Shouldnt banks start mentioning the MCC CODE for each transaction?

[the_collector]

Food for thought:

We clearly don't know what the MCC IS FOR A PARTICULAR transaction while making the payment.

The only solution is making a small payment and then calling customer care. All this while waiting to make the actual payment.

More importantly it is the businesses that set up their machine with wrong mcc codes.

Banks clearly play the MCC game and refuse to credit points and blame the merchant.
But even at times when it's the right merchant , they don't credit the right cashback.

All through this, the consumer is the one at loss because we lose out on points because of nil transparency.

Shouldnt banks just start mentioning the MCC CODE below the transaction in the mobile app?

This shouldn't be hard to implement as bank's anyways have this data.

This will help clear out a lot of confusion.

Can we collectively do something about this? Such as raise complaints to RBI?

Would love to know your thoughts!

 

[Exewhyzee]

No. People should do some hustle. There's no fun in easy life.

 

[the_collector]

No. People should do some hustle. There's no fun in easy life.

Why should people fight in the first place if they're not in the wrong?

This isn't about " hustle" , the reward is already something you're entitled to.

It's about already getting what you're supposed to but avoiding going back and forth with the bank

 

[BeingIncog]

 

[the_collector]

View attachment 80245

Hehe, bhai not entitlement if youre already supposed to get something and the banks and don't provide it.

This will only be useful in cases where banks play the blame game...

And lastly, banks openly use MCC codes under their list of exclusions on the websites etc... will only be fair if we see what MCC each transaction is no?

 

[rajcasio]

Banks clearly play the MCC game and refuse to credit points and blame the merchant.
But even at times when it's the right merchant , they don't credit the right cashback.

Yourself answered the question

Coming to the point...In my personal experience KOTAK INDIANOIL CC statement is way better than any other bank statement