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.

 

[Abhishek012]

@Abhishek012 - There's lot of conflicting info. Please clarify on my last reply.

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

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).

 

[insight]

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.

 

[pothi]

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.

That's good to know about Ujjivan bank. We have the following SFBs around here.

Ujjivan bank
Equitas
Fincare (soon to be AU)
Suryoday

Visited Equitas and had a not-so-good experience. Planning to visit Fincare after the merger with AU. Do you have experience with AU or Suryoday?

 

[Sahilhenzy]

That's good to know about Ujjivan bank. We have the following SFBs around here.

Ujjivan bank
Equitas
Fincare (soon to be AU)
Suryoday

Visited Equitas and had a not-so-good experience. Planning to visit Fincare after the merger with AU. So you have experience with AU or Suryoday?

Fincare most horrible bank for me. Au and Equtias have assigned a RM for me. And all are zero balance account. IDK how they assigned a RM.

 

[hellobois]

That's good to know about Ujjivan bank. We have the following SFBs around here.

Ujjivan bank
Equitas
Fincare (soon to be AU)
Suryoday

Visited Equitas and had a not-so-good experience. Planning to visit Fincare after the merger with AU. So you have experience with AU or Suryoday?

AU is good, no idea about equitas or fincare.

 

[pothi]

Fincare most horrible bank for me. Au and Equtias have assigned a RM for me. And all are zero balance account. IDK how they assigned a RM.

AU is good, no idea about equitas or fincare.

Thank you. The merger is scheduled for Feb 1, 2024. So, I will visit Fincare / AU after the merger and will choose Ujjivan if Fincare / AU isn't up to the mark here. Anyway, I will be able to apply for AU products soon. Currently, I am in non-serviceable area.

 

[quino]

no idea about equitas

i think equitas is very good. better than idfc in my opinion. their backend systems, customer care efficiency, are simply unbelievable. on a separate note, my RM is too good. BM visited my house. overall underrated bank.

 

[hellobois]

i think equitas is very good. better than idfc in my opinion. their backend systems, customer care efficiency, are simply unbelievable. on a separate note, my RM is too good. BM visited my house. overall underrated bank.

Any specific benefit like Zero MAB account and DC ?

 

[quino]

Any specific benefit like Zero MAB account and DC ?

no non-maintainance charges for any type of account. i have elite account, where everything is free. benefits: full body health check-up, several types of insurances. customer care has 0 waiting time. and they have the highest savings acc interest rates.

 

[its_karan]

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?

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

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).

 

[Abhishek012]

Has anyone opened a Yes Bank BSBDA here? I submitted an application to the branch, and they informed me 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. 1. Is this BSBDA the same?
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?

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.

 

[its_karan]

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.

 

[Abhishek012]

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.

Bro, I am not an expert on Yes Bank.

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

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.

 

[ashwink]

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.

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

 

[its_karan]

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

Yes that is helpful. Thanks.

Bro, I am not an expert on Yes Bank.

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

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.

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

 

[Abhishek012]

Yes that is helpful. Thanks.

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

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.

 

[WinSuperb7251]

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?

Just close this account or convert it basic savings account and complaint by email to the yes bank customer care if they don't resolve this issue report to the rbi.

 

[its_karan]

Just close this account or convert it basic savings account and complaint by email to the yes bank customer care if they don't resolve this issue report to the rbi.

Thanks. Have complaint over mail.

 

[pratyushpanda]

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 ?

 

[its_karan]

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 ?

• Already have Indie.
• Will open AU Digital in the summer when bills will exceed.
• Avoiding Kotak 811 as too many cases of Debit Freeze, don't need hassles .
• Looking into RBL Aspire/Signature next, Mainly for LTF RBL Play.
• Yes BSBDA was to give and forget to my home for daily expenses and had the least effort in opening.