Axis Magnus Burgundy Magnus 5:4 ratio

[drsel]

1) Please post here when your Magnus card with Burgundy status shows a 5:4 conversion ratio.

2) Also post if you have received a brand new Burgundy Magnus card or have the same old Magnus card.

3) Whether the brand new burgundy Magnus card is lifetime free or old Magnus card is made lifetime free because of your Burgundy 10 lac AQB savings account.

So far I don't think anyone in India is getting it, but its supposed to be starting from 15 to 21 September 2023.

Also kindly let us know how simple and easy it is to convert your existing ordinary savings account in Axis Bank to a Burgundy savings account. Thanks 🙏

 

[Dragon_slayer]

It's completely unacceptable behavior by Axis at this point. It's been 21 days in September, and they still haven't given any clarifications to Burgundy clients. Horrible 👎

 

[drsel]

They are trying to grab as many Burgundy 10 lakhs clients as they can get before they start giving the offer

 

[PavanPavan is verified member.]

My Burgundy relationship manager said that for 10 lacs AQB, the 90 day period is considered from the start of opening the Burgundy account and not the calendar quarter of 90 days

So no transfer for 90 days!!

 

[drsel]

So no transfer for 90 days!!

You can transfer money out of the account but you have to replace it to maintain 10 lakhs

 

[drsel]

If used properly , Amex points are worth around 50-70 paise in Marriot to 1.5-2 Rs in Virgin Atlantic and Cathay Pacific.

I am referring to only economy class tickets for international flights

 

[anirban.choudhuryanirban.choudhury is verified member.]

I am referring to only economy class tickets for international flights

Yes even that
A normal Virgin Atlantic economy flight from Delhi to LHR costs about 52k-60k if booked via revenue and the same requires 20k Amex points + 9800 if booked through miles.

 

[drsel]

Yes even that
A normal Virgin Atlantic economy flight from Delhi to LHR costs about 52k-60k if booked via revenue and the same requires 20k Amex points + 9800 if booked through miles.

Is that a return flight ticket?
So only 10000 Amex points for a One way ticket?

 

[coolguy1]

It's completely unacceptable behavior by Axis at this point. It's been 21 days in September, and they still haven't given any clarifications to Burgundy clients. Horrible 👎

These are HNI members holding lots of money in their accounts, treating them like this in no way feels acceptable.
Not sure what they are trying to achieve with this.

 

[drsel]

They are just waiting to collect maximum deposits.
once the demand drops, they will give some incentive

 

[anirban.choudhuryanirban.choudhury is verified member.]

Is that a return flight ticket?
So only 10000 Amex points for a One way ticket?

This is for one way
10k Virgin Atlantic points that is 20k Amex point
Return is 20k Virgin Atlantic points or 40k Amex

 

[drsel]

This is for one way
10k Virgin Atlantic points that is 20k Amex point
Return is 20k Virgin Atlantic points or 40k Amex

Thanks, which are the partner hotels and Airlines for reward points of Amex merchant rewards credit card MRCC?
Is Accor included?

 

[anirban.choudhuryanirban.choudhury is verified member.]

Thanks, which are the partner hotels and Airlines for reward points of Amex merchant rewards credit card MRCC?
Is Accor included?

Hotels you can transfer to Marriot at 1:1 and Hilton Hinours at 1000:900

For FFP you get Asia miles , VS , BA, Qatar , Kris , and Vistara except Vistara all at 2:1 and Vistara goes at 3:1

 

[kapsshah42]

You can transfer money out of the account but you have to replace it to maintain 10 lakhs

My question is if I transfer 10L to my burgundy account which is linked to a family account.
1 How long will it take to get 5:4 trnf ratio?
2 Once I am done with the transfer can I transfer it to other family member account so that they can transfer theirs?And then back to mine.

 

[CMGCMG is verified member.]

My question is if I transfer 10L to my burgundy account which is linked to a family account.
1 How long will it take to get 5:4 trnf ratio?
2 Once I am done with the transfer can I transfer it to other family member account so that they can transfer theirs?And then back to mine.

5:4 Magnus Burgundy is not yet implemented by Axis.

 

[Cardmarvel]

I just had a word with customer support. Had called to close my Samsung card but also enquired about Magnus + Burgundy status. She says there is no timeline yet and the product team is working on it. So for now, treat everything as a rumour

 

[drsel]

My question is if I transfer 10L to my burgundy account which is linked to a family account.
1 How long will it take to get 5:4 trnf ratio?
2 Once I am done with the transfer can I transfer it to other family member account so that they can transfer theirs?And then back to mine.

1. Nobody knows, not even Axis Bank officials and customer care
2. You can keep on transferring funds between your family members accounts , but the average quarterly balance should be 10 lakhs in order to qualify for the Magnus burgundy card with 5:4 ratio

 

[anirban.choudhuryanirban.choudhury is verified member.]

1. Nobody knows, not even Axis Bank officials and customer care
2. You can keep on transferring funds between your family members accounts , but the average quarterly balance should be 10 lakhs in order to qualify for the Magnus burgundy card with 5:4 ratio

As per the latest update family banking is not eligible for burgundy magnus, each member in family banking need to be individually eligible to get magnus burgundy

 

[starstruck]

Is two single holder bank account possible in Axis? Can keep 5 lakhs in both accounts and be under DICGC coverage.

 

[Deleted member 11974]

Is two single holder bank account possible in Axis? Can keep 5 lakhs in both accounts and be under DICGC coverage.

yes
just make sure you open both with different branches

 

[starstruck]

yes
just make sure you open both with different branches

Thanks for the info.