IDFC Bank Account Total Freeze

[SteelSh0t]

I've been using IDFC Bank account for around 3.5 years now but suddenly 4 days ago, they added a Total Freeze on my bank account stating - Financial transactions (both debit and credit) in your account are currently restricted.
I contacted my RM and he said that NPCI has put a restriction on the account and asked me from where I receive UPI payments in my account. I notified them that those UPI txns are from my business bank account and said the same over email, but after that, there have been no updates regarding this and just said that its in process.

Any idea what should I do next?

Update - After 20 days, the bank finally removed the Freeze from my account

 

[abhiver]

Is there any way to close this bank account and take the money and open a new bank account instead in some other bank or will I have to wait till they unfreeze my bank account

In my experience with Indusind debit freeze, the BM told me that it is possible to close the account and they will issue check, but I cannot open new account with them for 6 months. And since he didn't want to actually close my account, he told me to wait for a week and assure that he will seek approval from higher authority to get it unfreeze.

 

[Vasuki]

In my experience with Indusind debit freeze, the BM told me that it is possible to close the account and they will issue check, but I cannot open new account with them for 6 months. And since he didn't want to actually close my account, he told me to wait for a week and assure that he will seek approval from higher authority to get it unfreeze.

True account closure is always a option .

 

[abhiver]

As long as Freeze is not ordered on Judicial ground, account closure is possible.

Also the term is "Debit Freeze", which restrict withdrawal of money. But any standing instruction or emi auto payment will not be hampered due to debit freeze.

 

[varun__goel_]

Is there any way to close this bank account and take the money and open a new bank account instead in some other bank or will I have to wait till they unfreeze my bank account

Closing bank account is the only way you can get your money back RN

 

[varun__goel_]

I broke my fd in idfc 😂😂 seeing this &moved it to hdfc

RM be like:-

 

[Vasuki]

RM be like:-
View attachment 45715

Since he isn't rm .
Can't check my account directly unless he wants to close look at my account 🥸

 

[SteelSh0t]

You can close the account if they unable to solve it .

But if your credit is suspicious like from gambling, or some police verification for money ..then u might not ..
But if u done from p2p upi from one account to another ..place account closure & get ur momey out ..
Should not be a problem

I don't do gambling nor have any police verification for the money.
I just receive money from my business bank account to personal bank account.

 

[abhiver]

I don't do gambling nor have any police verification for the money.
I just receive money from my business bank account to personal bank account.

So you basically move money from one account to another account.

Strange that they ( I mean NPCI as IDFC claim that they requested) block your personal account but not the business account

 

[varun__goel_]

I don't do gambling nor have any police verification for the money.
I just receive money from my business bank account to personal bank account.

Then just visit the branch and provide them statement of both of the bank accs and a proof that you have a interest in that business

 

[SteelSh0t]

So you basically move money from one account to another account.

Strange that they ( I mean NPCI as IDFC claim that they requested) block your personal account but not the business account

My business account is not in IDFC Bank. And there hasn't been any issue with my business bank account

 

[Vasuki]

My business account is not in IDFC Bank. And there hasn't been any issue with my business bank account

You need to show both r your account for debit & credit ..
Nothing else

 

[SteelSh0t]

I talked to the branch manager who has been saying for the past 2 days that my account will be operational within the end of day but it is still frozen lol

 

[ScaredIRL]

Facing the same total freeze issue on my IDFC account. I've been in contact through emails as the branch is not so close to me. So, today, I got a call from my nearest branch executive who said that I have been doing too many UPI transactions, which is the reason for the freeze. I said that almost all transactions were from my accounts, but he pointed out that some of them didn't belong to me. So, I checked myself and found that out of all the UPI transactions, I received money from 3 P2P transactions (Most of us know for what) in December, and those were the ones he specifically said for the freeze. The total sum of those 3 transactions was around 25k, so it was relatively small. Apart from these, other transactions were from my accounts only.

The only solution he provided was to visit the branch, as they would need me to do some procedure to unfreeze the account. They also said that they would try to unfreeze it, and if no possible, they would close the account. Also, the branch executive advised me to use NEFT instead of UPI for future transactions.

Frankly, I have never encountered this issue with AXIS Bank before, but regardless, I have decided to close my IDFC account, whether it unfreezes or not.

 

[Vasuki]

Facing the same total freeze issue on my IDFC account. I've been in contact through emails as the branch is not so close to me. So, today, I got a call from my nearest branch executive who said that I have been doing too many UPI transactions, which is the reason for the freeze. I said that almost all transactions were from my accounts, but he pointed out that some of them didn't belong to me. So, I checked myself and found that out of all the UPI transactions, I received money from 3 P2P transactions (Most of us know for what) in December, and those were the ones he specifically said for the freeze. The total sum of those 3 transactions was around 25k, so it was relatively small. Apart from these, other transactions were from my accounts only.

The only solution he provided was to visit the branch, as they would need me to do some procedure to unfreeze the account. They also said that they would try to unfreeze it, and if no possible, they would close the account. Also, the branch executive advised me to use NEFT instead of UPI for future transactions.

Frankly, I have never encountered this issue with AXIS Bank before, but regardless, I have decided to close my IDFC account, whether it unfreezes or not.

@#aniket @varun__goel_
Your fav bank

 

[Aniket]

@#aniket @varun__goel_
Your fav bank

 

[Vasuki]

Please do more upi 💀

My branch employee called to keep 2 l atleast in this month 🤣
How do i say on his face that IDFC sucks & i only opened for address

 

[varun__goel_]

@#aniket @varun__goel_
Your fav bank

@#aniket mujhe man hi man gaaliya de rha hoga😂🤣

Bichare ka 1 week phle hi FF khulwaya tha😂

 

[Aniket]

Facing the same total freeze issue on my IDFC account. I've been in contact through emails as the branch is not so close to me. So, today, I got a call from my nearest branch executive who said that I have been doing too many UPI transactions, which is the reason for the freeze. I said that almost all transactions were from my accounts, but he pointed out that some of them didn't belong to me. So, I checked myself and found that out of all the UPI transactions, I received money from 3 P2P transactions (Most of us know for what) in December, and those were the ones he specifically said for the freeze. The total sum of those 3 transactions was around 25k, so it was relatively small. Apart from these, other transactions were from my accounts only.

The only solution he provided was to visit the branch, as they would need me to do some procedure to unfreeze the account. They also said that they would try to unfreeze it, and if no possible, they would close the account. Also, the branch executive advised me to use NEFT instead of UPI for future transactions.

Frankly, I have never encountered this issue with AXIS Bank before, but regardless, I have decided to close my IDFC account, whether it unfreezes or not.

Now, I am doubting, should I feel regret because of this trend! 📈

Why no one is taking this matter to RBI BO or other concerned authorities on the account of unauthorised freeze from bank end for nothing but just on doing some genuine UPI trxns.

What's suspicious, fraud, or sth else in this so that bank have to make total freeze in a way, so that customer thinks or advised/ forced from the branch to close the account.

If the same person use some other medium other than UPI, then it's well and good. But as soon as a holder use UPI, his account will be freezed, disgusting!

The rise of this trend is occurring because we are choosing peace of mind by closing the account instead
fighting a little bit for ourselves.

Note: Other medium to add fund in IDFC A/c is only UPI, earlier there were various options like IMPS, RTGS, NEFT. Not only this, per trxn limit of UPI is only 25k though bank has to do this nonsense.

 

[Vasuki]

Now, I am doubting, should I feel regret because of this trend! 📈

Why no one is taking this matter to RBI BO or other concerned authorities on the account of unauthorised freeze from bank end for nothing but just on doing some genuine UPI trxns.

What's suspicious, fraud, or sth else in this so that bank have to make total freeze in a way, so that customer thinks or advised/ forced from the branch to close the account.

If the same person use some other medium other than UPI, then it's well and good. But as soon as a holder use UPI, his account will be freezed, disgusting!

The rise of this trend is occurring because we are choosing peace of mind by closing the account instead
fighting a little bit for ourselves.

Note: Other medium to add fund in IDFC A/c is only UPI, earlier there were various options like IMPS, RTGS, NEFT. Note only this, per trxn limit of UPI is only 25k though bank has to do this nonsense.

Be the torch bearer.
Do upi transction
10 a day ..get freezed and lead the march commander

 

[Aniket]

Please do more upi 💀

My branch employee called to keep 2 l atleast in this month 🤣
How do i say on his face that IDFC sucks & i only opened for address

How dare they?

2 lac atleast in Non Maintenance A/c for thier commission and targets, WoW 😂

Forward the call recording to NO, PNO, & lastly to BO.🙃