IDFC 25k Account Downgrade.

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Benevolent
akki.akki
I have been holding IDFC 25k MAB savings account. Earlier they use to give BMS voucher every month, which they stopped long ago.

Now i dont want to maintain 25k in it.
  1. Can I convert it to zero bal or 10k ? If yes how (online/branch)
  2. Do I need to surrender my existing platinum DC ? or will it become chargeable ?
Thanks pray pray pray
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Deal Cadet Deal Cadet
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IDFC First Bank is doing really awesome.

Today I went to close my IDFC First Bank account. Not having any concern I need funds so I have closed and used that minimum balance for short in cash.

You know what now for closing accounts with idfcfirst bank also you need not to visit branch. Just a customer care request and OTP authentication boom.

The moment I have given an OTP and a fund transfer account. It was closed and transferred via NEFT

Generous Generous
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You should visit a branch or contact a RM (if you are in touch) and share the concern. They will offer you lower variant account or if you lucky enough, you may be offered 0 MAB too. Try your luck. 

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Deal Cadet Deal Cadet
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IDFC First Bank is doing really awesome.

Today I went to close my IDFC First Bank account. Not having any concern I need funds so I have closed and used that minimum balance for short in cash.

You know what now for closing accounts with idfcfirst bank also you need not to visit branch. Just a customer care request and OTP authentication boom.

The moment I have given an OTP and a fund transfer account. It was closed and transferred via NEFT

Benevolent Benevolent
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Yes. The bank is really good. The support is good. I too closed 10k MAB account in branch and it took just 5 minutes for whole process. I have decided that once I have a regular salary and funds coming in, I will open an account with them again just because of their service.
Deal Cadet Deal Cadet
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Try to call customer care and check with them

Super Stud Super Stud
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Earlier they use to give BMS voucher every month? How I did not knew that.

Helpful Helpful
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They gave 250 cashback everymonth in using their card in bms site for some 1 yr 6 mnths.people used to buy bms 250 Gv for free this way.

Generous Generous
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You should visit a branch or contact a RM (if you are in touch) and share the concern. They will offer you lower variant account or if you lucky enough, you may be offered 0 MAB too. Try your luck. 

Benevolent Benevolent
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I visited the branch and they said only 10k Downgrade is possible that too with chargeable dc.
Generous Generous
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I hold IDFC First Wealth CC and being offered 10k MAB savings account as zero balance account ... should I go ahead and open it?

@akki.akki ... you can ask them to downgrade or even offer you zero balance account just like they're offering others who hold credit card relationship with them


Benevolent Benevolent
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the thing is i dont have any cc as well. smile
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Deal Captain Deal Captain
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I also want to close because it is not adding any value and less accounts, less clutter, have 12 Savings accounts as of today.

BTW @SuperSubrata I also downgraded to 10k but still hold the 25k DC, more than a year and haven't been charged anything, don't know if I'd be charged anytime in future though

Deal Subedar Deal Subedar
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Can we close account and still keep wealth CC ?
Kotak811 giving auto sweep facility above 25K gets converted to 180days 7% fd

whereas in idfc its 3% upto 1L, 4% upto 1-5L and 7% above 5L.
I dont see any other value in idfc platinum (25k) saving account let me if its there and I am missing any new things.

Helpful Helpful
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If CC is not given based on FD, then u can close. U don't need an account to have CC.

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