DCB Elite savings account MAB now requires 50k for cashback

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Deal Cadet
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https://cdn0.desidime.com/attachments/photos/634315/medium/Screenshot_20200831-162635__01.jpg?1598871581
Got this message just now.
So Dimers, is it good to continue relationship with the bank or to close the account?
Suggestions please…

For people who are looking out to close the account -

There’s no choice of closing account online.
Have to visit the branch at any cost to close.
Fill the closure form and wait for 3-5 working days for account closure.

Also dimers, a request from my side.
If possible please contact their customer care over mail – [email protected] dot com /phone – 18002095363 and give them the feedback that we are closing elite account because of reduced cashback so that they will inform the respective team and we can make them realize that cashback was the key strategy for customer retention which makes them think to increase cashback rates in future.

Thanks a ton to DCB for providing an unmatchable cashback which even some of the premium credit cards failed to give.

33 Comments  |  
19 Dimers
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Same received. Looks it wants everyone to close the accounts that is why coming up with such nonsense Tnc. 50k to earn mere 0.5% cashback. Not worth it. Will be closing the account as soon as my FD ends with it as currently it is giving 7.25 to me.

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I’ll take September’s cashback that is credited in the first week of October and close my account. Thank you DCB..

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Please also update the post with a procedure to close the account, will be much helpful.

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cry cry I am on my way to close the account(s) smile

Tq 2020!

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Just spoke with customer care.
There’s no choice of closing account online.
Have to visit the branch at any cost to close.

Till now I never visited DCB branch, going 1st time to just close the account.
Thanks to DCB for providing an unmatchable cashback which even some of the premium credit cards couldn’t give grinning

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GamesBond wrote:

Just spoke with customer care.
There’s no choice of closing account online.
Have to visit the branch at any cost to close.

Till now I never visited DCB branch, going 1st time to just close the account.
Thanks to DCB for providing an unmatchable cashback which even some of the premium credit cards couldn’t give grinning

I wish they send their agent to collect the closing forms just like they sent for opening

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caks2006407 wrote:
cry cry I am on my way to close the account(s) smile

Tq 2020!

Wait till oct for cashback earned so far in this quarter to be credited

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4 accounts with DCB from 2 yrs came to end now sad

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TEMPER wrote:

4 accounts with DCB from 2 yrs came to end now sad

You were able to use all 4 accounts to maximum every month ??

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indiansoul wrote:

You were able to use all 4 accounts to maximum every month ??

I assume yes he was. That’s why IT department opened his ITR a year or two ago.

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Even now I think it’s still the best debit card available. Keeping 50k in FD for 1 year will give maximum Rs. 3,500 whereas keeping 50k in this account and spend/rotate Rs. 1,25,000/month using it’s debit card (as people were doing beforeAugust 17th) will fetch Rs. 7500 per year as cashback and Rs. 1500 as interest.

Can we get any better deal?

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sardasa wrote:

Even now I think it’s still the best debit card available. Keeping 50k in FD for 1 year will give maximum Rs. 3,500 whereas keeping 50k in this account and spend/rotate Rs. 1,25,000/month using it’s debit card (as people were doing beforeAugust 17th) will fetch Rs. 7500 per year as cashback and Rs. 1500 as interest.

Can we get any better deal?

No, you don’t get a better deal; BUT you do get an IT notice laughing

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BlueFlash wrote:

No, you don’t get a better deal; BUT you do get an IT notice laughing

You could’ve received IT notice even before August 17th as well.
Were not people using it for spending 1.25 lakhs every month?

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sardasa wrote:

Even now I think it’s still the best debit card available. Keeping 50k in FD for 1 year will give maximum Rs. 3,500 whereas keeping 50k in this account and spend/rotate Rs. 1,25,000/month using it’s debit card (as people were doing beforeAugust 17th) will fetch Rs. 7500 per year as cashback and Rs. 1500 as interest.

Can we get any better deal?

With cashback % reduced to 0.5%, we should be able to spend upto 4L to get 2k per month. No need to limit oneself to 1.25L.

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indiansoul wrote:

With cashback % reduced to 0.5%, we should be able to spend upto 4L to get 2k per month. No need to limit oneself to 1.25L.

Spending 4 lakh every month isn’t a cakewalk bro.

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sardasa wrote:

Spending 4 lakh every month isn’t q cakewalk bro.

True.. I was only pointing out that limit 1.25L is not applicable anymore and it’s stretched to 4L.

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Rotating money is legal or illegal.
Some experts highlight.

One gang of people say illegal

Another gang of people say legal if proof available for source of income

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sardasa wrote:

Even now I think it’s still the best debit card available. Keeping 50k in FD for 1 year will give maximum Rs. 3,500 whereas keeping 50k in this account and spend/rotate Rs. 1,25,000/month using it’s debit card (as people were doing beforeAugust 17th) will fetch Rs. 7500 per year as cashback and Rs. 1500 as interest.

Can we get any better deal?

Yes better option available (but it’s secret)

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kirandr221996 wrote:

Rotating money is legal or illegal.
Some experts highlight.

One gang of people say illegal

Another gang of people say legal if proof available for source of income

Nothing is illegal if u saw in IT Return

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bidding adieu to this one. i hardly used this for like 9-10 months

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TEMPER wrote:

4 accounts with DCB from 2 yrs came to end now sad

Here is the Main culprit smiling_imp

DCB should not downgrade this feature for all but only to few like @TEMPER bhai stuck_out_tongue

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