IDFC First Bank Launched its Debit Card Reward System

[Sudbht]

How many times have you redeemed in Nov Month?

I have redeemed two times in one account and three times in another account. Redemption fees are also deducted the same number of times.

So it can be say that from nov month they are starting to charge redemption fees. It is only my observation. others please confirm.

Yah i see the same on my other family account its 3 redemption and 3 times fee deducted. I did for once and same deducted.

 

[Ashishag22]

How many times have you redeemed in Nov Month?

I have redeemed two times in one account and three times in another account. Redemption fees are also deducted the same number of times.

So it can be say that from nov month they are starting to charge redemption fees. It is only my observation. others please confirm.

yes you are right buddy.
I redeemed 5 times in Nov month, so have been charged 5 times .

 

[Anindya98]

Just now they have charged 99+GST for redemption. I haven't been charged before and this is first time.

Yes,
In last 10min, i am been charged 99+gst redemption fee 5 times. 🥲
More on the way i guess

How many times have you redeemed in Nov Month?

I have redeemed two times in one account and three times in another account. Redemption fees are also deducted the same number of times.

So it can be say that from nov month they are starting to charge redemption fees. It is only my observation. others please confirm.

Timeline of redemptions I have redeemed a total of 6 times (5+1) in November month and have not been charged so far. Will update if I get charged.
Date of Redemption: 30th Nov all 6 redemptions done.

 

[Anindya98]

redemption charges pehle bhi lg rhe thy .... 25k wala normal saving account tha mere pass uss pe charges lg rhe thy .... but jb se select open kiya hai .. charges nhi lg rhe

I redeemed after upgrading to Select and have never been charged so far.

 

[HumorSimpson]

I redeemed after upgrading to Select and have never been charged so far.

Even my account is upgraded to select and then I redeemed . Yours too will come, looks like they are doing in batches.

 

[Anindya98]

Even my account is upgraded to select and then I redeemed . Yours too will come, looks like they are doing in batches.

If I get charged I will ask my BM for a reversal. He is eagerly waiting for me to upgrade my account to Private next year. I think he will reverse it.

 

[Sobirvs]

Just now they have charged 99+GST for redemption. I haven't been charged before and this is first time.

same here. I have done redemption twice. Once charged on CC and 2nd time charged on savings just 30 mins back.

 

[Sobirvs]

If I get charged I will ask my BM for a reversal. He is eagerly waiting for me to upgrade my account to Private next year. I think he will reverse it.

I hope you are keeping your IDFC money atleast in deposits and not in savings coz interest is about 1% less in savings and even with different per slabs in 1-5lakhs etc, so saving interest rate is low compared to FD and just for reversal of redemption, it's not worth it to keep money in savings.

 

[Anindya98]

I hope you are keeping your IDFC money atleast in deposits and not in savings coz interest is about 1% less in savings and even with different per slabs in 1-5lakhs etc, so saving interest rate is low compared to FD and just for reversal of redemption, it's not worth it to keep money in savings.

I already negotiated the terms I will put in 50L next year in June after the upgrade, I will do 10L FD and the rest will be shifted to other investments. I was thinking of taking Wealth, but he insisted and said to upgrade to Private, and after some time they will downgrade me to Wealth and still I can use the Private DC with all the benefits until DC renewal. I said okay.

 

[Sudbht]

Timeline of redemptions I have redeemed a total of 6 times (5+1) in November month and have not been charged so far. Will update if I get charged.
Date of Redemption: 30th Nov all 6 redemptions done.

Mine was first week of November.

 

[Sudbht]

I already negotiated the terms I will put in 50L next year in June after the upgrade, I will do 10L FD and the rest will be shifted to other investments. I was thinking of taking Wealth, but he insisted and said to upgrade to Private, and after some time they will downgrade me to Wealth and still I can use the Private DC with all the benefits until DC renewal. I said okay.

I think wealth is sufficient for most of the customers since it has a capping of 50K.

 

[Anindya98]

I think wealth is sufficient for most of the customers since it has a capping of 50K.

According to my spending, even Select is sufficient, I spend 3L a month once or twice a year. But as I have to park the money somewhere for a few days, that's why I thought to utilize the opportunity. Also the metal Private DC and the added benefits.

 

[himanshverma]

I have also been charged 99 + gst twice.


Also they can charge only for lqst 60 days not more than that.

 

[pankaj1122]

Are they going to restock amazon/flipkart vouchers?

 

[Sudbht]

Are they going to restock amazon/flipkart vouchers?

They will but when no body knows.

 

[iamsaimansari]

Will I get points if I add money to Airtel payments bank using idfc debit card

 

[HumorSimpson]

If I get charged I will ask my BM for a reversal. He is eagerly waiting for me to upgrade my account to Private next year. I think he will reverse it.

BTW how private ?

How about your private account @vaibhav111 ?

 

[iamsaimansari]

Will I get points if I add money to Airtel payments bank using idfc debit card

please tell if yk.

 

[vaibhav111vaibhav111 is verified member.]

BTW how private ?

How about your private account @vaibhav111 ?

i didn't redeemed my idfc DC rp yet though around 85,000 RP !! will redeem them in next year i guess. that too for some 5k x 5 = 25,000 so probably Croma voucher.

 

[vaibhav111vaibhav111 is verified member.]

please tell if yk.

bro do a small trnx and find out yourself.