IDFC First Wealth Account eligibility requirement and benefits

[Quantum]

Hello,

IDFC website doesn't seem to list the eligibility criteria for opening an IDFC First Wealth Account.
From your recent first hand experience, could you please share the eligibility criteria?
Does the criteria need to be maintained throughout the lifetime of the Wealth account, similar to Axis Burgundy account, to avoid account downgrade?
Also, what credit cards one can expect or negotiate to get offered?
FYI, I'm not an existing IDFC customer.
Thanks!

 

[vaibhav111]

DO you want to change your RM to my Virtaul RM ... He is a nice bloke from Mumbai.. I would strongly recommend ...

opened IDFC app and clicked on hamburger menu and called my relationship team, earlier i have send hi to him on whatsapp. some lady picked up and said the RM of mine isn't available so i explained her everything and she said on "Priority Basic" would take your request and Upgrade your Account. Even it take a week to upgrade I'm ok. if not would reach out to you.

 

[TheGuy]

already maintaining the funds.

from how long?

Please do update after you successfully update. I too will try.

 

[vaibhav111]

from how long?

Please do update after you successfully update. I too will try.

1 month and 17 days counting.

 

[vaibhav111]

Dear Customer, Thank you for your time on call. To complete the onboarding process for Privilege Program with IDFC FIRST Bank, please proceed here https://XXXXX For any query, please contact your Relationship Manager.

Thank to @S S V I gave another shot and it worked this time.

 

[SSV]

Dear Customer, Thank you for your time on call. To complete the onboarding process for Privilege Program with IDFC FIRST Bank, please proceed here https://XXXXX For any query, please contact your Relationship Manager.

That's my man @vaibhav111 💪..
Well done mate!!

 

[aayusharyan]

I got an information from IDFC to open a zero balance account. Thinking of opening.

 

[SSV]

I got an information from IDFC to open a zero balance account. Thinking of opening.

Just go for it.. no need to waste time thinking about it

 

[vaibhav111]

A few things I should mention: my Relationship Manager (RM) asked for my monthly salary, my communication address, and if I have an existing account in any bank. If yes, she wanted to know the amount I'm maintaining (I gave her a rough figure, not the exact amount). Then, she tried to sell me some investments, but she quickly understood that I knew more than her. She attempted to inquire about how or where I keep all my funds. I simply said that I never keep all my funds in a single basket. She tried to convince me to keep more for the sake of interest, but I just responded with a non-committal "hmmm, alright, but no thanks." She also asked about the bank Ii'm using currently and the program or variant I use. I'd like to know if @S S V bro, your RM asked you all these things or not.

 

[vaibhav111]

I got an information from IDFC to open a zero balance account. Thinking of opening.

join us.. go for it bro

 

[SSV]

I'd like to know if @S S V bro, your RM asked you all these things or not

Nothing.. Zero.. I didn't give him any such opportunity. Generally I won't give any opportunity for the other party to talk when I am on the Deal Table...
Straight to the deal terms..

When he called , I said, I wanted IDFC wealth account, I have imperia, WM with other banks .. How much funding you need ? He said wait sir, I will talk to my manager.. He came back and said 10L .. I said I would give 5L can you do?? because my other funds are in FD, I need to break them to fund more than 5L..
He again went back to his boss , said I could do select with 5L.. I said I wanted Wealth not Select...
Okay then I asked him , if I fund 10L now, when will you upgrade it to wealth , I don't want to wait for weeks, or months?? He offered me within 24 hours..
On the spot I transferred , he sent me the consent form.. all done within 30 mintues..

This is how I deal .. I don't waste anytime .. .. I asked him to give his boss's email so that I can give him my feedback , he gave it and I promptly sent him my feedback..
They are happy and I am happy... All done and dusted under 24 hours of account opening ...

 

[TheGuy]

I promptly sent him my feedback

If you wouldn't mind I would like to know what you wrote. Can also DM.

 

[SSV]

If you wouldn't mind I would like to know what you wrote. Can also DM.

okay, see you at the DM...

BTW: why are you so keen??

 

[TheGuy]

okay, see you at the DM...

BTW: why are you so keen??

- First WM (useful one, also as IDFC has been great to me- shareholder, ASBA, HISA, Zero Fee Banking- specially DD, CC)
- Locker
- Pref Forex (If it really is competitive to IOB, SBI)
- Doorstep banking (if it works)
- Golf on DC xD
- VI DC

 

[SSV]

- First WM (useful one, also as IDFC has been great to me- shareholder, ASBA, HISA, Zero Fee Banking- specially DD, CC)
- Locker
- Pref Forex (If it really is competitive to IOB, SBI)
- Doorstep banking (if it works)
- Golf on DC xD
- VI DC

see, if you can afford 10L for one week to 10 days.. its done deal..
I have opened IDFC 0 MAB account yesterday, transeffered 10L today and would get my Welath upgrade by next week.. and then transfer all that 10L to my preferred account..

 

[TheGuy]

I have opened IDFC 0 MAB account yesterday

I have old early 2020 or 2021 account, if it can be same then awesome..
and gotta see your norm-exception rule

 

[SSV]

I have old early 2020 or 2021 account, if it can be same then awesome..
and gotta see your norm-exception rule

doesn't matter , it shoulod work for you as well. talk to your RM mentioned in the App...

 

[aayusharyan]

join us.. go for it bro

Just go for it.. no need to waste time thinking about it

Just to clarify, we are talking about this, right?
I don't think this is Wealth Account invite. 🤔

 

[SSV]

Just to clarify, we are talking about this, right?
I don't think this is Wealth Account invite. 🤔

This is not wealth invite “Hero”.

It’s a 0MAB IDFC account

 

[aayusharyan]

This is not wealth invite “Hero”.

It’s a 0MAB IDFC account

lol yeah. Just now checked the thread and all the pages. My bad. 🙈

 

[aayusharyan]

Guys, the proceedings that happened after opening my 0 MAB IDFC SB account yesterday ( i.e. less than 24 hours of account opening).

1) Called IDFC CC and asked someone from my local branch to contact me regarding Welath program. Immediately one bloke called me and asked me fund 10L and after the end of this month he will start processing my Wealth Request. Somehow, I didn't like his voice.. thats me..

2) After a couple of hours I saw a Virtual RM (VRM) was assigned to my account.. I asked him to call me..

3) My VRM called me and he also insisted me for IP of 10L.. but he promised he would kickstart my Wealth upgrade immediately.

4) I funded my IDFC account this morning with 10L ( which were freed up from my HDFC account as I got my Infinia and imperia via ULIP there as you guys know).

5) He sent me an OTP to provide my consent and the welath upgrade request has now been processed and I will receive my Wealth Kit in 7 working days.
Note: my general sb kit is also not processed yet.. so Wealth kit will now be processed..


So, in a nutshell, On-boarding into IDFC Wealth is pretty seemless. and the net result is:

I got IDFC 0 MAB Wealth Account in under 24 hours of account opening with 10L IP,
without visiting any branch or no-one visiting my home , all done thru a few phonce calls...
This is what I call a True seemless Banking on-boarding process to a HNI Program ...
A Stunning on-boarding expereince to Wealth program ..

Thanks guys for all your inputs..

Hmmmm, I do have 10L liquid to try this. @S S V Are you sure this new upgraded one is 0MAB?