• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

IDFC First Bank Debit Card Charges from June 30 2022

Update-
IDFC First Bank decided to not to impose debit card annual fees to their existing customers.
But they'll charge their new customers for debit card. if you open IDFC First Bank account before June 30th, 2022 then you'll be considered as existing customer.

Effective from 30th june 2022, IDFC First Bank Visa Signature bebit card will carry an annual fees of 499+gst & Visa Classic 199+GST (Including Salary Accounts).

-7prki5.jpg

This is insane... IDFC Bank going to charge debit card annual fees from 25k maintenance account/salary account holders.
Official notice url- https://www.idfcfirstbank.com/notice-board
 
Last edited:
The New IDFC Netbanking and Mobile Banking Update is worth exploring.
IDFC has no concept of Branch, but I have branch Manager assigned, which is of the branch nearest as per my pin-code.
My Account isn't a Select Banking Program Account, but my RM for First Select.
Many interesting things going on behind the scenes.
1655454282663.png
 
The New IDFC Netbanking and Mobile Banking Update is worth exploring.
IDFC has no concept of Branch, but I have branch Manager assigned, which is of the branch nearest as per my pin-code.
My Account isn't a Select Banking Program Account, but my RM for First Select.
Many interesting things going on behind the scenes.
View attachment 1840
Hey man can you check if they added Aadhar OTP option for communication address change or they still require valid address proof ?
 
Hey man can you check if they added Aadhar OTP option for communication address change or they still require valid address proof ?
Thanks for asking mate... Otherwise I would never know that they have goofed up. My account is linked with Aadhar but they have missed it somewhere for sure during their migration. And I see a " - " against my Aadhar and no option to change my Address
1655455320096.png
 
@raghavx No, I have still not applied/received select Banking program.

My mother got upgraded to Select Banking Program. She received a call from her RM and was informed that she is being upgraded to Select Banking Program.
No specific procedure as such, it is totally upto the Bank.
@hriday.haria I opened 10k MAB account 2 days ago after your recommendation. I love the app. Anyway, I hope I could get a good debit card even without increasing my MAB (though I would have more than 1-2L MAB as it’s my emergency fund account)
 
@hriday.haria I opened 10k MAB account 2 days ago after your recommendation. I love the app. Anyway, I hope I could get a good debit card even without increasing my MAB (though I would have more than 1-2L MAB as it’s my emergency fund account)
Your best bet here could be to maintain 1-2L regularly and push your RM.
It eventually depends on their system currently which is random ( or maybe factor like women quota or 50+ age quota ) which is getting them their accounts upgraded with as less as 10k balance. Looks random to me.

Even I am in the same process of pushing my RM.

Once upgraded to Select/wealth you will receive a premium debit card on Visa Infinite Platform !
 
Your best bet here could be to maintain 1-2L regularly and push your RM.
It eventually depends on their system currently which is random ( or maybe factor like women quota or 50+ age quota ) which is getting them their accounts upgraded with as less as 10k balance. Looks random to me.

Even I am in the same process of pushing my RM.

Once upgraded to Select/wealth you will receive a premium debit card on Visa Infinite Platform !
Opening 25k and getting the card then switching to 10k works fine right ?
 
Opening 25k and getting the card then switching to 10k works fine right ?
In short, Yes it does. Confirmed with my Branch as well as my RM. It is upon us, if we want to convert it they will.

The day I went to enquire they readily agreed to do it, as I went and clearly stated that I am dissatisfied with the debit card charges introduced.

In other cases, branch might try to convice you not to downgrade, but if you insist they will eventually get it done !
 
In short, Yes it does. Confirmed with my Branch as well as my RM. It is upon us, if we want to convert it they will.

The day I went to enquire they readily agreed to do it, as I went and clearly stated that I am dissatisfied with the debit card charges introduced.

In other cases, branch might try to convice you not to downgrade, but if you insist they will eventually get it done !
Did you get a new Classic debit card after switching to 10k or whether the Signature card works fine?
 
Did you get a new Classic debit card after switching to 10k or whether the Signature card works fine?
I ditched the downgrade. The downgrade was planned only to avoid the charges.

But the information I got from branch is, if I do downgrade, I will get a new Classic Debit card, which was the thing I wanted. In the form though, there was an option to choose if you want to keep the existing card
It was something like "Do you have a Debit Card" "if yes, which variant". So I believe branch can mention to keep there to keep the existing card, however they too will avoid it.

Though now I am fighting for an upgrade to Select 😅
 
I ditched the downgrade. The downgrade was planned only to avoid the charges.

But the information I got from branch is, if I do downgrade, I will get a new Classic Debit card, which was the thing I wanted. In the form though, there was an option to choose if you want to keep the existing card
It was something like "Do you have a Debit Card" "if yes, which variant". So I believe branch can mention to keep there to keep the existing card, however they too will avoid it.

Though now I am fighting for an upgrade to Select 😅
@hriday.haria I opened 10k MAB account after your suggestion. Though will use this only as an emergency fund account. Should I be upgrading to 25K mab account? What benefits would it give?
 
Back
Top