Federal Bank - Fi Money and Jupiter Hike Service Charges for Savings Accounts from June 1st, 2024

[Shraaj]

Summary: Federal Bank & Fi Money customers will experience increased service charges from June 1st, 2024. This affects Virtual & Physical Debit Card issuance, account closure, and AMB requirements.

Article: In an email, Federal Bank notified customers of changes in service charges for Federal Bank-Fi Money & Jupiter Accounts. From June 1st, 2024, customers will face revised fees in various banking areas.

Virtual Debit Card Charges: The issuance of a Virtual Debit Card will now cost ₹354 (including GST), an increase from previous pricing.

Physical Debit Card Charges: Customers will be charged a flat fee of ₹399 (including GST) for the issuance and maintenance of Physical Debit Cards. This applies to all account types except Salary Accounts.

Account Closure Charges: Closure of Fi Money accounts after 14 days of creation will cost ₹299 (including GST).. This is applicable to all account variant

Zero Balance Accounts: All accounts, including Standard, Plus, and Infinite, must now maintain a minimum monthly average balance (AMB). Specific requirements have not yet been disclosed. These changes may disappoint customers who opened accounts in early 2021 when fees were lower.

Federal Bank Charges Read it from Page no.9

 

[hema220]

Summary: Federal Bank & Fi Money customers will experience increased service charges from June 1st, 2024. This affects Virtual & Physical Debit Card issuance, account closure, and AMB requirements.

Article: In an email, Federal Bank notified customers of changes in service charges for Federal Bank-Fi Money & Jupiter Accounts. From June 1st, 2024, customers will face revised fees in various banking areas.

Virtual Debit Card Charges: The issuance of a Virtual Debit Card will now cost ₹354 (including GST), an increase from previous pricing.

Physical Debit Card Charges: Customers will be charged a flat fee of ₹399 (including GST) for the issuance and maintenance of Physical Debit Cards. This applies to all account types except Salary Accounts.

Account Closure Charges: Closure of Fi Money accounts after 14 days of creation will cost ₹299 (including GST).. This is applicable to all account variant

Zero Balance Accounts: All accounts, including Standard, Plus, and Infinite, must now maintain a minimum monthly average balance (AMB). Specific requirements have not yet been disclosed. These changes may disappoint customers who opened accounts in early 2021 when fees were lower.

Federal Bank Charges Read it from Page no.9

just now, submitted closer request. Any idea about closing time.

 

[hema220]

I will be closing Fi before the new terms apply in order to avoid account closure charges - so before 1 June. The account offers no rewards and has debit card charges and now they want some monthly balance too. Not worth it at all.

already submitted closer request for fi account, thinking about jupiter also

 

[iamabhisekagar]

Anybody have any idea about the consequences on the Federal Bank account opened via Ind money for US Stocks

 

[rojajimmy]

AU Bank joins the list.. the free 0 MAB digital savings account charges PDF received

 

[ashwink]

So now no Zero MAB account?

 

[pankaj_ji]

So now no Zero MAB account?

AU ka zero MAB lag raha h...but Fi ka pta nhi

 

[joshuatree]

Specific to Jupiter:

 

[Batmanbaba]

Good that I closed both fi and jupiter account.last month... I think the funding they got from investors have been spent.. So now... Getting the funding from customers...

 

[Shraaj]

Fi or Jupiter is not mentioned I think, I guess these are only for core Federal bank accounts.

Read Properly Screenshots Title and also pdf page 9 jupiter and fi money written

 

[Shraaj]

FI Schemes Ultimate means Infinite right? Why the FI Account Types are not termed properly leading to confusion and chaos 🦁.

Federal Bank is already facing banned from RBI. May be that's why not doing there work properly

 

[Shraaj]

just now, submitted closer request. Any idea about closing time.

within 10 working days

 

[Purnima]

Jupiter has free debit card for pro and salary accounts currently.
The charges don't say anything directly about those (unless salary-7777 is salary accounts)

 

[#aniket]

This is not justified...even Axis doesn't charge for account closure after 1 year

Can't charge bro even ₹1 as revised charge after the revision, just close your account within 60 days of receiving such notice.

If you're charged just sue and ask heavy compensation.

 

[iamabhisekagar]

Can't charge bro even ₹1 after the revision of charges, just close your account within 30 days.

If you're charged just raise sue and ask heavy compensation.

That is the way...

 

[#aniket]

That is the way...

Yep! 😊
Edit: It's 60 days, my bad.

 

[krishc]

Fi & Jupiter are just a joke now.
Glad that have closed accounts with them in past.
They wanted to drink juice even before fruit was ripe and that too without proper farming.

 

[Abhishek012]

Jupiter ka details kidhar hai ?

 

[Shraaj]

Jupiter ka details kidhar hai ?

Pdf attached kiya hai page no 11 par dekho

 

[its_karan]

Summary: Federal Bank & Fi Money customers will experience increased service charges from June 1st, 2024. This affects Virtual & Physical Debit Card issuance, account closure, and AMB requirements.

Article: In an email, Federal Bank notified customers of changes in service charges for Federal Bank-Fi Money & Jupiter Accounts. From June 1st, 2024, customers will face revised fees in various banking areas.

Virtual Debit Card Charges: The issuance of a Virtual Debit Card will now cost ₹354 (including GST), an increase from previous pricing.

Physical Debit Card Charges: Customers will be charged a flat fee of ₹399 (including GST) for the issuance and maintenance of Physical Debit Cards. This applies to all account types except Salary Accounts.

Account Closure Charges: Closure of Fi Money accounts after 14 days of creation will cost ₹299 (including GST).. This is applicable to all account variant

Zero Balance Accounts: All accounts, including Standard, Plus, and Infinite, must now maintain a minimum monthly average balance (AMB). Specific requirements have not yet been disclosed. These changes may disappoint customers who opened accounts in early 2021 when fees were lower.

Federal Bank Charges Read it from Page no.9

रिश्ता आप से है
क्यूँकि वसूली भी आप से है

Edit: Some Banks charge for some service, some for other,
Federal seems to charge for everything.
Even account closure is free post 12 months normally.

 

[the_collector]

I was anyways extremely unhappy with their customer service ( they took 2 months to solve an issue of mine) and was only holding on to it for the CB on infinite.

Going to get my this month's cashback and close the account on the 5th or 6th