How to avoid annual fees for Debit Cards ???

[BlueFlash]

So, we all have been chasing after LTF credit cards, but most of our debit cards have an annual fees, mostly in the range of 300-500. A lot of us have multiple bank accounts with different banks, some zero balance, some with minimal balance; but in general, all the debit cards issued with them are chargeable. How can we avail LTF debit cards ? Also, since debit cards are hardly used for any other purpose apart from cash withdrawal, most of us would be fine with a lower/basic variant debit card. Certain higher variant of savings account come with LTF debit card, like HDFC Max and IDFC Signature which has a 25K MAB, but is there other ways, especially for other banks ?
Also, since debit card is mandatory for UPI Pin generation and all, we would need it; we can't just hotlist/block it and live without the card itself.

So, calling down the experts of Technofino to help on ways as how to avoid annual charges for debit card 🙂

 

[TheTrickySid]

Only 2 ways to avoid annual charge for debit card
1. Get a debit card which has no issuance and annual charges else you can also opt for virtual only dc if the bank allows.
2. Open a high variant account, almost all high variant account have free debit card.

 

[anonymuos]

I got the following:

Private banks:

HDFC SavingsMax account: Lifetime free DC whether it's Visa or RuPay
IndusInd Exclusive savings account (under special offer): Lifetime free Signature Exclusive Visa DC (or MasterCard)
Yes Premia: Lifetime free DC whether it's Visa or RuPay as long you are in Yes Premia program
Federal Fi (Lifetime free Virtual Visa Electron/Platinum DC) - physical card now chargeable for new customers, free for existing customers till expiry
Federal Jupiter (Banking partner: Federal Bank) (Lifetime free Visa Signature DC) - update: now they require 10K MAB or FD for Pro status so DC charges waived
SBM Bank: Niyo Global (Lifetime free Visa Signature DC)
SBM Bank: Hop Money (Lifetime free Visa Signature DC)
ICICI Wealth account: Debit card free until Wealth management status in account
Kotak 811 (Virtual Visa Classic DC lifetime free) but sadly physical card always chargeable
IDFC First Bank: Debit card free if maintaining 25K balance, also,Lifetime free mini form factor DC (Firstap) except one time ₹99 charge

Public-sector banks:

BOB Advantage Savings account (Virtual debit card lifetime free in BOB World app)
Union Bank (Debit card charges waived off if doing 40 POS/E-comm transactions in previous year)
Punjab National Bank (Virtual RuPay Classic DC lifetime free in PNB One app)

Co-operative banks:

Saraswat Co-operative Bank (Lifetime free virtual DC)
SVC Bank (for Classic account Lifetime free DC)

Payment banks:

NSDL Payments Bank (Lifetime free Virtual RuPay Platinum DC)
Paytm Payments Bank (Lifetime free Virtual Visa or RuPay DC)

 

[sdogg525]

So, we all have been chasing after LTF credit cards, but most of our debit cards have an annual fees, mostly in the range of 300-500. A lot of us have multiple bank accounts with different banks, some zero balance, some with minimal balance; but in general, all the debit cards issued with them are chargeable. How can we avail LTF debit cards ? Also, since debit cards are hardly used for any other purpose apart from cash withdrawal, most of us would be fine with a lower/basic variant debit card. Certain higher variant of savings account come with LTF debit card, like HDFC Max and IDFC Signature which has a 25K MAB, but is there other ways, especially for other banks ?
Also, since debit card is mandatory for UPI Pin generation and all, we would need it; we can't just hotlist/block it and live without the card itself.

So, calling down the experts of Technofino to help on ways as how to avoid annual charges for debit card 🙂

Getting a high variant account is your best bet.

 

[Wealth is my birth right!]

So, we all have been chasing after LTF credit cards, but most of our debit cards have an annual fees, mostly in the range of 300-500. A lot of us have multiple bank accounts with different banks, some zero balance, some with minimal balance; but in general, all the debit cards issued with them are chargeable. How can we avail LTF debit cards ? Also, since debit cards are hardly used for any other purpose apart from cash withdrawal, most of us would be fine with a lower/basic variant debit card. Certain higher variant of savings account come with LTF debit card, like HDFC Max and IDFC Signature which has a 25K MAB, but is there other ways, especially for other banks ?
Also, since debit card is mandatory for UPI Pin generation and all, we would need it; we can't just hotlist/block it and live without the card itself.

So, calling down the experts of Technofino to help on ways as how to avoid annual charges for debit card 🙂

I put my answer other way how to utilise/compensate the fee paid for a DC:

1. Use for online funds transfer/spends and earn RP and get encashed.
2. Participate in seasonal offers likely 3 or 4 times in an year for CB in that card and earn CB out of that card (CB can be GVs too).
3. Use free dom lounge usage or railway lounge atleast once in an year if your DC is eligible

FYI i own free DCs like signature exclusive with IndusInd, Platinum from HDFC SMax acc, ICICI Privilege banking and BOB virtual only also to add in India posts acc which is linked with my daughters SSS and one of my postal savings acc they charge 25/- per year just for a virtual rupay classic card.

Final line: Its not about charge paid for card, how to get benefits which tallies the deal like any fee for DC in icici i feel worthy since their security grid of nos on back side of DC for online funds transfer need it.

 

[ltf4ever]

i closed my axis dc. 0 rewards/offers and high fees for basic savings account.

 

[Slayer]

i closed my axis dc. 0 rewards/offers and high fees for basic savings account.

Average Axis savings account user

 

[ltf4ever]

Average Axis savings account user

soon to be former axis account user

 

[kjs]

I got the following:

HDFC SavingsMax account: Lifetime free DC whether it's Visa or RuPay
Indus Exclusive savings account (under special offer): Lifetime free Signature Exclusive Visa DC (or MasterCard)
Yes Premia: Lifetime free DC whether it's Visa or RuPay
Fi Money (Banking partner: Federal Bank) (Lifetime free Visa Electron/Platinum DC)
Jupiter (Banking partner: Federal Bank) (Lifetime free Visa Signature DC)
Niyo Global (Banking partner: SBM Bank) (Lifetime free Visa Signature DC)
Hop Money (Banking partner: SBM Bank) (Lifetime free Visa Signature DC)
BOB Advantage Savings account (Virtual debit card lifetime free in BOB World app)
Kotak 811 (Virtual Visa Classic DC lifetime free)
Union Bank (Debit card charges waived off if doing 40 POS/E-comm transactions in previous year)
Punjab National Bank (Virtual RuPay Classic DC lifetime free in PNB One app)
SVC Bank (for Classic account Lifetime free DC)
NSDL Payments Bank (Lifetime free Virtual RuPay Platinum DC)
Paytm Payments Bank (Lifetime free Virtual Visa or RuPay DC)
Saraswat Co-operative Bank (Lifetime free virtual DC)
ICICI (Lifetime free DC via Wealth account)
IDFC First (Lifetime free DC via Firstap except one time ₹99 charge)
UCO Bank (Lifetime free DC via No-Frills account)

For all other banks, especially public-sector and co-operative banks and those private banks which readily issue RuPay Platinum on savings accounts, get that so cost of DC is recovered via Amazon offer.

Paytm Wallet reload using union bank debit card are considered as eCommerce transaction ?

 

[vikasbrb]

Choose bank which provide virtual debit card with no charges.

 

[pra1968]

Paytm Wallet reload using union bank debit card are considered as eCommerce transaction ?

My statement shows as POS transection......

 

[kjs]

My statement shows as POS transection......

Okay..so if we load wallet 40 times..this card annual fee would get waived off in the next year ?

 

[pra1968]

Okay..so if we load wallet 40 times..this card annual fee would get waived off in the next year ?

Just check your statement.......

 

[kjs]

Just check your statement.......

yes checked its showing POS , but 40 + such transactions will make debit card rewenal fee free ?

 

[anonymuos]

Paytm Wallet reload using union bank debit card are considered as eCommerce transaction ?

This is my first year of charges and I crossed 40 transactions already, no charges so far but 1 year is yet to complete. But I have a friend having Union Bank account for years and he says he makes sure his POS/eCOM transactions exceed 40 and he's never been charged for the DC.

 

[kjs]

This is my first year of charges and I crossed 40 transactions already, no charges so far but 1 year is yet to complete. But I have a friend having Union Bank account for years and he says he makes sure his POS/eCOM transactions exceed 40 and he's never been charged for the DC.

Thats amazing for a high variant card ..

 

[praful47]

I got the following:

Private banks:

HDFC SavingsMax account: Lifetime free DC whether it's Visa or RuPay
IndusInd Exclusive savings account (under special offer): Lifetime free Signature Exclusive Visa DC (or MasterCard)
Yes Premia: Lifetime free DC whether it's Visa or RuPay as long you are in Yes Premia program
Federal Fi (Lifetime free Virtual Visa Electron/Platinum DC) - physical card now chargeable for new customers, free for existing customers till expiry
Federal Jupiter (Banking partner: Federal Bank) (Lifetime free Visa Signature DC) - update: now they require 10K MAB or FD for Pro status so DC charges waived
SBM Bank: Niyo Global (Lifetime free Visa Signature DC)
SBM Bank: Hop Money (Lifetime free Visa Signature DC)
ICICI Wealth account: Debit card free until Wealth management status in account
Kotak 811 (Virtual Visa Classic DC lifetime free) but sadly physical card always chargeable
IDFC First Bank: Debit card free if maintaining 25K balance, also,Lifetime free mini form factor DC (Firstap) except one time ₹99 charge

Public-sector banks:

BOB Advantage Savings account (Virtual debit card lifetime free in BOB World app)
Union Bank (Debit card charges waived off if doing 40 POS/E-comm transactions in previous year)
Punjab National Bank (Virtual RuPay Classic DC lifetime free in PNB One app)

Co-operative banks:

Saraswat Co-operative Bank (Lifetime free virtual DC)
SVC Bank (for Classic account Lifetime free DC)

Payment banks:

NSDL Payments Bank (Lifetime free Virtual RuPay Platinum DC)
Paytm Payments Bank (Lifetime free Virtual Visa or RuPay DC)

Update for jupiter debit card
If you spend more than 25k non atm transactions like POS swipe or wallet top-up in the presiding year annual fee will be waived off