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
VISHESH_BANSAL
TF Pioneer
I would not be surprised if Someone create a new thread for:-
"How to Create Fake GST Invoices"🤣
It is possible but requires expert level Skills and Rokda💰
Ek kaand ko hide karne ke liye second and then Third.....
"How to Create Fake GST Invoices"🤣
It is possible but requires expert level Skills and Rokda💰
Ek kaand ko hide karne ke liye second and then Third.....
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Hi I haven't used bharatnxt before.
But just had a question that if these people who rotated money using bharatnxt are able to justify saying that the Transferred the money to their account to pay rent on their house or EMI?
What will happen to them
Is this a valid answer which axis might accept
But just had a question that if these people who rotated money using bharatnxt are able to justify saying that the Transferred the money to their account to pay rent on their house or EMI?
What will happen to them
Is this a valid answer which axis might accept
By this logic they should give points on wallet reload as well 😂
There are some transactions from which bank is earning nothing. And instead have to do work on your behalf, so taking charge is a way to either demotivate you to do these txn or to recover convenience fee.
Haha.. Exactly. Money rotation on credit card itself is prohibited (officially atleast). Ab ye batana ki "humne kam bura wala rotation kiya hai" doesn't make a good excuse.
Ask them to show the terms and conditions for it.
It's simple: they require an invoice. As per the original post screenshot, generating an invoice for money rotation through Bharatnxt is it possible? Axis Bank will consider it a business transaction since the MCC of Bharatnxt is categorized as "business." Consequently, only a few individuals will benefit from using Bharatnxt with their Magnus card. In fact, most Magnus cardholders might face deductions in their reward points, or worse, Axis Bank could cancel all their reward points and credit cards.
This is a good thing only. This is a classic tragedy of the commons: https://inomics.com/terms/tragedy-c...ics, the Tragedy of,if it had been maintained. This is like people not buying ticket for a bus because conductor is not checking. It is beneficial for those who use it properly 🙂
It isn't prohibited.
There was a loophole in which mdr was being borne by paytm until now.
There is always a mdr that is being paid so it becomes a cash advance transaction technically
I personally feel if you are charging mdr then you should be crediting points because at the end of the day the points that are being credited not talking about bonus or milestone normal reward points it is being funded directly or indirectly through the person rotating money
Q- IF WE MAKE PAYMENT SOME vendors for genuine payments using bharnxt will that also count as illegal transaction. Some hotels dont have CC but have UPI, where bharatnxt comes in handy. Such transactions ar elargely less than 10k a month
"illegal transaction" - business transaction it will counted and no axis shouldn't send notice or raise any issue with the cc holder. it the amount that OP have spend, got axis thinking let me check this cc holder volume on this merchant.
After all this, if you still want to do it via Bharatnxt, get an invoice under your name.
Farhad sekh
TF Premier
I must appreciate
Your sense of humour is much more better
Yup. That's why I said "officially". No bank will issue a credit card assuming/knowing that user will rotate money. And if MDR is the only criteria, Gambling and Crypto purchase should also be legal then. In the end, it comes down to playing against the rules and the system. Either bank or IT deptt will come after if they smell something fishy.
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