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IDFC First Bank is Not Following RBI Guidelines
- Thread starter TechnoFino
- Start date
Take them for a ride, bro. This is clearly against framework designed by RBI.
CIBIL reporting should be done only after activation of card. But as they activated without consent and charged joining fee, they reported accordingly. Your experience is a lesson for customers also who will now have to ascertain whether they will be charged JF without activation too or whether card gts activated itself without ssetting PIN.
Since I opened account with IDFC, I have been bugged twice for Credit Card by them but I will never go for it. 6 cards (5 banks) already more than enough. Just keeping 3.25L with IDFC for Select upgrade.
CIBIL reporting should be done only after activation of card. But as they activated without consent and charged joining fee, they reported accordingly. Your experience is a lesson for customers also who will now have to ascertain whether they will be charged JF without activation too or whether card gts activated itself without ssetting PIN.
Since I opened account with IDFC, I have been bugged twice for Credit Card by them but I will never go for it. 6 cards (5 banks) already more than enough. Just keeping 3.25L with IDFC for Select upgrade.
Even GST was wavied off
anisharya16
TF Premier
That's great. For me they only refunded annual fee. GST anyway I had to pay.
Update on 12th September, 2024:
IDFC First Bank called me yesterday evening to explain the situation, and I understand their perspective. However, I still don’t agree with them and believe IDFC First Bank needs to resolve the issue.
Rahul explained that they activate the card based on the "customer's intention to use the card." If a customer opens the IDFC First Bank credit card section and clicks on the newly approved card, they activate it and report it to CIBIL.
However, this process doesn’t align with the guidelines, and Rahul assured me that feedback from myself and others who raised this issue will be discussed with top-level management, and they will work on improving the process. Today, I received an email from IDFC First Bank informing me that they have reversed the joining fee.
Rahul was very humble and even offered me some reward points for highlighting the issue, but I believe solving the problem would be more valuable than receiving free points. I respectfully declined his offer and simply requested that he share my feedback with the management team.
I often highlight issues with banks, but only a few have the courage to acknowledge their mistakes, take customer feedback seriously, and act on it. A few months ago, I thanked IDFC First Bank for this, and I would like to thank them again for listening to their customers. Hopefully, they will resolve the issue soon.
IDFC First Bank called me yesterday evening to explain the situation, and I understand their perspective. However, I still don’t agree with them and believe IDFC First Bank needs to resolve the issue.
Rahul explained that they activate the card based on the "customer's intention to use the card." If a customer opens the IDFC First Bank credit card section and clicks on the newly approved card, they activate it and report it to CIBIL.
However, this process doesn’t align with the guidelines, and Rahul assured me that feedback from myself and others who raised this issue will be discussed with top-level management, and they will work on improving the process. Today, I received an email from IDFC First Bank informing me that they have reversed the joining fee.
Rahul was very humble and even offered me some reward points for highlighting the issue, but I believe solving the problem would be more valuable than receiving free points. I respectfully declined his offer and simply requested that he share my feedback with the management team.
I often highlight issues with banks, but only a few have the courage to acknowledge their mistakes, take customer feedback seriously, and act on it. A few months ago, I thanked IDFC First Bank for this, and I would like to thank them again for listening to their customers. Hopefully, they will resolve the issue soon.
Aniket
TF Legend
How upto 0.93% ?
Anindya98
TF Legend
Update: I raised the card closure request on 7th Sept when I got the Cibil account added notification. Initially, the card fee reversal request will be processed, then the closure request. Was waiting for the update on the 13th I called the CC and asked for an update and requested to arrange a call back from the senior as the agent was unable to provide me with the details. Today I got a call back from the senior team first she bluntly denied that the card is active and closure request couldn't be taken. After hearing this I was furious and mentioned the RBI guidelines after keeping me on hold for 4-5mins she read the PDF which she asked to send to the banker.idfc email. Again she tried to argue with me that I was reading the guidelines wrong and then when I asked her to give everything in writing. Then she asked someone from beside and asked me what I needed I said card closure and removing the entry from Cibil. Instantly while on call card fees were revered with GST and the Closure request was taken within 5 days it will be closed and the Cibil team will update me within 5 days regarding the Cibil entry. Thanks @TechnoFino
I am a Select Account Holder with the bank and maintain a good relationship value. However, the kind of unprofessional behavior and lack of knowledge of CC executives is not expected from IDFC.
Update on 20 Sept 2024:
I received a call from Rahul again, and he was very happy to share that the matter had been discussed with management. They will be making some changes to their app, which will be deployed soon. After these changes, customers will have more clarity on the card activation process.
I must say, IDFC First Bank listens to its customers and makes the necessary improvements.
Wishing IDFC First Bank all the best—keep listening to your customers to continue improving!
I received a call from Rahul again, and he was very happy to share that the matter had been discussed with management. They will be making some changes to their app, which will be deployed soon. After these changes, customers will have more clarity on the card activation process.
I must say, IDFC First Bank listens to its customers and makes the necessary improvements.
Wishing IDFC First Bank all the best—keep listening to your customers to continue improving!
can't disagree... but if they fix issues then it will be fixed for all customers. isn't it a good thing.
Aniket
TF Legend
@TechnoFino bro don't ignore freezing issues as well. I have mentioned this earlier by tagging and commenting on your post. You're supposed to become voice of your members/ others as well, even though you haven't faced the problem.
You can find n number of cases relating to the same (search), if you won't be able to find it let me know, I will get it for you, these issues are being faced by customers at large, their algorithm gets triggered especially because of few UPI txns & some other nonsense reason also.
Suggest them to make changes so that their algorithm will behave normally like SBI, HDFC and others. Highlight this as main concern and tell them prioritise this matter in order to get resolved quickly.
Lage haat ye bhi solve ho jayega jab discussion chal hi raha hai management ke sath... back-end team ye bhi consider karein...
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Avatar Aang
TF Premier
Same thing happened with me. JF charged and statement generated before delivery of card. I mean how's that even possible??
True... I'll definitely tell them regarding this... BTW one of my family member also facing this same issue.
Today I received my Axis Airtel MC card and activated. Then I checked in the Axis app and found joining fees deducted on 16th i.e. 4 days before activation.
16th was when my card was dispatched and debited on same day.
Aniket
TF Legend
@TechnoFino Mail them including their top level management and inform the same who is taking followup and forwarding concern to management as well in that case. Let us know their response on this.
Again, I am saying, this is the utmost concerning issue affecting SAs holders at large for nonsense reasons. It needs to get fixed by making required changes by their developer or concerned teams.
P.S: One needs to visit branch in person and even after visiting it takes time longer than expected after giving proper explanation, some can able to unfreeze, whereas some can't. Again and again same thing happens which compelled to close the account permanently.
aparnahm
TF Premier
Agree that it benefits everybody. But there are some concerns which are specific to each customer which are not addressed. Like upgrade of sb accounts etc. For some people, it gets easily done. For some, it doesn't happen at all.
JigmeKhesar
TF Buzz
that is what their staff are good at but you will never get the promised resolution or feature. chains of mails and calls and then you receive a call from someone new and have to go through the whole ordeal again.
my address was updated at a branch (after their app and internet banking platform just won't let me and an update was promised in the new FY - this was in Sep/Oct 2023) and the mobile app still shows the old address! my RD was matured and transferred to an office account and the customer service or the branch staff had no idea about it. upon merger with Capital First, an unsolicited EMI card was issued to everyone and then even getting it closed was a chore. the bank created a new customer ID for my wife in 2022 and they had no idea about why or how for 10 months! complained via the RBI grievance system and the bank confirms that the customer ID is now purged. i could go on.
i have been with this bank since it was IDFC Bank and had a creative advert "we need Guinea Pigs for testing" and even had the highest exposure to them but that little bit of interest is no good when you are dealing with such a bank where you realise that the culture of lies and deceit is institutional and not the exception.
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