IDFC First Wealth Account eligibility requirement and benefits

[Quantum]

Hello,

IDFC website doesn't seem to list the eligibility criteria for opening an IDFC First Wealth Account.
From your recent first hand experience, could you please share the eligibility criteria?
Does the criteria need to be maintained throughout the lifetime of the Wealth account, similar to Axis Burgundy account, to avoid account downgrade?
Also, what credit cards one can expect or negotiate to get offered?
FYI, I'm not an existing IDFC customer.
Thanks!

 

[Random123]

Give him my number and I'll have a word with him

haha thanks but if you are really fine, please give number in DM.

 

[sadhunath]

Has IDFC changed the requirement for Select tier?

I raised a request after keeping 3L in my savings account for more than 3 months. My request was rejected and RM said the revised requirement is 10L for select and 75L for wealth.

 

[Cc_creditguy]

Has IDFC changed the requirement for Select tier?

I raised a request after keeping 3L in my savings account for more than 3 months. My request was rejected and RM said the revised requirement is 10L for select and 75L for wealth.

Try other branch bro

 

[sadhunath]

Try other branch bro

Will that help? The request was raised online and rejected by back-end.

 

[Cc_creditguy]

Will that help? The request was raised online and rejected by back-end.

No bro just close the acc open new acc now u can open direct wealth or select with ip while acc opening

 

[|V|]

Got my Wealth DC. The welcome letter says something about welcome benefit.
Earn 1000 Rewards points on first transaction of 1000 rs. Any idea which all category is accepted on this welcome benefit ?

 

[Piyush_Jaiswal]

Got my Wealth DC. The welcome letter says something about welcome benefit.
Earn 1000 Rewards points on first transaction of 1000 rs. Any idea which all category is accepted on this welcome benefit ?

It must be 8000 points equivalent to Rs 2000.

It excludes some MCC which inclues wallet, cc bill payment, insurance, etc. This exclusion is applicable on all transaction and not only first transaction to get reward points.

 

[AllThatStuff]

not only your RM, any other branch executive can do the same. So, try if you want to.

But why not just get Select? if you get now, can use in May month itself, then in June try again for Wealth. I dont think there is cool off period but please do your own research.
@Chitra007

What is IP criteria for directly opening a new Select account??
For how many days do we need to maintain the IP amount??

 

[sm9811911]

What is IP criteria for directly opening a new Select account??
For how many days do we need to maintain the IP amount??

3L is what i heard. You can remove after upgradation

 

[AllThatStuff]

3L is what i heard. You can remove after upgradation

Since opening of account to upgrading…how many days in may take…tentatively??

 

[sm9811911]

Since opening of account to upgrading…how many days in may take…tentatively??

1 - 3 weeks average

 

[|V|]

It must be 8000 points equivalent to Rs 2000.

It excludes some MCC which inclues wallet, cc bill payment, insurance, etc. This exclusion is applicable on all transaction and not only first transaction to get reward points.

Here is the exact word it said :

• Complimentary first wealth debit card with premium benefits and welcome reward points on first transaction of 1000 or more.

What does this mean ?

 

[Rahul Gupta]

Here is the exact word it said :

• Complimentary first wealth debit card with premium benefits and welcome reward points on first transaction of 1000 or more.

What does this mean ?

It means you will get first wealth dc with 8k welcome points on transaction of 1k or above.

 

[tarunrana238]

I know someone will ask this question, and hence documented the ss of 0 MAB .. see in one of my posts..

how can I connect to your VRM .I would like to speak with him. Also, I don't have any RM assigned to me yet

 

[SSV]

how can I connect to your VRM .I would like to speak with him. Also, I don't have any RM assigned to me yet

Many VRMs were changed since then .. the current VRM is not that helpful..

Anyway forget about IDFC welath now. either DC or CC.. they are almost equivalent to garbage...in my view...

 

[tarunrana238]

okay , my RM who did this was a virtual RM from Mumbai. Please check your DM , I will send his contact

Its actually inverse ..

Upgrade to Wealth CC is really tough ..

Can you dm your VRM details?

 

[SSV]

Can you dm your VRM details?

Done.. pls chk

 

[AllThatStuff]

1 - 3 weeks average

I spoke with my nearby branch for IDFC Select a/c....initially they offered Select a/c with 3L IP and maintain it for min. 3-6 months for upgrade to Select !!
After negotiations I brought it to 1 week after a/c opening....on top of that, 1L can be drawn next day of a/c opening !!

Now, my query is that after Select upgrade, can we withdraw complete amount (A/c balance NIL) or we have to maintain amount as per original a/c MAB of 10k / 25k ??

 

[Piyush_Jaiswal]

Now, my query is that after Select upgrade, can we withdraw complete amount (A/c balance NIL) or we have to maintain amount as per original a/c MAB of 10k / 25k ??

It has NO non maintenance charges. But you should maintain 10/25k 😅

 

[sm9811911]

It has NO non maintenance charges. But you should maintain 10/25k 😅

I spoke with my nearby branch for IDFC Select a/c....initially they offered Select a/c with 3L IP and maintain it for min. 3-6 months for upgrade to Select !!
After negotiations I brought it to 1 week after a/c opening....on top of that, 1L can be drawn next day of a/c opening !!

Now, my query is that after Select upgrade, can we withdraw complete amount (A/c balance NIL) or we have to maintain amount as per original a/c MAB of 10k / 25k ??

They will send a warning mail to maintain mab after few months and then if you don't maintain they will charge.