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/...
I can only see Non-maintenance charges (MAB*), nothing related to Debit card
Edit: Its there (100/- Annual fees) but for VISA Signature variants only (Mine is VISA Platinum) and for those who don’t maintain min MAB*
getready wrote:I can only see Non-maintenance charges (MAB*), nothing related to Debit card
Currently no information avaiable. but they have clearly written on their website:
The charges applicable to your debit card will be revised w.e.f. 1st July 2022.
Yes Sushrut mentioned this in another thread
Par_ wrote:Currently no information avaiable. but they have clearly written on their website:
The charges applicable to your debit card will be revised w.e.f. 1st July 2022.
Looks like its all about 25K MAB
If your balance falls below ₹25,000 we will charge you only to recover the cost when you do the following transactions on your account. These transactions will continue to be free of charge should you maintain a balance of ₹25,000 with us
Edit: These are old changes
getready wrote:Looks like its all about 25K MAB
If your balance falls below ₹25,000 we will charge you only to recover the cost when you do the following transactions on your account. These transactions will continue to be free of charge should you maintain a balance of ₹25,000 with us
Information regarding debit card charges will come in mid-June.
Customer care executive and my RM clearly said that all Life Time DC will be converted to paid. more infromation will come soon on website.
Par_ wrote:Information regarding debit card charges will come in mid-June.
Customer care executive and my RM clearly said that all Life Time DC will be converted to paid. more infromation will come soon on website.
Lets see. Not exactly sure but i think its against RBI rules ( Promoting something to be life-time free and adding charges midway ). They can charge new cards and add more clauses to keep the existing ones free like maintaining certain MAB
Oh no is this true
if they impose charge on 25k or 10k maintain account. Then will close account instantly. Hoping this is untrue
Aisa na karo idfc 😡
getready wrote:Lets see. Not exactly sure but i think its against RBI rules ( Promoting something to be life-time free and adding charges midway ). They can charge new cards and add more clauses to keep the existing ones free like maintaining certain MAB
Doesn’t mention lifetime free . Atleast now anywhere
avgn wrote:Doesn’t mention lifetime free . Atleast now anywhere
Not explicitly but their fees and charges page still state the card is free as long as the MAB is maintained. Charges might get revised (Say 100 > 200 as Annual Fee for those accounts subjected to non-maintenance charges) but charging everyone irrespective of the MAB will invalidate the base claim?
keep us informed is idfc.ki aise ki tasi
How to downgrade to 10k mab account?
Currently i have 25k mab account.
And what if i want to keep visa Signature card…
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…
lets things become clear first then take decision
pranavcool wrote:lets things become clear first then take decision
Things are clear already, account with 25K MAB is pretty much useless
people still using IDFC saving account 😳
getready wrote:Lets see. Not exactly sure but i think its against RBI rules ( Promoting something to be life-time free and adding charges midway ). They can charge new cards and add more clauses to keep the existing ones free like maintaining certain MAB
Probably it could be related to FIRST Select account.
They are giving free Amazon prime for 1yr and asking to move to FIRST Select and in this new variant of account they are giving new cheque book and DC. so here they may be introducing new T&C and removing Life Time free condition.
Any other good bank which give 4% or more on Saving account?
Nice move by IDFC bank, VU 👍🏼
But charges are too less, it should be minimum Rs300 to Rs500.
abhishek012 wrote:Nice move by IDFC bank, VU 👍🏼
But charges are too less, it should be minimum Rs300 to Rs500.
Kahna kya chahte ho Visa ke dushman bhaiya 😡 😁 hum log ki khushi dekhi nahi jaa rahi aapse arey bhai hum log rupay bhi use karte hai aisa shraap na do
drupal wrote:Kahna kya chahte ho Visa ke dushman bhaiya 😡 😁 hum log ki khushi dekhi nahi jaa rahi aapse arey bhai hum log rupay bhi use karte hai aisa shraap na do
You guys should google a word “sarcasm”.
@Chapribaba
abhishek012 wrote:You guys should google a word “sarcasm”.
@Chapribaba
BMS 250 rs also stopped and then these charges, now is there any benefit of IDFC, thinking of closing this.
abhishek012 wrote:Nice move by IDFC bank, VU 👍🏼
But charges are too less, it should be minimum Rs300 to Rs500.
tu ja iha se 😂.
Niyo idfc walo bhi lagega kya ?
I have also opened FD of Rs. 1 Lakh linked to the saving account. Can I close only saving account?
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
For benefit of users.
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,
Time to say goodbye to idfc . Seems their greed has reached a new level they are bringing new charges and changes every month now.