Transaction cancelled on Axis CC

[lightwaves]

Hello Community,

Two weeks ago I ordered a laptop on Flipkart using my Flipkart Axis CC. After a few minutes I cancelled the order and The next day Flipkart confirmed they have refunded the full amount to Axis.

However, Axis has still blocked that amount from the total credit limit. However, there’s no transaction listed in the transactions section.

I reached out to Axis customer care and they said the merchant has not claimed the amount so for 30 days they’ll wait and then release it if it’s not claimed for 30 days.

What I’m wondering is,
1. Is this normal for the bank to block the amount for 30 days?
2. If the statement is generated before the amount is released, do I have to pay that amount?
3. How can I get Axis guys to release this?

Thanks

 

[Paradjanov]

Hello Community,

Two weeks ago I ordered a laptop on Flipkart using my Flipkart Axis CC. After a few minutes I cancelled the order and The next day Flipkart confirmed they have refunded the full amount to Axis.

However, Axis has still blocked that amount from the total credit limit. However, there’s no transaction listed in the transactions section.

I reached out to Axis customer care and they said the merchant has not claimed the amount so for 30 days they’ll wait and then release it if it’s not claimed for 30 days.

What I’m wondering is,
1. Is this normal for the bank to block the amount for 30 days?
2. If the statement is generated before the amount is released, do I have to pay that amount?
3. How can I get Axis guys to release this?

Thanks

1. No. quite unusual, I’d say.

2. Even if the statement is generated (with the transaction charged to you), you can certainly e-mail Axis Bank with the seller’s confirmation (screenshot of e-mails, etc) that the cancellation has already been effected and the money returned to the bank. FYI, all CC statements come with a dispute resolution time-frame. Check the screenshot attached to see the same for Axis Bank.

3. Point 2 should work. I doubt if you’d have to go beyond this, but if you still need to, let us know later.

 

[bs77]

1) yes , it can happen. ( It's to protect both parties for dispute reasons)
2 you should pay, in order to avoid short payment and interest and bad report to cibil
3) auto release after set time frame.

 

[lightwaves]

you can certainly e-mail Axis Bank with the seller’s confirmation (screenshot of e-mails, etc) that the cancellation has already been effected and the money returned to the bank

Yes, I’ve already shared the screenshot of successful refund to Axis. But they repeat the same statement that please wait for 30 days

 

[coolguy1]

As long as the transaction doesn't show up in your transactions, you don't need to worry about it.

Let them take a few weeks for their mental sanity, could be due to your risk profile or the merchant's policies.
You shouldn't be asked to pay for it as it doesn't show up in your transaction history.

 

[lightwaves]

Hello Community,

Two weeks ago I ordered a laptop on Flipkart using my Flipkart Axis CC. After a few minutes I cancelled the order and The next day Flipkart confirmed they have refunded the full amount to Axis.

However, Axis has still blocked that amount from the total credit limit. However, there’s no transaction listed in the transactions section.

I reached out to Axis customer care and they said the merchant has not claimed the amount so for 30 days they’ll wait and then release it if it’s not claimed for 30 days.

What I’m wondering is,
1. Is this normal for the bank to block the amount for 30 days?
2. If the statement is generated before the amount is released, do I have to pay that amount?
3. How can I get Axis guys to release this?

Thanks

1. Axis took exactly 30 days to release this amount.
2. Statement was generated before the amount was released, but it was not included in the statement. So no additional payment is required.
3. Reaching out to Axis CC didn’t help.