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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 Subedar Deal Subedar
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IDFC Customer Support Called Me And Informed There Are No Charges On Debit Card For Existing Account Holders

Cool Cool
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VicksJ wrote:

got a call from RM, the decision is revoked and existing customers will not be charged, the notification is removed from website as well

Oh yes. It has been removed from website as well

Deal Newbie Deal Newbie
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skylark wrote:

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,

Looks like this and other emails, posts from customers really helped. The IDFC guys were hell bent on charging even existing customers initially. The response was quite scripted asking to close card if I wanted but after few more reminders asking escalation to VP and copying RBI + Ministry of Consumer Affairs, stating that is violation of current regulations, they seem to have huddled up internally, discussed and came back positively. I was called thrice today with the same message to effect that they are very sorry for inconvenience and that existing users won’t be charged. When I asked why it was not mentioned in the original communication, they said that they did not factor the miss of certain rules and now, they have revised. No way they could have missed and released original communication. They hoped that customers will accede and that did not happen… thank God! It shows a lot of audacity and attitude to roadroll their promises for lifetime free card! This incident was very much necessary to set things right!

Super Stud Super Stud
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@kukdookoo got written confirmation as well.

Deal Subedar Deal Subedar
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i wrote an email to vaidyanathan that i am going to close the account. 

today someone called from Mumbai and confirmed i will be spared. 

later in evening, someone from Delhi called me claiming to be some senior officer. 


i am sure idfc customers have responded aggressively and the bank have learnt they are not dealing with commoners. 



Deal Cadet Deal Cadet
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ZNZ wrote:

@kukdookoo got written confirmation as well.

please share the confirmation here, so we can use it to if they mess up in future

Deal Cadet Deal Cadet
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VicksJ wrote:

got a call from RM, the decision is revoked and existing customers will not be charged, the notification is removed from website as well

what about validity of the current card is expired?.Will they start charging annual fee for the new card?

Super Stud Super Stud
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noobDealer wrote:

please share the confirmation here, so we can use it to if they mess up in future

here

Deal Lieutenant Deal Lieutenant
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Got mail a gayi akal lagta
Dosto aj to party honi chahiye
Let us all mail to chowkidaar also for 15 lakh

Deal Subedar Deal Subedar
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kukdookoo wrote:

Got mail a gayi akal lagta
Dosto aj to party honi chahiye
Let us all mail to chowkidaar also for 15 lakh

Sirf naam chowkidar hai.

halke mei matt lena… Bulldoze kar dega.


Deal Subedar Deal Subedar
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ZNZ wrote:

here

This is not official confirmation.

Same social media rep sent me this email as well after calling me.

He said official announcement will come from bank soon.

Deal Subedar Deal Subedar
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kukdookoo wrote:

Got mail a gayi akal lagta
Dosto aj to party honi chahiye
Let us all mail to chowkidaar also for 15 lakh

chowkidaar ne 15 lakh dega bola tha? 

Link please, mujhe bhi dekhna hai.

Deal Lieutenant Deal Lieutenant
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neo_t wrote:

chowkidaar ne 15 lakh dega bola tha? 

Link please, mujhe bhi dekhna hai.

Deal Lieutenant Deal Lieutenant
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nimod wrote:

Sirf naam chowkidar hai.

halke mei matt lena… Bulldoze kar dega.




Wah nimod g wah

Deal Lieutenant Deal Lieutenant
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nimod wrote:

Sirf naam chowkidar hai.

halke mei matt lena… Bulldoze kar dega.


Sach 1 baat bhool geya btana, vo bulldozer chla dega to apka bhai Iskander chla dega

Deal Subedar Deal Subedar
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kukdookoo wrote:



Wah nimod g wah

“Agar hum chor lootero ke paise wapas le aaye, toh itna paisa hai ki ek ek aadmi ko 15-20 lakh yuh hi mil jaaye.”


I understand if hindi is not your first language.


So again , i ask, where was 15 lakhs “promised”?

Waise mujhe kya, mere paas aloo to sona machine hai

Deal Lieutenant Deal Lieutenant
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neo_t wrote:

“Agar hum chor lootero ke paise wapas le aaye, toh itna paisa hai ki ek ek aadmi ko 15-20 lakh yuh hi mil jaaye.”


I understand if hindi is not your first language.


So again , i ask, where was 15 lakhs “promised”?

Waise mujhe kya, mere paas aloo to sona machine hai

acha matlab apka jumla tha



par vaise pardhan mantri scheme ka paisa account me ata ha

What happened to the promises of development, no corruption, security etc?

Deal Subedar Deal Subedar
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kukdookoo wrote:

acha matlab apka jumla tha



par vaise pardhan mantri scheme ka paisa account me ata ha

What happened to the promises of development, no corruption, security etc?




What happened to the promises of development, no corruption, security etc?





Politician hai, politicians lie.

Deal Lieutenant Deal Lieutenant
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neo_t wrote:




What happened to the promises of development, no corruption, security etc?





Politician hai, politicians lie.

Politician hai, politicians lie.


if we dont keep on reminding them this they will never change though “we” are very less in number

Deal Cadet Deal Cadet
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received official email update

Debit Cards: For our existing customers of the Bank, we continue to offer Zero Joining and Annual Fees on your Debit Card!

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