Many Axis Bank credit card customers have taken to social media to complain about fraudulent activities they have noticed. They said they have been noticing transactions they have not authorized or are getting OTPs for transactions they have not done. Some are even reporting unauthorized international transactions on their Axis Bank credit cards.
Let us see some of the posts on social media site, X.
— get2maanas (@get2maanas)
I want to close my Axis Bank Credit Card but I’m unable to do so because I keep getting the “Internal Server Error” on the app. Your customer care is not responding. Could you please look into this and let me know how I can go about my card closure?
— Ajay_Vasani (@Ajay_Vasani)
Something is VERY WRONG at Axis bank credit card. One of my cards was used for a fraudulent txn at Uber Eats Canada. Card was reissued – suddenly fraudulent txns on new card WHICH I DONT HAVE YET. @AxisBank credit card. One of my cards was used for a fraudulent txn at Uber Eats Canada. Card was reissued – suddenly fraudulent txns on new card WHICH I DONT HAVE YET.
— sandeepssrin (@sandeepssrin)
— IamRohitMore (@IamRohitMore)
— khyatisarvang (@khyatisarvang)
If you, too, have noticed such unauthorized transactions, here is what you can do.
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Also read: Axis Bank Credit Card major changes announced: Reward point earnings, lounge access, annual fee waiver rules changed for this credit card
What is a fraudulent transaction
Any transaction in the account that was not authorised directly by the card / account holder is considered to be a fraudulent transaction, as per the Axis Bank website.
What Axis Bank has said
In a response to an Axis Bank card user on its social media handle on X, Axis Bank said, “Hi, we would like to assure our customers that your Axis Bank card remains absolutely safe. There has been no breach of any systems. We have observed a few unauthorised transactions, from certain specific merchants, whom we have blocked. Those amounts are small and are fully. Recoverable. Those customers who would like to reconfirm any transaction or any aspect on their card can contact us directly. We would like to reassure you that we continue to take all steps to ensure robust controls through our advanced transaction monitoring system and transaction reviews. Regards, Team Axis Bank.”
— AxisBankSupport (@AxisBankSupport)
How to close Axis Bank credit card
You can call us from your registered mobile number on the number mentioned on the Call tab or visit us at any of our branches. There are no charges applicable on card closure. However you need to clear your outstanding due to process your card cancellation request. (All active EMI’s and Loan against your credit card will be foreclosed).
How to block Axis Bank credit card
You can call the Axis Bank credit card customer care at 1860 419 5555 and report the fraud.
You can also SMS blockcard to 56161600 or 918691000002.
You may visit any of the nearest Axis Bank branches to raise a request for your credit card closure. You will need to provide your credit card and personal details for verification.
How to block through Axis Bank net banking
Customers of Axis bank can block their credit card through internet banking by following the steps given below:
Step 1: Login to your Axis Bank net banking page.
Step 2: Go to the Account section.
Step 3: Under the ‘My Cards’ option, select ‘More Services’.
Step 4: Click on ‘Block Credit Card’
Step 5: Choose the credit card you want to block.
What you need to file a complaint
- Type of transaction, that is whether the card was used to make an online purchase, or swiped at a retail store.
- Credit card number
- Date on which the fraudulent transaction took place
- Amount of money swiped on your credit card
How to file a complaint
According to the RBI new rules on credit card, “Card-issuers shall be liable to compensate the complainant for the loss of his/her time, expenses, financial loss as well as for the harassment and mental anguish suffered by him/her for the fault of the card-issuer and where the grievance has not been redressed in time. If a complainant does not get satisfactory response from the card-issuer within a maximum period of 30 days from the date of lodging the complaint, he/she will have the option to approach the Office of the RBI Ombudsman under Integrated Ombudsman Scheme for redressal of his/her grievance/s.”
Response 30 days of filing a complaint
Within 30 days of the date of the complaint, the card issuer must respond to a cardholder who disputes a charge with an explanation and, if necessary, documentary support.
Credit card closure rules
The customer must be immediately notified of the closure via email, SMS, etc. by the bank in order for it to honour requests to close a credit card. Customers must be provided various options, such as a helpline, dedicated email address, Interactive Voice Response (IVR), a link that is clearly accessible on the website, internet banking, a mobile application, or any other method, to close their cards; they cannot insist on a certain route.
“Failure on the part of the card-issuers to complete the process of closure within seven working days shall result in a penalty of Rs 500 per day of delay payable to the customer, till the closure of the account provided there is no outstanding in the account,’ stated the RBI.
Card cancellation within seven days
The credit card issuer is mandated by the master directive to comply with any request to cancel a credit card within seven business days, provided that the cardholder has paid all outstanding balances.
It should be noted that if a bank or NBFC doesn’t cancel an account within seven working days, there would be a penalty of Rs. 500 each day until the account is closed, presuming there are no unpaid balances.
According to the master direction, “The card-issuer shall not insist on sending a closure request through post or any other means which may result in the delay of receipt of the request. Failure on the part of the card-issuers to complete the process of closure within seven working days shall result in a penalty of Rs 500 per day of delay payable to the customer, till the closure of the account provided there is no outstanding in the account”