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

 

[hriday.haria]

@hriday.haria I opened 10k MAB account after your suggestion. Though will use this only as an emergency fund account. Should I be upgrading to 25K mab account? What benefits would it give?

No need to upgrade to 25k variant. The benefits are useful only if you plan to use it as your primary, like More Cash Withdrawal Amount, more lost card liability, etc.
If you are planning to use as emergency account, 10k variant is more than sufficient !
Refer the below image, if you find any worthy enough benefit to upgrade @raghavx

Note: Benefits like Air Insurance, Purchase protection etc. are only applicable if you have booked the tickets/products using the Debit Card, which most of us rarely do. Thought of mentioning it

 

[raghavx]

No need to upgrade to 25k variant. The benefits are useful only if you plan to use it as your primary, like More Cash Withdrawal Amount, more lost card liability, etc.
If you are planning to use as emergency account, 10k variant is more than sufficient !
Refer the below image, if you find any worthy enough benefit to upgrade @raghavx

Note: Benefits like Air Insurance, Purchase protection etc. are only applicable if you have booked the tickets/products using the Debit Card, which most of us rarely do. Thought of mentioning it

So, I think I'll get these benefits with the HDFC Salary account. I should skip the upgrade!

 

[Ankit Goyal]

I visited the IDFC bank today to open my 25k account. Asked the person there about debit card charges for new customers post 30th June. He said that it is free post 30th June also. There will be no charge

 

[iamvk]

I visited the IDFC bank today to open my 25k account. Asked the person there about debit card charges for new customers post 30th June. He said that it is free post 30th June also. There will be no charge

He might have misunderstood. We got email clearly stating the charges

 

[SC_23]

Thanks for asking mate... Otherwise I would never know that they have goofed up. My account is linked with Aadhar but they have missed it somewhere for sure during their migration. And I see a " - " against my Aadhar and no option to change my Address

Got it fixed? any update ?

 

[raghavx]

He might have misunderstood. We got email clearly stating the charges

This has been reversed I think. Have confirmed this with customer support.

 

[zealot]

Thanks for asking mate... Otherwise I would never know that they have goofed up. My account is linked with Aadhar but they have missed it somewhere for sure during their migration. And I see a " - " against my Aadhar and no option to change my Address

same goes for me, There was no Aadhaar number

 

[kochiro]

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

Wait so I can't keep signature if I downgrade mine to 10k ?

 

[hriday.haria]

Wait so I can't keep signature if I downgrade mine to 10k ?

No, unless the Branch allows it specifically. It depends on them !

 

[kochiro]

No, unless the Branch allows it specifically. It depends on them !

can I go to any branch as my city don't have its branch and fill the downgrade form and just tick on do you need dc so "no" ?

 

[hriday.haria]

can I go to any branch as my city don't have its branch and fill the downgrade form and just tick on do you need dc so "no" ?

You can go to any branch and fill the downgrade form. If you don't want a debit card, you have the option to choose " Do you have an existing DC? If no, do you want a DC ?" ... You can fill NO in both.

But if you have a existing DC, it will be blocked and a new one will be issued as per your savings category.
That is as per official communication.

To keep the existing one after downgrading account will be difficult.

 

[SC_23]

I visited the IDFC bank today to open my 25k account. Asked the person there about debit card charges for new customers post 30th June. He said that it is free post 30th June also. There will be no charge

I think its true cant find any mention on their website can someone confirm ?

 

[StanRoute66]

Thanks for asking mate... Otherwise I would never know that they have goofed up. My account is linked with Aadhar but they have missed it somewhere for sure during their migration. And I see a " - " against my Aadhar and no option to change my Address

Nobody has their Aadhar Card Number mentioned in the net-banking .
So, dont worry . They dont show in net banking . Only PAN is shown .

 

[hriday.haria]

Nobody has their Aadhar Card Number mentioned in the net-banking .
So, dont worry . They dont show in net banking . Only PAN is shown .

Oh okay !
They should Probably remove that from their UI ... Just a suggestion !

 

[StanRoute66]

Oh okay !
They should Probably remove that from their UI ... Just a suggestion !

will forward this , thanks !

 

[neel]

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

Can i keep my signature card if i downgrade to 10 k account

 

[StanRoute66]

Can i keep my signature card if i downgrade to 10 k account

YES , until it's expiry

 

[neel]

YES , until it's expiry

Perfect I called my RM and she said I can keep the card after downgrade but there will be annual charges. I most likely think she's shitting me. What do you reckon?

 

[StanRoute66]

Perfect I called my RM and she said I can keep the card after downgrade but there will be annual charges. I most likely think she's shitting me. What do you reckon?

she might not know clearly , but i think it will remain free .