IDFC Family Banking for First Select/Wealth/Private Customers

[Anindya98]

I am sharing my history with IDFC: (WOW Card) May 2023 only this was available -> SB Account 25KMAB Joint July 2023 (Secondary Holder) -> SB Account 25KMAB Joint October 2023 (Primary) -> Applied Via CashKaro got IDFC Millenia/Classic without docs via C2C (Selected Millenia 1.38L)-> SB Account 25KMAB May 2024 -> First Select Account Conversion on 14th June 2024 -> Called the CC asked for Select Card as I was pre-qualified instantly request taken card generated within few hours
I only spend Rs130 using my Millenia Card before the upgrade.
Also, got a new single account for my mother 25K MAB in June 2024.

My Family Banking Journey: Requested for family banking on 2nd July 2024. Received a consent message via them on my family member's registered mobile number "To complete the onboarding process for Privilege Program with IDFC FIRST Bank". After accepting that, I have to wait till 9th July for the grouping approval by the Regional Head(RH). On 12th July finally received the First Select Upgrade email on my family members' registered emails. After that, my family members' customer IDs also got upgraded to First Select status.

Key Points: * Only my mobile application/net banking First Select is mentioned beside the bank accounts. All other members in the First Rewards Portal is showing First Select.
** Select DC was not generated by Default I had to call the CC and ask them specifically first they denied issuing the cards mentioning only the primary account gets the Select DC and grouped members enjoy 0 MAB Accounts. However, after showing that all the Customer IDs are now in First Select they issued the cards which took around 5-7 days for all the cards to get delivered. The last Card got delivered today.
Individual Account: 2 Joint: 2
Total Received 6 Select DCs. Welcome benefits on the joint account is only given to the card linked with the primary holder. 2 Select Cheque-Books for the family members Cus ID linked accounts.

Note: All benefits are the same on all 6 cards. I checked on the Dreamfolks website, all 6 cards have 2+2 Lounge Access per Quarter.

 

[theflash]

I mean can i link now to make his account upgraded to select?

Yes

Coz branch is saying that it's only possible for wealth

They're lying. Tell them you'll approach higher authorities or RBI Ombudsman for mis information.

 

[Anindya98]

I mean can i link now to make his account upgraded to select?

First, your account will be upgraded to Select, and then only you can add your father's account. The accounts will not be upgraded together, one by one.
While linking to family banking your father has to give consent before joining the program under you. Family Banking and opening the Select Account are different processes.

Coz branch is saying that it's only possible for wealth

False.
I have the Select account based on my relationship, and all my other accounts have the same status and benefits under family banking.

 

[VasukiVasuki is verified member.]

First, your account will be upgraded to Select, and then only you can add your father's account. The accounts will not be upgraded together, one by one.
While linking to family banking your father has to give consent before joining the program under you. Family Banking and opening the Select Account are different processes.

False.
I have the Select account based on my relationship, and all my other accounts have the same status and benefits under family banking.

I added my brother when I was in select
Later
Both got upgraded to Welath

 

[Anindya98]

I added my brother when I was in select
Later
Both got upgraded to Welath

That's only I am saying first his account will be upgraded then his father's

 

[iamsaimansari]

That's only I am saying first his account will be upgraded then his father's

Okay I'll ask bank to get my father's account upgraded to select and i already have select

 

[iamsaimansari]

I am sharing my history with IDFC: (WOW Card) May 2023 only this was available -> SB Account 25KMAB Joint July 2023 (Secondary Holder) -> SB Account 25KMAB Joint October 2023 (Primary) -> Applied Via CashKaro got IDFC Millenia/Classic without docs via C2C (Selected Millenia 1.38L)-> SB Account 25KMAB May 2024 -> First Select Account Conversion on 14th June 2024 -> Called the CC asked for Select Card as I was pre-qualified instantly request taken card generated within few hours
I only spend Rs130 using my Millenia Card before the upgrade.
Also, got a new single account for my mother 25K MAB in June 2024.

My Family Banking Journey: Requested for family banking on 2nd July 2024. Received a consent message via them on my family member's registered mobile number "To complete the onboarding process for Privilege Program with IDFC FIRST Bank". After accepting that, I have to wait till 9th July for the grouping approval by the Regional Head(RH). On 12th July finally received the First Select Upgrade email on my family members' registered emails. After that, my family members' customer IDs also got upgraded to First Select status.

Key Points: * Only my mobile application/net banking First Select is mentioned beside the bank accounts. All other members in the First Rewards Portal is showing First Select.
** Select DC was not generated by Default I had to call the CC and ask them specifically first they denied issuing the cards mentioning only the primary account gets the Select DC and grouped members enjoy 0 MAB Accounts. However, after showing that all the Customer IDs are now in First Select they issued the cards which took around 5-7 days for all the cards to get delivered. The last Card got delivered today.
Individual Account: 2 Joint: 2
Total Received 6 Select DCs. Welcome benefits on the joint account is only given to the card linked with the primary holder. 2 Select Cheque-Books for the family members Cus ID linked accounts.

Note: All benefits are the same on all 6 cards. I checked on the Dreamfolks website, all 6 cards have 2+2 Lounge Access per Quarter.

I want to know one thing I got my mother's account opened this month directly to wealth and have withdrawn the money after a week, do I need to keep 10 lakhs for family banking?

 

[Anindya98]

I want to know one thing I got my mother's account opened this month directly to wealth and have withdrawn the money after a week, do I need to keep 10 lakhs for family banking?

No, need to fund 10L, but I suggest you keep 1.5 to 2L while requesting Family Banking as the CH approval is required.

 

[iamsaimansari]

No, need to fund 10L, but I suggest you keep 1.5 to 2L while requesting Family Banking as the CH approval is required.

Okay I'll! Thanks man

 

[alpha2betaa]

@Anindya98
Hello
I have a Corporate Salary account opened recently in September and want it to be converted to either Select or Wealth...

As per you, what can be the best way to go ahead?
Will I have to cancel the existing salary account and open fresh 25k MAB account?

Planning to visit branch next week...

 

[Anindya98]

@Anindya98
Hello
I have a Corporate Salary account opened recently in September and want it to be converted to either Select or Wealth...

As per you, what can be the best way to go ahead?
Will I have to cancel the existing salary account and open fresh 25k MAB account?

Planning to visit branch next week...

Put 3L or 10L in your account before 31st Dec, then visit the branch as the BM for an account upgrade based on the balance. If they say they can't do that, open a fresh account with the same amount, which will be directly upgraded to Select/Wealth, and then add your corporate salary account under family banking.

 

[alpha2betaa]

Put 3L or 10L in your account before 31st Dec, then visit the branch as the BM for an account upgrade based on the balance. If they say they can't do that, open a fresh account with the same amount, which will be directly upgraded to Select/Wealth, and then add your corporate salary account under family banking.

Yesterday salary got deposited with bonus..
I visited the branch today and asked for conversion of Salary account to Select account

The executive showed me that the criteria is >3L AMB and the relation shall be better either in sense of time (>1 Yr) or shall have financial plannings with IDFC or monthly salary of 2L+

I said there are many people (new customers FOR IDFC), who got the Select/Wealth account just by depositing 3 to 10L resp.

Then she initiated the process and she said she will try to convert Salary account to Select account but can't guarantee because of 2 reasons mentioned above...

Let's see...

In how many days shall I expect the conversion if it happens..??

 

[Anindya98]

In how many days shall I expect the conversion if it happens..??

within 5 Working days, you can track the SR req via the App.

 

[Noob:)]

within 5 Working days, you can track the SR req via the App.

Do you receive the consent link in both accounts (like the primary and the one whose accounts I want to add in family banking)?

 

[Anindya98]

Do you receive the consent link in both accounts (like the primary and the one whose accounts I want to add in family banking)?

No consent is required for the primary number as the account has already been upgraded to the program. Consent is only necessary for any add-ons.

Note that if you have a JA and you are the primary account holder, no additional consent is required.