Axis Bank and HDFC Bank prepare customers for service interruptions

Axis Bank alerts customers: Axis Bank has informed its customers via email and SMS about potential service interruptions on internet and mobile banking platforms as it completes the final stages of transitioning Citibank’s consumer business in India to Axis Bank. The transition is set to be finalised by July 15, 2024, impacting various banking services.

According to a post on Axis Bank’s social media platform X, “As we are in the final stage of the transition of Citi’s consumer business in India to Axis Bank, certain banking services will be affected on the Internet Banking and Mobile Banking platforms. We urge you to plan your banking needs in advance.”

Axis Bank's website also advises, “As an existing Axis Bank customer, we strongly urge you to plan your banking requirements across both platforms well in advance. Rest assured, upon completion of the migration, you will be able to use all the services on Axis Bank platforms from 12 am (midnight), 15th July, 2024.”

Customers can use existing Axis Bank credentials to access services post-migration, while new users must register on Axis Bank’s platforms using Citibank card credentials. Post-migration, interest rates will follow Axis Bank's terms, and previous Citi interest rates will apply to billing cycles before migration. Changes in fees, such as forex markup, late payment charges, and cash advance fees, will be communicated in advance.

There will be no change in annual fees for Citi-branded cards, and if annual fees were paid before migration, no additional charges will be imposed. Axis Bank services will be unavailable between 10 pm on July 12 to 9 am on July 14 due to the Citibank migration.

HDFC Bank will conduct a major system upgrade on July 13, 2024, from 3 am to 4:30 pm to enhance performance and customer experience. During this period, several services will be affected, including UPI, ATM services, NetBanking, and Mobile Banking. UPI services will have limited availability from 3:45 am to 9:30 am and 12:45 pm onwards, while ATM services will have restricted cash withdrawal limits between 3:00 am to 3:45 am and 9:30 am to 12:45 pm.

Most NetBanking and Mobile Banking services will be unavailable from 3:00 am to 4:30 pm, but credit card transactions will not be impacted. Axis Bank customers are advised to plan their banking activities in advance to avoid disruptions during this transition period.