Jupiter Debit Card Charges

Time to close Jupiter

1 Like

POV - This is why I like Fi
Recently Fi also updated their policy regarding annual fees so I thought it was a scam similar to Jupiter
Then I contact them through support

You-
I am an old customer of fi but do I still have to pay the debit card annual fee or is it only for new customers?

Fi support-
As checked the details, your account was created on Feb 2022, Users onboarded on Fi before 19 Feb 2023 get a free physical debit card. So for your current debit card is free also you won’t be charged Annual Maintenance charge however if you apply for a new debit card then you will be charged for physical debit card which is 199+GST and Annual Maintenance charge which is 199+GST

At least they are true to their words

6 Likes

I invest 5000 in mutual funds every month through Jupiter so its like autopay. Will I have to still pay the annual charges assuming i dont spend my money anywhere else?

2 Likes

This won’t be counted, Devansh.
It has to be Debit Card spends on merchants.

jupiter should not charge annual fee for virtual debit card

3 Likes

No other bank neo has charged annual fees for existing customers like jupiter bank. F i money, Niyo sbm, Hop money They all have zero annual charges. Then how would they manage their business.
2nd thing why would you have a community. Before implementing something you should have discussed it with community members. Many members spending on this community is helping you to build jupiter bettter by wasting their precious time. Also if you imoplement AMC then what is the difference between you and a traditional bank. What is the gurantee that jupiter will remove zero balance facility in future.
@Shawnpinto

2 Likes

@Tanvi_Agrawal As of now, I have not received any communication from your end.

2 Likes

Hello @Shawnpinto
I know how a business :sunglasses: run ,
I know it’s not possible to bear debit card fee for next few years , somehow you have to get the card fee .

Now , you’ve updated your terms and conditions, that should apply to only new members …

Like ,look if the biriyani price is let’s say 200 when you pay for it and sit for eating, and before eating you’re saying that the rate has changed…
Rate may have change but not for ongoing, eating customer. Right ?
Do you agree?

Now you’re taking same fee as traditional bank offers , so what’s your usp ? Why would I use your card ?

I have 7 credit card ( 6 LTF) one paid , That one paid card provides me premium benefits as well.

Provide facilities, people will give you money …
Customer acquisition cost should from your end not from customers end …

I got it you won’t may it free , No problem …
Give us benefits worth the paying fee …
Coupon, railway access, high limit, nfc to gpay options, and lots more …

We the members of the community will step up those features and :bulb:

2 Likes

I love Jupiter application and it’s customer focused services.
In view of betterment of both customer and bank. The decision of charging for virtual debit card is not beneficial because no bank charges it’s customers for virtual services.

1 Like

@Saket_Kattuboina Can you please check this?

While I understand that you may have considered ways to keep the card LTF but ultimately had to impose charges, I believe that if changes are being made, there’s an opportunity to introduce some valuable upgrades to the card. These upgrades could incentivize customers to continue using the card or fulfill conditions to keep it free of charges. With the right upgrades, people might even be happy to pay the charges, and that’s a win-win for everyone! I’m super stoked to see what new features you come up with for the card. By the way, I just wanted to give you props for creating such an awesome platform for the community to connect with you guys. It really sets Jupiter apart from other startups. Here’s to your continued success and growth!

5 Likes

Second your opinion.

Other don’t charge - may be few of them won’t survive
Traditional banks don’t charge bcoz they have minimum Bal and quarterly penalty on not meeting bal conditions.

At Jupiter, AMC waiver conditions are quite liberal . If someone can’t afford to spend 2k a month on card or maintain 10k NRV, not sure whether we can ever sustain platform with that customer base. As I always say that choice of platform is always with customer.

4 Likes

Dear @Jiten Sir,

I am writing to bring to your attention a concern regarding the communication sent out to customers regarding the new debit card charges. Despite being told by the team that all users should have already received communication regarding this matter, I have not yet received any communication from your end.

While I am already aware of the charges, I am concerned that there may be other users who are also left behind who are not aware in this regard. I believe it is important that all users should receive timely and accurate communication from the company.

Thanking You

2 Likes

i too haven’t received any mail from jupiter

2 Likes

me neither

1 Like

I believe the Email communication is still being rolled out, it should come folks.

To add to this, my own Jupiter debit card is not working in ATMs since yesterday.
Yesterday I assumed it to be temporary ATM issue and didn’t have other cards handy to verify.
Today tried in multiple ATMs of different banks, other debit cards are working but not Jupiter.
SBI ATM even gave an error code of 073- Routing Loopback.
I’ve cross-checked the app for any unwarranted “sleep” mode but it’s active there, so shouldn’t be any issue.

Debit card is still not working in ATMs, it’s been 4 days since.
Every ATM ia giving the same error.
Anyone else facing/faced this issue ?

Maybe you’re facing the error due this ongoing maintenance :alert:

I think Jupiter is doing some upgrades to debit cards as they’re going launch the NetBanking

2 Likes