- 1 IDFC FIRST Bank
- 2 Card for First Private Debit
- 3 Create an online IDFC First Savings Account
- 4 Features & Advantages: a whole glance
- 5 Card feel and look
- 6 Cons
- 7 Application Knowledge
- 8 QUICK BUY EMI
- 9 Benefits and Features:-
- 10 Benefits & Features of the Visa Signature Debit Card
- 11 Money-Back Deal Upon Activation
- 12 Free access to airport lounges
- 13 Special Visa Deals for you
- 14 Birthday Present
- 15 Bottom-line
- 16 FAQ’S
- 16.1 What choices do I have for setting limits on my Visa Signature Debit Card?
- 16.2 Do signature debit cards given to minor savings accounts have any limit options?
- 16.3 Maximum daily withdrawals from ATMs are $10,000, while maximum daily purchases are $10,000.
- 16.4 What fees apply to transactions made abroad?
- 16.5 Are taxes going to be charged on my international transactions?
- 16.6 What is the maximum withdrawal from my ATM allowed per transaction?
- 16.7 IDFC Bank: Is it reliable?
- 16.8 Does the IDFC First Debit Card grant access to lounges?
Why You Need a IDFC PRIVATE DEBIT CARD EXPERIENCE”
For customers who are a part of the Bank’s FIRST Private program, a premium savings and wealth offering, FIRST Private Infinite is a lifetime free card. Customers can take advantage of a variety of great investment, banking, lifestyle, and wellness perks through the FIRST Private program, which provides unmatched banking and investing experience.
FIRST Private Infinite, a statement-style black card with details engraved in silver, is made of a hybrid metal and designed to provide a premium payment experience. In keeping with its premium positioning, the FIRST Private Infinite debit cards perks are specially selected for premium cardholders and include free domestic and international lounge access for cardholders and companions, unmatched insurance coverage, a roadside assistance program, and access to golf courses across the nation.
Head of Retail Liabilities at IDFC FIRST Bank, Amit Kumar, stated, “Customers prefer metal cards because of their unique appearance and texture. With our FIRST Private Infinite debit card, consumers may make purchases in opulence and flair. It is designed to be distinctive and contemporary, and it fits with the FIRST Private program’s exclusivity. FIRST Private Infinite raises the bar for quality and perfection in our card portfolio as the first metal debit card in the sector.”
Visa’s Group Country Manager for South Asia and India, T. R. Ramachandran, stated: “With the FIRST Private Metal debit card, IDFC FIRST Bank has a sophisticated debit offering that we at Visa are thrilled to support. The power and promise of the Visa network and brand, along with a selection of carefully chosen benefits and experiences in the areas of travel, health & insurance, eating, entertainment, and lifestyle, are sure to appeal to wealthy Indian customers and households. We anxiously anticipate the introduction and expansion of this ground-breaking card program.”
In addition to a simple online account opening process, video Know Your Customer (KYC), and a cutting-edge digital platform for mobile and net banking with an intuitive user interface, IDFC FIRST Bank offers a full digital savings account solution. Customers can access the Bank’s digital wealth management solutions on the mobile app and net banking platform, which come with special features such as a “Consolidated Investment Dashboard.”
To be eligible for this card, IDFC First Bank asks you to join its First Private Program by maintaining a minimum NRV (mainly from investments) in the range of 50 Lacs, which is high by any measure. The place and time may have some impact on this.
“I have learned from top officials at IDFC Bank that the First Private Program is available with a savings account AMB of at least 50 lacs and more,”
A few distinctive alternatives include pre-listed and pre-IPO equities, bonds, PMS, AIF, offshore investments, real estate investments, etc. Investment options are varied.
You are entitled to several lifestyle perks through the program, including 1 free locker (based on availability) and many more.
IDFC FIRST Bank
With a balance sheet of Rs. 1,72,502 crore and customers in over 60,000 villages, cities, and towns spanning the length and breadth of the country, IDFC FIRST Bank was founded in 2018 through the merging of famous infrastructure financing institution IDFC Ltd. and top technology NBFC, Capital First. In a short period, the Bank has grown to include 599 branches, 185 asset service centers, 720 ATMs nationwide, including 99 recyclers, 630 rural business correspondent centers, a next-generation net, and mobile banking platform, 24/7 Customer Care services, and gradually expanding digitally. The goal of IDFC FIRST Bank is to offer India high-quality banking at competitive prices. The Bank additionally provides corporate banking with technology.
Card for First Private Debit
Utilize their wonderfully constructed FIRST Private Metal Debit Card to enjoy a premium payment experience. The card has special offers and exclusive features created just for the elite.
- Free admission to the lounge for you and a guest
- Unparalleled insurance advantages
- Enhanced withdrawal and transaction limits
- National golf access
- Premium lifestyle perks
Features & Benefits of the IDFC First Savings Account
- Earn Savings Account Interest of Up To 7%.
- 6% for balances under 1 lac and 7% for those over.
- At 7.5%, FD interest is very competitive.
Create an online IDFC First Savings Account
- Click to Open A Savings Account.
- Enter your name, phone number, and email address and click “Start Now.
- Next, enter your Aadhaar number and press Proceed.
- Your mobile number associated with your Aadhaar will receive an OTP.
- Enter the OTP and confirm.
- Fill up your basic information and the transfer amount.
- Account successfully opened; your address will receive a debit card.
Features & Advantages: a whole glance
This debit card has a few features that are firsts for the industry:-
- Beautifully fashioned from a composite metal with silver-etched embellishments
- Unbelievably high daily ATM withdrawal and purchase limits of 10 and 15 lacs, respectively
- Access to 4 domestic airport lounges each quarter with a guest (making it 4+4), with a 2 INR per visit fee.
- Six visits to an international airport lounge each quarter (paid at 32 dollars; refunded in 10 days). You can access it without an app or Dream Folks card. New!
- Free we live membership that functions similarly to a mini-Times Prime subscription (benefits include a huge basket worth $250, 3 months of Amazon Prime, 6 months of Pharmacy, and a few more memberships, as well as discount vouchers for a few businesses). This perk is available with both the Wealth Credit Card and Wealth/Select Debit Cards.
- Free ID Sentry subscription (Protects your cards from ID theft). Debit cards Wealth and Select also provide this advantage.
- Attractive insurance coverage for the cardholder: Air Accident Insurance Coverage of $5 Million, Personal Accident Coverage of $1 Million, Lost Card Liability Coverage of $15 Lacs, and Purchase Protection Coverage of $2 Lacs (At least one POS transaction of at least $500 must have been made in each of the three months immediately preceding the incident month).
- No-cost Roadside Assistance
- One free round of golf per month at affiliated clubs across India
- Too much time has already passed from the commencement of the up to 10X accelerated reward points program on debit cards (details were only available in program/card promotions).
- Visa Infinite benefits
Card feel and look
The card is exquisitely constructed and finished, with details in Silver and a statement Black hue. The name appears on the front, and the card number appears on the reverse.
Be prepared to keep your hand and card extremely straight in the ATM because the card has a metal form factor and is sufficiently rigid to cause operating problems. You could believe the card is thick, but any metal card will operate like this.
- A 2% markup fee for international e-commerce or point-of-sale transactions. Even the Indusind bank Exclusive debit card offers NIL markup fees (needs merely 1 or 2 lacs AMB depending on area).
- There are no EazyDiner offers, which are a minimum necessity for all cards these days, including Semi-Premium/Regular cards.
- Surprise! A card with this status only offers the Visa Infinite offer as a cinema reward. Every month, a BookMyShow voucher worth around $1,000 should have been supplied (at least to Primary cardholders).
- In contrast, the majority of Axis, AU, Indusind, and Yes Bank’s premium debit card offerings—or, for that matter, their semi-premium/regular debit cards—offer B1G1/50% off up to a variety of values.
The onboarding process began but took a long time after the requirements for onboarding were satisfied by starting enough investments and finance.
It makes sense that a newly launched product will have some growing pains, but we can only hope.
QUICK BUY EMI
Introducing a clever and simple method for buying the consumer goods you want. Use the EASY BUY limit that has been pre-approved on your debit card at specific merchant locations.
Benefits and Features:-
- Low-interest rates, a fully paperless experience, and no blocking of account balances
- A loan is available for as little as $2,000
- Options for flexible repayment terms Easy payback through your IDFC FIRST Bank account for 3, 6, 9, 12, 18, and 24 months.
Benefits & Features of the Visa Signature Debit Card
- Receive Rs 250 back in cash each month when you see movies, plays, or events on BookMyShow.
- On or before the fifteenth of the next month, cash back is processed into savings accounts.
- Personal accident insurance includes a free 25 lakh rupee death or permanent disability benefit.
- Free ATM transactions at any bank and on any network, as well as twice-quarterly free access to airport lounges in key cities
- A free, lifetime Visa debit card comes with every account. Minimal, upfront fees
Money-Back Deal Upon Activation
When you use your IDFC FIRST Bank Visa Signature Debit Card for your first transaction and spend Rs 1000 or more, we’ll pay you 10% back up to a maximum of Rs 250.
Free access to airport lounges
- For holders of IDFC FIRST Bank Visa Signature & IDFC FIRST BANK Visa Business Signature cards, each calendar quarter is limited to two complimentary accesses at most.
- In addition to the free entry, cardholders are also entitled to unlimited (chargeable) access for themselves and any visitors they like to bring with them.
Special Visa Deals for you
- Get amazing discounts at specific online and offline retailers when you use your IDFC FIRST Bank Visa Signature Debit Card, provided to you by Visa.
- Discounts on Food & Beverage, Wellness – Spa & Gym Subscription, Pharmacy, Diagnostic Centers, and Online purchases are available with the IDFC FIRST Bank Debit Card.
- Use your IDFC FIRST Bank Visa Signature Debit Card, provided to you by Visa, to take advantage of amazing discounts at several online and offline retailers.
Spend $5,000 or more during your birthday month to receive a $250 gift voucher that can be used at Amazon, Shoppers Stop, or BookMyShow. The voucher will be mailed out before the end of the following month.
The interest rate on this bank’s savings account is excellent. Despite being a new bank, it gives its clients good deals. The IDFC First Private Program is created with the needs of its wealthy HNW clients in mind who have little to no time to maintain their investment portfolios. The product is designed to meet the needs of a restricted group of extremely wealthy people.
This product complements people who meet the aforementioned investment requirements because obtaining this special debit card is extremely difficult due to the rigorous onboarding eligibility requirements.
Additionally, the lack of NIL markup fees, BookMyShow/eazydiner deals, and reward points on purchases is disappointing.
The majority of the perks are accessible on the IDFC Wealth Debit card as well, despite the card having respectable benefits as described above. Therefore, IDFC did not even come close to offering 3X of what the wealth debit card offers for the 5X greater investment required.
What choices do I have for setting limits on my Visa Signature Debit Card?
You have the option to establish limits for both purchases and cash withdrawals while using the IDFC Visa Signature Debit Card. You have a maximum limit set depending on the variation of your signature debit card.
Do signature debit cards given to minor savings accounts have any limit options?
Yes! A Visa signature debit card issued to a Minor savings account has the following unique limits that you can apply:
Maximum daily withdrawals from ATMs are $10,000, while maximum daily purchases are $10,000.
If a Signature Debit Card is issued to a minor, only domestic limitations will by default be enabled. By entering their Net banking accounts or using a mobile application, customers can set their limitations within the overall limits.
What fees apply to transactions made abroad?
A 2% markup fee will be added to any foreign ECom or POS transaction made with an IDFC FIRST Bank debit card.
Are taxes going to be charged on my international transactions?
All LRS international transactions, such as withdrawals from ATMs, POS transactions, and online purchases made from foreign merchants or websites that enable Dynamic Currency Conversion (DCC) transactions are subject to taxation at the source at the applicable rate set by the Indian government. The information is available here.
What is the maximum withdrawal from my ATM allowed per transaction?
Your debit card can be used to withdraw up to INR 10,000 per transaction from ATMs that are not owned by IDFC FIRST Bank. Up to 40 notes/transactions can be withdrawn from ATMs of IDFC FIRST Bank (the final amount may depend upon the available denomination and your daily withdrawal limit)
IDFC Bank: Is it reliable?
The deposits are AAA certified by CRISIL, which is the highest level of safety, which is the second thing to think about.
Does the IDFC First Debit Card grant access to lounges?
Benefits of Airport Lounge Access Your IDFC FIRST Bank Visa Signature Debit Card grants you free access to airport lounges across India, upgrading your travel experience.