Axis Bank Customer Consent: Fill & Download for Free

Axis Bank Savings (ASAP) AccountSo here is my experience. I needed a new bank account. I asked some of my friends about recommendations. One of them told me about Axis Bank ASAP savings account. I opened their website. They were claiming for opening savings account within 3 minutes. Wonderful right?So I downloaded their android app and started the procedure. Everything was smooth until the registration failed at the last step while I was adding thr mandatory funds of Rs. 1000( zero balance account). So I closed the app for trying later but immediately I got a call from their customer service representative and he asked me to do the process using Google Chrome. This time I was able to complete the whole process including adding Rs. 1000.Though it did take more than 10 minutes each time I tried, I was okay with it. They also gave me a virtual visa debit card. I was more than happy. Then I thought that I should make my first transaction with this account. And tried adding money to my Paytm account using the Virtual Card. I was surprised to see that the Axis bank had declined the transaction. Then I opened the Axis ASAP app and tried to check if their is any permission which I need to grant. I didn't find anything. Even I checked their website where it was mentioned that I can make online transactions as soon as I have a virtual Debit Card.This is the Debit Card they allotted to me.I got little worried so I tried making UPI transfer using FreeCharge app but it again failed. And I had this strange message on the screenWhat? I have no account in Axis Bank? I even got the email from Axis regarding account opening. How is that possible then? So I again tried using IMPS. This time again the transaction failed due to this non- availability of MMIDI could not find from where to request MMID.Then I tried to Set Debit Card PIN in case there is a problem with PIN. But this time it was even more shockingHow is that possible? I have the virtual Debit Card still it's saying that there is no such debit card in my name?Then I checked my SMS inbox whether there is something which I was missing! But this time I was again shocked to see that they have issued me a physical Debit card which I don't need and they were charging me Rs. 300+ GST.Though it says that I have opted for it, I don't remember about ordering it.Then the same customer service representative called me if I have opened the account or not. I told him the whole issue and about Debit card charges that I don't want it. He told me that your account is opened but it will take sometime to enable transactions. And I have opted for the Debit card so I must pay for it. I asked him about expected time in allowing me to do transactions to which he has no answer. I also asked him about their misleading advertisement of opening savings account within 3 minutes to which he said “They Process the Application within 3 Minutes”. I again asked for expected time. So he told me that he is asking his seniors and asked me to hold on. After a minute he told me that my account has been opened and I have to talk to their customer care team. What? Whom I have been talking to then? Can you imagine that the whole customer care team of Axis Bank didn't have a clue about it? I felt cheated and asked him to close my account to which he again started telling me that it will take some time, so I dropped the call. And made a call to the customer care no. which they messaged me i.e 1800 209 5577.Again a big surprise. The no. was changed but thanks to IVR which provided the other no. And when I called it, I thought of resetting the Debit Card pin again. The IVR asked me for all details regarding Debit Card no., Expiry date and my date of birth. This time was not much different. The IVR told me that I am telling them wrong date of birth. Lol. I don't know my date of birth.Never in my life I had this kind of bad experience. And I had big expectations from Axis Bank but they disappointed me. I am never going to use this account after I withdraw whatever amount they leave for me after charging for whatever I have consented to( without knowing). Avoid these fraudsters, if you can.

Axis Bank along with Visa has now introduced biometric (fingerprint) based eKYC offering to Aadhaar registered individuals to open bank accounts.How it works:1) To open an account with Axis Bank all you need to do is, walk into the bank branch.2) Provide your Aadhaar number to the banker, who will submit it on the UIDAI server.3) Do a biometric scan of your finger on the biometric reading device connect to UIDAI server vis Visa Network.4) Then authentication, online validation and your identity is confirmed at the back end via Visa Network.Representational image.5) You get see a transaction receipt on the screen, which has all your demographic information stored with Aadhaar, like your name, address, date of birth, gender, mobile number along with your photograph and a transaction number.6) The banker will then login into Axis Bank system, submit the transaction number (at this point you e-KYC sis done) and you get a new bank account welcome kit on the spot with the bank.In short, instead of submitting a number of photocopies for proof of address and proof of identify, all you need to do is show your fingerprint instead."A key challenge for the customers, while opening bank accounts is providing address proof, identity proof and physical copies of documents. eKYC simplifies the KYC process and provides a seamless customer experience to the Aadhaar registered individuals to open bank accounts,"Shikha Sharma, MD and CEO, Axis Bank said in a statement."The same e-KYC facility in the future can be used to buy Mutual Funds as well as insurance policies, as both Sebi and IRDA agreed to allow Aadhaa eKYC as valid identity proof,"Nandan Nilekani, Chairman, UIDAI said.RBI had notified eKYC as an 'officially valid document' under anti-money laundering laws on September.The information needed to be provided in the application form for a savings account will be minimal due to this facility.For availing of other products, like loans, from the bank you will have to provide additional documents. If the bank intends to cross sell additional products, you will have to do the finger scan again, since the eKYC process cannot take place merely with the customer's consent.For this, either you would have to visit the bank, or expect a bank correspondent to visit you, if such a facility is provided by the bank in your area.What we think:This spares you the headache of the paper KYC procedure. Axis is the first bank to offer such a facility. More banks, fund houses and insurance companies are expected to offer e-KYC facility in the future.For those who already have an Aadhaar card and are comfortable with safety features of this facility, this looks like a good and convenient way to open an account. For those of us, who are still paranoid of the data safety and privacy regarding Aadhaar, there is always the regulation paper KYC option.

Opting for moratorium is different for different banks. Most of the banks are taking customer's consent for moratorium by an online form or by a missed call on given number.To opt for moratorium, you need to fulfil certain criteria which are almost same for all banks. The criteria are as following:Customers who have regularly paid their Credit Card/loan dues up to 1st March 2020 are eligible for the moratorium.Customers should not have overdue amount on his/her credit card.Customer have received the communication for moratorium.Here I am sharing the communication received by me by major credit card providers and how to avail it.HDFC bank - No need to do anything, if you have received the communication then you can simply stop paying your credit card dues or loan EMI for 3 months.SBI CARD- You need to provide your consent by giving missed call.Axis bank- You need to provide your consent by filling an online form.Citi bank- You need to provide your consent by phone banking.Hope it will help you in opting moratorium. However you need to pay ‘agreed’ interest rate during the moratorium period of 3 months.