IDFC Wealth Account Program - E-Mail reminder about TRV

[Half Human]

Iskeliye ek post bhi banaya.... Bhai?? 🤣🤣

 

[Half Human]

Glad that my source was true

Sad that the good days are doomed behind..

 

[BVCBVC is verified member.]

Glad that my source was true

Sad that the good days are doomed behind..

Yeah, seems good source.

This was a good loophole enjoyed by many. Gone are the best days.

 

[RichieRich]

Not received mail. Seems they’re sending to accounts who’re not maintaining.

Can you check your promotions folder.

 

[BVCBVC is verified member.]

Can you check your promotions folder.

I have 4 wealth accounts linked under family banking. No mails for anyone for now. Even in Promotions folder.

 

[Anindya98]

Yeah, seems good source.

This was a good loophole enjoyed by many. Gone are the best days.

Customers like me don’t maintain the entire MAB in a savings account alone. It’s distributed across multiple products. Downgrading us could result in a financial loss. Instead, the focus should be on penalizing those who maintain only the bare minimum balance just to earn reward points without truly engaging with the bank.

 

[BVCBVC is verified member.]

Customers like me don’t maintain the entire MAB in a savings account alone. It’s distributed across multiple products. Downgrading us could result in a financial loss. Instead, the focus should be on penalizing those who maintain only the bare minimum balance just to earn reward points without truly engaging with the bank.

IDFC has come up with the earlier requirements more strict way now.

 

[_deb_]

Is downgrading due to non-maintenance of MAB something new?

 

[Vrushank]

Any Suggestions?

We all need to Maintain ?

 

[Vrushank]

@SSV Kindly Check

 

[VGisHere]

Is downgrading due to non-maintenance of MAB something new?

With IDFC, yes. In general, No.

ICICI does not downgrade from their Wealth management, but that also does not have offerings provided by IDFC.
Seems like, got to start maintaining liquid now.

 

[theflash]

IDFC has come up with the earlier requirements more strict way now.

One thing I remember these Select/Wealth have NMC waiver right?

 

[V360]

A

Not worth getting Private unless you are UHNI. Previously, it was easy, and I liked the metal DC.

Agree - thats why not going for any investment. Even their credit cards are not free

 

[VGisHere]

One thing I remember these Select/Wealth have NMC waiver right?

Yes, there are no Non-maintenance charges, but that doesn't stop the bank to downgrade the account
May be, they start charging for services which are meant to be free for particular account variant in case of non-maintenance.

 

[sourpai]

I am maintaining much more than required MAB, still got the email yesterday. Wealth account

 

[theflash]

I am maintaining much more than required MAB, still got the email yesterday. Wealth account

That confirms that they've increased the TRV/MAB requirements maybe...

 

[Half Human]

That confirms that they've increased the TRV/MAB requirements maybe...

No... The mail was/will be sent to every person who has select ..

To make awareness that they are straightening the noose and going for the kill.

The MAB is same.

 

[theflash]

No... The mail was/will be sent to every person who has select ..

To make awareness that they are straightening the noose and going for the kill.

The MAB is same.

I have wealth, it was good to have select and then Wealth from IDFC, I did receive the mail maybe it was just a reminder I was thinking to open dad's acct under Family banking but now ig it's on no use because if I don't maintain 3/10L MAB they'll downgrade and then I'll have to use it as individual ₹10k/25k acct so in that case Axis Priority Is better I already have that under family banking with all my family members.

 

[sadhunath]

I received one for my select family banking also where I'm not even the primary account holder responsible for maintaining the balance.

 

[SSV]

@SSV Kindly Check

Yes I too received it sometime ago. They decided to downgrade the accounts based on MABs which is fair..