you need Aadhaar to verify your identity(Most Online Banks) This account opened with Aadhar otp comes with a holding limit of 1 lac + your account will be valid for 1 Year only… Aadhar otp=Min KYC…. Unless you have completed V-Kyc/Full kyc that removes the limits (No more aadhar otp acc)
Cc. @billubakra @DimeDime

But why this limit is one account/bank per year as mentioned in those t&c’s?

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billubakra wrote:

But why this limit is one account/bank per year as mentioned in those t&c’s?

Where does it mention per year?
You can open only 1 account with 1 aadhar card in any bank I suppose… Apart from that Why would they give so many vouchers to same person for holding multiple accounts

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R0417 wrote:

Where does it mention per year?
You can open only 1 account with 1 aadhar card in any bank I suppose… Apart from that Why would they give so many vouchers to same person for holding multiple accounts

You may open only one Aadhaar OTP based account with any bank in India. If you have already opened an Aadhaar OTP based account with any other bank, you cannot open another account with IDFC FIRST Bank or any other bank.
Not one account with one aadhar, one account with 1 aadhar based otp.

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billubakra wrote:

@DimeDime
Bro fd interest rate of this bank is 5.75% https://www.idfcfirstbank.com/content/dam/IDFCF... but savings interest rate is 7% which is also compounded quarterly as confirmed by sudarshan bro in one of the threads. Does it really make sense to keep money in savings account as the interest rate is higher?

Ok, here is what I had done.
I “believe” all these 7% rate are costumer acquisition gimmicks and sooner or later all of these will come to an end. Just like it did in IndusInd’s case.(7% to 6.5% for Term deposits)
So, I have tried to capture as much earned-interest as “possible” using FDs in IndusInd at 7.0% for longer terms.

Earlier this month when IDFC declared 7% interest for all amounts in savings bank a/c, I moved all my “liquidated money that I might need” to IDFC.

Open a short term FD in IDFC, get the GV, and be done with TDs in IDFC.

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DimeDime wrote:

Ok, here is what I had done.
I “believe” all these 7% rate are costumer acquisition gimmicks and sooner or later all of these will come to an end. Just like it did in IndusInd’s case.(7% to 6.5% for Term deposits)
So, I have tried to capture as much earned-interest as “possible” using FDs in IndusInd at 7.0% for longer terms.

Earlier this month when IDFC declared 7% interest for all amounts in savings bank a/c, I moved all my “liquidated money that I might need” to IDFC.

Open a short term FD in IDFC, get the GV, and be done with TDs in IDFC.

5.75% is not even beating inflation. Is there a minimum amount fd panga?

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@billubakra depending on city, idfc have 2 options: 10k AB & 25k MAB, in metro/tier-1 cities only 25k MAB option is available. As per rbi guidelines one can operate only 1 bank acc at any time opened using aadhaar otp. If you want to open another acc using aadhaar otp then first convert the earlier aadhar otp based acc to full kyc using biometric/video kyc/document verification. This is done to avoid money laundering(using poor people aadhaar otp to open multiple bank acc with 1 lakh credit each).

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@DimeDime @R0417
Add Beneficiary & do a Fund Transfer (min. amount ₹2,000)>>>> Does this mean neft/rtgs? Can one send this to own account in another bank?
First Bill payment using Mobile app or Net banking (min. amount ₹1,000)>>>> Paid all bills few days back. The offer is till 31st. Which bill categories are covered under this?

@guest_999 badi vaahiyaat condition hai to prevent money laundering. Did you go for this bank?

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billubakra wrote:

@DimeDime @R0417
Add Beneficiary & do a Fund Transfer (min. amount ₹2,000)>>>> Does this mean neft/rtgs? Can one send this to own account in another bank?
First Bill payment using Mobile app or Net banking (min. amount ₹1,000)>>>> Paid all bills few days back. The offer is till 31st. Which bill categories are covered under this?

@guest_999 badi vaahiyaat condition hai to prevent money laundering. Did you go for this bank?

Yes, both of them – neft, rtgs. Yes, did the same.

Very limited options. I paid my Electricity bill.

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@Sudarshan61
Interest is not credited as compound interest. It is simple interest based on the available balance. Hence no compound benefit.

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billubakra wrote:

@Sudarshan61
Interest is not credited as compound interest. It is simple interest based on the available balance. Hence no compound benefit.

Yes ..simple interest is credited..
But if you don’t withdraw it. ?? Then it’s same as compounded quarterly 🤦‍♂️

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Sudarshan61 wrote:

Yes ..simple interest is credited..
But if you don’t withdraw it. ?? Then it’s same as compounded quarterly 🤦‍♂️

Someone told me that they don’t count the interest credited in the next quarter just the principal. Anyways let’s see how it goes. Thanks.

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Is the joining offer still available?

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billubakra wrote:

Someone told me that they don’t count the interest credited in the next quarter just the principal. Anyways let’s see how it goes. Thanks.

Haha……nothing like that…
Once interest gets credited that amount is considered in future interest calculation

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