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Federal Bank - Fi Money and Jupiter Hike Service Charges for Savings Accounts from June 1st, 2024

Shraaj

TF Premier
Summary: Federal Bank & Fi Money customers will experience increased service charges from June 1st, 2024. This affects Virtual & Physical Debit Card issuance, account closure, and AMB requirements.

Article: In an email, Federal Bank notified customers of changes in service charges for Federal Bank-Fi Money & Jupiter Accounts. From June 1st, 2024, customers will face revised fees in various banking areas.

Virtual Debit Card Charges: The issuance of a Virtual Debit Card will now cost ₹354 (including GST), an increase from previous pricing.

Physical Debit Card Charges: Customers will be charged a flat fee of ₹399 (including GST) for the issuance and maintenance of Physical Debit Cards. This applies to all account types except Salary Accounts.

Account Closure Charges: Closure of Fi Money accounts after 14 days of creation will cost ₹299 (including GST).. This is applicable to all account variant

Zero Balance Accounts: All accounts, including Standard, Plus, and Infinite, must now maintain a minimum monthly average balance (AMB). Specific requirements have not yet been disclosed. These changes may disappoint customers who opened accounts in early 2021 when fees were lower.

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Federal Bank Charges Read it from Page no.9
 

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After submitting the request for account closure it takes 21 days to close the account, but if in these 21 days any amount is deposited in the account then your account closure request will be automatically cancelled.
It took a long time to close my account as my account had a credit freeze. I haven't got any confirmation mail for account closure but they say it's closed .did you get any confirmation mail regarding closure of account if yes can you DM me the mail screenshot.
When I linked this fi account in Google pay in the month of April it went through and also showed zero balance. So here is my question is my account still active, if active whom should I contact further
 

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It took a long time to close my account as my account had a credit freeze. I haven't got any confirmation mail for account closure but they say it's closed .did you get any confirmation mail regarding closure of account if yes can you DM me the mail screenshot.
When I linked this fi account in Google pay in the month of April it went through and also showed zero balance. So here is my question is my account still active, if active whom should I contact further
I raised account closure request last week
 
I was using Fi Debit card primarily for ZERO forex markup. Will it be 1.18% now?

I have RBL World Safari LTF CC for this purpose and for backup Onecard LTF with 1.18% markup.

Should I close Fi?

Also, I have Fi physical debit card, will it be chargeable annually now?

From where did you calculated 1.18%? And yes, your physical debit card is chargeable now (299 INR, if you're standard user)
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You can choose to not take debit card. It's useless.

Point is 0 balance account for chillar UPI transactions.
Sbi has server problems .
I want free debit card like jupiter had .
Can you suggest such free debit cards.

I am thinking of opening BSBDA account in icici or hdfc just for Free atm transactions.
 
Guys can you pls suggest alternatives?
I can think of 2 good options:

- Kotak 811
- SBI

In Kotak 811, you get a zero balance account along with a virtual debit card.

In SBI, you also get a zero balance account, but there is an annual debit card fee. However, you can opt out of the physical debit card and opt in for a virtual debit card through the Yono App.
 
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