Axis Bank Credit Card Users Hit With Unauthorised International Transactions; What Should Customers Do?

Several Axis Bank credit card users have reported unauthorised international transactions despite deactivating international usage on their cards. Axis Bank credit cardholders allege fraudulent transactions and receive OTPs for transactions they did not make, including international charges. Many took to social media platforms from March 26, 2024, to share their concerns and warn others. Some customers even went on to say the bank refused to investigate their complaints. However, Axis Bank responded to around 20 threads on social media, stating that they had observed unauthorised transactions from specific merchants but claimed there was no system breach.

X handle named Axis Bank Support said, "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 of 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."

But affected users were annoyed and some even opted to close their cards, potentially losing out on their membership and reward benefits earned so far. Some cardholders were fortunate enough not to lose funds due to insufficient balance. This can't prove that the unauthorised deduction the deductor was trying to make was huge, however, they just got the message that transactions were declined due to insufficient balance.

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Those who tried closing even faced technical issues while trying to close their cards.

One customer wrote on X, "Something is VERY WRONG at @AxisBank credit card. One of my cards was used for a fraudulent TXN at Uber Eats Canada. The card was reissued - suddenly fraudulent TXNs on the new card which I don't have yet. Investigation raised at Axis Bank. They REFUSED to investigate."

Another user wrote, "One of the worst credit card experiences. Fraudulent transactions on repeat blocked the card, then there is a fraudulent transaction on the undelivered card."

Another said, "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?"

What Can Customers Do?

To close an Axis Bank credit card, call the number listed on the Call tab on the website or visit any branch. There are no closure charges applicable provided all outstanding dues are cleared. To block a card, you can call Axis Bank credit card customer care at 1860 419 5555 and report the fraud. You can also SMS 'blockcard' to 56161600 or 918691000002. Internet banking users can block their cards through net banking under the 'My Cards' section and select more services. Then click on ‘Block Credit Card’ and choose the card you want to block.

After you file a complaint or request blockage, contact the RBI Ombudsman if necessary. Within 30 days, the card issuer is required to respond to complaints and is liable for compensation for mistakes on the part of the issuer. "If a complainant does not get a 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 grievances,” RBI master rule states.

Action on closure requests must be communicated by the bank or NBFC immediately via email or SMS. Failure to close an account within seven days after receipt of a request to do so will incur a penalty of Rs. 500 per day for the card issuer.