Axis Magnus Rumor with burgundy axis magnus could be LTF (by Sep 2023 it should be official by axis i think you never know though)

[shibili]

Just received confirmation from bank officials that they will provide Magnus LTF for Burgundy customers from Sep 1st onwards

 

[SM24]

How does one check this stuff? My parents are both AXIS Burgundy and I got the Magnus 2 months back via TRV. We been Priority Banking customers for long time; 10+ years. Wondering why I never got into CC/ Magnus game earlier.

Is there some way to get Burgundy or related perks via Parents Burgundy.,. since I read this Family Burgundy you folks talking about.

Check account details section on app.

Probably the same should show on web too.

 

[insight]

How does one get the Magnus via TRV?!

The RM who manages your Priority Banking tends to reach out to the CC Dept. Takes a bunching of pushing, follow-up and waiting.
Do you have a good TRV with Axis?

 

[Trust Me]

Do you have a good TRV with Axis?

I do, but not a good RM. Incompetent would be a very mild description!

 

[insight]

I do, but not a good RM. Incompetent would be a very mild description!

So whats happening is best of Axis RMs are and have been leaving for better pastures and only "freshers" are being hired.

Some "cartel like" non poaching agreement thing between some major banks has cause "experienced" good staff to leave outside of the Cartel.

Idiotic to think they have a hold on the job market when there's plenty outside of their circuit.

^ This insight comes from a former RM of ours, who has already jumped 2-3 jobs over last 2-3 years for hikes (was with axis for 7-9 years). Still in touch and good person and hence maintained relations with us & family

Even current RM who is good, but younger and not as experienced is leaving to start a business venture.

The observation is that its gonna get worse in terms of RMs

If someone here has the EAR of Axis Executive Mgmt, please tag them so they get this feedback.

 

[Trust Me]

So whats happening is best of Axis RMs are and have been leaving for better pastures and only "freshers" are being hired.

Some "cartel like" non poaching agreement thing between some major banks has cause "experienced" good staff to leave outside of the Cartel.

Idiotic to think they have a hold on the job market when there's plenty outside of their circuit.

^ This insight comes from a former RM of ours, who has already jumped 2-3 jobs over last 2-3 years for hikes (was with axis for 7-9 years). Still in touch and good person and hence maintained relations with us & family

Even current RM who is good, but younger and not as experienced is leaving to start a business venture.

The observation is that its gonna get worse in terms of RMs

If someone here has the EAR of Axis Executive Mgmt, please tag them so they get this feedback.

I happened to have a reasonably experienced, and a good person as my RM at Axis to start with (but apparently he didn't have enough clout to get things done efficiently in the Axis system). Regrettably, he had felt unappreciated, and left. He was replaced by a good-for-nothing RM.

My RM at HDFC on the other hand, is a very experienced one (the most experienced employee in the branch, -- even more than the BM). But he is not a good person, -- he is only after his own interests, and apparently not interested in helping me out in any way. He keeps wasting my time over trivial things, and even seems to mock me at times! Needless to say that he is not going to get any more business from me through him.
.

 

[mowgli]

I happened to have a reasonably experienced, and a good person as my RM at Axis to start with (but apparently he didn't have enough clout to get things done efficiently in the Axis system). Regrettably, he had felt unappreciated, and left. He was replaced by a good-for-nothing RM.

My RM at HDFC on the other hand, is a very experienced one (the most experienced employee in the branch, -- even more than the BM). But he is not a good person, -- he is only after his own interests, and apparently not interested in helping me out in any way. He keeps wasting my time over trivial things, and even seems to mock me at times! Needless to say that he is not going to get any more business from me through him.
.

I wouldn’t say they should treat customer is the king type. But mocking is definitely out of line be it you are going to give business or not to them. You should report it to next level or branch manager alongwith audio recording if possible. Or request for change of RM

 

[deepcards]

I wouldn’t say they should treat customer is the king type. But mocking is definitely out of line be it you are going to give business or not to them. You should report it to next level or branch manager alongwith audio recording if possible. Or request for change of RM

I want to know, what exactly does the RM do? I am from Investments background myself, like to invest/buy insurance/etc myself. What all help can the RMs provide- assuming a good RM.

 

[mowgli]

I want to know, what exactly does the RM do? I am from Investments background myself, like to invest/buy insurance/etc myself. What all help can the RMs provide- assuming a good RM.

Here is a link that I found. but overall, generating more revenues for customer who are highly valuable to the bank 😁

Job Details

 

[SSV]

I want to know, what exactly does the RM do? I am from Investments background myself, like to invest/buy insurance/etc myself. What all help can the RMs provide- assuming a good RM.

In simple, non preofessional terms, this person facilitates a good working relationship between the Bank ( via BM) and the customer by providing some non useful services to the customer and there by trapping the customer to increase the revenue to the Bank by selling unsold products/ high margin products..

In crude words,most RMs are fresh from Uni and introduced in to the Banking system performing various secraterial / post man services to both the customer and BM with no decision making power...

 

[deepcards]

In simple, non preofessional terms, this person facilitates a good working relationship between the Bank ( via BM) and the customer by providing some non useful services to the customer and there by trapping the customer to increase the revenue to the Bank by selling unsold products/ high margin products..

In crude words,most RMs are fresh from Uni and introduced in to the Banking system performing various secraterial / post man service to both the customer and BM with no decision making power...

So in short, RMs are useless, and if one can handle the investments, insurance, etc themselves, RMs are not needed?

 

[SSV]

So in short, RMs are useless, and if one can handle the investments, insurance, etc themselves, RMs are not needed?

Precisely.
You are a good boy, learning things very quickly and your grasping power is superb.. Collect your chocolates after the class... 😉 😉
A++++++ grade for you

 

[mowgli]

So in short, RMs are useless, and if one can handle the investments, insurance, etc themselves, RMs are not needed?

Not entirely. They can help speed up the line to a queue if you ask me based on your requirements (Eg loan) or best interest rate.. They can even tell you where you can invest your money based on collective growth of other successful customers.
All these are much better than contacting customer care

 

[SSV]

Not entirely. They can help speed up the line to a queue if you ask me based on your requirements (Eg loan) or best interest rate.. They can even tell you where you can invest your money based on collective growth of other successful customers.
All these are much better than contacting customer care

Some valid points in some cases...
However YMMV..this applies to everyone..

One thing is correct, we can not rubbish them in all cases...some exceptions will be there in some use cases

 

[gg123]

Twitter DM is now refusing to answer about Magnus Fee waiver

 

[Diptajit]

Today someone from Axis told me that no offer on Burgundy for Magnus card (like complimentary card). If new Magnus, then FYF. Nothing for existing members.

P.S.: I don't think he has the official information. Will have to wait for 1st September.

 

[SSV]

Twitter DM is now refusing to answer about Magnus Fee waiver

Today someone from Axis told me that no offer on Burgundy for Magnus card (like complimentary card). If new Magnus, then FYF. Nothing for existing members.

P.S.: I don't think he has the official information. Will have to wait for 1st September.

Please guys, don't put them in a corner..
They themselves don't know, even if they know something today, it will change tomorrow anyway..
They are in a big self-made mess..and they are confused..Let them regroup among themselves. We will know in 2 weeks time anyway.. Om Shanti 🕉

 

[deepcards]

You meant Om Shanti (RIP) Magnus/Axis?

 

[gg123]

Please guys, don't put them in a corner..
They themselves don't know, even if they know something today, it will change tomorrow anyway..
They are in a big self-made mess..and they are confused..Let them regroup among themselves. We will know in 2 weeks time anyway.. Om Shanti 🕉

I wanted to opt for axis select. but waiting for sept 1st. but I do have one question though please help me if you have the answer.
I will only maintain AQB for burgundy till January after that I'll just maintain 5-6 L. let's say I'll get downgraded in march.
will the select become chargeable ? though this is official rule. I have read they usually won't charge but BM said they will charge. if there is anyone that can confirm it is LTF ?

 

[Trust Me]

I will only maintain AQB for burgundy till January after that I'll just maintain 5-6 L. let's say I'll get downgraded in march.
will the select become chargeable ? though this is official rule. I have read they usually won't charge but BM said they will charge. if there is anyone that can confirm it is LTF ?

The Select specifications say that it is LTF for Burgundy customers (otherwise 3k + GST). The BM said it would become chargeable once you lose your Burgundy status. I don't see any scope for confusion.

If, based on something you've read somewhere, you choose to believe that they would take pity on you, that's on yourself!

 

[gg123]

The Select specifications say that it is LTF for Burgundy customers (otherwise 3k + GST). The BM said it would become chargeable once you lose your Burgundy status. I don't see any scope for confusion.

If, based on something you've read somewhere, you choose to believe that they would take pity on you, that's on yourself!

@TechnoFino Mentioned in a post that "They usually don't charge"