Bro need to learn, what to edit and what not
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One Edited PDF, Three Banks, and a Life-Changing Lesson
- Thread starter TechnoFino
- Start date
- Featured
- Replies 54
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True
IDFC First somehow want to give away as many cards as possible within the shortest period of time and they don't care what customers fill in. If they don't care all these, who else has a problem?
In my case the application was filled by an idfc credit card manager himself and he told me he is just putting as 3L and tell that during vkyc.
Riya
TF Legend
Desperation in young age can lead to great disasters for future...
I hope he learned the lesson soon and in a very polite manner...
Otherwise any legal action could have led to magnanimous loss of time, money and mind.
Riya
TF Legend
IDFC would have allowed because they themselves consult other banks for such issues....
if your bank letterhead is used in a forged document then it could lead to a bad name for bank too
Riya
TF Legend
But in every case the small fish will be out of water. And grasp for oxygen. No way out.
Bro, why do you think you always know everything?
Suppose you are a bank, and a client comes to you for a loan of XYZ based on his salary account maintained with another bank. Won’t you first verify with that bank whether he is actually receiving a salary, and only then approve the loan?
Do you even realize that while applying for a limit increase, a new credit card, or a loan, you tick multiple checkboxes and e-sign using an OTP? Do you know what those checkboxes contain? That’s the consent you’ve given.
dexter_greycells
TF Premier
Credit to the OP for putting up a post like this which recommends being ethical on our part.
Ever since I got on TF a couple of years ago, I have seen an unnerving amount of people on TF trying to game or cheat the banks for getting XYZ card (invariably it is Infinia) or getting a credit limit increase (which again ties into getting the XYZ card). Their justifications include "All banks are crooks", "They are making millions", "They have no problem lending money to Mallya", "That person on Insta with XYZ card is a student and doesn't even earn", "The bank is not being transparent", "This is discrimination" etc.
Initially, even I used to think that the banks' lack of transparency on rejections was not right. After seeing the sense of entitlement on TF and the extents to which people are willing to go to, I understand why banks do that. The moment they list down the exact T&C or reasons for rejection people will figure out ways (i.e. do "jugaad") to meet that T&C and then "demand" the XYZ card as if it is their birthright.
From the personal experiences of me and my friends's financial journies (we are in our 30s and 40s), I can say that banks will gradually increase your credit limit and provide better card offerings as your salary and investments with the bank keep growing organically. This takes years and unfortunately nowadays a lot of people want everything "by yesterday".
Ever since I got on TF a couple of years ago, I have seen an unnerving amount of people on TF trying to game or cheat the banks for getting XYZ card (invariably it is Infinia) or getting a credit limit increase (which again ties into getting the XYZ card). Their justifications include "All banks are crooks", "They are making millions", "They have no problem lending money to Mallya", "That person on Insta with XYZ card is a student and doesn't even earn", "The bank is not being transparent", "This is discrimination" etc.
Initially, even I used to think that the banks' lack of transparency on rejections was not right. After seeing the sense of entitlement on TF and the extents to which people are willing to go to, I understand why banks do that. The moment they list down the exact T&C or reasons for rejection people will figure out ways (i.e. do "jugaad") to meet that T&C and then "demand" the XYZ card as if it is their birthright.
From the personal experiences of me and my friends's financial journies (we are in our 30s and 40s), I can say that banks will gradually increase your credit limit and provide better card offerings as your salary and investments with the bank keep growing organically. This takes years and unfortunately nowadays a lot of people want everything "by yesterday".
Guys… let me share a real story about the verification process, because some members believe that HDFC Bank should not be allowed to verify documents with IDFC First Bank.
First of all... this is completely allowed and absolutely normal.
Why it’s allowed:
1. IDFC First Bank issued the document you submitted.
2. HDFC Bank is the lender for the credit card / loan / LE you applied for.
3. You have signed the T&C, which clearly gives your consent to HDFC Bank to verify your submitted data from the source.
So yes... source verification is legal, ethical, and standard banking practice.
Now, let me tell you how this works in the USA, so you understand how normal this actually is.
One of my friends applied for an American Express credit card in the USA.
He was asked to submit address proof, and he provided his Capital One bank account statement.
After that, Amex emailed him and asked him to call customer care.
When he called Amex US customer support, here’s what happened:
The Amex executive (from the new card member team) called Capital One Bank, the branch where my friend held the account.
With my friend’s consent, the Amex executive merged the call.
So now, three people were on the same call:
My friend
Amex executive
Capital One branch employee
The Amex executive directly asked Capital One:
Do you have a customer with this name and this account number?
The Capital One employee verified that the details were correct.
That’s it.
The Amex executive processed the application further and the card was approved within 30 seconds.
Banks do not blindly trust documents.
They verify from the source and that’s how it should be.
If you’re submitting genuine documents, there’s absolutely nothing to worry about.
This isn’t harassment.
This isn’t overreach.
This is standard global banking practice.
First of all... this is completely allowed and absolutely normal.
Why it’s allowed:
1. IDFC First Bank issued the document you submitted.
2. HDFC Bank is the lender for the credit card / loan / LE you applied for.
3. You have signed the T&C, which clearly gives your consent to HDFC Bank to verify your submitted data from the source.
So yes... source verification is legal, ethical, and standard banking practice.
Now, let me tell you how this works in the USA, so you understand how normal this actually is.
One of my friends applied for an American Express credit card in the USA.
He was asked to submit address proof, and he provided his Capital One bank account statement.
After that, Amex emailed him and asked him to call customer care.
When he called Amex US customer support, here’s what happened:
The Amex executive (from the new card member team) called Capital One Bank, the branch where my friend held the account.
With my friend’s consent, the Amex executive merged the call.
So now, three people were on the same call:
My friend
Amex executive
Capital One branch employee
The Amex executive directly asked Capital One:
Do you have a customer with this name and this account number?
The Capital One employee verified that the details were correct.
That’s it.
The Amex executive processed the application further and the card was approved within 30 seconds.
Banks do not blindly trust documents.
They verify from the source and that’s how it should be.
If you’re submitting genuine documents, there’s absolutely nothing to worry about.
This isn’t harassment.
This isn’t overreach.
This is standard global banking practice.
Dada isko idhar bhi implement karao on the spot. Direct Call and case closed.
This is the also a very worrying part in the post !!!
One of them has audacity to ask transactions for credit card points and other has to increase AMB to 50k for Savings Account with pathetic quality of service.
And thennnn when it comes to credit cards and documents (which in one way is the CORE of banking - after all Banking is the money lending business) - they have gross negligence towards it. WOWWWWWW!!! 👏👏
@TechnoFino - I believe IDFC First Bank also has the right to take legal action because it's name, logo and other legal idenitities are used in the forged document, which impacts it's goodwill in the banking sector. What's your thought on this?
I understand that Bank has right to cross verify all our documents.
I wanted to know how is the scrutiny done . Is there any suspicious activity on the card or did the bank AI/internal system trigger fraud transaction ID
Is there any indication that bank will checkout all the documents again or is it regular audit or surprise audit that flag these kind of card/accounts?
I wanted to know how is the scrutiny done . Is there any suspicious activity on the card or did the bank AI/internal system trigger fraud transaction ID
Is there any indication that bank will checkout all the documents again or is it regular audit or surprise audit that flag these kind of card/accounts?
Everyone here can only speculate including me, but only guys dealing with it can answer to point.
IMO, for loan, they verify for all. For L.E, it's random luck based.
Mind you, AI and all have came recently. But we always used to hear such cases, usually when bank's file complaint against accused.
