Converting ₹25K MAB IDFC FIRST Bank account to a ₹10K MAB one

[CosmicCat]

Has anyone here converted their ₹25K MAB IDFC FIRST Bank savings account to a ₹10K one? If you did, did they automatically block the Visa Platinum debit card and issue a Classic one? Or you had to do it manually?

Were there any charges levied while doing so?

 

[telescope]

Has anyone here converted their ₹25K MAB IDFC FIRST Bank savings account to a ₹10K one? If you did, did they automatically block the Visa Platinum debit card and issue a Classic one? Or you had to do it manually?

Were there any charges levied while doing so?

Me.

No, platinum won't be blocked but additional classic will be issued.

No charges.

 

[telescope]

Mark as solution if you like it.

 

[CosmicCat]

Me.

No, platinum won't be blocked but additional classic will be issued.

No charges.

Thanks for answering my query. Really appreciate it.

Could you please answer the following questions?

1. How long ago did you convert it?
2. Was the Visa Classic debit card issued automatically after the successful conversion?
3. When you visited the branch, was it done instantly? Or it took time? If so, how long?

 

[telescope]

Thanks for answering my query. Really appreciate it.

Could you please answer the following questions?

1. How long ago did you convert it?
2. Was the Visa Classic debit card issued automatically after the successful conversion?
3. When you visited the branch, was it done instantly? Or it took time? If so, how long?

1. March
2. Yes automatically within 2 days
3. On visiting branch I was given a simple form which I needed to sign along with pan and id proof copy. The downgrade happened same day evening.

 

[telescope]

I am still using the old platinum card for both online and ATM. Never used classic dc in the fear that if I use classic dc, platinum may get cancelled. But not sure of this, as I never used classic dc. It is lying idle

 

[CosmicCat]

I am still using the old platinum card for both online and ATM. Never used classic dc in the fear that if I use classic dc, platinum may get cancelled. But not sure of this, as I never used classic dc. It is lying idle

I see. But since you converted it in March and a year hasn't passed already, so we don't know whether they would charge annual fees on the Platinum one or not, since the only differences between both the savings account variants are the debit card, and of course, the MAB requirement.

Anyway, how do you check what account variant you have? I can't find that option anywhere in both netbanking and the mobile app.

 

[telescope]

I see. But since you converted it in March and a year hasn't passed already, so we don't know whether they would charge annual fees on the Platinum one or not, since the only differences between both the savings account variants are the debit card, and of course, the MAB requirement.

Anyway, how do you check what account variant you have? I can't find that option anywhere in both netbanking and the mobile app.

Once you downgrade, "savings regular 10k" will be written just beside account number, on both mobile app and netbanking.

IDFC has no charges for dc for both 25k and 10k accounts. I called customer care and they said I won't be charged for platinum dc if I maintain 10k

 

[CosmicCat]

Once you downgrade, "savings regular 10k" will be written just beside account number, on both mobile app and netbanking.

IDFC has no charges for dc for both 25k and 10k accounts. I called customer care and they said I won't be charged for platinum dc if I maintain 10k

That's some great news. I think, to be on the safe side, I would still block the Platinum debit card.

The account actually belongs to my father, who created it solely for FDs as their interest rates are one of the best, and for the zero charges levied for most services. They outright refused to open the ₹10K variant at the branch, and opened the ₹25K variant instead.

 

[telescope]

That's some great news. I think, to be on the safe side, I would still block the Platinum debit card.

The account actually belongs to my father, who created it solely for FDs as their interest rates are one of the best, and for the zero charges levied for most services. They outright refused to open the ₹10K variant at the branch, and opened the ₹25K variant instead.

If you wish to block platinum dc, can you do an experiment for me?

Without blocking platinum dc, use classic dc once and wait for few days to see if platinum dc gets canceled automatically. If it doesn't, then you can cancel it manually.

 

[CosmicCat]

If you wish to block platinum dc, can you do an experiment for me?

Without blocking platinum dc, use classic dc once and wait for few days to see if platinum dc gets canceled automatically. If it doesn't, then you can cancel it manually.

Sure, I'll do it and get back to you.

 

[telescope]

Sure, I'll do it and get back to you.

Thank you brother