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!

 

[Lobogris]

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

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.

Netbanking and the app will keep showing regular savings. Don’t worry about that. Wait for your welcome kit.

 

[jeet83]

Hello All
I hope everyone had a good Dusera Holidays with their loved ones.

Finally today I got my IDFC First Wealth Kit Bummer it's not what I had imagined. It came only In an envelope, no box or leather pouch which I had got with ICICI Wealth Account. It looks premium though. But second Bummer only Cheque book was there and not IDFC First Wealth Debit Card (Visa Infinite). The welcome kit has a letter that explains benefits of the Debit card

I called support she said by mistake they forgot. I made a request for the debit card

Anyone knows the cashback details on this Debit Card?

 

[Rahul Gupta]

Hello All
I hope everyone had a good Dusera Holidays with their loved ones.

Finally today I got my IDFC First Wealth Kit Bummer it's not what I had imagined. It came only In an envelope, no box or leather pouch which I had got with ICICI Wealth Account. It looks premium though. But second Bummer only Cheque book was there and not IDFC First Wealth Debit Card (Visa Infinite). The welcome kit has a letter that explains benefits of the Debit card

I called support she said by mistake they forgot. I made a request for the debit card

Anyone knows the cashback details on this Debit Card?

Same thing happened in my case they forgot something but its cheque book in my case.

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.

I told you previously nothing special in welcome kit.

 

[vaibhav111]

already have zero IDFC saving account would fund with first 5 lakhs for 1 month and then more, if wealth upgrade trigger automatically then good if not will dm on twitter and ask what the criteria cause I'm from Mumbai so let c. with 7% interest that my motive to fund with IDFC.. have keep around 20k+ in last 3-4 month though.

 

[Quantum]

already have zero IDFC saving account would fund with first 5 lakhs for 1 month and then more, if wealth upgrade trigger automatically then good if not will dm on twitter and ask what the criteria cause I'm from Mumbai so let c. with 7% interest that my motive to fund with IDFC.. have keep around 20k+ in last 3-4 month though.

With 5L, it may not happen automatically in 1 month.
In this forum, I have come across couple of folks at least, who kept the balance of 5/10L+ for months but it didn't trigger the upgrade to Wealth.
I opened my account in Bengaluru. The RM told me that do 5L initial deposit and after 1 month, we will upgrade your account to Wealth.
I kept 10L and once my AMB started showing 10L (just after 3 days of opening the account), I asked the RM to initiate the request for Wealth mentioning that AMB is 10L+. And it was processed within a week.
What I would suggest is to negotiate with the BM/RM for Wealth before putting the 5L+ amount.
The fact is that someone not having an IDFC account could get a Wealth account within 1 month with 5L+. So, you could negotiate accordingly.
Via negotiation, you could get the upgrade within one month for sure.

On the 7% interest front, please note that 7% is for amount greater than 5L.

On Balances (in ₹)	Rate of Interest (% p.a.)
<=1 Lac	3.00%
> 1lac <= 5lac	4.00%
> 5 Lac <= 25Cr	7.00%

IDFC could be used for earning better interest rate if someone has some money just lying around in some other bank.

 

[Mr.Payne]

They don't offer credit card based on your relationship with the bank. You've to apply for it seperately.

I got my IDFC credit card after a couple months of opening a savings account with them. Required no document.

 

[vaibhav111]

With 5L, it may not happen automatically in 1 month.
In this forum, I have come across couple of folks at least, who kept the balance of 5/10L+ for months but it didn't trigger the upgrade to Wealth.
I opened my account in Bengaluru. The RM told me that do 5L initial deposit and after 1 month, we will upgrade your account to Wealth.
I kept 10L and once my AMB started showing 10L (just after 3 days of opening the account), I asked the RM to initiate the request for Wealth mentioning that AMB is 10L+. And it was processed within a week.
What I would suggest is to negotiate with the BM/RM for Wealth before putting the 5L+ amount.
The fact is that someone not having an IDFC account could get a Wealth account within 1 month with 5L+. So, you could negotiate accordingly.
Via negotiation, you could get the upgrade within one month for sure.

On the 7% interest front, please note that 7% is for amount greater than 5L.

On Balances (in ₹)	Rate of Interest (% p.a.)
<=1 Lac	3.00%
> 1lac <= 5lac	4.00%
> 5 Lac <= 25Cr	7.00%

IDFC could be used for earning better interest rate if someone has some money just lying around in some other bank.

Yes I’m aware it need to above 5 lakhs for 7% interest. Now would I get the number of rm/bm it won’t show up on my phone through the app.

 

[Quantum]

I got my IDFC credit card after a couple months of opening a savings account with them. Required no document.

Which credit card?

 

[Mr.Payne]

Which credit card?

the basic one Millenia.

 

[Swati]

Eligibility criteria is:

Your savings account balance should be 10L to be eligible for wealth Account. You can take out money after upgradation. There's no non Maintenance charges. It won't be downgraded if you've good connection with branch RM.

They don't offer credit card based on your relationship with the bank. You've to apply for it seperately.

Can we have same registered mobile number among different family members in idfc bank ?

 

[Chaitanya-a]

Can we have same registered mobile number among different family members in idfc bank ?

Don't think so. For different accounts, you need to provide different mobile numbers.

 

[SSV]

Now that I got my Wealth CC , I am intersetd in how to get 0 MAB Wealth Saving Account ..
I don't have any existing relationship with IDFC other thatn recently acquired Wealth CC..
I can do initial funding of 5L...
I need both 0 MAB and Wealth SB account.. Any tips about how to approach..
IDFC bank sales gus called me twice to open an SB account with 10K or 25K variant.. I don't think they can get me Wealth 0 MAB account..

Thanks

 

[Deleted member 21942]

Now that I got my Wealth CC , I am intersetd in how to get 0 MAB Wealth Saving Account ..
I don't have any existing relationship with IDFC other thatn recently acquired Wealth CC..
I can do initial funding of 5L...
I need both 0 MAB and Wealth SB account.. Any tips about how to approach..
IDFC bank sales gus called me twice to open an SB account with 10K or 25K variant.. I don't think they can get me Wealth 0 MAB account..

Thanks

Is there any way to track credit card application through IDFC mobile app?

 

[SSV]

Is there any way to track credit card application through IDFC mobile app?

So you have sb account already?

 

[Deleted member 21942]

So you have sb account already?

No... I am NTB.

 

[SSV]

No... I am NTB.

If you are NTB, how can you log into the App?

 

[SSV]

No... I am NTB.

In the mobile app. You can track only these categories. In which cc application status is not there..

 

[SSV]

Is there any way to track credit card application through IDFC mobile app?

You can track from their website.. why do you need it thru App?

 

[Deleted member 21942]

If you are NTB, how can you log into the App?

I am just asking is there any way to track IDFC credit card application via app? I have no idea regarding IDFC bank as I have no relation with them currently.

 

[Deleted member 21942]

You can track from their website.. why do you need it thru App?

Website was throwing some error few hours back that's why.