Need advice on MAB for Kotak & IDFC.

[himalaya2]

Hello everyone,

I have bank accounts with Kotak & IDFC, I have other two bank accounts one with HDFC Bank which is my salary account. ICICI was my previous salary account.

I have to maintain 10k monthly balance with Kotak & IDFC. I don’t want to do that anymore. I want to downgrade my account with IDFC to 0 Balance account and close my Kotak account.

Should I take out all my money from Kotak bank account and leave it dormant? Or go to the branch and ask them to close my account.

With IDFC should I do the same thing and contact bank?

 

[Shubham Yadav]

Hello everyone,

I have bank accounts with Kotak & IDFC, I have other two bank accounts one with HDFC Bank which is my salary account. ICICI was my previous salary account.

I have to maintain 10k monthly balance with Kotak & IDFC. I don’t want to do that anymore. I want to downgrade my account with IDFC to 0 Balance account and close my Kotak account.

Should I take out all my money from Kotak bank account and leave it dormant? Or go to the branch and ask them to close my account.

With IDFC should I do the same thing and contact bank?

Take money out of your account and submit the application of closure

 

[Tejo]

Hello everyone,

I have bank accounts with Kotak & IDFC, I have other two bank accounts one with HDFC Bank which is my salary account. ICICI was my previous salary account.

I have to maintain 10k monthly balance with Kotak & IDFC. I don’t want to do that anymore. I want to downgrade my account with IDFC to 0 Balance account and close my Kotak account.

Should I take out all my money from Kotak bank account and leave it dormant? Or go to the branch and ask them to close my account.

With IDFC should I do the same thing and contact bank?

does idfc allows downgrade?

i think the features of zero charges, not applicable for bsbd.

 

[AritraSaha]

Hello everyone,

I have bank accounts with Kotak & IDFC, I have other two bank accounts one with HDFC Bank which is my salary account. ICICI was my previous salary account.

I have to maintain 10k monthly balance with Kotak & IDFC. I don’t want to do that anymore. I want to downgrade my account with IDFC to 0 Balance account and close my Kotak account.

Should I take out all my money from Kotak bank account and leave it dormant? Or go to the branch and ask them to close my account.

With IDFC should I do the same thing and contact bank?

Idfc will not turn your account to 0 balance bsbda
There is another zero balance account in idfc called "future first" you are under 35, you can easily open that account...

For kotak, go to the branch and asked them to close the account, they might give you a zero balance account...

 

[shan]

Kotak has an account called Solo. It is zero MAB account.

 

[saucy]

For Kotak you may file an application to close.
As per my understanding - with IDFC if you leave it with 0 balance - they won't charge you AMB charges, but they will charge you for all other services - including using debit card.
Pls confirm once on the website.

 

[Tejo]

Idfc will not turn your account to 0 balance bsbda
There is another zero balance account in idfc called "future first" you are under 35, you can easily open that account...

For kotak, go to the branch and asked them to close the account, they might give you a zero balance account...

My nearby branch denied, I wish to take because of zero nach charges.

They told we give if you have credit card or certain fd or home loan ..

 

[AritraSaha]

My nearby branch denied, I wish to take because of zero nach charges.

They told we give if you have credit card or certain fd or home loan ..

Then close the account, after sometime try to open 811...

 

[himalaya2]

Then close the account, after sometime try to open 811...

The account is 811 Edge, while opening the account he said he will convert it into zero balance after few days. I came to know he wanted to open my demat account.

I think I have to downgrade the account then…

 

[AritraSaha]

The account is 811 Edge, while opening the account he said he will convert it into zero balance after few days. I came to know he wanted to open my demat account.

I think I have to downgrade the account then…

The saleman made you ..
This edge account have 10k mab..

If you have any proof, complaint against him..

 

[himalaya2]

The saleman made you ..
This edge account have 10k mab..

If you have any proof, complaint against him..

Yep he a fool of me…

I realised some days later, I don’t have any proof against him. I wanted to open 811 only, but he opened Edge.

Without the proof I don’t think I can do anything.

 

[himalaya2]

For Kotak you may file an application to close.
As per my understanding - with IDFC if you leave it with 0 balance - they won't charge you AMB charges, but they will charge you for all other services - including using debit card.
Pls confirm once on the website.

Is this true? Can anybody confirm?