IDFC Wealth / Select Bank account not possible anymore with IP

[sparkit]

Last Month I have enquired IDFC branch near me about Select/ Wealth program.
They told me they need 3L/ 10L respectively. And then I negotiated for Wealth account with 5 Lakh IP.

And today when I went to the same branch to create Wealth account with 5 Lakh IP, They told me that very recently their app is updated and cannot directly open Wealth/ select account. I have to maintain atleast for 1 month and then they will raise the request.

They also confirmed it again by showing the app itself.

And the guy told me, he have already mailed their higher officials about this and will tell me if anything possible to open directly.

Anyone opened wealth/select through IP very recently?

 

[Vasuki]

Last Month I have enquired IDFC branch near me about Select/ Wealth program.
They told me they need 3L/ 10L respectively. And then I negotiated for Wealth account with 5 Lakh IP.

And today when I went to the same branch to create Wealth account with 5 Lakh IP, They told me that very recently their app is updated and cannot directly open Wealth/ select account. I have to maintain atleast for 1 month and then they will raise the request.

They also confirmed it again by showing the app itself.

And the guy told me, he have already mailed their higher officials about this and will tell me if anything possible to open directly.

Anyone opened wealth/select through IP very recently?

Select is possible at 3
But for new or old
U need 10 lakh in account for wealth

 

[sparkit]

Select is possible at 3
But for new or old
U need 10 lakh in account for wealth

The banking guy told me another trick, if we invest 50k in mutual funds through IDFC, then that will count as 20x and within 1 or 2 months we get update for wealth.
He also told me that this is how the bank employees do to get wealth account.

 

[Vasuki]

The banking guy told me another trick, if we invest 50k in mutual funds through IDFC, then that will count as 20x and within 1 or 2 months we get update for wealth.
He also told me that this is how the bank employees do to get wealth account.

Holy F**k dude that's great

 

[Wealth is my birth right!]

10l ip instant wealth thats what my branch said

 

[Ak Singh]

Last Month I have enquired IDFC branch near me about Select/ Wealth program.
They told me they need 3L/ 10L respectively. And then I negotiated for Wealth account with 5 Lakh IP.

And today when I went to the same branch to create Wealth account with 5 Lakh IP, They told me that very recently their app is updated and cannot directly open Wealth/ select account. I have to maintain atleast for 1 month and then they will raise the request.

They also confirmed it again by showing the app itself.

And the guy told me, he have already mailed their higher officials about this and will tell me if anything possible to open directly.

Anyone opened wealth/select through IP very recently?

Maybe they don't want to open wealth with IP of 5 lakh.
Btw you can directly open with 10 lakh IP.
WHY you want invest in mutual fund for wealth account.
At this market is all time high and not good time to invest.

 

[keerthirahul123]

The banking guy told me another trick, if we invest 50k in mutual funds through IDFC, then that will count as 20x and within 1 or 2 months we get update for wealth.
He also told me that this is how the bank employees do to get wealth account.

Anything that this guy could help others as well ? or is it limited to local branches ?

 

[Rdspam]

The banking guy told me another trick, if we invest 50k in mutual funds through IDFC, then that will count as 20x and within 1 or 2 months we get update for wealth.
He also told me that this is how the bank employees do to get wealth account.

This is BS info, they’re just trying to get commissions off you in the name of upgrade and believe me IDFC Select, Wealth or even Private does not offer any such jaw dropping feature compared to regular account that you should sacrifice your direct mutual funds for regular mutual funds

 

[sparkit]

Maybe they don't want to open wealth with IP of 5 lakh.
Btw you can directly open with 10 lakh IP.
WHY you want invest in mutual fund for wealth account.
At this market is all time high and not good time to invest.

No no, I am not going to invest. I was just telling what the guy said here.

Also recently their app is updated and they don't have the option to open wealth account directly with 10 L IP. So we have to maintain it for 1 month.

He told me he will find whether opening through offline mode can get wealth account.

Wil update it here.

 

[Ak Singh]

No no, I am not going to invest. I was just telling what the guy said here.

Also recently their app is updated and they don't have the option to open wealth account directly with 10 L IP. So we have to maintain it for 1 month.

He told me he will find whether opening through offline mode can get wealth account.

Wil update it here.

You can't open wealth directly irrespective of IP.
If you want wealth account they will open first normal account then they will upgrade to wealth, afaik.

 

[sparkit]

This is BS info, they’re just trying to get commissions off you in the name of upgrade and believe me IDFC Select, Wealth or even Private does not offer any such jaw dropping feature compared to regular account that you should sacrifice your direct mutual funds for regular mutual funds

If you know any other bank that pays 2.5% rewards for credit card bills do let me know here.
RBL EDC can give you 5% but only upto 20k.
I have sometimes monthly credit card payment of 2- 3 lakhs. Which will give me 7500!
Other than this there is really no Jaw dropping feature.

 

[Vasuki]

No no, I am not going to invest. I was just telling what the guy said here.

Also recently their app is updated and they don't have the option to open wealth account directly with 10 L IP. So we have to maintain it for 1 month.

He told me he will find whether opening through offline mode can get wealth account.

Wil update it here.

No
You can open account and fund 10 lakh to upgrade in few days

Earlier it was if u gonna fund 10 lakh as IP u didn't had to wait .it could just open as Wealth

 

[sparkit]

You can't open wealth directly irrespective of IP.
If you want wealth account they will open first normal account then they will upgrade to wealth, afaik.

No, previously there is a feature in the app to select the banking program wealth / select. Now they have removed it.

 

[sadhunath]

If you know any other bank that pays 2.5% rewards for credit card bills do let me know here.

How do you do this? Is it like HDFC Plat Debit Card?

 

[sparkit]

How do you do this? Is it like HDFC Plat Debit Card?

Yes, we can pay through Unipay or where the MCC is Utility.
You can read more about different cards and their payment platform here

 

[Rdspam]

If you know any other bank that pays 2.5% rewards for credit card bills do let me know here.
RBL EDC can give you 5% but only upto 20k.
I have sometimes monthly credit card payment of 2- 3 lakhs. Which will give me 7500!
Other than this there is really no Jaw dropping feature.

You are sacrificing with higher expense ratio on mutual funds so you need to subtract that from the 2.5% rewards and then see if it’s still more than what RBL cards give or even IDFC’s regular debit card. This isn’t even considering the fact that IDFC may stop rewards on utility payments or just freeze your rewards account altogether like they have done in the past.

 

[sparkit]

Last Month I have enquired IDFC branch near me about Select/ Wealth program.
They told me they need 3L/ 10L respectively. And then I negotiated for Wealth account with 5 Lakh IP.

And today when I went to the same branch to create Wealth account with 5 Lakh IP, They told me that very recently their app is updated and cannot directly open Wealth/ select account. I have to maintain atleast for 1 month and then they will raise the request.

They also confirmed it again by showing the app itself.

And the guy told me, he have already mailed their higher officials about this and will tell me if anything possible to open directly.

Anyone opened wealth/select through IP very recently?

Guys,
I escalated this to the customer care through twitter. And they contacted the branch.
The branch contacted me on the same day and they came to my home to complete the account opening form and collected the IP of 3 lakhs for the select account.
They told me they will process through offline mode. So it took almost 3 working days for the account to open. And now I see in the app with the debit card as IDFC select. Will be dispatched soon.
So no need to wait 1-3 months!

 

[Aniket]

Guys,
I escalated this to the customer care through twitter. And they contacted the branch.
The branch contacted me on the same day and they came to my home to complete the account opening form and collected the IP of 3 lakhs for the select account.
They told me they will process through offline mode. So it took almost 3 working days for the account to open. And now I see in the app with the debit card as IDFC select. Will be dispatched soon.
So no need to wait 1-3 months!

They were just lying earlier. 🤭

Good you got it through X.
Congratulations 👏

 

[Hemang]

Guys,
I escalated this to the customer care through twitter. And they contacted the branch.
The branch contacted me on the same day and they came to my home to complete the account opening form and collected the IP of 3 lakhs for the select account.
They told me they will process through offline mode. So it took almost 3 working days for the account to open. And now I see in the app with the debit card as IDFC select. Will be dispatched soon.
So no need to wait 1-3 months!

bhai after opening account kitna maintain krna hai balance ?

 

[sparkit]

bhai after opening account kitna maintain krna hai balance ?

I am planning to maintain 5L+ here for few months. But some say we don’t need to maintain anything. Until the branch or RM takes a step to downgrade , it will be continued with the same.