IDFC First Bank Debit Card Charges from June 30 2022

[TechnoFino]

Update-
IDFC First Bank decided to not to impose debit card annual fees to their existing customers.
But they'll charge their new customers for debit card. if you open IDFC First Bank account before June 30th, 2022 then you'll be considered as existing customer.

Effective from 30th june 2022, IDFC First Bank Visa Signature bebit card will carry an annual fees of 499+gst & Visa Classic 199+GST (Including Salary Accounts).



This is insane... IDFC Bank going to charge debit card annual fees from 25k maintenance account/salary account holders.
Official notice url- https://www.idfcfirstbank.com/notice-board

 

[StanRoute66]

Effective from 30th june 2022, IDFC First Bank Visa Signature bebit card will carry an annual fees of 499+gst & Visa Classic 199+GST (Including Salary Accounts).



This is insane... IDFC Bank going to charge debit card annual fees from 25k maintenance account/salary account holders.
Official notice url- https://www.idfcfirstbank.com/notice-board

They Listen to the Customers !

 

[hriday.haria]

They Listen to the Customers !

In that case, me as a customer has a request...

Whosever that decided to introduce charges for debit card needs to be fired ! 😂

 

[Souvik]

They Listen to the Customers !

Aha someone still that these banks are for customers and not for reaping/ripping profits at customers cost !

 

[Bob78900]

They Listen to the Customers !

Pachtava ho raha hai june se pehle account kyu ni khola meine🥲 debit card ni lunga aur ky kr skte hai🥲

 

[Batmanbaba]

Pachtava ho raha hai june se pehle account kyu ni khola meine🥲 debit card ni lunga aur ky kr skte hai🥲

The charges are applicable from 30th june....... So if you open account till then.. You are an existing customer

 

[BankExpertIndia]

Then I Have Done A Great Job... But My VideoKYC Is Not Completed Till Now... But The Account Number Is Allotted So I Think I Am The Existing Customer Now...

 

[ashwink]

Then I Have Done A Great Job... But My VideoKYC Is Not Completed Till Now... But The Account Number Is Allotted So I Think I Am The Existing Customer Now...

Yes

 

[raj007]

They wasted additional rupees. I have 3 Account Conversion Forms which I got from the Branch Yesterday ... 25k to 10k conversion

Bro is there any charge if I covert signature to platinum savings account?

 

[Batmanbaba]

Bro is there any charge if I covert signature to platinum savings account?

No....

 

[hriday.haria]

Bro is there any charge if I covert signature to platinum savings account?

No, there are no charges in particular.
But transaction limits go down ...
Meaning only few withdrawals free, few branch transactions, lower withdrawal limit etc
So if you exceed them later, you'll end up paying charges.

For detailed comparison, check out below link:

Low Cost Banking | Savings Account Charges & Fees | IDFC FIRST Bank

Understand fees and charges for savings account, such as, account maintenance charges, transaction charges, debit card charges, etc., for Savings Accounts at IDFC FIRST Bank.

www.idfcfirstbank.com

 

[vibrant143]

One of my friends talked to his rm in idfc...... He has told that idfc has rolled back the decision to charge debit charges from existing accounts.... After the huge backlash... They might only charge to new customers after 30 june.... He said he was told by his regional head... Not confirmed news but clear notification possible after 1-2 days...

Today I got mail from idfc. The mail states that existing customer will continue to use debit card for zero annual fee and joining fee.

 

[raj007]

No, there are no charges in particular.
But transaction limits go down ...
Meaning only few withdrawals free, few branch transactions, lower withdrawal limit etc
So if you exceed them later, you'll end up paying charges.

For detailed comparison, check out below link:

Low Cost Banking | Savings Account Charges & Fees | IDFC FIRST Bank

Understand fees and charges for savings account, such as, account maintenance charges, transaction charges, debit card charges, etc., for Savings Accounts at IDFC FIRST Bank.

www.idfcfirstbank.com

Oh okay, is there any limit that after a certain period form to be filled to downgrade from Signature to Platinum?

 

[raj007]

Today I got mail from idfc. The mail states that existing customer will continue to use debit card for zero annual fee and joining fee.

I have also received.

 

[hriday.haria]

Oh okay, is there any limit that after a certain period form to be filled to downgrade from Signature to Platinum?

No.
You can downgrade your account whenever you want. Only hassle is you'll have to visit the branch.
Just for your reference, the form looks something like this in case of IDFC

 

[raj007]

No.
You can downgrade your account whenever you want. Only hassle is you'll have to visit the branch.
Just for your reference, the form looks something like this in case of IDFC

Thank you😊

 

[SC_23]

1)Can any IDFC account holder confirm the process of changing communication address

Like in Kotak and Axis you can complete with OTP or we have to provide address proof

2) So anyone who opens account before 30th June will get LTF debit card ? And does it support Tap and pay through Gpay?

@hriday.haria can you help ?

 

[AsB]

I know Private Banks cannot be trusted. That's why at places where giving bank account details is important(like Mutual Fund houses, stock brokerages, etc.), I give my SBI account details only, so that I do not have to depend on private banks. Thus, even I am playing with the accounts of various private banks😂. I will dump IDFC as soon as I realise that it's benefits are not worth the cost of maintaining it.

You may not believe, but I do this exact same thing. Not even BoB. I use SBI for all such transactions

 

[AsB]

1) Is there any way in which I can know that my city is under their limits to provide a credit card?
2) If I go for 10k MAB account, will I get a credit card pre-approved (faster) ?
3) How long do they take to give pre-approved offer for 10k MAB accounts, as compared to 25k ?
4) If I open an account before 1 July, will I get free ATM Card? (Needs re-confirmation on this)

 

[raghavx]

I am going to downgrade to 10k Variant !

@hriday.haria why 10k? Given that you get good benefits with 25k? Insurance, lost card, higher withdrawal, lounge access etc?

 

[raghavx]

3 months back, I was thinking to close my IDFC Savings Account, but IDFC automatically upgraded my account to IDFC First Select Account. This put my decision in abeyance. I think the recent introduction of debit card charges does not cover my Select Debit card. So I am still holding on with my account, but with more alertness.

@mukundstud was it a 10k or 25k MAB account?