Jupiter - Refusing account closure due to POT account freeze, even though savings account is active.

[Batman]

Jupiter (Neo bank on the back of Federal Bank) has refused to close my savings account with them. I have full KYC, 2 year old account.

My savings account with them is active. But they've something called a "POT" account which is frozen. This happened because supposedly I've done no transactions in POT for 2 years now. I can still deposit the money, just withdrawal not possible.

I'm being asked to visit Federal Bank branch and do a re-KYC. This is nuts and there's no branch in a 50 km radius around me.

What to do?
Mind you, Federal website displays my savings account as KYC complete. But their support team says my account is tagged "dormant". has no information on Jupiter internal products like POT.

 

[doraemon]

Jupiter (Neo bank on the back of Federal Bank) has refused to close my savings account with them. I have full KYC, 2 year old account.

My savings account with them is active. But they've something called a "POT" account which is frozen. This happened because supposedly I've done no transactions in POT for 2 years now. I can still deposit the money, just withdrawal not possible.

I'm being asked to visit Federal Bank branch and do a re-KYC. This is nuts and there's no branch in a 50 km radius around me.

What to do?
Mind you, Federal website displays my savings account as KYC complete. But their support team says my account is tagged "dormant". has no information on Jupiter internal products like POT.

Withdraw all balance and delete the app

 

[Batman]

Withdraw all balance and delete the app.

Thanks. I have already withdrawn the balance. Can they charge me for yearly maintenance charges etc?

I don't think it is possible, but can it affect my CIBIL in any way? I don't care much about Federal Bank, no plan to open their bank account.

 

[doraemon]

Thanks. I have already withdrawn the balance. Can they charge me for yearly maintenance charges etc?

I don't think it is possible, but can it affect my CIBIL in any way? I don't care much about Federal Bank, no plan to open their bank account.

No cibil won't be affected in any way

They can make negative balance at max
But don't worry
Just make sure you remove this accounts from UPI apps where u register






And delete Jupiter app
Make sure not to credit any amount in this account ever

This pot freeze is a trick used by them for retaining the customer
As after introduction of charges
Many customers are leaving them



U can mark my answer as solution if u got the point
Thanks!

 

[NShah]

No cibil won't be affected in any way

They can make negative balance at max
But don't worry
Just make sure you remove this accounts from UPI apps where u register






And delete Jupiter app
Make sure not to credit any amount in this account ever

This pot freeze is a trick used by them for retaining the customer
As after introduction of charges
Many customers are leaving them



U can mark my answer as solution if u got the point
Thanks!

Fi 2 weeks pahle close kardiya
Jupiter account hai isko bhi close kardu
Ye Neo banks ka kuch bharosa nahi kab account freeze karde
Ye pots ka kya jhol hai

 

[Batman]

No cibil won't be affected in any way

They can make negative balance at max
But don't worry
Just make sure you remove this accounts from UPI apps where u register






And delete Jupiter app
Make sure not to credit any amount in this account ever

This pot freeze is a trick used by them for retaining the customer
As after introduction of charges
Many customers are leaving them



U can mark my answer as solution if u got the point
Thanks!

I never Jupiter UPI anywhere else, just it's own app. So that seems sorted.

I want to ignore and forget about them. But I want to write to RBI at once to maybe make them stop this nonsense.

What can I do?

 

[Batman]

Fi 2 weeks pahle close kardiya
Jupiter account hai isko bhi close kardu
Ye Neo banks ka kuch bharosa nahi kab account freeze karde
Ye pots ka kya jhol hai

Bhai pots kuch to JAR app ki tarah hai, pocket change ko invest karne ke lie.

The worst part is that, maine to POT account open bhi nahi kia tha. Apne aap kuch interest credit kia hai usme.

 

[sm9811911]

Jupiter (Neo bank on the back of Federal Bank) has refused to close my savings account with them. I have full KYC, 2 year old account.

My savings account with them is active. But they've something called a "POT" account which is frozen. This happened because supposedly I've done no transactions in POT for 2 years now. I can still deposit the money, just withdrawal not possible.

I'm being asked to visit Federal Bank branch and do a re-KYC. This is nuts and there's no branch in a 50 km radius around me.

What to do?
Mind you, Federal website displays my savings account as KYC complete. But their support team says my account is tagged "dormant". has no information on Jupiter internal products like POT.

Go through the bank escalation channels requesting to close the account. Remember to email with full details and proof. If no resolution for a month, i.e. account is not closed, consider yourself lucky. Rbi will give you 5k-15k lottery.

 

[doraemon]

Bhai pots kuch to JAR app ki tarah hai, pocket change ko invest karne ke lie.

The worst part is that, maine to POT account open bhi nahi kia tha. Apne aap kuch interest credit kia hai usme.

Yeah it's automatically created when we open Jupiter account

Skip this bro for good
And send them a mail (nodal)
And move on

 

[doraemon]

Fi 2 weeks pahle close kardiya
Jupiter account hai isko bhi close kardu
Ye Neo banks ka kuch bharosa nahi kab account freeze karde
Ye pots ka kya jhol hai

I have also closing my Jupiter this month
Next month se 299 charge lenge warna close ke

Waiting for 12 may to redeem add money to wallet Wale jewels



Pots is like jar where we can save certain portions of money for a fixed period

Rd jaisa system h with flexibility

 

[iampqq]

Mera Jupiter bank account 1.5-2 sal pehle close karwa diya tha
But still I can use bank acc via upi apps

 

[Batman]

Go through the bank escalation channels requesting to close the account. Remember to email with full details and proof. If no resolution for a month, i.e. account is not closed, consider yourself lucky. Rbi will give you 5k-15k lottery.

I like where this is going. Should I be writing to Jupiter or Federal Bank? Jupiter does have an escalation matrix upto Nodal officer.

I checked with Federal for Ombudsman complaint. He asked me to use Jupiter bank branch address.

 

[doraemon]

Mera Jupiter bank account 1.5-2 sal pehle close karwa diya tha
But still I can use bank acc via upi apps

How is it possible?

 

[sm9811911]

Both but fedral bank is the one you can complaint with rbi. So do keep them involved

 

[iampqq]

How is it possible?

Well it is still working

 

[doraemon]

Well it is still working

Then it's not closed
Try to login into Jupiter app
If logged in

Raise complaint citing reason
And raise with RBI thereafter

 

[praful47]

I have already escalated this issue with RBI

 

[Batman]

I have already escalated this issue with RBI

I didn't know Jupiter planned to have MAB and charge users if it isn't met. This is awful from them.

Why does the Nodal team comment that they don't have information about MAB?

 

[praful47]

I didn't know Jupiter planned to have MAB and charge users if it isn't met. This is awful from them.

Why does the Nodal team comment that they don't have information about MAB?

Don't know what they are upto .
They are tied up with federal bank, so how can jupiter team unaware about changes.

I think they are trying to defend themselves.

Let's wait and see what RBI does to them .

 

[iampqq]

Then it's not closed
Try to login into Jupiter app
If logged in

Raise complaint citing reason
And raise with RBI thereafter

Is shows closed on Jupiter app . Even their support says that to. Even on call said. Idk itna time nhi h magaj mari karu ,mera nuksan nhi h isme