Axis Bank credit balance refund issue

[iM23]

There's a negative balance on my Axis Bank credit card due to Grabdeals cashback. What I came to know from the community and also from the Axis customer care, the extra amount gets credited to the savings account within 7 days. But it has been 13 days in my case and still the amount has not been credited to my Axis savings account. Today, when I called the customer care, the executive said as this is Grabdeals cashback I cannot transfer it to my savings account. If and only if I pay excess from my side only then that can be credited to the savings account. Is this true?

 

[Robin Thakral]

There's a negative balance on my Axis Bank credit card due to Grabdeals cashback. What I came to know from the community and also from the Axis customer care, the extra amount gets credited to the savings account within 7 days. But it has been 13 days in my case and still the amount has not been credited to my Axis savings account. Today, when I called the customer care, the executive said as this is Grabdeals cashback I cannot transfer it to my savings account. If and only if I pay excess from my side only then that can be credited to the savings account. Is this true?

Haha, there lower support always try to decline your request or answer such things from their own mind.. but if you mail this to 2nd level officers. NO or PNO, they will transfer it on your request.. And other RBI guidelines states that by 2nd bill if there is negative balance and you have savings account, that amount will be auto transferred to it.

I have seen both scenarios in person.

 

[iM23]

any credit has to be transferred.. best way is to use it..load a. wallet or something and finish it off

This is exactly what I do when I have excess balance. The SBI Card app has an option to transfer excess balance to the bank account, but with Axis, we have to call customer support for a balance transfer, so I'll spend the money instead.

Haha, there lower support always try to decline your request or answer such things from their own mind.. but if you mail this to 2nd level officers. NO or PNO, they will transfer it on your request.. And other RBI guidelines states that by 2nd bill if there is negative balance and you have savings account, that amount will be auto transferred to it.

I have seen both scenarios in person.

I went to the page - https://application.axisbank.co.in/webforms/axis-support/index.aspx and connected via chat. They raised a ticket and within a few hours the amount was credited.

 

[yusuf646]

Even if I pay my barber by scanning his QR code, he is very unhappy that I have not brought cash.
Because everyone prefers cash.
So there is no question giving you cash without even making a profit on a sale.

Mumbai city centre

It's surprising to me why merchants in Mumbai prefer cash. In my city, all merchants love UPI. They all have sound boxes and hate cash due to the change issue & it's time consuming. Additionally, there's a fear of fake 500 rupee notes circulating in my city.

I have attached a photo of a fake note.

 

[doraemon]

Can I know where you're from? Because here, in my area, they're disappointed if I give them cash because they usually don't have change.🙂

What ..
In my city most or people prefer cash

It's surprising to me why merchants in Mumbai prefer cash. In my city, all merchants love UPI. They all have sound boxes and hate cash due to the change issue & it's time consuming. Additionally, there's a fear of fake 500 rupee notes circulating in my city.

I have attached a photo of a fake note.

Fake notes are increasing day by day
Meanwhile u can use that in offline markets easily
(I know it's unethical but it's upto you)

 

[yusuf646]

What ..
In my city most or people prefer cash

Fake notes are increasing day by day
Meanwhile u can use that in offline markets easily
(I know it's unethical but it's upto you)

But here, most people are primarily using cash to deposit it in CDM, and the CDM is swallowing the fake notes without returning them. Due to this, many unknown people are facing losses.

The perfect solution for this is UPI🔥🔥. Hopefully, they won't make UPI chargeable in the future.

 

[yusuf646]

What ..
In my city most or people prefer cash

Have you been able to find any specific reason for this? Do they lack trust in banks, or are they doing illegal businesses?

They didn't have any difficulty when 500, 1000, and 2000 notes were demonetized?🙂

 

[doraemon]

But here, most people are primarily using cash to deposit it in CDM, and the CDM is swallowing the fake notes without returning them. Due to this, many unknown people are facing losses.

The perfect solution for this is UPI🔥🔥. Hopefully, they won't make UPI chargeable in the future.

UPI is great as it's rewarding but for consumers
And not merchants
One incident
We had phonpe merchant qr
One person paid 3k through wallet
And as my father was unaware of wallet charge
We incurred 1% as processing fee
Also many people are paying with rupay cc
So that's a issue as well
(I know upto 2k free)

MDR and all these things are for big merchants
We small shop owners don't prefer all that

We already are paying 125 pm for this UPI ka dabba

Have you been able to find any specific reason for this? Do they lack trust in banks, or are they doing illegal businesses?

They didn't have any difficulty when 500, 1000, and 2000 notes were demonetized?

I will give example
We prefer cash over UPI
Because cash gives instant paper liquidity in hand
It does not get registered/tracked


I do understand fake not is a issue

But it can be checked using machine( we recently bought one cash counting/checking machine )

We pay our supplier in cash

For eg if we are earning let's say 4-5l a month only 0.5-1% is on upi/online
Rest is cash


And not only us
Most of people in my city prefer cash
Mainly due to tax fear
(My dad thinks if we accept upi we will be asked source )

Old shops don't have GST number and all

 

[yusuf646]

Fake notes are increasing day by day
Meanwhile u can use that in offline markets easily
(I know it's unethical but it's upto you)

By the way, we can easily distinguish between a fake note and a real note by observing a color changing windowed security thread.

Fake Note





Real Note

 

[doraemon]

It's good until u have 50-100 notes😃
Imagine u are counting 50l
How will u identify each note

That's why I prefer banks who understands customer and don't just create mess if one note turns out to be counterfeit (as it's not our fault tbh)

By the way, we can easily distinguish between a fake note and a real note by observing a color changing windowed security thread.

Fake Note





Real Note

 

[yusuf646]

UPI is great as it's rewarding but for consumers
And not merchants
One incident
We had phonpe merchant qr
One person paid 3k through wallet
And as my father was unaware of wallet charge
We incurred 1% as processing fee
Also many people are paying with rupay cc
So that's a issue as well
(I know upto 2k free)

MDR and all these things are for big merchants
We small shop owners don't prefer all that

We already are paying 125 pm for this UPI ka dabba



I will give example
We prefer cash over UPI
Because cash gives instant paper liquidity in hand
It does not get registered/tracked


I do understand fake not is a issue

But it can be checked using machine( we recently bought one cash counting/checking machine )

We pay our supplier in cash

For eg if we are earning let's say 4-5l a month only 0.5-1% is on upi/online
Rest is cash


And not only us
Most of people in my city prefer cash
Mainly due to tax fear
(My dad thinks if we accept upi we will be asked source )

Old shops don't have GST number and all

Merchants can disable all chargeable payment sources, and that's what all merchants have done here. I am unable to scan and pay using RuPay CC in almost every shop. Even big tyre dealers like Hi-Tec Tyres have disabled RuPay CC. 🥲

When I asked the reason, they told me their swiping machine charges only 1.5% for credit card, but UPI RuPay CC charges 2.65%, so they have disabled it. If I want to pay through credit card, then I should use the swiping machine.

I don't carry a wallet, so I used tap & pay through my phone using Google Pay and Axis Ace. I will get 1.5% cashback and hopefully an additional 500rs cashback (Axis Ace Tap & Pay Offer). 😁

 

[P B R G]

What ..
In my city most or people prefer cash

Fake notes are increasing day by day
Meanwhile u can use that in offline markets easily
(I know it's unethical but it's upto you)

In Bangalore it is opposite. I don't even carry my wallet when I go out because everywhere UPI/cards are accepted. Shopkeepers are even hesitant to give change if you give them cash and instead ask you to pay through UPI.

 

[yusuf646]

In Bangalore it is opposite. I don't even carry my wallet when I go out because everywhere UPI/cards are accepted. Shopkeepers are even hesitant to give change if you give them cash and instead ask you to pay through UPI.

Same here in Mangalore.