Axis Magnus Bad Experience with Magnus Support.

[DeepSaha]

Ordered Eyewear from Lenskart using CRED as payment method, and I was charged with Rs 148 as rental payment plus Rs 28 as GST.

I contacted AXIS Burgundy Support and they informed CRED is considered as Rental Payment and therefore its charged and they cannot do anything and I should speak with CRED for this amd Axis cannot do anything for this.

CRED Pay is nowadays available everywhere including Myntra, Flipkart, Lenskart etc. then why this kind of hidden charges?

 

[D3V1L]

Have you tried contacting cred ?

 

[ccrnc]

This has been discussed a few times over, but to sum it up. This is a matter of wrong MCC code assigned by the vendor/bank who provided the MCC code to the vendor. In this case, the bank must have recorded the payment on the rent pay MCC code, which is common with any payments routed via Cred. I recall people had previously mentioned that other non rent-pay payment being routed through cred like education fees etc were also assigned rent MCC and hence treated accordingly by the banks. Honestly, I'm surprised to see that the problem exists so far that even completely obvious shopping portals such as Lenskart and myntra are being tagged erroneously.

But in any case, I don't think you will be able to recoup the charges as it's impossible to change MCC code no matter who you complain to. Axis bank for sure won't entertain anything, however you might have a shot at raising this grievance with the cred customer care/management of being wrongfully charged due to their backend setup.

But in general, personally I steer very much away from routing payments through any portals that could be construed as rent pay/wallet load. I 100% agree that it's unfair but that's just how its setup at the moment so it's best we figure out how to work around this.

 

[indcreditcard]

Please check your DM @DeepSaha, thanks

 

[DeepSaha]

Have you tried contacting cred ?

Yes already contacted cred and axis bank

 

[DeepSaha]

Please check your DM @DeepSaha, thanks

Respond to your message. Thank you 🙂

 

[DeepSaha]

This has been discussed a few times over, but to sum it up. This is a matter of wrong MCC code assigned by the vendor/bank who provided the MCC code to the vendor. In this case, the bank must have recorded the payment on the rent pay MCC code, which is common with any payments routed via Cred. I recall people had previously mentioned that other non rent-pay payment being routed through cred like education fees etc were also assigned rent MCC and hence treated accordingly by the banks. Honestly, I'm surprised to see that the problem exists so far that even completely obvious shopping portals such as Lenskart and myntra are being tagged erroneously.

But in any case, I don't think you will be able to recoup the charges as it's impossible to change MCC code no matter who you complain to. Axis bank for sure won't entertain anything, however you might have a shot at raising this grievance with the cred customer care/management of being wrongfully charged due to their backend setup.

But in general, personally I steer very much away from routing payments through any portals that could be construed as rent pay/wallet load. I 100% agree that it's unfair but that's just how its setup at the moment so it's best we figure out how to work around this.

Yep I understand this.. I have contacted Axis Bank Nodal as well as CRED Support lets see how it goes?

 

[rogerthat]

As a rule of thumb, I keep away from anything CRED. Their entire ecosystem is just bad. Have heard nothing but complaints about them.

 

[DeepSaha]

After a lot of to and fro with CRED and Axis Bank Nodal. Atlast I got those transaction charges reversal.

I am still not sure if this is a kind of one time manual reversal or not, or the CRED issue is fixed from merchant/bank end..
I have asked the same to Axis Bank but did not get any further update yet.

 

[great]

Any reply from cred ?

 

[DeepSaha]

Any reply from cred ?

CRED had requested a screenshot containing a response from AXIS Bank stating that MCC is the cause of these transaction charges. I didn't receive the precise email reply from Axis Bank explicitly mentioning the MCC code as the reason for this problem. Nevertheless, they referred to CRED as a Rental Payment. I have shared that screenshot with CRED, and now we await their response.

 

[gurbina]

Well whether it's CRED fault or Axis fault, ultimately the dispute ends up with Axis.

It is not your problem and you're not aware upfront about the MCC and those charges when you pay, and these are erroneous charges from Axis and whether it is CREDs fault or not, they can be disputed.

Push back or escalate, Axis is playing dumb. Run over their customer service agents if you have to, I have faced lots of issues with Axis agents unwilling to help or that just want us to drop the ball and let it be.

 

[DeepSaha]

After lot of to and fro mails with Axis Bank and CRED, finally I got refund from CRED Team.

I must say that I am thankful to @akramtariqkhan who helped me in the process and so that I get the refund.

I appreciate the fast and quick response by CRED team and mainly @akramtariqkhan for helping me thoughout and in working towards the resolution of this issue quickly and efficiently.

 

[DeepSaha]

Also, thank you everyone for your suggestions and comments which ultimately led me to resove this issue.