RBI New Rules on Debit and Credit Cards To Prevent From Online Frauds

Do you have Debit or credit card and are not using for it since long-back, Your card may be “Blocked” by your Bank. To enable your Debit/Credit Card further, you have to visit your bank and gives consent on using your debit and credit cards for “online transactions”.

This was introduced by RBI to protect the interests of bank a/c holders from online frauds.

1.If you are wishing to do online transactions, you may approach your Bank and enable your cards for making online transactions seamlessly.

2.Banks have the right to de-activate your cards if you are not using it for a long time.

3.To do International transactions, you have to take “Permission” From your banks from hereon.

4.Bank customers can have the right to switch-on/off your cards at any time

5.Customers can set their transaction limit and they can’t do the transactions beyond the limit.

6.There are no restrictions on the Pre-Paid cards as of now

7.Customers can make use of “Contact-Less” Cards at POS Terminals. To enable this feature, contact your Bank.

8. You can Block/UnBlock your debit and credit cards anytime if you found something suspicious activity on your card,

These are all the measures taken by RBI to safeguard the customers hard earned money from online frauds.

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