@razack yeah, I saw the reviews later.
@alexnazy maybe a little. but what dies this have to do with Jupiter account?
The card design though
@razack yeah, I saw the reviews later.
@alexnazy maybe a little. but what dies this have to do with Jupiter account?
The card design though
Jupiter - Federal Bank has a history of blocking accounts with crypto transactions. I suppose not all crypto users are blocked though.
No, I mean there is no crypto transaction involved.
Your rewards after spending on that X card will be either in crypto or gold. You have to load the card with UPI which is basically a prepaid card.
Oh OK… Yes. I remember seeing it on their website.
Still it is associated with crypto and in India, banks are staying away from crypto. So better be careful - In case there is an option to sell the crypto and transfer the money to the bank account.
Ideally, that should also come to the card.
But after checking the reviews, I don’t feel like trying it.
No , West Bengal haven’t any branch of ESFB .
My home branch in Tamil Nadu also .
But the branch manager and stuff is too much helpful, not like any Neo Bank… They consider me as a account holder of ESFB, not like a Neo Bank account holder… Because they have the physical branch.
But Niyox service is not customer friendly. They frequently change charges like literally every half year
Is it possible for us to change out Jupiter A/c branch?
Don’t think so.
In reality, Jupiter itself is not a bank and their presence is actually ‘virtual’ and there is only one ‘branch’ common for all users.
@animeshsen Any particular reason(s) for them stopping their services there?
I have no idea; I just tried for the first time and got the message on the app.
There are a lot of cases of cybercrime originating from Kolkata. Additionally, Kolkata is the second hub for cybercriminals after Jamtara (Bihar/Jharkhand). This might be a reason, but I can’t confirm it. Also, previously, Niyo Global, Dhani and other apps stopped onboarding in some pin codes of Northeast India and Jammu-Kashmir
Refs.
But it’s just a savings account and the federal bank operating well in Kolkata. I am just wondering what is stopping them.
Didi😂
Even though the bank has a branch in a particular city, their risk assessment may be different for fintech startups and physical businesses. Additionally, Fi has its own policy regarding customer acquisition. We recently heard that Fi has decreased their acquisition speed and is now onboarding customers only with a good credit score. This might be a reason apart from that I’ve mentioned earlier.
Its not because of credit score I am sure.
The article goes on to mention that the fintech firm has faced significant obstacles in fully executing its credit strategy due to the lack of a smaller base of creditworthy customers, and a depleting cash runway.
Adding to these challenges, the company has implemented substantial reductions in customer acquisition spending, resulting in a tenfold decrease in the number of new savings account openings.
It was already shared by @alexnazy
“Startups including Peak XV-backed neobank Jupiter also explored an investment in a bank earlier, according to another person familiar with the matter.”
"The deliberations have intensified in recent days after Bengaluru-headquartered Slice received a rare approval from the Indian central bank to merge with North East Small Finance Bank.
The Reserve Bank of India made its guidelines clearer last year, forcing many fintech startups operating in lending and card issuance categories to rework their approaches. By granting the merger approval to Slice, the central bank has helped pave the Indian fintech to chart a new future for itself."
Demand for a piece of the Small Finance Banks are at an all time high.