Many have received email from Axis asking justification for using Bharthnxt app.
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PSA : Stop using BharatNXT immediately
- Thread starter ChurningNoob
- Start date
Yes absolutely Right..
Please elaborate.
Sharjeelshaikh
TF Premier
@Wealth is my birth right! Bro if u dont mind can u please answer my few questions-
A friend of mine got magnus and he knows a shop owner who swipe his card and gives him cash shop owner takes 3% for this so is it safe?? And regarding this Bharatnxt situation what proofs we can submit to prove that those transactions were legit?
A friend of mine got magnus and he knows a shop owner who swipe his card and gives him cash shop owner takes 3% for this so is it safe?? And regarding this Bharatnxt situation what proofs we can submit to prove that those transactions were legit?
Of course it’s not safe lmao, what question is this? Even if axis is stupid enough to ignore it. That 3% is business revenue no matter how stupid that business is and it’s left undeclared in ITR
The only way you can justify is you are like this middlemen who sells goods and shop owner buys it, in which case IT will ask shop owner to pay tax and axis will block your card
The bank doesn’t go and check each and every customer. The algorithm looks for outliers based on transactions and MCCs which are a red flag. Till the time everything seems legit, no one will do anything. Bank doesn't even make effort in case of small transactions. This reply is not to encourage you or your friend to rotate money. I will still recommend you not to do it.
I am making transaction of 198 on my Amex card everyday for the past 90 days at the same shop (genuine spends) to see if transaction starts getting flagged. Amex never even called me or sent a mail asking for justification even once.
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Sharjeelshaikh
TF Premier
Even axis doesn't call simply drops a mail one fine day.the question is are we so chindi that we resort to unethical means. To gain points
1. If more than 3 month’s continuous swipes at same pos outlet for same amount then it’s a trigger to any bank
May be it varies with Axis bank HDFC Bank ICICI based upon their AI design considerations in risk based approach
2. BharTnxt proofs I have school fee receipts for those dates of my usage and car service bill to show if Axis bank asks so
Until u get notice don’t bother much
Once u get u can work on the triggered transactions to give them clarity
Right now they deducted high users like full 1l those used in BharTnxt alone for a month to reach milestone benefits
Here and there 10k 20k txns so far no notice
May be it varies with Axis bank HDFC Bank ICICI based upon their AI design considerations in risk based approach
2. BharTnxt proofs I have school fee receipts for those dates of my usage and car service bill to show if Axis bank asks so
Until u get notice don’t bother much
Once u get u can work on the triggered transactions to give them clarity
Right now they deducted high users like full 1l those used in BharTnxt alone for a month to reach milestone benefits
Here and there 10k 20k txns so far no notice
axis reversed points for 6-7 transactions for me yesterday (mostly wallet ) 
Checked me too and saw 144 points reversed but it’s for a cancelled ticket from traveledgeaxis reversed points for 6-7 transactions for me yesterday (mostly wallet )
Noticed that on 22-Iune, Axis has reversed all HP pay transaction points. They are yet to reverse milestone (HP pay transaction was part of 1 lakh to reach milestone). Fingers crossed.
Milestone revocation will be a big setback . Tata cliq gold coin is stopped.
I think HP pay might get classified as wallet. Better to stop using it.
ThriftyPlasticPundit
TF Premier
really wonder what would be credit card market india, once all loopholes are closed.
Not all banks would be worrying about this. For Axis, Magnus is a loss making card (probably for now). Hence they want it to reach to max people who will make it a profitable card. But if they don’t identify the leeches then a small chunk will always make the card a loss for them. Hence they are filtering them out and blocking them.
Other banks don’t have such highly rewarding cards. They would have to spend more on identifying these patterns than they would gain from blocking those.
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