Sinatra
TF Buzz
Wanted to reflect our latest experience with this IDFC FIRST Bank, so that others can take an informed decision and avoid banking with this unprofessional bank.
One of my family member wanted a bank for saving and investment purpose and was massively attracted toward this bank's advertised feature and false PR/online reviews.
The bank was ticking almost all the tick-marks we wanted, even exceeded them on paper.
They confirmed feature over phone banking, like Visa Signature Debit card, 0 fees for any transaction, online or offline, unlimited free ATM withdrawals across any bank ATM, 8% rate in FD, and all. We also informed that, if we visit the branch in-person and open the account, the account will be 0-balance instead of regular 25k AMB.
Hence took out time out and accompanied my family member to the branch. (its their main/biggest branch in a tier-1 city).
Executive in the bank told us that we have been misinformed (by their own customer care) on almost everything. For example:
So we thought, lets open the account and wait for the account to be active, get internet banking, etc. and than later open FD/RDs.
after few days we received the account opening kit by post.. they sent the worst debit card, a no-name master card.
The RM is very very irresponsible, doesn't bother to even answer our call. Their phone banking says something, branch says otherthing, and in reality something else is happening with us. Each and every individual inside this bank is disconnected and don't have single views on most of the things.
We wasted our time and effort, plus money. If we selected any other bank we could have earned the FD interest for this entire month of january.
Overall the impression we got was very lackluster, and the expression of help desk was very unwelcoming, as if why we visited branch and destroyed their peace of life.
This is India's 5th largest bank. wow !!
There are other, much much smaller, banks out there like, RBL, DCB, who are 1/10th compared to IDFC, but they treat customer so well, their staffs are well informed and dont trick customers.
Please do proper research before thinking about any relatoinship with this bank.
reddit is full of praises for them, but now i released all were 4-5yrs old... we missed to do proper due diligence and hence deserved this inconvenience.
We are planning to visit bank this saturday and shall close this account.
Hope this post will help other to do proper research.
One of my family member wanted a bank for saving and investment purpose and was massively attracted toward this bank's advertised feature and false PR/online reviews.
The bank was ticking almost all the tick-marks we wanted, even exceeded them on paper.
They confirmed feature over phone banking, like Visa Signature Debit card, 0 fees for any transaction, online or offline, unlimited free ATM withdrawals across any bank ATM, 8% rate in FD, and all. We also informed that, if we visit the branch in-person and open the account, the account will be 0-balance instead of regular 25k AMB.
Hence took out time out and accompanied my family member to the branch. (its their main/biggest branch in a tier-1 city).
Executive in the bank told us that we have been misinformed (by their own customer care) on almost everything. For example:
- No 0-balance accounts. If you open online or in-person doesn't matter.
- They seem to receive an email form their top management on the same day via email ordering them not to issue any new Visa Signature card, rather issue Visa Platinum card, we have been told if we came 1 day before we would have received Signature card.
- FD rates are not 8%, rather 7.8/7.9 (forgotten exact figure).
So we thought, lets open the account and wait for the account to be active, get internet banking, etc. and than later open FD/RDs.
after few days we received the account opening kit by post.. they sent the worst debit card, a no-name master card.
The RM is very very irresponsible, doesn't bother to even answer our call. Their phone banking says something, branch says otherthing, and in reality something else is happening with us. Each and every individual inside this bank is disconnected and don't have single views on most of the things.
We wasted our time and effort, plus money. If we selected any other bank we could have earned the FD interest for this entire month of january.
Overall the impression we got was very lackluster, and the expression of help desk was very unwelcoming, as if why we visited branch and destroyed their peace of life.
This is India's 5th largest bank. wow !!
There are other, much much smaller, banks out there like, RBL, DCB, who are 1/10th compared to IDFC, but they treat customer so well, their staffs are well informed and dont trick customers.
Please do proper research before thinking about any relatoinship with this bank.
reddit is full of praises for them, but now i released all were 4-5yrs old... we missed to do proper due diligence and hence deserved this inconvenience.
We are planning to visit bank this saturday and shall close this account.
Hope this post will help other to do proper research.
