So basically a huge scam has been going on where people steal your Axis bank debit card details from somewhere and transact using it online. Now the thing is, these cards also require an OTP for the transaction to proceed which these scammers get access to somehow. My guess is they hack through Truecaller and gain access through it. (When my relatives got scammed, they faced an odd activity on Truecaller. Their messages were being deleted). How they get access to your card details is also a mystery to me.
This scam has been going since 2018 from what I can see and Axis Bank doesn't provide any resolution except saying "Sir OTP was used so therefore its not our problem, it can't be called a fraud and we can't help"
This scam is EXCLUSIVE to just AXIS BANK so im guessing a rogue bank employee being involved is highly likely but I can be wrong. The sources I have provided below, all had Axis Bank accounts
So if you have an Axis Bank account and use Truecaller, pls be advised and take the necessary steps. Even if you uninstall Truecaller, your card details are still out soo it's upto you to take the wise decision. And pls inform this with others to make them vigilant
This is also a sign to delete Truecaller
Here are some of the sources/links of all the people defrauded:
(https://consumercomplaintscourt.com/tag/ecom-pur-google/)
(https://www.facebook.com/ConsumerComplaintsCourt/posts/2481743785390031)
I have been thinking about getting this for a while now and even contacted flipkart and axis bank executives over the call but they seem to give ambiguous and different answers everytime.
Anyone here who actually own this card and can provide information on this would be really helpful.
- Do I need axis bank saving account to get this? Because I don't have one and don't plan on opening a account with axis just to get the card. Is it possible to just get the card like Amazon ICICI credit card.
- How is the cashback credited? In the axis account? Some executive mentioned that it is adjusted in the limit that you have. How does that work?
- Is it free for lifetime as they claim? There is no joining or annual fee or there is a certain limit you need to spend in order to get the annual fee waived? I checked on the axis website and it is mentioned that 500 Rs is the charges.
Any other information or detail I need be aware of or I missed.
Thanks.
Edit: Thank you everyone for all the information. Appreciate the help.
Hi I joined one company in nov 2018 and they forced me to open Axis account in order to receive salary. After 2 months that company stopped paying their employees due to financial crunch so I left that company. After leaving that company I visited bank branch in 2019 to close my account as I already had 2 accounts from another bank but bank representative said don’t use your account it will close automatically verbally. After that I shifted to another state due to work and in October this year I found my old phone in which axis app was installed. I curiously entered mpin and found my saving account was still open with some balance around -500. Next day I rushed to bank with welcome kit which had booklet, check book and debit card. Bank representative gave me a account closure form to sign and took welcome kit. In return she gave me first page of checkbook and said you will receive account closure confirmation. she also said there no need to pay since this account is dormant from last 2 years. Yesterday I received a call from bank manager that I’ve to visit branch and pay around 20000 inr as panelty. I have no clue what I’m suppose to do
I started in the banking sector with 2 Axis Bank shares when it was priced around 774. After that it is continuously sinking. I was willing to hold it for long term but looks like it's gonna stay low for a while now. Should I exit Axis Bank or stay?
Axis Bank on January 24 reported a 224 percent year-on-year rise in its net profit at Rs 3,614 crore for the quarter ended December, which was sharply above analysts’ expectations of Rs 3,046 crore.
The private sector lender also reported a 17 percent on-year growth in net interest income to Rs 8,653 crore for the quarter ended December, which was also above Street’s estimate of Rs. 8,230 crore.
The lender had a strong performance on the asset quality front as gross non-performing ratio slipped 36 basis points sequentially to 3.17 percent. Similarly, net NPA ratio also fell 17 basis points on-quarter to 0.91 percent.
Axis Bank said its net loan slippage ratio declined 38 basis points on-quarter to 0.06 percent in the reported quarter. Specific loan-loss provisions in the quarter declined to Rs, 790 crore from Rs. 927 crore in the previous quarter.
“The Bank has not utilized Covid provisions during the quarter. The Bank holds cumulative provisions of Rs. 13,404 crores at the end of Q3FY22,” Axis Bank said in a filing to the exchanges.
Fee income during the quarter grew 15 percent on-year to Rs. 3,344 crore whereas trading profits and miscellaneous income stood at Rs. 367 crores and Rs. 130 crores, respectively.
On the advances front, Axis Bank posted 18 percent year-on-year growth in retail loans and a 37 percent jump in retail loan disbursements. The private sector lender also showed healthy growth in corporate loans in the quarter, which grew 13 percent on-year.
Also Read : Axis Bank Q3 result preview: Profit may rise 3-fold as bad loan provisions slump
“We are optimistic about the future and plan to leverage every sustainable growth opportunity that is available to us,” said Amitabh Chaudhry, managing director and chief executive officer at Axis Bank.
Total deposits of the lender grew 20 percent on-year to Rs. 7.7 lakk crore with current account-savings account deposits rising by 22 percent on-year. The lender’s CASA ratio improved 189 basis points on-year to 44 percent.
Overall capital adequacy ratio (CAR) including profit for the first nine months of the current financial year stood at 18.72 percent with common equity tier-I ratio of 15.33 percent.
Axis Bank’s operating profit rose 17 percent on-year to Rs. 6,162 crore while core operating profit grew 9 percent. Core operating profit excludes trading profit and gain or los
... keep reading on reddit ➡Is it a good buy @711 levels? Major brokerages have a target of 900+ It is also at its 50 and 200 DMA so a good support for current levels.
I entered axis bank at 714 earlier this month and today It fell more than 3%. I couldn't find any reason. Is there any bad news for the stock that I am missing or is it just profit booking
I also received an Email and an SMS from Axis Bank saying that my name has successfully been updated in the records.
So recently I needed a thing where I could fetch my current bank balances from the banks I have an account in. Upon checking , I saw both Axis and Kotak have their own apis with endpoints to access bank balances and much more. But the documentation is really poor. Is there anybody who has worked with these apis before that can help me out with the endpoints and authentication requirements to fetch one's balances and other details.
