Jupiter Debit Card Charges

Waiver or Non-waiver. I like Jupiter. Now my primary account for all transactions is Jupiter too.
Hope you people make the experience more smoother than before. :slight_smile:

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Initially, I was like you using Jupiter as my primary bank

After above two experiences, I changed my opinion and understood that Jupiter have to develop a lot. Especially in terms and conditions of 1% cashback (only reason for using Jupiter/Jupiter debit card and maintaining NRV of 10k) which are no where available to read and understand even Jupiter customer care also not aware (once go through 1st link) and bugs where sometimes, users(like you and me) have to pay some price because of a bug in the Jupiter app (once go through 2nd link).

I am not asking you to change your mind, but you should be aware of this. Else, you may end up like me.

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“Become a PRO or Salary Account user for any 6 months”

“we would charge them only in March/April 24. Not charging immediately. FYI”

Everyone here joined your banking platform because of 0 service cahrges on bank acount and debit card. Jupiter was initially marketed that way. Now all of a sudden we are being introduced to PRO, charged debit card and now ANNUAL FEE? seriously you guys are going to lose a lot of customers, physical banks >>> neo banks.
Remember that.

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Yeah agree. There are lot of bugs for sure.
Good chances they might even discontinue the 1% rewards in coming days.
I am using it to route my all transactions so that I can have insights for ally spends.

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Which platform are you using now?

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UPI - Amazon pay/Google pay

Bill payments / online shopping - Initially only Jupiter debit card but after that experience started using onecard also.

@here, While everyone has expressed their opinions (good, not so good, agreements and disagreements), we should, absolutely should, remember this - very few companies engage with their customers, seek their inputs on product development and way forward. Again, before any one decides to pounce, i am saying very few companies do that. And the companies that do it, drive this as top down approach - meaning the founders are passionate about the building the community, taking them together in the journey. We are given this opportunity here. Let’s use it to help Jupiter build a sustainable, long term business. Feedbacks are necessary and they make a difference when they add value, not when they’re vindictive. As a community, humbly request everyone to Focus on value addition.

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Hello
This thread was created on 26th March. You’ve replied this information on 6th April.
I said it in my previous reply, why is everything changing silently. The customer care has no idea on this at all. I had to screenshot from the website and share with them.
And proactiveness, I realised about AMC 5 days after it was added to the Jupiter and bank charges page. And it took you 10 days to convey this. 10 days. Was none of this planned? Or did the team assume people will understand it like you assumed everyone will be a salaried professional.

Secondly, when features for debit card do not work, paying AMC for it is just absurd. I have explained it previously, and I am not going to write it all again.
This whole situation is like buying a car, which has lots of problems, and the company instead of fixing them is charging for heating seats.

And again, why are you changing everything so silently? The charge was added silently, the terms changed silently. And like I mentioned before, even other charges gets changed silently. Txn decline at ATM, incorrect CVV, incorrect PIN etc, all of them were upto free 5 instances, but were reduced to only 2. Again, no notification. It just feels like you want to catch people off guard.
Not to mention your upcoming subscription model for another membership tier or something being built right now.

I am asking you to be more transparent, proactive, and importantly, first finalize what you want to do internally and then let people know. Plan everything, not just push everything that gets built. As I said before, it’s baffling how customer care has no idea about it.

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What do they mean by applicable merchant spending??? they didn’t even specify it properly.

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ITS better to use credit cards for such transactions

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Please don’t mix them up. There is a significant difference between Fi & Jupiter charges. Fi introduced the charges only for new customers. That’s understandable. You provided free goodies earlier but now you don’t do anymore. But Jupiter brings it for all customers, both new and existing. That’s cheating. It’s like advertising free lunch and now in the middle of the lunch, you are asking to pay. Thus forcing your existing customers to pay or leave. I used to keep more than 10k for pro benefits. But one assurance was that since there are no charges I could pull off the money anytime I need. That is a peace of mind. But now things have changed.

Regarding my personal decision. Since Jiten said the charges will only get levied in March 2024. I will wait till year-end for these charges reversal or at least make them free for customers who joined in 2022 and earlier. If none happened I will close my account. It’s not about just money. It’s about ethics and dignity.

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One more point to add. If this is the case how exactly is Jupiter a neo bank, which doesn’t have physical branches and saves money on that etc. And what exactly is the difference between neo banks like Jupiter and physical banks like IDFC First Bank? That also gives a free debit card, with no other account or transfer charges, and better interest as well. only if you maintain a minimum balance of like 10k or 25k. What’s the whole point of neo-bank then?

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Totally agree aith you arka.
It’s not about the charges. It’s about ethics.
If one doesn’t stick to their own words, customers won’t trust you anymore.
From now on, customers will think twice before subscribing any products if they say even if there are no charges as they keep on swallowing their own words.

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also there are many better debit cards compared to jupiter’s like hdfc millennia debit card though it has a higher amc offers are also great if users have to pay for debit card why not going for a traditional bank like hdfc for better offers.

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After going through all the replies here, I do think that charging annually for a virtual card is one of the most absurd ways to generate the revenue. That too after claiming for almost 2 years that the issuance fee for the physical card will be one-time and not annually charged. This move creates Trust issues between the brand & the masses. A very bad move from the customer POV ! Similar to the devaluations done by the banks for their respective Credit cards, this Jupiter move tells the masses that they’re no other than the traditional banks & can make or break any rule which generates profitability for them.
Although I’m a pro user from the very beginning & was a part of the Jupiter when it was in the Beta stage, this step by Jupiter right here dents it’s image straightaway.
Hoping that atleast the Virtual cards are left alone from these baggage of charges !

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Also, last time @Jiten said users won’t be charge for both the virtual and physical card. But in the website it mentioned as annual fee will be applicable for both the card. There’s lot confusion :confused:

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Hi everyone,

My name is Tanvi Agrawal and I’m part of the Debit Card team at Jupiter. I wanted to answer some of the queries and shed some light on this move:

  1. Eligible merchant spends: Almost all non-ATM spends (online and offline) are included in the 25K waiver. The only exception are financial payments (like credit card or loan repayments), wallet recharges etc. The full list is part of the Terms & Conditions and I’ve also pasted it at the end of the post for easier access for you.

  2. I can see that there is some discomfort around charges for virtual card. While we understand the perception, I’ll try to explain the logic: from the bank’s perspective, cost of providing and maintaining services for a debit card remain the same, irrespective of whether it’s physical or virtual. Whether the card is in plastic form or not has nothing to do with the maintenance cost. If you use your virtual debit card and spend around 2K per month, there won’t be any charges. We believe that this is a fair ask for a business-user relationship.

  3. Regarding the lack of communication, the intention was never to do it slyly. Email communications have been ready for more than a week but we were waiting for our Customer Support team to get trained to handle the queries properly.

The emails have started going out from yesterday in batches and will be sent to 100% of the base within the next 7 days. We wanted to update the website and app FAQs before sending out the email so that users do not find any discrepancy between the email and ‘fees and charges’ on the website. But we did not anticipate that users would discover the charges on the website on their own without any communication!! :slight_smile:

Most importantly, there is no charge for the next 12 months! And you can always avoid paying the fee by spending INR 2000 every month :slightly_smiling_face:

Note:

“Qualified Merchant Spends”, refers to all the Non-ATM spends done through your Jupiter Debit Card are qualified as Qualified Merchant Spends except the list mentioned below:

** Credit card, loan, or buy now pay later repayments*
** Online gaming, betting, or lottery transaction*
** Money transferred to financial or political institutions*
** Payments made at courts or for legal matters*
** Money transferred to digital wallets, and*
** Transactions made at restricted merchants (which don’t strictly qualify as “purchases of genuine goods and services”)*

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Iam writhing this after hearing new debit card charges in jupiter bank account. I want to convert my existting jupiter savings account to BSBDA scheme. Read RBI circular here. https://www.rbi.org.in/commonperson/English/Scripts/FAQs.aspx?Id=1289 In question no 27 RBI clearly mentioned about converting normal savings bank to BSBDA accounts. I think jupiter follows rbi rules. So tell me how can i convert my account to BSBDA account. If jupiter didnt give a facitily to convert my account to BSBDA scheme i will file a compaint at RBI ombudsman

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Thanks @Tanvi_Agrawal for putting up a clear explanation why you people are charging for the debit card.
The amount charged for debit card is fair, I agree. Even negligible.
But we members on the community forum are just bothered about is Jupiter charging it when you people have mentioned it is just a one time fee and going back on your own words. It dents the trust of a customer.
You people would have charged the newly onboarded customers like Fi is doing it. That would be fair and square.
Or else, it’s no big deal.

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Hi Unnikrishnan,

Please raise a request by sending an email to contact@jupiter.money or, reach us via the Chat feature on the app. We won’t be able to take the request from the community forum here.

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