DCB Elite savings account MAB now requires 50k for cashback

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Last comment 2020-09-04

GamesBond

Deal Cadet

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826

2020-08-31

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.

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Alexios 2020-08-31

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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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abhi2904 2020-08-31

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Now its not worth

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Vishwa308 2020-08-31

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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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andromeda 2020-08-31

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

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sidmanraj731 2020-08-31

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Should we move from DCB to IndusInd?

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caks2006407 2020-08-31

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

Tq 2020!

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GamesBond 2020-08-31

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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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caks2006407 2020-08-31

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sidmanraj731 wrote:
Should we move from DCB to IndusInd?

Anything for CC payments there?

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andromeda 2020-08-31

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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

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

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indiansoul 2020-08-31

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caks2006407 wrote:
I am on my way to close the account(s)
Tq 2020!

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

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TEMPER 2020-08-31

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

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indiansoul 2020-08-31

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TEMPER wrote:
4 accounts with DCB from 2 yrs came to end now

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

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sardasa 2020-08-31

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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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sardasa 2020-08-31

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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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TEMPER 2020-08-31

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

of course yes..

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BlueFlash 2020-08-31

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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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sardasa 2020-08-31

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

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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indiansoul 2020-08-31

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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 2020-08-31

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TEMPER wrote:
of course yes..

Tussi great ho ..

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sardasa 2020-08-31

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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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indiansoul 2020-08-31

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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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kirandr221996 2020-08-31

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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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kirandr221996 2020-08-31

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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)

2481

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sardasa 2020-08-31

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kirandr221996 wrote:
Yes better option available (but it’s secret)

So why did u even reply here??

https://www.desidime.com/discussions/dcb-mab-now-requires-50k-for-cashback?page=1#post_6896215

hiteshu1 2020-08-31

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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