Jupiter: Review after a year

I opened jupiter account on 9th May 2022 today completed its first year.I would like to share this one year experience of using Jupiter.
The main reason i opened jupiter was that my debit card from bank of india was getting delayed alot,one day suddenly i saw an ad and i got interested then i opened jupiter account.
After opening the Jupiter account, I see that it is much better than my BOI account, better rewards, no branch visit , onboarding process was smooth and quick.
Early on I used Jupiter for transactions, and to be honest I used it more for Jewel and even then I didn’t have much money, not more than 4-5 thousand.

Features Then vs Now:
Then:
I remember when i opened jupiter there was -
Delay in balance update
No Super Pots
No Investment ( Mutual fund,FD,Gold)
No Bill Payments
No Mobile Number Change option
No Tax Statement
No Habits
No cheque book
No Nach payments
No international transfer
Only a typical savings and salary account.

Now-
Almost everything present and more on the way​:muscle::muscle:

Things i use in Jupiter -

Savings account for savings, upi transaction, POTS for small targets and use FDs as well.
Jupiter UPI and card for 1% reward, i had auto payments through debit card.
Electricity bill payments.

Things i don’t use in Jupiter -

Mutual fund: as i already have a demat account in Groww thats why I don’t use jupiter.

Digital Gold: I don’t like digital gold as with every buy 3% gst, sometimes prices are different from actual price and much more.

Prepaid recharge: Actually i prefer credit card for most of recharge as I recharge the mobiles of my neighbors, friends and many others.So if I do all the recharges through bank then bank balance will be low and if I do it through credit card I get reward point and that moment the money is not leaving from my bank.I also had Jiopos lite and i top up it through credit card.

Cons-

The annual charges on debit card. When i opened jupiter they said it’ll be free forever but now it is not. Although I don’t have any problem with charges.

Overall my experience with jupiter is great. I love jupiter and i am not going anywhere.

Everyone share his/her experience, we all are listening :ear::smile:

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Happy Anniversary Bro :confetti_ball: :confetti_ball: :confetti_ball: :rofl: :rofl:
The sole reason for me opening a Jupiter account was because of its theme colour :grin: :grin:, including the colour of its debit card. Orange :orange_circle: is my favourite colour, and the “spacefire” theme :jupiter: almost resembled of it. I opened my Jupiter account on November 14th, 2021, which happens to be Children’s Day :rofl:.

A technologically advanced friend of mine had opened his Fi account a day before and had suggested I open an account too. After he spoke at length about its features and how it was going to change the future of banking, I searched for more details about Fi by Federal Bank but ended up on the Jupiter website and app. Upon seeing the colour and design of the debit card (the first vertical debit card I had ever seen and ever had), I decided to go for a Jupiter account and recommended it to my family and friends.

During the early days, we mainly used Jupiter to earn Jewels :jewel: as the concept of joining rewards and jewels was a new experience for all of us. From 2021 to 2023, I am proud to have been a part of this wonderful product and consider myself lucky enough to have witnessed its growth :rocket: :rocket: :rocket:.

As Sujit Ghosh pointed out, Jupiter had a simple and humble beginning, and who would have thought that they would grow to be this large in the future with tons of innovative features such as Jupiter Pro, Salary Account, Digital Gold, Super Pots, Mutual Funds, Bill payments, and many more

I believe there are specific conditions for waiving debit card charges, and meeting them would result in no charges being incurred.

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@Surojit_Ghosh Nice review!
You’ve added things like - Use/Don’t use, likes & dislikes.

There are things that we’re working on which will make your experience even better :slight_smile:
I’ll pass this on to the team.

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But i think the digital gold is now kind of attractive as the gst amount is sort of compensated by jewels for ₹101 purchase (GST -₹2.85, jewel -₹2 so net tax paid is ₹0.85)

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I am already a pro user :sunglasses: for past 6-7 months.

I am sure you are already tracking this but please ensure you are a pro user for at least 6 months in FY 23-34. If the eligibility for charges is going to determined in Mar 24 then the consideration would the current FY

If you make a purchase for Rs. 101, as per 3% GST you’ll be charged Rs. 3.03. Additionally, there’s a difference of about 3% between the buying price and the selling price.

Well, I have not completed a year. I opened my account in Dec 2022.

Guess, I was lucky as the existing community members worked with the Jupiter Team during the time before me to introduce the features that made it a strong proposition for me to ditch my existing bank.

My biggest win by far with Jupiter is to be able to offer salary accounts to my employees. Has gone a long in building trust and confidence.

I extensively use credit cards for bill payments. Hence, I have not used the bill payment feature as frequently. On the occasions I have used it, the experience has been seamless.

I did start SIPs for Mutual Funds on Jupiter. I choose not to track my external portfolio here to avoid confusion. I like things separate.

On the debit card debate that ensued, I saw it more from Jupiter’s perspective as I also help my boss run his business. Having said that I respect everyone’s opinion on this.

Have been fortunate to be able to contribute towards the testing of the FD feature & revised investments tab feature.

I think 101 is inclusive of GST so you buy gold of 98.06 and pay 2.94 GST almost 3rs.
Although I agree on the spread and lower selling price.

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My experience is different you know. Always struggle and frustration. :disappointed: I use it to face frustrating loading and slow processes and after enjoying my indignation, I uninstall it quickly. I am not going against Jupiter nor opposing you, I am telling my personal experience. In fact, I prefer to use apps that are really fast and convenient. For examples -
I use Google Pay for UPI as it gives me better experience than other apps. (Apart from it, I do not keep any UPI app installed)
similarly I prefer to use telegram rather than whatsapp.
I use cred app for cashback but I don’t like it as it is worse than Jupiter app in terms of convenience for me. Although it does not process slowly as Jupiter App, So, I’m stuck with it.

:disappointed::disappointed: what can i say !

sgb s are better compared to digital gold

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I opened Jupiter account when it’s launch in 2021 i think… That time I’m looking for a bank account opening with video kyc … Because I’m fastread with my regular bank… that time government Marge my bank ( United Bank of India) , and it’s not working that time properly… Their dc, UPI not working properly… So i think to open a digital account… That time there was only 2 account offering lifetime free DC , fi and Jupiter… I saw Jupiter offers that time 500 jewels per month… So i opened Jupiter…
And one good thing with Jupiter i don’t need the addhar link mobile number as a banking number… I can choose any number… Because my addhar card linked with my mother number… I know that time Jupiter gives me 200 j for sign-up 25 for email verification, 25 for loading money and after video kyc i received something 250 j …

I also received 500 j for some months, and also received 150 for 5 subscription… And many more offers… That time federal Bank offering only one account per person… Then fi announced Jupiter people can open a fi account as well… Then next month i opened it also…

One good point about Jupiter it’s giving you real money as jewels ( 1j = 1 INR) …
It’s really good thing for Jupiter

When i open Jupiter account there was no other option like investment, superpot , fd , pro , credit report, salary account, bill payment, self transfer, their was only Jupiter upi …

To open jupiter we all need Aadhar linked number for sure.
I referred my brother but his account opening process failed, after contacting jupiter team finally they said we need Aadhar linked number to open account.

@Shawnpinto can you confirm which one is correct?

No , you need just the OTP for addhar authentication

As my jupiter phone number was aadhar linked number so i did not faced any problem during onboarding.

Only Neo bank offering any number as your registered mobile number… like fi , Jupiter, niyox…

But when i tried with traditional Bank like sbi , ICICI, au , NSDL payment… They saying only addhar linked mobile number can be used for banking number

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Not all traditional banks, in IDFC doesn’t required aadhar linked number to be banking number. The aadhar linked number needed just for otp verification.

In 2022 I already had 3 Accounts, but for any simple Request like even for Debit card was need to visit Bank. That time I was really need a Bank account like Jupiter.

I opened Account with Jupiter by seeing CashKaro’s Offer in June 2022. I searched about Jupiter on YouTube (never heard about FI still January 2023) Opened account because its procces was so simple (without VKYC). Then after using for 1 week i noticed that Jupiter was tracking my other Bank Account balances (I was unaware about this is one of main feature😅). I was start feel kinda Uncomfortable with this because Jupiter was Tracking my Transaction, balance etc. And also found that, one of youtube Influencers was negatively talking about same that he also feeling uncomfortable about this. So i also sacred, and Uninstalled Jupiter. Then, after in Feb 2023 i recieved msg from jupiter for completing Full VKYC. Then i again searched about neo banking and, then i understand and got known everything about Neo banking. Then i felt comfortable to download Neo banking but i was using Jupiter as just Extra account without any transactions. After some weeks I got known about JUPITER COMMUNITY. Then feel too much comfortable to use Jupiter then completed my Full KYC with Jupiter and become Pro Customer, And i have also tried Mutual fund SIP in this month. (I loved that i can skip SIPs and also there is no charge).

Conclusion- COMMUNITY had played big roll to retain with Jupiter and permanent customer. If I hadn’t visited the community that day, I wouldn’t be using Jupiter today.

For Neo banking 2nd point is that, Customers should know what is NeoBank and how it works and how funds are safe with them. What different features they have and how they work.

Because of i was unaware about all so , I was uninstalled Jupiter from June to Feb. - I missed lot in this gap :neutral_face:.

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IDFC means your choice account… Like starting with 15 then any 10 number ?

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