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IDFC First Debit Card going to impose DC charges from 1st July

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Deal Subedar
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IDFC First customer care (and my RM) said that all IDFC First life time free Debit Card going to be chargeable from 1st July. 

So get ready to pay annual charges for DC.

They said that after mid-June they will officially announce it.

It has been already announced on their website:

https://www.idfcfirstbank.com/personal-banking/...

https://cdn0.desidime.com/attachments/photos/769408/medium/image.png?1653217986

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Deal Lieutenant Deal Lieutenant
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dosto as per time wasted with customer care

- debit card charges will be charged in advance on 30th june itself or in phases in coming weeks in batches

- no debit card will be free no matter what the balance is

- if account is closed then fd can remain open but it will depend upon branch. they will not let it open 100% i know it

- upi cannot be used if debit card is closed.moreover it is mandatory to take debit card


customer care person mentioned that charges are in hands of management. he said to mail management our suggestions and he gave this mail id

[email protected]

someone write a typed mail here so that we can all enter our name and account number and forward it to them.

one more thing they said that slowly credit card will be made chargeable too as per market conditions

@getready @abhishek012 @ZNZ @raman12 @caks2006407 @kool @kartikxxx @bohemian @IamRage @Dealo @bikidas2060 @RockChap @rockingneo @pranavcool @malikcool @Tejaa @xxxyyyzzz

Deal Newbie Deal Newbie
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beastboy wrote:

This Can’t happen in any situation in India
https://www.rbi.org.in/Scripts/NotificationUser...


c. The banks /NBFCs should not levy any charge that was not explicitly indicated to the credit card holder at the time of issue of the card and getting his / her consent. However, this would not be applicable to charges like service taxes, etc. which may subsequently be levied by the Government or any other statutory authority.

For benefit of users.

https://cdn0.desidime.com/attachments/photos/771270/medium/Screenshot_2022-05-29_212442.jpg?1653842610



I emailed IDFC as follows.



-— Forwarded message -To: Head Customer Service-IDFC FIRST Bank <[email protected]>; [email protected] <[email protected]>; [email protected] <[email protected]>
Sent: Sunday, 29 May, 2022, 09:35:23 pm IST
Subject: Re: Alert! Update on your IDFC FIRST Bank Savings Account.
Dear All,

My account with IDFC First was opened few years back with MAB of Rs.25,000/- and Visa Signature Debit Card. My decision to open an IDFC First account was motivated then by your marketing which promoted the Visa Signature Debit Card issued then, as lifetime free.

As per my understanding of Indian regulations, a company can not, mid-way, charge for a product that was promoted as lifetime free. It may choose to however remove certain features of the product but can not charge for the product. It may also charge new customers of the product but not existing customers of the product who were sold the product as lifetime free.

Yet strangely, that is what is being done now! Is this how you stand by your motto – “Integrity, Trust, Transparency are the three principles that define your banking experience with us?” I do not think you are following them at all if that is what you promised then and are now not following! These do not seem to be in line with Fair Practices Code either.

If I am not mistaken, under Indian regulations, this qualifies as mis-selling! Just so that I am not misinterpreting the email below, I ask once again if existing Visa Signature Debit Card holders will be charged for annual fee? If the answer is YES, then what you are doing fully amounts to MIS-SELLING and is not permissible under law. That apart, if the answer is YES, then I would like to immediately close my Visa Signature Debit Card without closing my existing IDFC First Savings account. Further, I would like to downgrade the existing Savings account with MAB of Rs.25,000/- to a lower version of Savings account with MAB of Rs.10,000/-. I am copying my family also  as they also would like to mirror my actions basis your response.

I also hereby formally request you to share this email with your CEO Mr.Vaidyanathan. It would also be greatly appreciated if a Senior Vice President can take some time and call me on this matter to clarify, if I am mistaken.

Sadly, I am still an equity holder of IDFC First Bank and while I support anything that makes the bank more profitable, yet I do not agree with this latest change that is contradictory to the original marketing of the product as lifetime free. This decision by the bank is an absolutely bad decision and social media is furious with it.

Thanks for your support.

Regards,

Deal Cadet Deal Cadet
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Time to say goodbye to idfc . Seems their greed has reached a new level they are bringing new charges and changes every month now.

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Deal Lieutenant Deal Lieutenant
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https://cdn0.desidime.com/attachments/photos/770296/medium/Screenshot_20220525-203239_Gmail.jpg?1653491011Just got this in email


Deal Cadet Deal Cadet
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xxxyyyzzz wrote:


https://cdn0.desidime.com/attachments/photos/770296/medium/Screenshot_20220525-203239_Gmail.jpg?1653491011Just got this in email


T&C apply

Deal Subedar Deal Subedar
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Anil10 wrote:

BMS 250 rs also stopped and then these charges, now is there any benefit of IDFC, thinking of closing this.

Yeah… BMS offer was the main reason I was keeping it. Now only benefit is lounge  access ( rupay platinum  card will offer tat) & any atm withdrawal without any charges. 


Deal Lieutenant Deal Lieutenant
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kool wrote:

I have also opened FD of Rs. 1  Lakh linked to the saving account. Can I close only saving account?

yes

Deal Lieutenant Deal Lieutenant
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xxxyyyzzz wrote:

How to downgrade to 10k mab account?
Currently i have 25k mab account.

And what if i want to keep visa Signature card…

tell them to downgrade it, they are taking request online only in some pincodes.

why do u want to keep visa signature card? when account is downgraded to 10k account then open card section signature card will be blocked and classic will be issued. block the classic one and click on reissue on signature, you will get a new signature card.here everyone is using signature card with 10k account + @getready

Deal Lieutenant Deal Lieutenant
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kool wrote:

I have also opened FD of Rs. 1  Lakh linked to the saving account. Can I close only saving account?

you can but they will force u to keep the account open.kitna byaj de rha ha ye bank?

Deal Subedar Deal Subedar
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kukdookoo wrote:

you can but they will force u to keep the account open.kitna byaj de rha ha ye bank?

1 year ago it was 6% for 3 years lockin period

Deal Subedar Deal Subedar
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kukdookoo wrote:

tell them to downgrade it, they are taking request online only in some pincodes.

why do u want to keep visa signature card? when account is downgraded to 10k account then open card section signature card will be blocked and classic will be issued. block the classic one and click on reissue on signature, you will get a new signature card.here everyone is using signature card with 10k account + @getready

- what is the benefit of a signature card? Till now I only used for bookmyshows tickets. 


— and if I downgrade to 10k account, what will be charges for signature of classic CARD annually ?

— do they have rupay card with lowest amc

Deal Lieutenant Deal Lieutenant
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kool wrote:

- what is the benefit of a signature card? Till now I only used for bookmyshows tickets. 


— and if I downgrade to 10k account, what will be charges for signature of classic CARD annually ?

— do they have rupay card with lowest amc

Only signature and classic
Bms offer is over i think.signature card looks better than classic card

Deal Subedar Deal Subedar
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kukdookoo wrote:

Only signature and classic
Bms offer is over i think.signature card looks better than classic card

Only looks 🤣

Deal Baba Deal Baba
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kukdookoo wrote:

Russia looks better than nepal
Aur paji looks ka majak bna rahe ha @xxxyyyzzz @Tanmayyy @kartikxxx @decideaim

Nothing looks better than anything.
Nazariya hai bas apna apna,varna toh sab he khubsurat hai.
Jisseaap keh rhe ho vo khubsurti nhi lust hai paaji

Deal Lieutenant Deal Lieutenant
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kartikxxx wrote:

Nothing looks better than anything.
Nazariya hai bas apna apna,varna toh sab he khubsurat hai.

Aapki baat bilkul theek dost.outer looks nahi bas dil saaf hona chahiye.maine pichli post me bhi likha ki paji looks ka majak bna rahe ha
Par is baat jo duniya nahi maanti.ajkal rate is 15k :sad: matlab theek thak mobile bhi kam se kam 15k ka aata ajkal with normal cpu ram etc.

Deal Subedar Deal Subedar
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Got the mail for annual charges of visa signature card from 30th June. It’s 499/annum

Deal Subedar Deal Subedar
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abhishek012 wrote:

Nice move by IDFC bank, VU 👍🏼

But charges are too less, it should be minimum Rs300 to Rs500.

Abhishek bro sun li apki, it’s Rs 500 joy

Mobile Guru Mobile Guru
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Dealo wrote:

Got the mail for annual charges of visa signature card from 30th June. It’s 499/annum

Existing users – Free

New users – 199/499 depending on account type

https://cdn0.desidime.com/attachments/photos/771002/medium/dc_charges.jpg?1653736198


Debit card fees| IDFC FIRST Bank

Mobile Guru Mobile Guru
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Dealo wrote:

I am existing users from last 3 years , why i got the mail for annual charges? 🧐 scream scream

Ignore it, they might’ve sent emails to every account holder

Edit: Its not free for existing users, they just mentioned existing charges 😔 Chargeable (199/499) for all from June 30

Deal Subedar Deal Subedar
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getready wrote:

Ignore it, they might’ve sent emails to every account holder

Don’t know it’s starting as Dear Customer,

And then specifically saying your visa Signature debit card will be charged..https://cdn0.desidime.com/attachments/photos/771003/medium/IMG_20220528_164315.jpg?1653736555

Deal Lieutenant Deal Lieutenant
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getready wrote:

Ignore it, they might’ve sent emails to every account holder

Its for all 499 from 30 th june. The image you shared means that existing charges are nil that will be revised fro 30th unamused

Deal Cadet Deal Cadet
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getready wrote:

Existing users – Free

New users – 199/499 depending on account type

https://cdn0.desidime.com/attachments/photos/771002/original/dc_charges.jpg?1653736198


Debit card fees| IDFC FIRST Bank

it means Existing debit charges are free and from 30th June onwards it will be 499+GST irrespective of account opening time
that table is just a comparison of as of Now state vs w.ef.30th June 2022
@Dealo

Perfectionist Perfectionist
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getready wrote:

Ignore it, they might’ve sent emails to every account holder

Edit: Its not free for existing users, they just mentioned existing charges 😔 Chargeable for all accounts from June 30

Any idea if free for select/wealth programs

Hunk Hunk
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Dealo wrote:

Don’t know it’s starting as Dear Customer,

And then specifically saying your visa Signature debit card will be charged..https://cdn0.desidime.com/attachments/photos/771003/medium/IMG_20220528_164315.jpg?1653736555

499 buhahaha. Credit card kyun naa len woh bhi LTF wali??? Yes, UPI kaam ni karegi naa. 25k MAB n now 499 +GST fee. Sone pe suhaga offer

Pro Blogger Pro Blogger
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Dealo wrote:

Abhishek bro sun li apki, it’s Rs 500 joy

https://cdn0.desidime.com/attachments/photos/771006/medium/sacred-games-dialogues-that-are-powerful-and-relatable-7.jpg?1653736784

Mobile Guru Mobile Guru
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avgn wrote:

Any idea if free for select/wealth programs

Guess they’re free for now + Niyo converted accounts too (No MABVISA Platinum*)

Deal Subedar Deal Subedar
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bikidas2060 wrote:

499 buhahaha. Credit card kyun naa len woh bhi LTF wali??? Yes, UPI kaam ni karegi naa. 25k MAB n now 499 +GST fee. Sone pe suhaga offer

Exactly, how to close this account online. I can’t go to my home branch cry

Deal Cadet Deal Cadet
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I dont see any benefits worth 499+GST for this card, is there any option to close the card and just keep the account active ?

Perfectionist Perfectionist
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Bring back bms offer now !!

Budding Star Budding Star
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avgn wrote:

Bring back bms offer now !!

In case they bring it back then it’s worth it

Pro Shopping Friend Pro Shopping Friend
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email also received

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