Welcome offer cashback issue

[Basil Baby0729]

Hello TF Community,

I had recently applied for a neo credit card from axis bank, in which they had mentioned a welcome offer of 100% upto 300 rs on first utility transaction. I did two transactions on that day which was of 319 and 51, as per axis bank they said that 51 was settled before 319, and 51 was credited as cashback to my account.

Should i make this a complaint to the RBIO ?

Is the first transaction means first settled transaction?

Why was the 51 rs transaction settled first, is axis bank fooling me?

 

[vega]

Hello TF Community,

I had recently applied for a neo credit card from axis bank, in which they had mentioned a welcome offer of 100% upto 300 rs on first utility transaction. I did two transactions on that day which was of 319 and 51, as per axis bank they said that 51 was settled before 319, and 51 was credited as cashback to my account.

Should i make this a complaint to the RBIO ?

Is the first transaction means first settled transaction?

Why was the 51 rs transaction settled first, is axis bank fooling me?

A trasaction gets settled when the merchant claims the amount from the issuing bank through it's acquiring bank. You did two transactions on the same day. 51 was claimed before 319 and the axis system credited 51 as cashback which is 100% as per the activation offer.

 

[Basil Baby0729]

So there is no use in complaint right?... Yea it was my fault by transacting that 51 rs that day😐.

 

[vega]

So there is no use in complaint right?... Yea it was my fault by transacting that 51 rs that day😐.

Y E S.

 

[akshayhs]

You can only complain to RBIO if the offer was not fulfilled. Your reason cannot be justified to RBIO. Axis will return right back with the settled transaction order and cashback amount given to customer. Your have just basically wasted your opportunity to get the maximum possible cashback.

 

[Basil Baby0729]

You can only complain to RBIO if the offer was not fulfilled. Your reason cannot be justified to RBIO. Axis will return right back with the settled transaction order and cashback amount given to customer. Your have just basically wasted your opportunity to get the maximum possible cashback.

Yeah did a -100 iq move😅

 

[avinash007]

Same here bro.
I also get lower amount.

 

[xfactcc]

@Basil Baby0729 I would from personal experience say still escalate and go to RBIBO if needed.

I have also faced discouragement from other users stating their logic like this previously, still went on by faith and won cases in RBIBO also.

The offer states 100% cashback on first transaction, implied that first successful transaction. Complain with the statement showing the first successful transaction date and time from your end.

It was not mentioned to you that it will have to be settled by the bank in the offer details, and such cannot be presumed also, as it is bank and marchant's internal matter and not your liability. You may prevail.

 

[Recon]

You just don't deserve a CC 😅😂

 

[Basil Baby0729]

@Basil Baby0729 I would from personal experience say still escalate and go to RBIBO if needed.

I have also faced discouragement from other users stating their logic like this previously, still went on by faith and won cases in RBIBO also.

The offer states 100% cashback on first transaction, implied that first successful transaction. Complain with the statement showing the first successful transaction date and time from your end.

It was not mentioned to you that it will have to be settled by the bank in the offer details, and such cannot be presumed also, as it is bank and marchant's internal matter and not your liability. You may prevail.

Oh yes, got my first supporter here.tnx bruh.. yeah then I'll proceed with the complaint and update after the BO's decision.

 

[xfactcc]

Oh yes, got my first supporter here.tnx bruh.. yeah then I'll proceed with the complaint and update after the BO's decision.

Rely heavily on the fact that the offer mentioned 'first (successful) transaction', you did first successful transaction, the factor here is time stamp. Settlement is internal between bank and marchant and not liability of the customer, apart from whether it was successful transaction or not.

 

[vega]

Rely heavily on the fact that the offer mentioned 'first (successful) transaction', you did first successful transaction, the factor here is time stamp. Settlement is internal between bank and marchant and not liability of the customer, apart from whether it was successful transaction or not.

A few lingo from initiation till completion.

Processing/pending settlement = you entered OTP, the card network and your bank has given green light, trasaction amount blocked.

Posted/settled = successful transaction = sanctioned by issuing bank of acquiring bank's token of PROCESSED Trasaction.

In b/w, the trasaction can be disputed and discounted as successful transaction.

Hope It made sense.

 

[Basil Baby0729]

A few lingo from initiation till completion.

Processing/pending settlement = you entered OTP, the card network and your bank has given green light, trasaction amount blocked.

Posted/settled = successful transaction = sanctioned by issuing bank of acquiring bank's token of PROCESSED Trasaction.

In b/w, the trasaction can be disputed and discounted as successful transaction.

Hope It made sense.

Oh so as per banking terms successful transaction means settled transaction. So there is no use of complaining. I have raised a complaint hope that gets rejected.

 

[vega]

Oh so as per banking terms successful transaction means settled transaction. So there is no use of complaining. I have raised a complaint hope that gets rejected.

Complaint is your right. You must do it to clear the air. And who know we might get some new information. You did good thing.

 

[xfactcc]

A few lingo from initiation till completion.

Processing/pending settlement = you entered OTP, the card network and your bank has given green light, trasaction amount blocked.

Posted/settled = successful transaction = sanctioned by issuing bank of acquiring bank's token of PROCESSED Trasaction.

In b/w, the trasaction can be disputed and discounted as successful transaction.

Hope It made sense.

I thought a successful transaction is when money has been deducted and marchant has given receipt of successful transaction/service rendered.

 

[Dreams Of Desire 💓]

Axis🤬🤬
Do it bro. Ask for 1lakh compensation as mental harrasment

 

[Basil Baby0729]

Update: Checked my axis bank statement today and they credited the difference amount also an excess of 19 rs😂😂😂. Rbi Ombudsman is the best.