• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

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

POTs is basically FD which Jupiter automatically creates while you did transactions from account, I always use break the FD and take the money in my account. I closed my Fi and Jupiter accounts back in 2022 because I basically took them for 0 forex charge thing which they had withdrawn back then. Write a very strong worded email to Jupiter keeping Federal Bank customer care in carbon copy(cc). Tell them break all pots and release them into your another savings account, you may later provide your cancelled cheque of another account in case they ask for one.
 
POTs is basically FD which Jupiter automatically creates while you did transactions from account, I always use break the FD and take the money in my account. I closed my Fi and Jupiter accounts back in 2022 because I basically took them for 0 forex charge thing which they had withdrawn back then. Write a very strong worded email to Jupiter keeping Federal Bank customer care in carbon copy(cc). Tell them break all pots and release them into your another savings account, you may later provide your cancelled cheque of another account in case they ask for one.
Jupiter is operating on a whole different shady level.

My pot account was opened automatically, like you said, but the first manual transaction was counted as soon as I withdrew the interest.

I've anyway written emails to both Jupiter Nodal and PNO Federal. Also wrote the Ombudsman complaint. Now I have to wait and watch.

I got a call from Jupiter yesterday but they had no idea of PNO email or Ombudsman complaint. Looks like it takes time.
 
Jupiter is operating on a whole different shady level.

My pot account was opened automatically, like you said, but the first manual transaction was counted as soon as I withdrew the interest.

I've anyway written emails to both Jupiter Nodal and PNO Federal. Also wrote the Ombudsman complaint. Now I have to wait and watch.

I got a call from Jupiter yesterday but they had no idea of PNO email or Ombudsman complaint. Looks like it takes time.
It will take around 2 months .
Many complaints have been filed against Fi and jupiter this month , let's see what RBI does to them.
 
It will take around 2 months .
Many complaints have been filed against Fi and jupiter this month , let's see what RBI does to them.
Just got an email from Nodal team. There's hope.

I'm not taking back my complaint to RBI though. This borderline scam by Jupiter should be brought into daylight and ordered to stop by RBI.
 

Attachments

  • Screenshot_20240516_144228_Gmail.png
    Screenshot_20240516_144228_Gmail.png
    43.3 KB · Views: 31
Just got an email from Nodal team. There's hope.

I'm not taking back my complaint to RBI though. This borderline scam by Jupiter should be brought into daylight and ordered to stop by RBI.
Update: Savings account closed, based on email by Jupiter. No mention of BO complaint. Don't know if Nodal picked it up by themselves, or acted upon it based on Ombudsman order.

I complained to RBI 6 days ago. Does anyone know Turnaround time for RBI complaints?
 
Last edited:
Update: Savings account closed. Don't know if Nodal picked it up by themselves, or acted upon it based on Ombudsman order.

I complained to RBI 6 days ago. Does anyone know Turnaround time for RBI complaints?
You will get to know whether the action was taken by jupiter or Rbi .
When you will receive ombudsman reply ... it will be mentioned there .

It will take around 1 month for ombudsman reply
 
Update (hopefully the final update): Federal emailed with a confirmation of closure.

The action was indeed taken based on RBI BO complaint. I missed the email from Federal yesterday.

It took maybe 2-3 working days for RBI to reach out to Federal. It took a total of 24 hours for Federal to notify me on email (that they've received a BO complaint), and then actually closing the account today.

I had Rs 11 in POTs account, but total refund is Rs 23. Maybe there was some pending savings account interest.
 
Screenshot_20240519_031309_Brave.png
For a niche and new Neo Bank like Jupiter, having two complaint headlines on TF doesn't seem like a nice thing to happen to them.

Both complaints relate to the same product - POTs!
I want to escalate this further - both issues can be highlighted. I'm in half mind to make a post on their community forum. People must know.
 
View attachment 54155
For a niche and new Neo Bank like Jupiter, having two complaint headlines on TF doesn't seem like a nice thing to happen to them.

Both complaints relate to the same product - POTs!
I want to escalate this further - both issues can be highlighted. I'm in half mind to make a post on their community forum. People must know.
Yes , definitely they need some hard bamboo.
I have already escalated this issue.
They have not left any kind of issue ...ranging from re- kyc , pots freezing , account freezing , fd scam and what not ..
Though I have not much bigger motive of complaint .
None of the cases has happened to me .
Then also I would like to make them learn a lesson .

I would recall one line from chhichhore movie - " Loosers are trying to be choosers "
 
Yes , definitely they need some hard bamboo.
I have already escalated this issue.
They have not left any kind of issue ...ranging from re- kyc , pots freezing , account freezing , fd scam and what not ..
Though I have not much bigger motive of complaint .
None of the cases has happened to me .
Then also I would like to make them learn a lesson .

I would recall one line from chhichhore movie - " Loosers are trying to be choosers "
I think @TechnoFino sir should do something .
 
Update (hopefully the final update): Federal emailed with a confirmation of closure.

The action was indeed taken based on RBI BO complaint. I missed the email from Federal yesterday.

It took maybe 2-3 working days for RBI to reach out to Federal. It took a total of 24 hours for Federal to notify me on email (that they've received a BO complaint), and then actually closing the account today.

I had Rs 11 in POTs account, but total refund is Rs 23. Maybe there was some pending savings account interest.
Email id dedo, kaha kaha mail karna hai, mere pots me 15000 pade huwe hain
 
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.
Close hi kyun karna hai? Saare paise withdraw karo & uninstall. Kuch nahi kar sakte wo.
 
Close hi kyun karna hai? Saare paise withdraw karo & uninstall. Kuch nahi kar sakte wo.
Savings empty kar dia tha. But POTs me Rs 11 bacha tha. I wanted to forfeit it, but Jupiter wouldn't allow that and refused to close.

I got pissed off. TF join karne ke baad I have gained a new superpower - I know my rights and I know how to enforce them. *With least energy spent.
 
Email id dedo, kaha kaha mail karna hai, mere pots me 15000 pade huwe hain
https://jupiter.money/grievance-redressal-policy/
Yahan dekho.

Level 1 and 2 replied in negative. Level 3 and 4 didn't reply.

Then I wrote to RBI, then received reply from Level 4 (Federal PNO) based on complaint.

Mai to keh raha hun aap bhi RBI ko complaint karo.
It is a straightforward format, takes about 15 minutes. Bas emails ke PDF chahiye aur 200 word ka write-up.
 
Back
Top