Sir,
The sales representative of Axis bank informed me that their Platinum card was safer as it had a chip and that a PIN number would be required for authenticating the transactions. I am familiar with this system as it was present in the UK. Axis charges Rs 1000 / year for this card.
While other banks offer free platinum cards, axis not only charges you a fee but also a tax on it which they do not tell you.
The fact of the matter is that the PIN is not a requirement and most of the retailers do not even have the machine with the card slot. So how can Axis make these claims.
I asked for a reversal of my annual fee as they provided the same service as any other free platinum card and in fact had made wrong claims about their security.
Axis refused to make the reversal. I very poor service by the bank.
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