IDFC First Wealth Account eligibility requirement and benefits

[Quantum]

Hello,

IDFC website doesn't seem to list the eligibility criteria for opening an IDFC First Wealth Account.
From your recent first hand experience, could you please share the eligibility criteria?
Does the criteria need to be maintained throughout the lifetime of the Wealth account, similar to Axis Burgundy account, to avoid account downgrade?
Also, what credit cards one can expect or negotiate to get offered?
FYI, I'm not an existing IDFC customer.
Thanks!

 

[quino]

IDFC doesn't have the highest savings interest. Fincare and Equitas do.

there are other sfbs that offer better roi with the same 5L insurance. but yes they are the stablest sfbs in all of sfbs in india

 

[TheTrickySid]

What is so unsafe about it? It is a well established, large bank. Even small finance banks are perfectly safe for such a tiny amount. In any case, 5 lakhs is guaranteed by deposit insurance scheme.

5L might be tiny for you but not for everyone.

 

[Lobogris]

5L might be tiny for you but not for everyone.

It is a comparatively small amount for anyone except the very poor. It is especially small when you look at the size of a bank amd worry about its failure.

 

[TheTrickySid]

It is a comparatively small amount for anyone except the very poor. It is especially small when you look at the size of a bank amd worry about its failure.

LoL . .

 

[Survivor35]

I faced similar situation with a well renowed bank where I have had account for 16+years well funded Mab close to one and half million always yet was treated low.

I withdrew my money and distributed to other accounts and have seen how treatment of Royalty vs loyalty.

We can understand if such scrutiny is done if they were asked Super premier card as LTF but not for bank program where it's funded and borne by customers.

 

[ankitfintech]

Where are the features of IDFC Wealth Debit listed in details?
https://www.idfcfirstbank.com/personal-banking/wealth/First-Wealth#debit-card link only mentions the features on high level but doesnt capture full details like eligible domestic lounge/golf sites/ etc etc.

 

[BIG BOY]

Hello
May I know which branch upgraded you to Wealth for 2 days old Account?

I am having Account in Cuttack, Odissa branch for over an year with average balance of Rs 50 K and for last 10 days I am keeping over Rs 15 lacs balance. Still they told me I need to maintain Rs 10 lacs for 3 months minimum to have Wealth Acc

Any hack to get it done before?

Same branch here. Got upgraded to wealth within a month of account opening.

 

[Quantum]

@jeet83 Any updates on your Wealth program upgrade?

 

[jeet83]

@jeet83 Any updates on your Wealth program upgrade?

Hello
Wealth Acc Application was processed on October 11, I had called them earlier this week. They said it's under process. Today I called again in the evening Customer Support told me 'Congratulations your Acc has been Upgraded to Wealth Acc on October 17, 2023' I asked why I didn't get any sms/call or email informing me the same he said 'Sorry Sir Then I checked my mobile app and net banking and found my Acc type still showing Regular Saving Acc, called again and asked them they said it will reflect in an hour. Then I called my RM and he told me it will reflect after few days time but acc has been Upgraded to Wealth. Not sure if it's true or not. I asked Customer support and RM both about my Welcome Kit they said it will take 14 Working Days that's long time. I hope bank is not fooling me
around.

 

[Chaitanya-a]

Hello
Wealth Acc Application was processed on October 11, I had called them earlier this week. They said it's under process. Today I called again in the evening Customer Support told me 'Congratulations your Acc has been Upgraded to Wealth Acc on October 17, 2023' I asked why I didn't get any sms/call or email informing me the same he said 'Sorry Sir Then I checked my mobile app and net banking and found my Acc type still showing Regular Saving Acc, called again and asked them they said it will reflect in an hour. Then I called my RM and he told me it will reflect after few days time but acc has been Upgraded to Wealth. Not sure if it's true or not. I asked Customer support and RM both about my Welcome Kit they said it will take 14 Working Days that's long time. I hope bank is not fooling me
around.

Bank isn't fooling. It takes few days to reflect Wealth status on your app/NetBanking.

 

[ccgeek07]

Hello
Wealth Acc Application was processed on October 11, I had called them earlier this week. They said it's under process. Today I called again in the evening Customer Support told me 'Congratulations your Acc has been Upgraded to Wealth Acc on October 17, 2023' I asked why I didn't get any sms/call or email informing me the same he said 'Sorry Sir Then I checked my mobile app and net banking and found my Acc type still showing Regular Saving Acc, called again and asked them they said it will reflect in an hour. Then I called my RM and he told me it will reflect after few days time but acc has been Upgraded to Wealth. Not sure if it's true or not. I asked Customer support and RM both about my Welcome Kit they said it will take 14 Working Days that's long time. I hope bank is not fooling me
around.

Any email from IDFC will have a Wealth logo if it's upgraded. Check if you received any mails. (It need not be an Upgradation mail only)

 

[jeet83]

Bank isn't fooling. It takes few days to reflect Wealth status on your app/NetBanking.

Thanks for the reply but at least they should send me an email that it's been Upgraded

 

[jeet83]

Any email from IDFC will have a Wealth logo if it's upgraded. Check if you received any mails. (It need not be an Upgradation mail only)

No email received from them in last 2 weeks.

 

[ccgeek07]

No email received from them in last 2 weeks.

Not even a Promotional mail?
I receive at least 1 per day.

 

[Chaitanya-a]

Thanks for the reply but at least they should send me an email that it's been Upgraded

They don't send confirmation email. However your RM can check it in his system and can send you snap for same. My RM did it too.

 

[jeet83]

They don't send confirmation email. However your RM can check it in his system and can send you snap for same. My RM did it too.

Thanks will ask him the same

 

[jeet83]

Not even a Promotional mail?
I receive at least 1 per day.

Nothing in last 2 weeks maybe I have opted out from promotional emails

 

[Rahul Gupta]

Nothing in last 2 weeks maybe I have opted out from promotional emails

Don't worry you will get welcome kit within 14 days as mentioned and check your cards section if its showing wealth dc or not. Btw they don't send any welcome kit now its just a regular wealth dc packet with dc and cheque book.

 

[jeet83]

Don't worry you will get welcome kit within 14 days as mentioned and check your cards section if its showing wealth dc or not. Btw they don't send any welcome kit now its just a regular wealth dc packet with dc and cheque book.

Thank You. In card section I am only seeing Visa Signature Card I had got for my Rs 25K AMB Saving Acc

Will wait for 2 weeks, once I get the Kit, will update here. Thank you everyone and Wishing All Happy Dusera and Navratri

 

[Quantum]

Thank You. In card section I am only seeing Visa Signature Card I had got for my Rs 25K AMB Saving Acc

Will wait for 2 weeks, once I get the Kit, will update here. Thank you everyone and Wishing All Happy Dusera and Navratri

It takes around two weeks to complete this process. Forget it for some time and enjoy Dussehra
Happy Dussehra