axis magnus insurance transaction query

[pulkitpopli2004]

I made a transaction of 1.30L for insurance payment. for which i received 6000 Edge reward points.

But due to insurer backend issue, this amount should have been 1.21L which they later accepted and given 9k refund to my credit account. And with this 9k refund they also deduced the 540 Edge rewards points.

So in total i spent 1.21L but received 5460 Edge Rewards Points. i raised a query with Axis bank and they confirmed this is how they handle refund and 540 points cannot be reverted.

Have you faced similar scenario? should i escalate this to get those 540 points or they are correct?

 

[navonline7]

This is chindigiri, nothing else. Per their capping rules for insurance transactions, you are still eligible for 6k ERs.

 

[Lord Of Darkness]

This is worth fighting for. Even i think you should be getting 6k points.

I made a transaction of 1.30L for insurance payment. for which i received 6000 Edge reward points.

But due to insurer backend issue, this amount should have been 1.21L which they later accepted and given 9k refund to my credit account. And with this 9k refund they also deduced the 540 Edge rewards points.

So in total i spent 1.21L but received 5460 Edge Rewards Points. i raised a query with Axis bank and they confirmed this is how they handle refund and 540 points cannot be reverted.

Have you faced similar scenario? should i escalate this to get those 540 points or they are correct?

 

[pulkitpopli2004]

yes. raised a query again with them. lets see where it goes. For escalation, any email id to connect with axis support team?

 

[quest4excellence]

yes. raised a query again with them. lets see where it goes. For escalation, any email id to connect with axis support team?

premium dot experience at axisbank dot com

 

[pulkitpopli2004]

Status update -
"We would like to inform you that the partial transaction is canceled hence the points are debited.

Please ntoe the debit is genuine and as per bank policy, hence 540 points cannot be reversed."

This was the response from Axis Principal nodal officer. So nothing can be done.

 

[CMG]

Status update -
"We would like to inform you that the partial transaction is canceled hence the points are debited.

Please ntoe the debit is genuine and as per bank policy, hence 540 points cannot be reversed."

This was the response from Axis Principal nodal officer. So nothing can be done.

send the mail to premium.experience again.

Can you please share what you have sent to them?

Spoiler: Sample using chatgpt

Subject: Discrepancy in Edge Reward Points Allocation and Request for Immediate Resolution

Dear [Customer Support Team / Concerned Department],

I hope this message finds you well. I am writing to express my concern over an issue I have recently encountered with my account, and I expect this matter to be addressed professionally and promptly.

On [Date], I made a payment of INR 1,30,000 towards my insurance premium. In accordance with the terms and conditions of the Edge Reward Points program, I was credited with 6,000 reward points. However, a subsequent reversal of INR 9,000 was executed on my account, which led to the deduction of 540 edge reward points.

As a result of this adjustment, my account now reflects a total payment of INR 1,21,000 but received 5,460 edge reward points. It has come to my attention that there is a discrepancy in the allocation of reward points, as I should have received a total of 6,000 points based on my net payment.

I kindly request that you review my account details and rectify this issue at the earliest. Please credit the missing 540 edge reward points to my account and confirm the same through email or any other means of communication you deem appropriate.

I have been a loyal customer of your organization, and I value the services you provide. I trust that this issue will be resolved swiftly, and I appreciate your prompt attention to this matter.

Thank you for your cooperation and understanding.

Sincerely,
[Your Name] [Your Account Number] [Your Contact Information]

 

[pulkitpopli2004]

send the mail to premium.experience again.

Can you please share what you have sent to them?

Spoiler: Sample using chatgpt

Subject: Discrepancy in Edge Reward Points Allocation and Request for Immediate Resolution

Dear [Customer Support Team / Concerned Department],

I hope this message finds you well. I am writing to express my concern over an issue I have recently encountered with my account, and I expect this matter to be addressed professionally and promptly.

On [Date], I made a payment of INR 1,30,000 towards my insurance premium. In accordance with the terms and conditions of the Edge Reward Points program, I was credited with 6,000 reward points. However, a subsequent reversal of INR 9,000 was executed on my account, which led to the deduction of 540 edge reward points.

As a result of this adjustment, my account now reflects a total payment of INR 1,21,000 but received 5,460 edge reward points. It has come to my attention that there is a discrepancy in the allocation of reward points, as I should have received a total of 6,000 points based on my net payment.

I kindly request that you review my account details and rectify this issue at the earliest. Please credit the missing 540 edge reward points to my account and confirm the same through email or any other means of communication you deem appropriate.

I have been a loyal customer of your organization, and I value the services you provide. I trust that this issue will be resolved swiftly, and I appreciate your prompt attention to this matter.

Thank you for your cooperation and understanding.

Sincerely,
[Your Name] [Your Account Number] [Your Contact Information]

I made a transaction on 1st Jan 2023 of 1.3L for insurance payment using my credit card xxxx-xxxx-xxxx-1396
For this transaction i received Edge rewards of 6000.

Now there has been some refund of around Rs 9131 from NIVA BUPA team.
Since, net transaction is around 1.21L which means as per T&C I am eligible for 6000 Edge rewards points but 540 Edge reward points has been incorrectly deducted.

Based on this, i am asking for reversal of 540 Edge rewards to my account.

 

[CMG]

I made a transaction on 1st Jan 2023 of 1.3L for insurance payment using my credit card xxxx-xxxx-xxxx-1396
For this transaction i received Edge rewards of 6000.

Now there has been some refund of around Rs 9131 from NIVA BUPA team.
Since, net transaction is around 1.21L which means as per T&C I am eligible for 6000 Edge rewards points but 540 Edge reward points has been incorrectly deducted.

Based on this, i am asking for reversal of 540 Edge rewards to my account.

Did they budge?

 

[pulkitpopli2004]

Response was "With regard to your query we wish to inform you that, with effective from 22nd September 2020, the Edge Reward Points accrual on transactions towards Insurance spends on your Axis Bank Magnus Credit Card will be capped at 6000 points per transaction for an amount greater than or equal to Rs100000.



And if there is any refund received from the merchant end, the refund amount will be adjusted towards the cappng of 1 lakh only

Hence, the 540 reward points are been debited for the refund value of Rs.9131.00/- "

 

[abhishek0882]

Experiences like these ruin such good products that Axis has come up with. While based on product features all CC enthusiasts have been clamouring for these cards, I wonder how many will continue or new interest will be there the moment devaluation starts with this kind of service. Infinia and DCB despite the major devaluations still retain existing customers and still keep new applicants interested - service being the difference as far as I understand from this forum (I personally do not hold any HDFC cards). Less than 6 months with Axis Magnus and Vistara Infinite and it is already frustrating for me.

 

[CMG]

Response was "With regard to your query we wish to inform you that, with effective from 22nd September 2020, the Edge Reward Points accrual on transactions towards Insurance spends on your Axis Bank Magnus Credit Card will be capped at 6000 points per transaction for an amount greater than or equal to Rs100000.



And if there is any refund received from the merchant end, the refund amount will be adjusted towards the cappng of 1 lakh only

Hence, the 540 reward points are been debited for the refund value of Rs.9131.00/- "

Can you please ask them to share the t&c regading the refund rules?

 

[pulkitpopli2004]

Can you please ask them to share the t&c regading the refund rules?

they simply referred me the below page -

Terms & Conditions | EDGE REWARDS

edgerewards.axisbank.co.in

i am going through it.

 

[pulkitpopli2004]

• In case of a reversal of any eligible transaction, EDGE REWARD points credited to the EDGE REWARDS account as a result of such eligible transaction will be deducted from the accrued EDGE REWARD points balance.

Based on this T&C they are saying not possible.

I am still asking them on basis of below points. Lets see if they agree. Else no point future discussing.

"On the terms and condition it mentioned "Effective 22nd September 2020, EDGE REWARDS accrual on transaction towards Insurance spends on your Magnus Credit Card, will be capped at 6,000 points per transaction Redirect."

Since the total transaction is 1.2L, i am eligible for 6000 Edge reward points. The reversal of 540 points is not valid as per the given rules. I would request you to refund the same."

 

[Keshau28]

O

I made a transaction of 1.30L for insurance payment. for which i received 6000 Edge reward points.

But due to insurer backend issue, this amount should have been 1.21L which they later accepted and given 9k refund to my credit account. And with this 9k refund they also deduced the 540 Edge rewards points.

So in total i spent 1.21L but received 5460 Edge Rewards Points. i raised a query with Axis bank and they confirmed this is how they handle refund and 540 points cannot be reverted.

Have you faced similar scenario? should i escalate this to get those 540 points or they are correct?

I made a insurance transaction of Rs.3,13,500/- from Magnus Card but I got only 6000 edge pts. Is there any capping in Magnus Card for insurance transactions?

 

[navonline7]

O

I made a insurance transaction of Rs.3,13,500/- from Magnus Card but I got only 6000 edge pts. Is there any capping in Magnus Card for insurance transactions?

Yes, maximum 6000 ER points per transaction. Please refer to this post:

Axis Magnus Master List of Exclusions | Guide | Update Date: 9th June, 2023 - 5:30 AM IST

Update Date: 9th June, 2023 - 05:35 AM IST (Added: Foreign Currency Transaction Fees + GST Exclusion) Not able to update post header. REGULAR ER POINTS Sr. No. Type MCC Limitations Source 1 Direct Wallet Loads 6540 https://edgerewards.axisbank.co.in/lms/terms-conditions SCHEDULE A 2...

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