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

 

[praful47]

Suggest something so that I can fight with them

 

[its_karan]

Suggest something so that I can fight with them

I need strong evidence to support my complaint.
I need a proof where jupiter has clearly mentioned that account would be lifetime zero balance and debit card would be lifetime free.

I have not received response from crpc till now .
Your help would really be appreciated.

You can download a screengrab of their Website

This is the website: https://jupiter.money/fees-rates-charges/​

​

Search in this: https://web.archive.org/​

You will get the changes from 2021 to till date.

Jaise:

 

[doraemon]

You can download a screengrab of their Website

This is the website: https://jupiter.money/fees-rates-charges/​

​

Search in this: https://web.archive.org/​

You will get the changes from 2021 to till date.

Jaise:

While I do appreciate the effort
But I am sure nothing can be done
Jupiter is wrapper
Federal is the main content

Federal can twist the conditions anytime
With prior intimation

 

[its_karan]

While I do appreciate the effort
But I am sure nothing can be done
Jupiter is wrapper
Federal is the main content

Federal can twist the conditions anytime
With prior intimation

@praful47

Do let us know if you need anything else

And,

Banks should give atleast 1 month notice before changing any Debit card or Credit Card Benefit/Charges:

Reserve Bank of India - Master Directions

Sab kuch ikattha karlena before going to BO Website including Date of Change and Notice sent to you

 

[praful47]

While I do appreciate the effort
But I am sure nothing can be done
Jupiter is wrapper
Federal is the main content

Federal can twist the conditions anytime
With prior intimation

Ram ram ram ram ram

 

[praful47]

@praful47

Do let us know if you need anything else

And,

Banks should give atleast 1 month notice before changing any Debit card or Credit Card Benefit/Charges:

Reserve Bank of India - Master Directions

Sab kuch ikattha karlena before going to BO Website including Date of Change and Notice sent to you

Let's hope for the best
Well !! Thank you

 

[its_karan]

Let's hope for the best

I can fight with them

Chodna mat salon ko

 

[doraemon]

Chodna mat salon ko

It's high time we launch our own bank

 

[praful47]

It's high time we launch our own bank

Let's use the same trick like jupiter and fi .
Let's merge with Axis Bank and give them the power to regulate their charges.
We will open up a bank with zero balance burgundy account ltf , lifetime free debit card and LTF credit card.

 

[praful47]

Chodna mat salon ko

.... .... ....

 

[the_collector]

These FI guys are a bunch of C's

I placed closure request 11 days ago, correctly on the 10th day it got cancelled. How?

Because they suddenly chose to add quarterly interest of Rs.62.

So now the CX says that you have to create a new request and wait for 21 more days.

The tactics these banks use. Unbelievable.

I'm definitely not sticking to these kind of banks.

 

[praful47]

These FI guys are a bunch of C's

I placed closure request 11 days ago, correctly on the 10th day it got cancelled. How?

Because they suddenly chose to add quarterly interest of Rs.62.

So now the CX says that you have to create a new request and wait for 21 more days.

The tactics these banks use. Unbelievable.

I'm definitely not sticking to these kind of banks.

I think fi is in love with you ❣️
They are not in a mood to break up .
So , as a love gesture they gave you ₹ 62 and want you to be with fi forever .

 

[ramirami]

These FI guys are a bunch of C's

I placed closure request 11 days ago, correctly on the 10th day it got cancelled. How?

Because they suddenly chose to add quarterly interest of Rs.62.

So now the CX says that you have to create a new request and wait for 21 more days.

The tactics these banks use. Unbelievable.

I'm definitely not sticking to these kind of banks.

I will not have this problem because my quarterly or daily or annual or lifetime interest amounts are all zero for this account.

 

[cr_1290]

These FI guys are a bunch of C's

I placed closure request 11 days ago, correctly on the 10th day it got cancelled. How?

Because they suddenly chose to add quarterly interest of Rs.62.

So now the CX says that you have to create a new request and wait for 21 more days.

The tactics these banks use. Unbelievable.

I'm definitely not sticking to these kind of banks.

Mera to interest beneficiary account mein transfer kar Diya automatic 😅

 

[Calm Radiance]

Never opting for Neobank again.

We don't have so much time that each month some or other changes will be done and we need to keep up.

 

[falcon007]

Is there any RBI directive that the closure of account needs to processed in xx days after customer request?

Would like to give good treatment to Fi Money.