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Axis Bank Debiting Reward Points for Reversed Transactions of 2023: Year-End Circus 🎪

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TechnoFino

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Hey TFCians,

Axis Bank is back with its year-end circus 🎪!

A notification on the rewards points page of their mobile app states that you need to click a link to check if the bank has debited any reward points for transactions made in 2023. This applies to transactions that were reversed, refunded, or those that shouldn't have earned points in the first place.

IMG-20241214-WA0003.webp

I checked my account and found that no reward points have been debited from mine.

IMG-20241214-WA0002.webp

What about you? Are you safe from this circus, or has Axis Bank caught you in its net?

Let us know in the comments below!
 
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amitr29 said:
"अब पछताए होत क्या जब चिड़ियां चुग गई खेत"
Click to expand...
Animation Eat GIF by DLGNCE
 
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TechnoFino said:
Hey TFCians,

Axis Bank is back with its year-end circus 🎪!

A notification on the rewards points page of their mobile app states that you need to click a link to check if the bank has debited any reward points for transactions made in 2023. This applies to transactions that were reversed, refunded, or those that shouldn't have earned points in the first place.

View attachment 77256

I checked my account and found that no reward points have been debited from mine.

View attachment 77257

What about you? Are you safe from this circus, or has Axis Bank caught you in its net?

Let us know in the comments below!
Click to expand...
What’s wrong with this? This is how it should be to be honest. Some folks game the system and banks then tighten the screws on card holders which is what we call devaluation.
 
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theXfactor said:
What wrong with this? This is how it should be to be honest. Some folks game the system and bank then tighten the screws on card holders which is what we call devaluation.
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Wrong is that Axis allowed folks to game the system and it took them a year to realise 😂. And instead of fixing this, they did devaluations 😜. Well not the first time and not the last time either 🤩.
 
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Bionick said:
Axis is now debiting points for cancelled transactions done in 2023. People who enjoyed zero paisa hack are now paying back. Everyone check whether they are affected. BTW, next level troll by Axis Bank in debit description 🤣
Source: Twitter.
Click to expand...
Why are you posting fake screenshots?

This screenshot was posted in Feb and was taken from twitter at that time. Now again same thing is being posted as a proof of new steps from Axis.

Here's the link from TF itself: https://www.technofino.in/community/threads/axis-deducting-points-for-non-personal-use-txns.23303/

Sometimes, I feel TF is becoming a WhatsApp university. Going forward, I need to be careful what I can trust from here.
 
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theXfactor said:
What’s wrong with this? This is how it should be to be honest. Some folks game the system and banks then tighten the screws on card holders which is what we call devaluation.
Click to expand...
What's wrong here? As a major private sector bank, we expect them to resolve issues in one or two attempts at most. However, their approach is baffling—they reverse points for business transactions, then after a few months, they reverse all points credited for a card replacement. After that, they come up with a new reason for reversals, and now they want to reverse points for several transactions (which was reversed/refunded) from 2023.

But why on earth doesn’t a bank reverse reward points immediately when the actual transaction is reversed? I mean... is it that hard? Customers of a bank with such weak IT infrastructure should genuinely be concerned about their security!
 
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TechnoFino said:
What's wrong here? As a major private sector bank, we expect them to resolve issues in one or two attempts at most. However, their approach is baffling—they reverse points for business transactions, then after a few months, they reverse all points credited for a card replacement. After that, they come up with a new reason for reversals, and now they want to reverse points for several transactions (which was reversed/refunded) from 2023.

But why on earth doesn’t a bank reverse reward points immediately when the actual transaction is reversed? I mean... is it that hard? Customers of a bank with such weak IT infrastructure should genuinely be concerned about their security!
Click to expand...
Yes and these are some reasons why I never tried for Axis cards. My point was more around reversing the points for reversed/business/invalid transactions and that’s fair to do so on their part. However, it ofcourse shouldn’t take them a year or two realise what needed to be done.
Anyway I don’t bet on Axis cards as what they would do next is anyone’s guess.
 
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I checked my account and none were reversed but then I never tried to use loopholes. I used 45x and other reward multiplier options in grabdeals and 5x to 10x on gyftr coupons. It helped me getting good amount of Club Vistara points as well as other points.
But the real issue is that after one year the axis is looking to find such non valid transactions and removing them. It should sound a great security issue for all of us as axis security team seems incapable. That is more worrisome.
 
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amitr29 said:
"अब पछताए होत क्या जब चिड़ियां चुग गई खेत"
Click to expand...
theXfactor said:
What’s wrong with this? This is how it should be to be honest. Some folks game the system and banks then tighten the screws on card holders which is what we call devaluation.
Click to expand...
If Banks can charge retrospectively; Customers should have the option to complain retrospectively on old issues and demand compensation for them. But this is better said than actually done. Cause if it really happens, and customers start digging old issues and complaints and seeking compensation, The Circus would go on from the other side as well.

And Pretty sure, if that happens; Banks will go bankrupt paying the compensation and RBI BO will go 😵 looking at the volume of complaints the Office receives.

If there is a time limit for raising complaints to RBI, there should be a limit as well, for retrospective charges being levied by Banks. ( 6 months at the max would be fine)
 
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chasni said:
Why are you posting fake screenshots?

This screenshot was posted in Feb and was taken from twitter at that time. Now again same thing is being posted as a proof of new steps from Axis.

Here's the link from TF itself: https://www.technofino.in/community/threads/axis-deducting-points-for-non-personal-use-txns.23303/

Sometimes, I feel TF is becoming a WhatsApp university. Going forward, I need to be careful what I can trust from here.
Click to expand...
Clearly mentioned Source: Twitter
Bionick said:
Axis is now debiting points for cancelled transactions done in 2023. People who enjoyed zero paisa hack are now paying back. Everyone check whether they are affected. BTW, next level troll by Axis Bank in debit description 🤣
Source: Twitter.
Click to expand...
. . . ☝🏻☝🏻
 
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Anupama_Jha said:
Clearly mentioned Source: Twitter

. . . ☝🏻☝🏻
Click to expand...
But it is more than 8 months old screenshot and not relevant to the recent changes made by Axis.

Just because you found something on Twitter and you quoted the source doesn't make the information relevant or correct. Given this forum is for sharing CC knowledge, people should take ownership and responsibility for posting the right information.

Next time if someone asks after Dec 20th whether there is a redemption fee on Axis. I will reply with a Twitter post from 2 years ago and tell that person that Axis doesn't charge a redemption fee.
 
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As they say, Axis - Open Dil Se...... Now they are opening/digging graves to get back the skeleton to sell it to recover or will put the customer in that grave Dil Se.

Before Year 2010 : Do a scam and keep it secret till death. Think before you do it and remove anything that can backtrack to you.

After that: Do a scam (exploit loophole). Brag about it on social media. Add more people to your scam. Enjoy!

Previous generation always cleaned the footprints while today you can't.

That's why I always ask people to have genuine things and be ready to give back if collected by illegal means. I have make up my mind that if bank someday ask me to give back CC Bill Pay cashbacks, I will happily do it. But they won't as till now no one has legally put it and MCC will be changed rather than customer being harassed.
 
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desiviru said:
As they say, Axis - Open Dil Se...... Now they are opening/digging graves to get back the skeleton to sell it to recover or will put the customer in that grave Dil Se.

Before Year 2010 : Do a scam and keep it secret till death. Think before you do it and remove anything that can backtrack to you.

After that: Do a scam (exploit loophole). Brag about it on social media. Add more people to your scam. Enjoy!

Previous generation always keep the footprints while today you can't.

That's why I always ask people to have genuine things and be ready to give back if collected by illegal means. I have make up my mind that if bank someday ask me to give back CC Bill Pay cashbacks, I will happily do it. But they won't as till now no one has legally put it and MCC will be changed rather than customer being harassed.
Click to expand...
the simpsons applause GIF
 
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