Axis Magnus Negative outstanding and statement generated

[Hisoka]

Reference thread: https://www.technofino.in/community/threads/solved-urgent-axis-magnus-fraud-transaction-of-1l.11256/

Hey everyone
Few weeks back I accidentally made an international transaction not knowing that we don't receive OTP there. Axis bank helped me by providing a temp credit to my statement so that I don't have to pay that amount (You can see in the screenshot that my overall limit is according to my actual outstanding, but due to temp credit, my overall outstanding is negative). But few days after, that issue was resolved by apple and I received refund from them. The problem is that Axis bank still has that temp credit and my overall statement balance is negative (I spent 50K and temp credit was 1L, so overall statement is -50K)

How should I proceed with this? I try mailing them but they said it'll take 90 days for the issue to resolve. Should I just pay the amount I owe them? Or I wait and don't pay at all?
Apologies for opening the thread again.

Thanks in advance

 

[romilq]

negative means you don't have to pay!

 

[Hisoka]

negative means you don't have to pay!

Read the question bro. That is temp credit and my actual outstanding is -48K + $1300

 

[4uziaul]

Reference thread: https://www.technofino.in/community/threads/solved-urgent-axis-magnus-fraud-transaction-of-1l.11256/

Hey everyone
Few weeks back I accidentally made an international transaction not knowing that we don't receive OTP there. Axis bank helped me by providing a temp credit to my statement so that I don't have to pay that amount (You can see in the screenshot that my overall limit is according to my actual outstanding, but due to temp credit, my overall outstanding is negative). But few days after, that issue was resolved by apple and I received refund from them. The problem is that Axis bank still has that temp credit and my overall statement balance is negative (I spent 50K and temp credit was 1L, so overall statement is -50K)

How should I proceed with this? I try mailing them but they said it'll take 90 days for the issue to resolve. Should I just pay the amount I owe them? Or I wait and don't pay at all?
Apologies for opening the thread again.

Thanks in advance

In the statement is it asking you to pay anything?

 

[avinash2711]

Following to know the answer

 

[Hisoka]

In the statement is it asking you to pay anything?

It's just saying 54k credit

 

[Mogambo]

Read the question bro. That is temp credit and my actual outstanding is -48K + $1300

Hisoka Basics first. If (+) outstanding balance in monthly statement via email you simply pay. If it's (-) then don't pay. Your case don't pay. can't make simple than this.

 

[romilq]

Read the question bro. That is temp credit and my actual outstanding is -48K + $1300

Read the statement again it says you have 50k around credit. So you don't need to pay. When they will remove the temporary credit then you will have to pay maybe when next statement is generated. You can confirm once with customer care.

 

[Hisoka]

Hisoka Basics first. If (+) outstanding balance in monthly statement via email you simply pay. If it's (-) then don't pay. Your case don't pay. can't make simple than this.

@Mogambo But these are not my spends. What if bank says in future that this was just the temp credit and you were supposed to pay the rest. I've never missed my payment and if I pay this one, it'll be a big hit on my CIBIL loss since the amount is not small.

 

[Hisoka]

Read the statement again it says you have 50k around credit. So you don't need to pay. When they will remove the temporary credit then you will have to pay maybe when next statement is generated. You can confirm once with customer care.

Are you sure about this? What if Axis bank sends this report to CIBIL without the temp credit?

 

[Mogambo]

@Mogambo But these are not my spends. What if bank says in future that this was just the temp credit and you were supposed to pay the rest. I've never missed my payment and if I pay this one, it'll be a big hit on my CIBIL loss since the amount is not small.

are the same guy who placed order on Apple US while browsing? Read my comment again based on +, - balance you take action.

 

[romilq]

Are you sure about this? What if Axis bank sends this report to CIBIL without the temp credit?

Like I said we can only depend on what the statement says. Even then if you are worried then pay up if you don't have any issues in paying right now. And the best would be to call Axis bank and ask them. Will hardly take 2-3 minutes.

 

[Bharat]

Like I said we can only depend on what the statement says. Even then if you are worried then pay up if you don't have any issues in paying right now. And the best would be to call Axis bank and ask them. Will hardly take 2-3 minutes.

I would recommend to confirm on email instead of call for records (call records also works but text is better)

 

[Hisoka]

Like I said we can only depend on what the statement says. Even then if you are worried then pay up if you don't have any issues in paying right now. And the best would be to call Axis bank and ask them. Will hardly take 2-3 minutes.

I called them, I emailed them. They just say they don't know and issue will take 90 days to resolve
Emailed them yesterday, yet to receive a response

 

[4uziaul]

It's just saying 54k credit

So, there is nothing to worry, you don't have to pay anything. As the people above me have replied better wait for the statement, if the statement doesn't show any due don't pay.

 

[Bharat]

I called them, I emailed them. They just say they don't know and issue will take 90 days to resolve
Emailed them yesterday, yet to receive a response

I Also hold a -ve balance with axis since couple of months, my cibil has sent down 10 points.. not sure if that's because of this balance but there is no other reason i found for cibil going down except for 1 CC enquiry(which should be like 1 or 2 points Max) all other payments etc are on track no default at all

 

[romilq]

I called them, I emailed them. They just say they don't know and issue will take 90 days to resolve
Emailed them yesterday, yet to receive a response

That is about the temporary credit issue. Just ask them about the current statement and whether you need to pay or not. Simple.