Axis Bank debit card restricted merchants, may close account if transacted...

[xfactcc]

I received this email today, see the photo...

Does this seem legit? Can a bank do that?

 

[6ix9ine]

I received this email today, see the photo...

Does this seem legit? Can a bank do that?

Yes, it's legit, banks can indeed do that. Those MCCs are highly restricted.

 

[xfactcc]

Yes, it's legit, banks can indeed do that. Those MCCs are highly restricted.

So, those businesses legitimately exist, yet cannot accept debit cards from bank's sides... so how will people transact for those services?

 

[6ix9ine]

So, those businesses legitimately exist, yet cannot accept debit cards from bank's sides... so how will people transact for those services?

UPI
Netbanking
Skrill
PayPal
Crypto (LTC, ETH, USDT, BTC)
…and many more.

Same goes for credit cards, all are blocked due to reward abuse.

There is too much info to explain regarding your “legitimate” question, but to keep it simple and understandable for you:

Banks don’t want to be held responsible for misuse by minors, which could draw unwanted attention from the government.