Jupiter - Refusing account closure due to POT account freeze, even though savings account is active.

[its_karan]

I have already escalated this issue with RBI

Raise at BO website

Attach all mails with Jupiter

Tagging CRPC in mail is not enough

But they've something called a "POT" account which is frozen.

This pot freeze is a trick used by them for retaining the customer

Should I be writing to Jupiter or Federal Bank?

Federal

To help you further:

Demo Mail content:

I have an account with Federal Bank, sourced through Jupiter Neo Bank. Jupiter and Federal Bank are not allowing me to close my account. The bank is located 50 km away and is forcing me to visit in person to close my account. Furthermore, they mention that my account has gone dormant. However, according to the REKYC guidelines by RBI, REKYC can be done online if needed. But the bank is forcing me to do offline KYC just to close the account. Additionally, to my concern, the bank is still showing the KYC as active in updated records.

RBI Notification on ReKYC can be done Online:
Link:

 

[Batman]

Raise at BO website

Attach all mails with Jupiter

Tagging CRPC in mail is not enough

Federal

To help you further:

Demo Mail content:

I have an account with Federal Bank, sourced through Jupiter Neo Bank. Jupiter and Federal Bank are not allowing me to close my account. The bank is located 50 km away and is forcing me to visit in person to close my account. Furthermore, they mention that my account has gone dormant. However, according to the REKYC guidelines by RBI, REKYC can be done online if needed. But the bank is forcing me to do offline KYC just to close the account. Additionally, to my concern, the bank is still showing the KYC as active in updated records.

RBI Notification on ReKYC can be done Online:
Link:

🙏🏽
You've given me a lot of valuable information to use. Thank you.

 

[praful47]

Raise at BO website

Attach all mails with Jupiter

Tagging CRPC in mail is not enough

Federal

To help you further:

Demo Mail content:

I have an account with Federal Bank, sourced through Jupiter Neo Bank. Jupiter and Federal Bank are not allowing me to close my account. The bank is located 50 km away and is forcing me to visit in person to close my account. Furthermore, they mention that my account has gone dormant. However, according to the REKYC guidelines by RBI, REKYC can be done online if needed. But the bank is forcing me to do offline KYC just to close the account. Additionally, to my concern, the bank is still showing the KYC as active in updated records.

RBI Notification on ReKYC can be done Online:
Link:

I need strong evidence to support my complaint.
I need a proof where jupiter has clearly mentioned that account would be lifetime zero balance and debit card would be lifetime free.

I have not received response from crpc till now .
Your help would really be appreciated.

 

[Batman]

I need strong evidence to support my complaint.
I need a proof where jupiter has clearly mentioned that account would be lifetime zero balance and debit card would be lifetime free.

I have not received response from crpc till now .
Your help would really be appreciated.

I could be wrong, but I think the debit card was First year free only.

I'm a beta customer, meaning that I was among the first 1000 customers that joined Jupiter. I got rewarded handsomely. But free debit card was never in the picture. That's why I never ordered a physical debit card.

Once again, I could be wrong. Memory is a fickle thing.

 

[praful47]

I could be wrong, but I think the debit card was First year free only.

I'm a beta customer, meaning that I was among the first 1000 customers that joined Jupiter. I got rewarded handsomely. But free debit card was never in the picture. That's why I never ordered a physical debit card.

Once again, I could be wrong. Memory is a fickle thing.

Chat support also confirmed that it was LTF in 2022

 

[Tejo]

Chat support also confirmed that it was LTF in 2022

Day by day financial institutions were misusing the terms lifetime free, pre-approved etc.

 

[Batman]

Chat support also confirmed that it was LTF in 2022

This is perfect. Complaint to RBI. Good luck.

 

[praful47]

This is perfect. Complaint to RBI. Good luck.

Chat support conversation

 

[Tejo]

Chat support conversation

No use in complaining same to RBI BO

But can sue via judiciary....

 

[Batman]

Chat support conversation

Yeah this is good enough. Try to get the same reply from Jupiter in email so that it is easier for Ombudsman to read and validate.

If they said LTF, it has to be LTF. No matter their policy changes later on. If they want to change LTF to paid, they need consent from user.

 

[Batman]

No use in complaining same to RBI BO

But can sue via judiciary....

Why though? Shouldn't this be good enough?

 

[praful47]

Yeah this is good enough. Try to get the same reply from Jupiter in email so that it is easier for Ombudsman to read and validate.

If they said LTF, it has to be LTF. No matter their policy changes later on. If they want to change LTF to paid, they need consent from user.

They will not admit in email .
I have ticket I'd of this conversation

 

[NOOBY]

I need strong evidence to support my complaint.
I need a proof where jupiter has clearly mentioned that account would be lifetime zero balance and debit card would be lifetime free.

I would like to take a different view on this...

You are correct about the re-kyc thing and you can raise RBI BO complaint about physical KYC for non-savings account related item for closing savings account. You can ask for compensation for this issue.

But regarding DC charges and MAB, have you heard of MITC ?

All banks clearly mention that they can change terms/conditions/features/product (basically anything) as per changes in their business model. So, they can simply say that while opening account, you had accepted the terms and conditions and RBI (or even court) won't be able to do anything.

 

[Tejo]

Why though? Shouldn't this be good enough?

........ ... .

All banks clearly mention that they can change terms/conditions/features/product (basically anything) as per changes in their business model. So, they can simply say that while opening account, you had accepted the terms and conditions and RBI (or even court) won't be able to do anything.

 

[doraemon]

Remember banks operates in market because we people fund them .
If they will loot people in the name of business model or industrial policies and other fancy terms then they will not remain in the market for long .

If they will go bankrupt then people will say " Le MITC or Fair industry practice dal le jaha dalna hai "

Whether they will go kaput or not is not our concern here in this case


I agree with @NOOBY
See u can always raise complaint with rbi
But bank in this case has many evidences and I am certain that they will most prob close the case under non appeal clause

It's pure wastage of efforts my friend


I hope u will prove me wrong

 

[praful47]

Whether they will go kaput or not is not our concern here in this case


I agree with @NOOBY
See u can always raise complaint with rbi
But bank in this case has many evidences and I am certain that they will most prob close the case under non appeal clause

It's pure wastage of efforts my friend


I hope u will prove me wrong

No no not at all I am agreeing with all of you ..
Infact you all are more experienced than me .
I am just trying to see what bank and RBI has to say about it .

 

[doraemon]

No no not at all I am agreeing with all of you ..
Infact you all are more experienced than me .
I am just trying to see what bank and RBI has to say about it .

More power to you
Keep us updated

 

[runzone]

Maine toh bank me jaake Kyc documents bhi submit kardi 1 mahine pehle lekin abhi tak koi update nahi mila, 15k mere pots account me atke pade hai

RBI Ombudsman me complaint kiya hua hai lekin pata nahi kitna time lagega

 

[Batman]

Maine toh bank me jaake Kyc documents bhi submit kardi 1 mahine pehle lekin abhi tak koi update nahi mila, 15k mere pots account me atke pade hai

RBI Ombudsman me complaint kiya hua hai lekin pata nahi kitna time lagega

Oh bhai sahab, this is bad. I have mere Rs 11 in Pots. It was Rs 1 but I tried to add Rs 10 last week and it worked.

They still wouldn't let me close my account 🤷‍♀️

 

[doraemon]

Oh bhai sahab, this is bad. I have mere Rs 11 in Pots. It was Rs 1 but I tried to add Rs 10 last week and it worked.

They still wouldn't let me close my account 🤷‍♀️

Load money into wallet using their virtual card
For 5 lac rotation u will get 1k cash