Beware of Axis LTF scam.

[vivian]

@TechnoFino

A lady claiming to be from an Axis branch called me and convinced me apply for IndianOil rupay variant from netbanking app. Netbanking channel showed that it is paid card with annual/joining fee of 500Rs. But she promised me that it will be processed as LTF from the branch side. even though I had doubts at the back of my head, I believed her since she asked me to enter branch code and employee code by choosing assisted form filling.

Since I already hold myzone from them, the card was instantly approved and a couple days later I received SMS that card is issued with joining and annual fee. Card also got delivered and welcome letter confirms that it is paid card. I contacted email.services@axisbank.com with all above details and as usual they say it is a paid card without even acknowledging the whole scam that I took to their notice.

Then emailed PNO about it and haven't gotten any response apart from their automated reply even after 5 days.

By then agent blocked my contact and I got in touch with her from alternate contact number and she picked. Told her that I wrote to PNO and planning to write to RBI ombudsman, she finally gave in and said that she isn't an employee and connected me to the actual guy who is running this LTF scam racket. Turns out the guy is the actual employee who bears the employee code that I entered in application.

Now the axis employee is begging to settle this without escalating by accepting the annual fee as cash. Told that I am from a different city than him and he says that he will settle from my nearest axis branch. So I believe this is a deep rot and ran by several branches of Axis on gullible people.

I am thinking of dragging this to RBI ombudsman. Have all the call recordings.

Meanwhile stay safe from these scamsters, guys.

 

[Walter White]

@TechnoFino

A lady claiming to be from an Axis branch called me and convinced me apply for IndianOil rupay variant from netbanking app. Netbanking channel showed that it is paid card with annual/joining fee of 500Rs. But she promised me that it will be processed as LTF from the branch side. even though I had doubts at the back of my head, I believed her since she asked me to enter branch code and employee code by choosing assisted form filling.

Since I already hold myzone from them, the card was instantly approved and a couple days later I received SMS that card is issued with joining and annual fee. Card also got delivered and welcome letter confirms that it is paid card. I contacted email.services@axisbank.com with all above details and as usual they say it is a paid card without even acknowledging the whole scam that I took to their notice.

Then emailed PNO about it and haven't gotten any response apart from their automated reply even after 5 days.

By then agent blocked my contact and I got in touch with her from alternate contact number and she picked. Told her that I wrote to PNO and planning to write to RBI ombudsman, she finally gave in and said that she isn't an employee and connected me to the actual guy who is running this LTF scam racket. Turns out the guy is the actual employee who bears the employee code that I entered in application.

Now the axis employee is begging to settle this without escalating by accepting the annual fee as cash. Told that I am from a different city than him and he says that he will settle from my nearest axis branch. So I believe this is a deep rot and ran by several branches of Axis on gullible people.

I am thinking of dragging this to RBI ombudsman. Have all the call recordings.

Meanwhile stay safe from these scamsters, guys.

Us se bolo 5000 Gpay kare nhi toh RBI pe bhi jayega upar se FIR file kar dunga fraud ke liye aur harassment ki complaint bhi jayegi 😛

 

[Deleted member 7241]

Yes.. Sir... You Can....

But Those are Outsourced Staff..
I know Ye Galat hai..

But Eventually Unki Job Khatre me aa Jayengi...

Unke pass koi Option nahi hota bcoz of Target..

I think u heard about recent HDFC Case..

 

[vivian]

Us se bolo 5000 Gpay kare nhi toh RBI pe bhi jayega upar se FIR file kar dunga fraud ke liye aur harassment ki complaint bhi jayegi 😛

Thinking of asking Magnus LTF as compensation. 😜

 

[vivian]

Yes.. Sir... You Can....

But Those are Outsourced Staff..
I know Ye Galat hai..

But Eventually Unki Job Khatre me aa Jayengi...

Unke pass koi Option nahi hota bcoz of Target..

I think u heard about recent HDFC Case..

I am a customer of axis since 12+ years. Feels disgusting when "employees" do this just to meet targets.

Even if they make it LTF, what about the scam. I think many are victims to this. Why would a branch agree to settle "CASH" for scam done by some other branch employees?

BTW the agents contact was reported as scam in truecaller by 100s of people.

 

[nirsark]

Okay I faced similar situation. Got a call from a person who claims to be from my Axis Bank Branch (I don't live in my hometown so cannot verify by going in person to the branch) and tell me that I can apply for Myzone or IOCL cc as LTF. Same story, he gave me his employee code, it was showing a paid card, he confirmed me that he will make it LTF.

I knew about these Axis Bank tactics, I knew from the very beginning that Axis customer support is not going to acknowledge this card as LTF cc since I am agreeing to terms and conditions during applying, which mentions fees. Nevertheless, since as per new RBI rule banks cannot charge you if you don't activate the cc, I took the chance. I have nothing to lose. If the employee can make my card LTF then no problem.

I got the card 2 days later. The first thing I did is to contact axis customer support and confirm that its a paid card, and then sent the screenshots to that guy (I have his whatsapp no). Initially he said, sir pls activate the card and use, initially your joining fee will be charged, and then it will be reversed. I denied to activate and said first make it LTF, give me written confirmation, else I am not activating it. At this point he knew he has lost his lead, and he moved on (means he didn't force me to activate card, etc)

After a week (yesterday) I again pinged him, he said that he has wrote a mail against my application and once it is approved, my card will be LTF, and I will also get a mail from them. I said okay. Since then no communication. I know I am not going to get any mails but I just want to see where it drags, since I am in a safe zone for 30+7 days.

But after reading your post, I feel that maybe they are playing this tactic with innocent people who will believe their words and suffer a lot. Axis bank is very ruthless, once you get a paid card, they won't make it LTF even if you state all these harrowing experiences. The only way they converts entry level cards (Neo, MyZone, IOCL) from paid to LTF is when you send a card closure request and it goes to the retention team. No other way. Not even PNO can convert it to LTF.

Hence, I will keep your incident in mind, and follow up with my case. One mistake is that initial call where he said card would be LTF, I do not have recordings. So cannot furnish as proof. Anyways. I hope you didn't activate your card, and are in safe zone too?

 

[vivian]

Okay I faced similar situation. Got a call from a person who claims to be from my Axis Bank Branch (I don't live in my hometown so cannot verify by going in person to the branch) and tell me that I can apply for Myzone or IOCL cc as LTF. Same story, he gave me his employee code, it was showing a paid card, he confirmed me that he will make it LTF.

I knew about these Axis Bank tactics, I knew from the very beginning that Axis customer support is not going to acknowledge this card as LTF cc since I am agreeing to terms and conditions during applying, which mentions fees. Nevertheless, since as per new RBI rule banks cannot charge you if you don't activate the cc, I took the chance. I have nothing to lose. If the employee can make my card LTF then no problem.

I got the card 2 days later. The first thing I did is to contact axis customer support and confirm that its a paid card, and then sent the screenshots to that guy (I have his whatsapp no). Initially he said, sir pls activate the card and use, initially your joining fee will be charged, and then it will be reversed. I denied to activate and said first make it LTF, give me written confirmation, else I am not activating it. At this point he knew he has lost his lead, and he moved on (means he didn't force me to activate card, etc)

After a week (yesterday) I again pinged him, he said that he has wrote a mail against my application and once it is approved, my card will be LTF, and I will also get a mail from them. I said okay. Since then no communication. I know I am not going to get any mails but I just want to see where it drags, since I am in a safe zone for 30+7 days.

But after reading your post, I feel that maybe they are playing this tactic with innocent people who will believe their words and suffer a lot. Axis bank is very ruthless, once you get a paid card, they won't make it LTF even if you state all these harrowing experiences. The only way they converts entry level cards (Neo, MyZone, IOCL) from paid to LTF is when you send a card closure request and it goes to the retention team. No other way. Not even PNO can convert it to LTF.

Hence, I will keep your incident in mind, and follow up with my case. One mistake is that initial call where he said card would be LTF, I do not have recordings. So cannot furnish as proof. Anyways. I hope you didn't activate your card, and are in safe zone too?

I knew it. I knew that mine wasn't an isolated case.

unfortunately, I have activated it. but haven't made any transactions yet.
Although I have all the recordings/employee code/branch code and audio of the employee begging me not to escalate.
i don't mind paying 500Rs, if thats what it takes to put an end to this scam of AxisBank.

BTW do you mind sharing the name of Branch which did this? I don't think its an issue sharing here.

Branch which scammed me is 3794-TNAGAR.

 

[nirsark]

I knew it. I knew that mine wasn't an isolated case.

unfortunately, I have activated it. but haven't made any transactions yet.
Although I have all the recordings/employee code/branch code and audio of the employee begging me not to escalate.
i don't mind paying 500Rs, if thats what it takes to put an end to this scam of AxisBank.

BTW do you mind sharing the name of Branch which did this? I don't think its an issue sharing here.

Branch which scammed me is 3794-TNAGAR.

Oops, if you have activated the card, I suggest you do sufficient spending and next year before renewal, try the card closure method and get it converted to LTF via retention team. That would actually make the card useful to you.

But meanwhile you can continue dragging this to RBI.

Branch name I don't want to disclose in public. Its in Kolkata. Inbox me I can tell you.

 

[vivian]

Oops, if you have activated the card, I suggest you do sufficient spending and next year before renewal, try the card closure method and get it converted to LTF via retention team. That would actually make the card useful to you.

But meanwhile you can continue dragging this to RBI.

Branch name I don't want to disclose in public. Its in Kolkata. Inbox me I can tell you.

Ok. Thanks. That helps. I will take the 30 day closure route.
Mine is from Chennai. So this is infact a pan-india scam.
My only worry is that all the conversations are in Tamil and don't know if RBI have translators. 😕

 

[MusicalMind]

I worked at Axis bank previously these tactics done by axis employees because of the pressure coming from the top. If the employee didn't complete his targets they won't promote them and everyday they get abuses from the top. Imagine working for 5 years as Assistant Manager because you didn't have enough sales. In my case they offered me operations but they given me sales I immediately resigned because of this.

 

[nirsark]

Ok. Thanks. That helps. I will take the 30 day closure route.
Mine is from Chennai. So this is infact a pan-india scam.
My only worry is that all the conversations are in Tamil and don't know if RBI have translators. 😕

I'm afraid you cannot take the 30 day closure route since you have already activated the card. The joining fees have been charged and you will start getting statements. It is already activated.

Yes, my convos are also in Bengali (Bengali in English font)

 

[nirsark]

I worked at Axis bank previously these tactics done by axis employees because of the pressure coming from the top. If the employee didn't complete his targets they won't promote them and everyday they get abuses from the top. Imagine working for 5 years as Assistant Manager because you didn't have enough sales. In my case they offered me operations but they given me sales I immediately resigned because of this.

I can imagine that pain and hardship, but when I compare the pain and hardship of those employees who is suffering in bureaucracy, versus the pain and suffering of thousands (if not tens of thousands) of customers who are falling for this trap, I feel absolutely no pity.

Hell my mother trusts her banking official, since he always greets her with a smile and explains everything with patience whenever she visits the bank. Some time back, she told me about some investment scheme the banker has suggested her, I found out it was a stupid ULIP Policy. But it took me a lot of convincing to my mother, to make her mind not to go for such schemes. She was like, "if banker is saying so, it must be so true. He also explained me it on a plain paper." I am like, "unless you read every line of the MITC document, you should not get convinced, since that's the document you sign, and not on the words you hear". Anyways, this was an off topic paragraph.

 

[vivian]

I can imagine that pain and hardship, but when I compare the pain and hardship of those employees who is suffering in bureaucracy, versus the pain and suffering of thousands (if not tens of thousands) of customers who are falling for this trap, I feel absolutely no pity.

Hell my mother trusts her banking official, since he always greets her with a smile and explains everything with patience whenever she visits the bank. Some time back, she told me about some investment scheme the banker has suggested her, I found out it was a stupid ULIP Policy. But it took me a lot of convincing to my mother, to make her mind not to go for such schemes. She was like, "if banker is saying so, it must be so true. He also explained me it on a plain paper." I am like, "unless you read every line of the MITC document, you should not get convinced, since that's the document you sign, and not on the words you hear". Anyways, this was an off topic paragraph.

it pains to see aged people get missold into unwanted stuffs by bankers. this is rampant and runs across all major banks. everytime my HDFCBANK RM wants to meet me in person, a HDFCLIFE guy will accompany him. if it were my parents/grand-parents in my place, they will definitely believe whatever RM says.

hardships of bankers can never be an excuse for these practices.
misselling is usually selling unwanted products with/without hiding some clause. but here the employee blatantly lied that the card is LTF despite it being a paid card. its daylight cheating using their position.

 

[ccgeek07]

Even we faced a similar mis-selling where I was told that the existing cc will be upgraded. But the app shows applying for a new card with fees. When asked she said that it's for upgrade only and no new card will be delivered. Followed the process and later a new card was delivered. When tried complaining to customer care about this mis-selling scam, a supervisor came in and after discussion it was converted to FYF and other existing card LTF. And yes, this is a PAN India scam.

 

[Pankhuri]

Not only this is pan india, but also across all the major banks. Had similar issue when applying for hdfc regalia through an agent. But during verification call the guy said the name of the card applied, moneyback+. I said I want to apply for regalia and not this. After a brief negotiation we settled on ltf millennia.

 

[vivian]

Thinking of asking Magnus LTF as compensation. 😜

Update : IndianOil card closed, joining fee reversed and Magnus issued as LTF after escalation to MD Desk.

 

[Subhajeet]

Update : IndianOil card closed, joining fee reversed and Magnus issued as LTF after escalation to MD Desk.

can u please guide me how the magnus can be converted as ltf asking for long repeated escalaltion and in which email id please but they are denying please guide step wise

 

[vivian]

can u please guide me how the magnus can be converted as ltf asking for long repeated escalaltion and in which email id please but they are denying please guide step wise

Amitabh.Chaudhry@axisbank.com is the email ID. It is managed by their MD Desk. I don't they will entertain LTF conversion without a strong case. Though, you can try your luck.

 

[souvikdey2002]

Update : IndianOil card closed, joining fee reversed and Magnus issued as LTF after escalation to MD Desk.

How exactly did you convert your case from indian oil to magnus LTF?
I mean it's better for them to give Indian Oil LTF as promised rather than Magnus LTF.
So what did yo do?

 

[vivian]

How exactly did you convert your case from indian oil to magnus LTF?
I mean it's better for them to give Indian Oil LTF as promised rather than Magnus LTF.
So what did yo do?

they charged me joining fee and reversal request was declined by all 5 levels of their support over 30+ days and 10+ tickets, despite providing all proofs.

after involving MD desk and threatening to escalate the case with proofs to RBI BO, they offered me cash compensation to stop escalation. instead i asked for magnus as LTF in return for the time and efforts wasted from my side. and MD Desk gladly obliged as they had the power.