1 month, 3 months, or few days, all of these are just situational responses (rules) thrown by the IDFC folks.
Even the one that I'm going to share is just there to get bypassed in certain cases.
What does your Average Monthly Balance show in the IDFC app/website?
Once it starts showing anything greater than 5L, you could talk to you RM to start the upgrade process. If they deny or give some excuses, get back to this thread. We will fix that.
It is 3rd May today. If you transfer enough funds, it would start showing Average Monthly Balance around10L in next few days.
As part of upgrade process, this is what RM does:
1) Open a ticket to upgrade your account to Wealth.
2) Get the consent from the customer for upgrade, via a link.
3) After taking consent from the customer, get an approval from someone working in the capacity of branch head.
4) Once the branch head approves, the Wealth DC is generated and it starts reflecting in the app/website.
5) You get your Wealth DC kit in 5 days depending upon your PIN code.
6) As soon as you activate your new Wealth DC, the old DC would get deactivated and removed from your account.
After you get your Wealth DC and the account starts reflecting as IDFC Wealth logo in the app/website, you could withdraw all the funds except the minimum balance criteria of your base account i.e. if it was 25k MAB savings account, then you need to maintain only that.
It's just that don't tell any IDFC employee you are interacting with that you will withdraw all the funds.
After the upgrade, you could upgrade your RM too. 😉
There are different RMs for IDFC Wealth program (RM First Wealth, shown under "My relationship team" in the app.
