IDFC First - How long does it take to link family accounts?

[Purnima]

My RM has been telling me for the last 2 weeks that he has submitted the request and I need to wait.
However, I feel there is something fishy here and family linking should not take that much time.

Could you share your experience/duration it took to family link 2 or more accounts at IDFC.

Thanks in advance.

 

[pgarg24]

Mine took almost 2.5 month for family linking. However in my case we got the account converted to wealth varient and that was the reason why it took so much time.

Timeline was:
Discussed with RM on wealth varient conversion and family banking - 27(or end) of december

Primary account got converted to wealth - end of jan (RM was on leave, some personal issue to might have goten delayed due to that).

-2 accounts got added in family banking - after 20 days

Those 2 accounts upgraded to wealth varient - took another month

All in all it was a little less than 3 months to get everything done but again varient change took time due to internal conversion and approval.

 

[Salvo08]

Since IDFC has started family banking off late so there are teething issues. I'll give you a personal example. I've a joint account with my wife. The 'Standard' account was opened with me a primary customer and converted to joint holders after 6 months. IDFC upgraded my Cust ID to Wealth Program few months back but weren't converting my wife's ID to Wealth. I had to speak to my RM couple of times and it took her almost 2 months to figure out that she will have to create family ID to link my wife's ID to mine and then upgrade. And after she (RM) did that, it took more than two weeks to confirm that it has been upgraded.

 

[Andy1]

How much time it

Since IDFC has started family banking off late so there are teething issues. I'll give you a personal example. I've a joint account with my wife. The 'Standard' account was opened with me a primary customer and converted to joint holders after 6 months. IDFC upgraded my Cust ID to Wealth Program few months back but weren't converting my wife's ID to Wealth. I had to speak to my RM couple of times and it took her almost 2 months to figure out that she will have to create family ID to link my wife's ID to mine and then upgrade. And after she (RM) did that, it took more than two weeks to confirm that it has been upgraded.

Since IDFC has started family banking off late so there are teething issues. I'll give you a personal example. I've a joint account with my wife. The 'Standard' account was opened with me a primary customer and converted to joint holders after 6 months. IDFC upgraded my Cust ID to Wealth Program few months back but weren't converting my wife's ID to Wealth. I had to speak to my RM couple of times and it took her almost 2 months to figure out that she will have to create family ID to link my wife's ID to mine and then upgrade. And after she (RM) did that, it took more than two weeks to confirm that it has been upgraded.

How much time it took to upgrade your wife's account after linking via group id

 

[Salvo08]

How much time it


How much time it took to upgrade your wife's account after linking via group id

Once the RM figured it out then I think about a week. But to get the Wealth DC for her took some time as I had to hotlist the existing card. Then on the net banking/App one can only replace the blocked card and cannot apply for upgrade. Had to physically apply for the same through the branch.

 

[Andy1]

okay thanks bro

Once the RM figured it out then I think about a week. But to get the Wealth DC for her took some time as I had to hotlist the existing card. Then on the net banking/App one can only replace the blocked card and cannot apply for upgrade. Had to physically apply for the same through the branch.

How did you get upgraded to wealth and are you maintaining any balance with them?

 

[Salvo08]

My account is a year and a half old. Opened as a standard account. Then thought about converting it to Wealth and so transferred money from other account to this one and sort of got busy with life. After about six months checked up with my RM and she informed that offer is there and she forgot to convey. So my migration to Wealth took 3-5 days after my consent. I’ve some money in the account but I can reduce to 25K AMB which is as per original terms and condition.

 

[CC-Muncher]

My account is a year and a half old. Opened as a standard account. Then thought about converting it to Wealth and so transferred money from other account to this one and sort of got busy with life. After about six months checked up with my RM and she informed that offer is there and she forgot to convey. So my migration to Wealth took 3-5 days after my consent. I’ve some money in the account but I can reduce to 25K AMB which is as per original terms and condition.

so no need to maintain 10lakh or anything post upgrade rit? they wont downgrade?

 

[Salvo08]

so no need to maintain 10lakh or anything post upgrade rit? they wont downgrade?

Ya, that's what my RM and their Customer Care told me. They will not downgrade, even other banks don't except AU which starts levying penalty.

 

[punitrai]

Mine took almost 2.5 month for family linking. However in my case we got the account converted to wealth varient and that was the reason why it took so much time.

Timeline was:
Discussed with RM on wealth varient conversion and family banking - 27(or end) of december

Primary account got converted to wealth - end of jan (RM was on leave, some personal issue to might have goten delayed due to that).

-2 accounts got added in family banking - after 20 days

Those 2 accounts upgraded to wealth varient - took another month

All in all it was a little less than 3 months to get everything done but again varient change took time due to internal conversion and approval.

Is there any consent required while adding an account in grouped banking? Like we have to do while upgrading to Relationship banking program.

 

[pgarg24]

Is there any consent required while adding an account in grouped banking? Like we have to do while upgrading to Relationship banking program.

Yeah idfc will send an sms with link on the registered mobile number for the account you want to add to family banking.. after you click on the link provided in that sms, you would have to give consent there.

 

[punitrai281]

I got this mail 3 days ago from some person at IDFC, I raised the request for grouping 2 months ago. Have you guys got similar email? How much more time it will take to upgrade the grouped account?

 

[iBabubhau]

My grouping request was processed in 2 weeks from the request I made to the RM. A few days after the request, I got an email like one above ^
In 10-12 days, my Wealth account status showed up in my family members accounts as well.

 

[2024]

Since IDFC has started family banking off late so there are teething issues. I'll give you a personal example. I've a joint account with my wife. The 'Standard' account was opened with me a primary customer and converted to joint holders after 6 months. IDFC upgraded my Cust ID to Wealth Program few months back but weren't converting my wife's ID to Wealth. I had to speak to my RM couple of times and it took her almost 2 months to figure out that she will have to create family ID to link my wife's ID to mine and then upgrade. And after she (RM) did that, it took more than two weeks to confirm that it has been upgraded.

Sir I ve wealth account with idfc, nw want to open account for my wife n minor child n group them under family banking, pl guide procedure

 

[Salvo08]

Sir I ve wealth account with idfc, nw want to open account for my wife n minor child n group them under family banking, pl guide procedure

Pl call your RM and get the account opened in your wife’s name and link it with your Wealth account. You can also convert your existing account to a ‘joint account’ and your wife can get the Wealth Debit Card.

 

[Deleted member 19066]

PRIMARY HOLDER CAN SEE FAMILY ACCOUNTS UNDER HIS ACCOUNT ?
@Salvo08 @nishitcs94 @pgarg24 @punitrai281

 

[Salvo08]

PRIMARY HOLDER CAN SEE FAMILY ACCOUNTS UNDER HIS ACCOUNT ?
@Salvo08 @nishitcs94 @pgarg24 @punitrai281

No.

 

[Deleted member 19066]

No.

Ok...Thanks Sir......

 

[Salvo08]

No.

In IDFC even the joint account holder can operate the account independently using his/her mob number.

 

[Deleted member 19066]

In IDFC even the joint account holder can operate the account independently using his/her mob number.

Ok..Sir.txxxxxxx