DCB Bank - Cashback

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Deal Subedar
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Has anyone received the cashback for Q1 2021 for their DCB bank saving accounts yet?

I have not received, Last time it was posted around 12th Jan. Thanks.

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What was minimum that needed to be maintained for that 0.50% cashback

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i got 808 cashback at the start of the month, whereas i spent more than 4 lakh… i didnt maintain any balance until feb, then maintained above 2 lakhs after that. i waseven charged 550 when i credited some money initially

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karthi4052752 wrote:

i got 808 cashback at the start of the month, whereas i spent more than 4 lakh… i didnt maintain any balance until feb, then maintained above 2 lakhs after that. i waseven charged 550 when i credited some money initially

The credit at beginning of the month would be interest earned on your balances for Q1.

Non-maintainance charges are applicable for quaterly balances. If you maintained 2L balance starting March, it will be min 66k+ (2L/3) for Q1 which is way above the required 25k.
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indiansoul wrote:

The credit at beginning of the month would be interest earned on your balances for Q1.

Non-maintainance charges are applicable for quaterly balances. If you maintained 2L balance starting March, it will be min 66k+ (2L/3) for Q1 which is way above the required 25k.

that means, they have not credited cashback yet… flushed

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Not recd yet.

Normal date for credit has slowly shifted from first 2 days of month to nearly mid of the month.

Anyways no worries. Sabka ek saath hi aayega.
We just need to worry abt maintaining 50k+ balance and doing upto 4L txns per month.

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rpal wrote:

Not recd yet.

Normal date for credit has slowly shifted from first 2 days of month to nearly mid of the month.

Anyways no worries. Sabka ek saath hi aayega.
We just need to worry abt maintaining 50k+ balance and doing upto 4L txns per month.

Yeah .. maintaining 50k is a worry for many including me ..

Any other good alternative for payments of HDFC credit card ??

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indiansoul wrote:

Yeah .. maintaining 50k is a worry for many including me ..

Any other good alternative for payments of HDFC credit card ??

Earlier days when Min Bal was 25k and cb rate was 1.6%, I know of ppl who opened more than 1 account. Afterwards, things changed, but 1-2 of those ppl I know still maintain multiple accounts. Difficult, but they manage and find it rwding.

Other debit cards with rwd pts can be explored. Most give in the range of 0.125% (assuming coral debit card with 0.5% has too many right type of places excluded)!!
For upto 1L overall cap per month per user, sbi dc too gives 0.25% odd!!

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nimod wrote:

Not a dcb user.

Yup, we too missed it for many years may be. Its not a bank everyone has heard of.
Surprising, it was still a loot in hindsight:)
But never mind.

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rpal wrote:

Yup, we too missed it for many years may be. Its not a bank everyone has heard of.
Surprising, it was still a loot in hindsight:)
But never mind.

Not a dcb user & despite knowing was never interested in this “loot” as it basically means rotating money which I think is alright to do once in a while but certainly not as a regular credit card job holder. Focus on getting a good job & good work life balance, all these things are best suited for college students(one here actually rotated almost 2.25 Cr in a year & got income tax dept notice) & currently jobless people(someone here recently was using iMudra wallet for “extra income” because of no job) with too much free time at hand.

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guest_999 wrote:

Not a dcb user & despite knowing was never interested in this “loot” as it basically means rotating money which I think is alright to do once in a while but certainly not as a regular credit card job holder. Focus on getting a good job & good work life balance, all these things are best suited for college students(one here actually rotated almost 2.25 Cr in a year & got income tax dept notice) & currently jobless people(someone here recently was using iMudra wallet for “extra income” because of no job) with too much free time at hand.

It was 1.6% cashback for paying using debit card including credit card payment.

Ofcourse, there were people who misused it but It was a pretty good option for most of us genuine users to get cask back on cc bill payments.

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rpal wrote:

Earlier days when Min Bal was 25k and cb rate was 1.6%, I know of ppl who opened more than 1 account. Afterwards, things changed, but 1-2 of those ppl I know still maintain multiple accounts. Difficult, but they manage and find it rwding.

Other debit cards with rwd pts can be explored. Most give in the range of 0.125% (assuming coral debit card with 0.5% has too many right type of places excluded)!!
For upto 1L overall cap per month, sbi dc too gives 0.25% odd per user!!

Looks like DCB is still the best option compared to others ..

Kg bro ..

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indiansoul wrote:

Looks like DCB is still the best option compared to others ..

Kg bro ..

Yes it is. Simple cost-benefit analysis will tell it (if one can clear the cut off criteria like MAB, Spends).

Have one dcb account, keep min bal, spend wisely & strategically (like pay 1L+ bill on cred) like upto 3.3L per month (cap sufficient for most ppl), get that 6k qtrly cb. And peace.
Enjoy it while it lasts. And move on to other doable profitable deals:)

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guest_999 wrote:

Not a dcb user & despite knowing was never interested in this “loot” as it basically means rotating money which I think is alright to do once in a while but certainly not as a regular credit card job holder. Focus on getting a good job & good work life balance, all these things are best suited for college students(one here actually rotated almost 2.25 Cr in a year & got income tax dept notice) & currently jobless people(someone here recently was using iMudra wallet for “extra income” because of no job) with too much free time at hand.

@kirandr221996 toh badnaam ho gaya.
T : @kirandr221996 you are very famous.

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guest_999 wrote:

Not a dcb user & despite knowing was never interested in this “loot” as it basically means rotating money which I think is alright to do once in a while but certainly not as a regular credit card job holder. Focus on getting a good job & good work life balance, all these things are best suited for college students(one here actually rotated almost 2.25 Cr in a year & got income tax dept notice) & currently jobless people(someone here recently was using iMudra wallet for “extra income” because of no job) with too much free time at hand.

Your feelings and approach i agree. But it can be different on the ground still based on how one manages and balances it. Beyond the limits once can manage and doing things in unbalanced manner or getting into risks beyond one’s appetite or ability to handle…yes that will do more harm than good, i agree.

Specific points/my views or conclusions:
1) Using dcb was highly beneficial (during promotional stage). Despite devaluation, it still is (subject to if one can manage eligibility and spends). Actually, others do not come even close afaik. No doubt abt it.
2) Yes, ppl doing like 4L type have to be doing some kind of rotation. And yes, it will tk time investment also. But this being a DEBIT card, rotation should not be a concern from IT dept perspective afaik.
3) Some ppl like it. Some ppl have got skills, resources and time (esp. jobless may be). Others do not have all these. They rather prefer to do other useful things or hobbies. So each to his own.
4) Rotating 2 cr type with income <10L = IT notice sure should be expected. In my view, correct way to handle is to still spend 2cr, but pay corresponding tax and declare it openly in annual IT return. If somebody has a better suggestion, will be happy to hear it.
5) All these things require resources (e.g. credit cards higher end and high limit wale), money, expertise…. I guess ppl with job experience of more than 10yrs are better placed than college students to do all this in serious way!! From what I see in whatsapp groups, Business ppl and even salaried ppl looking for easy extra money are mostly doing this. And do this on routine basis, almost like an addiction. Of course, college students too do it a lot, but its still to reach the same serious scale i would guess..

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rpal wrote:

Your feelings and approach i agree. But it can be different on the ground still based on how one manages and balances it. Beyond the limits once can manage and doing things in unbalanced manner or getting into risks beyond one’s appetite or ability to handle…yes that will do more harm than good, i agree.

Specific points/my views or conclusions:
1) Using dcb was highly beneficial (during promotional stage). Despite devaluation, it still is (subject to if one can manage eligibility and spends). Actually, others do not come even close afaik. No doubt abt it.
2) Yes, ppl doing like 4L type have to be doing some kind of rotation. And yes, it will tk time investment also. But this being a DEBIT card, rotation should not be a concern from IT dept perspective afaik.
3) Some ppl like it. Some ppl have got skills, resources and time (esp. jobless may be). Others do not have all these. They rather prefer to do other useful things or hobbies. So each to his own.
4) Rotating 2 cr type with income <10L = IT notice sure should be expected. In my view, correct way to handle is to still spend 2cr, but pay corresponding tax and declare it openly in annual IT return. If somebody has a better suggestion, will be happy to hear it.
5) All these things require resources (e.g. credit cards higher end and high limit wale), money, expertise…. I guess ppl with job experience of more than 10yrs are better placed than college students to do all this in serious way!! From what I see in whatsapp groups, Business ppl and even salaried ppl looking for easy extra money are mostly doing this. And do this on routine basis, almost like an addiction. Of course, college students too do it a lot, but its still to reach the same serious scale i would guess..

2. Even for credit card as long as money rotated is white, it is no issue but the thing is the time(& your peace of mind) going to be spent on replying to the income tax dept notice.

3. Rotating 2 Cr means somewhere you are misusing merchant accounts & for total turnover above 30 lakhs in a year it is must to file GST return irrespective of even if there is no actual selling. People here get chills filing ITR3 so you can imagine what the situation would be for filing GST return which is at least 4 times more complex than ITR3.

5. Any business ppl & salaried ppl looking for easy money via this way are exactly the kind of people responsible for running businesses into ground or those tea drinking 1 hour working psu employees you have often heard about. Some of my friends are salaried ppl with good salary but most importantly sincere in their job & they never bothered with such ways even when I told them ppl making thousands per month from this.

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rpal wrote:

Earlier days when Min Bal was 25k and cb rate was 1.6%, I know of ppl who opened more than 1 account. Afterwards, things changed, but 1-2 of those ppl I know still maintain multiple accounts. Difficult, but they manage and find it rwding.

Other debit cards with rwd pts can be explored. Most give in the range of 0.125% (assuming coral debit card with 0.5% has too many right type of places excluded)!!
For upto 1L overall cap per month per user, sbi dc too gives 0.25% odd!!

@TEMPER is also famous.

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guest_999 wrote:

2. Even for credit card as long as money rotated is white, it is no issue but the thing is the time(& your peace of mind) going to be spent on replying to the income tax dept notice.

3. Rotating 2 Cr means somewhere you are misusing merchant accounts & for total turnover above 30 lakhs in a year it is must to file GST return irrespective of even if there is no actual selling. People here get chills filing ITR3 so you can imagine what the situation would be for filing GST return which is at least 4 times more complex than ITR3.

5. Any business ppl & salaried ppl looking for easy money via this way are exactly the kind of people responsible for running businesses into ground or those tea drinking 1 hour working psu employees you have often heard about. Some of my friends are salaried ppl with good salary but most importantly sincere in their job & they never bothered with such ways even when I told them ppl making thousands per month from this.

2) True. So effort should be stretch but still do within limits. Objective is avoid such a notice in the first place (E.g. Pay tax, File returns properly). rest is backup plan.

3) True. So 2cr cud be more of an exception for the pro ppl. keeping rotation within the psychological 1cr could be better for most ppl even with stretch.

Rotating = By normal customers with cards. May not / Mostly not having merchant accounts.

Taxation = yes it is complicated stuff. Ppl spending multiple times over their income or earning too much will probably need to get it in place as per regulation/tax laws i agree. But ppl spending/rotating less than 50L may still manage w/o it i guess assuming income is also high (E.g. ppl having hdfc infinia/dcb type cards typically hv decent income).

5) Debatable issue. All kinds of ppl there mixed up in this. I hv also come to observe ppl who are earning decent/high (infinia type holders), but still rotating, trying hard for deals from cards etc…Btw, they earning good salary (25L+), doing well enough on job front to get promotions etc, actually all this in some cases can have a positive rub off effect on their learning reservoir beyond their usual domain due to the useful and practical nature of such stuff…

Btw, even i hv come across ppl who do not bother (liek if i tell them dcb benefits or even dcb black benefits, they won’t bother)…Everyone has beliefs, biases and priorities… Not sure what point it would prove. My take…we too need not bother. To each his own. Many times ppl, being dynamic over time’ realize in hindsight and they tend to do course correction. Point is they should be largely on the right side at any point of time and should be at PEACE with themselves abt all this!!

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guest_999 wrote:

2. Even for credit card as long as money rotated is white, it is no issue but the thing is the time(& your peace of mind) going to be spent on replying to the income tax dept notice.

3. Rotating 2 Cr means somewhere you are misusing merchant accounts & for total turnover above 30 lakhs in a year it is must to file GST return irrespective of even if there is no actual selling. People here get chills filing ITR3 so you can imagine what the situation would be for filing GST return which is at least 4 times more complex than ITR3.

5. Any business ppl & salaried ppl looking for easy money via this way are exactly the kind of people responsible for running businesses into ground or those tea drinking 1 hour working psu employees you have often heard about. Some of my friends are salaried ppl with good salary but most importantly sincere in their job & they never bothered with such ways even when I told them ppl making thousands per month from this.

https://cdn0.desidime.com/attachments/photos/677977/original/7541765u-https-tse1-mm-bing-net-th-id-OIP.jpg?1618331916

CC : @rpal

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rpal wrote:

2) True. So effort should be stretch but still do within limits. Objective is avoid such a notice in the first place (E.g. Pay tax, File returns properly). rest is backup plan.

3) True. So 2cr cud be more of an exception for the pro ppl. keeping rotation within the psychological 1cr could be better for most ppl even with stretch.

Rotating = By normal customers with cards. May not / Mostly not having merchant accounts.

Taxation = yes it is complicated stuff. Ppl spending multiple times over their income or earning too much will probably need to get it in place as per regulation/tax laws i agree. But ppl spending/rotating less than 50L may still manage w/o it i guess assuming income is also high (E.g. ppl having hdfc infinia/dcb type cards typically hv decent income).

5) Debatable issue. All kinds of ppl there mixed up in this. I hv also come to observe ppl who are earning decent/high (infinia type holders), but still rotating, trying hard for deals from cards etc…Btw, they earning good salary (25L+), doing well enough on job front to get promotions etc, actually all this in some cases can have a positive rub off effect on their learning reservoir beyond their usual domain due to the useful and practical nature of such stuff…

Btw, even i hv come across ppl who do not bother (liek if i tell them dcb benefits or even dcb black benefits, they won’t bother)…Everyone has beliefs, biases and priorities… Not sure what point it would prove. My take…we too need not bother. To each his own. Many times ppl, being dynamic over time’ realize in hindsight and they tend to do course correction. Point is they should be largely on the right side at any point of time and should be at PEACE with themselves abt all this!!

I know a genuine Infinia user here who genuinely earn 1 lakh reward points on his card & he only told me person with 2 lakh infinia reward point getting his points cancelled & another with 10 lakh reward points getting his infinia card itself cancelled by HDFC. You may see many such cancellations in coming months.

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guest_999 wrote:

I know a genuine Infinia user here who genuinely earn 1 lakh reward points on his card & he only told me person with 2 lakh infinia reward point getting his points cancelled & another with 10 lakh reward points getting his infinia card itself cancelled by HDFC. You may see many such cancellations in coming months.

Yup. These things by users were happening for long time, These reactions by bank teams are happening now. I guess either change in decision makers, or change in their approach and mindset or pressure on performance or orders from somewhere to handle it now decisively:)

Az Pay, HDFC, Sbi etc… They are also learning probably from the data, they are in the business of risk mgmt, May hv taken a serious view after having discovered few cases of heavy misuse/exploitation where opportunities were in the open (e.g. nps, hdfc diners/infinia via smartbuy, sbi sclick 2.5% on az, incl gvs, icici az pay, incl. gvs).

Only difference now is the nature of view and steps taken to curb by the decision makers.

Net net, its serious. And its risky. Calls for risk awareness & mitigation steps by customers and being extra safe (e.g. do nps with non-hdfc, redeem rwd pts fast)!!

Missing