What Is The Criteria In IDFC Bank For Family Banking?

[BankExpertIndia]

Dear Community Members

I Am Thinking To Open Account In IDFC Bank... So I Wanted To Know The Minimum And The Maximum MAB For Accounts In A Family Group.

Experts Do Share Your Knowledge
@TechnoFino

 

[Deleted member 19066]

RM will initiate the process and you will receive the link for consent..
Omce grouping is created you will receive a mail as well.

thanks sir.....

 

[karankayastha]

Yes I mentioned about this T&C as well but they replied it is not yet enabled by the bank. Not sure if anyone managed to get Family Group created in IDFC from this forum.

Hey did you manage to Get it open My RM is also saying the same thing that Family Grouping is not yet open in the branch still i am pushing him to fast track it

 

[Rishabh]

Hey did you manage to Get it open My RM is also saying the same thing that Family Grouping is not yet open in the branch still i am pushing him to fast track it

My branch manager helped in grouping all the 3 accounts under one Family with Wealth relationship.

 

[karankayastha]

My branch manager helped in grouping all the 3 accounts under one Family with Wealth relationship.

Ohh you went to BM directly ok i will try that how long does it take to group?

 

[Deleted member 19066]

Ohh you went to BM directly ok i will try that how long does it take to group?

Just 3 Days... Even sometimes 1 or 2 days

 

[SpiesCan'tCatchMe]

Just 3 Days... Even sometimes 1 or 2 days

Can we link future first account holder into family banking and make it wealth or select

 

[karankayastha]

Just 3 Days... Even sometimes 1 or 2 days

Ok since a month i am telling my RM to group he says he has to look for the process to group & inform me still he hasn't if he doesn't then i have to go to the BM

 

[Calm Radiance]

I'm a novice in family group banking, can anyone kindly share the benefit? I understand that if you're already having IDFC select savings account, other family members can also get in the same program.

However,
Can anyone highlight if in a family, if there is 3 separate IDFC savings account and later 1 person gets an upgrade to IDFC select savings account and gives consent to include other account in IDFC family banking?
1) will account number get changed and all members will have same account number later?
2) will each account get upgraded to IDFC select and each account will have 5 lakh insured as per RBI guidelines.

Also, is there any hidden conditions one should be aware?

Thanks.

 

[gamersgzb]

I'm a novice in family group banking, can anyone kindly share the benefit? I understand that if you're already having IDFC select savings account, other family members can also get in the same program.

However,
Can anyone highlight if in a family, if there is 3 separate IDFC savings account and later 1 person gets an upgrade to IDFC select savings account and gives consent to include other account in IDFC family banking?
1) will account number get changed and all members will have same account number later?
2) will each account get upgraded to IDFC select and each account will have 5 lakh insured as per RBI guidelines.

Also, is there any hidden conditions one should be aware?

Thanks.

Account number will be as it is... Will not be changed. Only account variant will be changed at per highest primary holder
5 lakh RBI thing is separate for each account.

 

[Calm Radiance]

Account number will be as it is... Will not be changed. Only account variant will be changed at per highest primary holder
5 lakh RBI thing is separate for each account.

Thanks for the quick response,

Saw several threads in TF stating select is given for 3 lakhs AMB, however my RM called and stated 25K shall be the AMB for me, I've asked him to confirm me on mail, should one believe or its a gimmick?
Thanks.

 

[gamersgzb]

Thanks for the quick response,

Saw several threads in TF stating select is given for 3 lakhs AMB, however my RM called and stated 25K shall be the AMB for me, I've asked him to confirm me on mail, should one believe or its a gimmick?
Thanks.

Amb will be 25k but usually they make it select when you maintain 2-3 lakh balance... Else it will be lower variant account

 

[Darthvader]

I have a Corporate Salary account so did family grouping of 3 members effective its 0 balance account for all.

 

[Survivor35]

I have a Corporate Salary account so did family grouping of 3 members effective its 0 balance account for all.

are you being charged for debit card?

 

[Darthvader]

are you being charged for debit card?

I am on First Select banking, so its currently free for me. Even if they charge just raise a service request they will reverse. I have a good rapo here with my manager.

https://www.idfcfirstbank.com/personal-banking/accounts/savings-account/fees-and-charges

Debit Card Services are free currently.

 

[Calm Radiance]

are you being charged for debit card?

No charges for salary account, moreover IDFC does not charge for debit card for normal savings account. I had salary account in IDFC.

 

[Survivor35]

I am on First Select banking, so its currently free for me. Even if they charge just raise a service request they will reverse. I have a good rapo here with my manager.

https://www.idfcfirstbank.com/personal-banking/accounts/savings-account/fees-and-charges

Debit Card Services are free currently.

Cool.im aiming for idfc wealth cc/dc

 

[quino]

Can we link future first account holder into family banking and make it wealth or select

yes, the ff, 10k, 25k are account variants. first select/wealth is a programme/scheme that an account can be added to/removed from, but the account variant remains the same.

 

[Rishabh]

Ohh you went to BM directly ok i will try that how long does it take to group?

On the same day itself, requested via Whatsapp chat

 

[karankayastha]

On the same day itself, requested via Whatsapp chat

Awesome mate how did you get the contact of BM is it visible in the App?

 

[Rishabh]

Awesome mate how did you get the contact of BM is it visible in the App?

Just visit the branch once, meet him directly. Or else ask RM to get email or mobile details of BM.