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

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Shraaj

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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falcon007 said:
Nodal officer says the pots account is marked as dormant.

Now, I want to know is there any RBI guideline where banks have to inform users about account status being converted to dormant before it happens?
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falcon007 said:
Nodal officer says the pots account is marked as dormant.

Now, I want to know is there any RBI guideline where banks have to inform users about account status being converted to dormant before it happens?
Click to expand...
An account becomes dormant when there are no transactions within 12 or 24 months .
You didn't do single transaction?
Nodal officer didn't say anything why it is marked dormant ?
 
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falcon007 said:
Nodal officer says the pots account is marked as dormant.

Now, I want to know is there any RBI guideline where banks have to inform users about account status being converted to dormant before it happens?
Click to expand...
Banks shall undertake atleast an annual review in respect of accounts, where there is no customer induced transactions for more than a year. In cases where there is no explicit mandate to renew the term deposit, the banks should review such accounts if the customers have not withdrawn the proceeds after maturity or transferred these to their savings/current account in order to prevent such deposits from becoming unclaimed. The banks shall inform the account/deposit holders in writing through letters or email or SMS (if the email and mobile number are registered with the bank) that there has been no operation in their accounts/deposits in the last one year, as the case may be. The alert messages shall invariably mention that the account would become ‘inoperative’ if no operations are carried out during the next one year and, the account holder would be required to submit KYC documents afresh for reactivating the account in such case
 

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NShah said:
Sabhi account closure request raise kar rahe isliye disable kardiya Bh...di walo ne
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Shubham Yadav said:
Array yrr

Jis din socho muh se gaali nhi dena usi din kuch na kuch ho jata

L***da Fipi
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Yehi toh chaal hai

Fi aur Jupiter dono ki

@Batman ka bhi gaya

Context:
www.technofino.in

Jupiter - Refusing account closure due to POT account freeze, even though savings account is active.

I have already escalated this issue with RBI Raise at BO website Attach all mails with Jupiter Tagging CRPC in mail is not enough But they've something called a "POT" account which is frozen. This pot freeze is a trick used by them for retaining the customer Should I be writing to...
www.technofino.in www.technofino.in
 
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its_karan said:
Yehi toh chaal hai

Fi aur Jupiter dono ki

@Batman ka bhi gaya

Context:
www.technofino.in

Jupiter - Refusing account closure due to POT account freeze, even though savings account is active.

I have already escalated this issue with RBI Raise at BO website Attach all mails with Jupiter Tagging CRPC in mail is not enough But they've something called a "POT" account which is frozen. This pot freeze is a trick used by them for retaining the customer Should I be writing to...
www.technofino.in www.technofino.in
Click to expand...
Kya kare karan sir

kare toh kya kare
 
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