Digital account, Zero balance with UPI account

[bengaltiger]

Hello ,

One of my friend will be back India.
He doesn't have any account with UPI.

So he wants to open an account digitally and want to avail UPI.

Please suggest.
Also without much calls from Banker or agent

UPDATE:
kotak 811, AU , fed selfie looking good for new online ZERO balance account.

 

[WinSuperb7251]

Bhailog, there are so many good accounts available in market like kotak 811, au digital, indusind indie, why are you going for yes bank bsbda account , any specific reason ?

You don't get free physical debit card in any of those accounts with zero balance and zero initial funding.

 

[WinSuperb7251]

I already have Indie. I will open AU Digital in the summer when needed. I need to decide between Kotak 811 and RBL Aspire next. Yes BSBDA was to give and forget to my home for daily expenses

Bro you can make only 4 withdrawal or debit per month

 

[its_karan]

Bro you can make only 4 withdrawal or debit per month

Okay, thanks, brother. I'll use only 2 mostly to load UPI Lite on the home's Paytm account.

 

[ashwink]

An update on Yes BSBDA

- Received the welcome kit today.
- The debit card is PMJDY Rupay.
- The welcome letter mentions something about 16,000 reward points, which, according to them, are valued at Rs. 4k. I don't know how to redeem them, though.(Not expecting anything)

BSBD accounts doesn't provide any reward points

 

[its_karan]

BSBD accounts doesn't provide any reward points

Thanks, wasn't expecting anything.

 

[panchabhut]

I have rupay platinum debit card from Ujjivan bank, account is Zero balance+ DC charges waived off with some investment criteria. I have started 10000 monthly RD for 15 months and the card is free for 15 months. I get 8% rate which is highest in the segment+ 100 monthly from Amazon bill pay via rupay plat DC. So it's a win win for me as I had to shift from equity to debt considering the overbought market conditions.
P.S. - Ujjivan bank services are better than the other SFBs so no issues so far. Using it for more than 1.5 years now.

Do they insist on linking only the adhaar linked mobile or any mobile no is accepted

 

[hellobois]

Do they insist on linking only the adhaar linked mobile or any mobile no is accepted

Aadhar linked mobile number

 

[Reaper]

Is it mandatory to open AU Digital Zero Balance account using the same mobile number which is linked with Aadhar?
Has anyone opened this with a different mobile number, one which is not linked with Aadhar?
Also, do we have an option for a virtual debit card in this account?

 

[varun__goel_]

Is it mandatory to open AU Digital Zero Balance account using the same mobile number which is linked with Aadhar?
Has anyone opened this with a different mobile number, one which is not linked with Aadhar?
Also, do we have an option for a virtual debit card in this account?

Yes aadhar linked no is mandatory
No virtual dc, physical dc is necessary otherwise you won't be able to access nb/mb

 

[insight]

@CAKARANBATRA - I had posted similar queries above.
Seems we hit some limit in @Abhishek012 's infinite loveing wisdom

I am still unclear if PMDJY and BSBDA are 2 terms for the same thing or different and/ or how are they related?

Been visiting & following up for last one month and updated in various replies on how slow they are moving due to their IT systems not unlocking the BSBDA account for branch/ location.

Bro visit yes bank branch and ask any zero balance account with RuPay Platinum DC or Yes bank Engage RuPay Platinum variant DC.

Price/ Cost as per what you know & based on which documentation updates?

AFAIK, You will get Yes bank RuPay Platinum debit card - Prosperity account, Yes First account, Zero balance account BSBDA, Senior Citizens & Salary Account holders (or many some other accounts too).

^ In the 2020 PDF it says Free RuPay Plat DC with BSBDA.
The 2023 PDF posted doesnt have any details on above.

Has anyone opened a Yes Bank BSBDA here?
I submitted an application to the branch, and they confirmed it is BSBDA and informed me/ shown on tab that the
Initial Funding Required is 0, and Debit Card charges are also 0.

Now, I have received an email from Yes Bank, which states, "Thank you for opening a Digital Savings Account." I have two questions:

1. Is this BSBDA ?
2. In the application, they mention "ELEMENT Domestic Debit Card." On their site, this card is listed at 300 plus GST with an annual charge.

What is happening here? Anyone?

I was awaiting their system to allow it, was bit unwell to revisit them, will try to follow on the same path.
Did the TAB or Employee specify which Debit Card it would be? Note my quoted post above.

Contact your branch and told them to issue your RuPay Platinum debit card or Engage RuPay Platinum Debit Card.

Note - I dnt know Element Debit card is available or not on RuPay variant. Contact your branch and Yes bank customer care and ask.

Thanks for replying, @Abhishek012

1. Is this a BSBDA? They mention just a Digital Yes First Account. Isn't Yes First 2.5k AMB one, Is there somewhere they mention that the Average Monthly Balance (AMB) is 0?
2. How will I know if this card is free or chargeable annually? Don't they write anywhere about annual fees? I just need a free card to create UPI and give it to my home for daily expenses

In the BSBDA they mention Element. Please check.

The naming and terminology confusion is atrocious. You might be further ahead than most here on this Yes Bank path.

Bro, I am not an expert on Yes Bank.

If you want to know so much details then ask any bank influencer/bank expert.

Can you please direct us to some of those Bank InfluExperts? Tag or Link us to them?

AFAIK, some banks offer 2 types of zero balance account BSBDA and PMJDY account or

Some banks offer zero balance PMJDY account and they also told this is BSBDA account.

The screenshot you shared, showing yes bank offer 2 types of zero balance account BSBDA and PMJDY account.

So 2 vs 1. @CAKARANBATRA - Which one did you end up applying and getting?

FYI BSBD Account are only allowed for Rupay card (PMJDY Card)

What does that mean? Is PMDJY card from Bank or some AADHAR type of card from Govt?
Im still confused on the terminology of BSBDA vs PMDJY and their linkage ( read this entire reply.. for my confusion context)

Yes that is helpful. Thanks.

Can you elaborate on what you found helpful / clariying?

No problems. Thanks for the earlier posts—they really helped

We'll likely need yours

Dnt forget to share, if you got Yes bank Element debit card on RuPay variant.

If you got RuPay Platinum variant Element debit card then you can also use for 20% upto 100 off per month on mobile recharge/utility bill payment.

Update awaited?

Thanks. Have complaint over mail.

Details/ Elaborate

 

[its_karan]

So 2 vs 1. @CAKARANBATRA - Which one did you end up applying and getting?

BSBDA

Update awaited?

I got a RuPay Classic PMJDY Card.

It's a RuPay Classic card with zero Joining and zero Maintenance Charges.

^ In the 2020 PDF it says Free RuPay Plat DC with BSBDA.
The 2023 PDF posted doesnt have any details on above.

I'll attach.

Price/ Cost as per what you know & based on which documentation updates?

I'll attach.

What does that mean? Is PMDJY card from Bank or some AADHAR type of card from Govt?
Im still confused on the terminology of BSBDA vs PMDJY and their linkage ( read this entire reply.. for my confusion context)

BSBDA: It's from the bank. The government has nothing to do with it

Can you please direct us to some of those Bank InfluExperts? Tag or Link us to them?

@CAKARANBATRA

I was awaiting their system to allow it, was bit unwell to revisit them, will try to follow on the same path.
Did the TAB or Employee specify which Debit Card it would be? Note my quoted post above.

1. When the Account is Opened you will receive a email like this.Link 1
2. I am attaching physical kit, what will also receive in the Welcome Kit if Account is BSBDA.
3. Facts= Charges are 0 for everything, Rest is below

- Account Opening: No initial deposit required.​

- SMS and alert charges: ₹0​

- Netbanking facility availability: Yes, and it works excellently.​

- Debit Card charges: ₹0​

- Why is PMJDY mentioned on the welcome kit/Debit Card if the Account is BSBDA? It's cost-effective for the bank.​

​

4. Important things to keep in mind​

• When you open the Account
  • there is no condition your Income should be 1 lakh p.a., the Banker might use this to try to open a 10k Account.
  • Cut their BS and tell them to ask their Zonal head through mail as there is no such case.
• After you open the Account
  • The digital welcome letter mentions a ELEMENT Domestic Debit Card . You will get Rupay Classic Yellow . Yes Bank is responsible for this BS.
  • The default Income slab chosen for Customer is 0-1 lakh income slab.
  • After the account is opened go to the Branch and say them what is your actual income slab and they will need you to sign a re-KYC for your Actual Income slab.
  • I did the next week of Account Opening to avoid any Income Mismatch in Future.
  • There maybe a limit in transactions per month or charges for more than specified. I have not faced any charges/limits.
• To open the BSBDA account, which the branch is denying, please email Yes Bank using the same format as the attached email template. The template specifies whom to send it to.

Cheers

 

[insight]

I got a RuPay Classic PMJDY Card.

It's a RuPay Classic card with zero Joining and zero Maintenance Charges.

So is it not possible to request RuPay Plat for BSBDA A/C at all? i.e. 2020 PDF has been over ridden?
Can you ask/ check using that with your current YB interactions/ contacts?

PS: Was bit unwell again so will re-read and respond to full post.
Truly appreciate the detailed response.

 

[panchabhut]

I am still unclear if PMDJY and BSBDA are 2 terms for the same thing or different and/ or how are they related?

PMJDY is a special govt scheme wherein certain benefits are passed as part of financial inclusion. BSBDA acct is used as the beneficiary account for the purpose of providing these benefits, incl overdraft upto Rs.2000 without any condition and term life cover of 30K. However, BSBDA acct can be opened even without availing the benefits of PMJDY.

 

[its_karan]

Details/ Elaborate

So is it not possible to request RuPay Plat for BSBDA A/C at all? i.e. 2020 PDF has been over ridden?
Can you ask/ check using that with your current YB interactions/ contacts?

PS: Was bit unwell again so will re-read and respond to full post.
Truly appreciate the detailed response.

I could apply for a RuPay Platinum debit card anytime. It will be chargeable. If that is your purpose, also look into this.

Stay healthy

 

[insight]

I could apply for a RuPay Platinum debit card anytime. It will be chargeable. If that is your purpose, also look into this.

I've seen that thread.

As per a 2020 PDF from Yes Bank the BSBDA was to get RuPay Plat for free.

Havent been able to see updated info on that.

How were you able to ascertain its chargeable for your current BSBDA and by what amount?

 

[its_karan]

As per a 2020 PDF from Yes Bank the BSBDA was to get RuPay Plat for free.

Where is 'Platinum' mentioned.

I've seen that thread.

As per a 2020 PDF from Yes Bank the BSBDA was to get RuPay Plat for free.

Havent been able to see updated info on that.

How were you able to ascertain its chargeable for your current BSBDA and by what amount?

Check the physical welcome letter.

Check the PDF.

The bank has provided what they said: a Rupay PMJDY Debit card.

It's another thing they haven't mentioned: whether the Rupay card is Classic or Platinum.

How were you able to ascertain its chargeable for your current BSBDA and by what amount?

By asking the BM
360, but I didn't need it, so I did not pursue it formally
Do Your Own Research.

Q. Why not AU Digital?

 

[insight]

Where is 'Platinum' mentioned.

There's a 2020 YesBank PDF linked / attached through many threads about Free RuPayPlat with BSBDA.

It's another thing they haven't mentioned: whether the Rupay card is Classic or Platinum.

Should/ Does it not say so in card/ maybe check online?

By asking the BM
360, but I didn't need it, so I did not pursue it formally

Ok.

Do Your Own Research.

Been doing it hence the above (can find what I mention above).

Q. Why not AU Digital?

YB RuPayPlat was to be free

 

[its_karan]

There's a 2020 YesBank PDF linked / attached through many threads about Free RuPayPlat with BSBDA.

NA

The 2020 pdf

Should/ Does it not say so in card/ maybe check online?

NA

Check the physical welcome letter.

Check the PDF.

The bank has provided what they said: a Rupay PMJDY Debit card.
I got a RuPay Classic PMJDY Card.

It's a RuPay Classic card with zero Joining and zero Maintenance Charges

Been doing it hence the above (can find what I mention above).

Even I can find an Indian Government Bond trading with a 14% p.a. interest rate at some point in the last two decades.

However, this does not mean that Indian Bonds are currently trading at 14% p.a.

Currently, they are trading at 7.1%.

So, if I enter into a contract right now, I will receive 7.1% and not 14%.

YB RuPayPlat was to be free

Okay.


Cheers

 

[insight]

Even I can find an Indian Government Bond trading with a 14% p.a. interest rate at some point in the last two decades.

However, this does not mean that Indian Bonds are currently trading at 14% p.a.

Currently, they are trading at 7.1%.

So, if I enter into a contract right now, I will receive 7.1% and not 14%.

No idea what you meant.

I meant another member posted here with 2020 PDF and whatever research I did so far did not reveal any update to that document.

But likely you may be correct about it, or maybe its still a free option mapped to BSBDA or maybe not.

 

[cardy]

Nahi Bhai, Even the account opening form (on tablet) has employment details which has to be filled.
As long as your branch doesn't want University proof, everything works fine.
Much better than these changu mangu 811/bro/indie-pindie

Indie pindie 😆😆😆😆