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RBI allows cardholders to enable, disable cards: Everything you need to know

Thursday, January 16, 2020, 5:19 PM

RBI allows cardholders to enable, disable cards: Everything you need to know

RBI allows cardholders to enable, disable cards: Everything you need to know Today, the number of ...

Brand Updates

 
Banks stop issuing debit card to these accounts to reduce frauds, cost

Monday, December 23, 2019, 6:26 PM

Banks stop issuing debit card to these accounts to reduce frauds, cost

If you have not done any transaction in your savings account for a long time and it has become dormant then your debit card may not get renewed on its own as banks have stopped issuing debit cards for dormant accounts suo motu. Banks are doing this to save cost and reduce frauds, said a report in the Times of India. “For a bank, it is not prudent to keep servicing dormant accounts. One, the risk of fraud like money laundering increases. And second, there is the cost of maintaining such an account. So, banks have stopped issuing cards suo motu unless approached by the customer,” the publication quoted Bharat Panchal, CRO, FIS Global, a financial services provider, as saying.

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What do 16 digits on the debit card mean?

Friday, December 20, 2019, 5:44 PM

What do 16 digits on the debit card mean?

What do 16 digits on the debit card mean?  A debit card which is also known as ATM card is issued by banks when you open an account with them ...

Scam Alerts

 
Over 70 Customers of UBI’s Juhu Branch Lose Rs 20 Lakh in Six Hours

Friday, December 13, 2019, 10:43 AM

Over 70 Customers of UBI’s Juhu Branch Lose Rs 20 Lakh in Six Hours

In another incident of bank fraud, several customers of Union Bank of India (UBI) in Mumbai found out that their debits cards were cloned and transactions to the tune of almost Rs 20 lakhs were made by fraudsters. According to a report by TOI, more than 70 customers of UBI’s Juhu Tara Road branch claimed that fraudsters had siphoned nearly Rs 20 lakh in less than six hours from their bank accounts. The report states that the withdrawals were done from ATMs of different banks between December 8 midnight and 6.30 am on December 9. As soon as the incident was reported, police were alerted following which the bank has been asked to provide the details of the cash withdrawal to track the ATMs and get CCTV footage.

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Things to do after losing Debit or Credit Card

Tuesday, November 19, 2019, 4:42 PM

Things to do after losing Debit or Credit Card

Things to do after losing Debit or Credit Card Many people lose debit and credit cards and soon fall victim to fraud. Fraudsters can swipe heavily ...

Brand Updates

 
Visa to enable OTP-less e-shopping

Friday, October 25, 2019, 10:43 AM

Visa to enable OTP-less e-shopping

Visa cardholders will soon be able to complete payments on select e-commerce sites without having to wait for a one-time password (OTP). The payments company will activate ‘Visa Safe Click’ (VSC) across leading online merchants for transactions below Rs 2,000 in value. VSC is a lightweight, secure software plug-in for mobile app-based e-commerce merchants. For transactions up to Rs 2,000, shoppers don’t need an OTP as the solution uses cryptographic validation along with Visa’s global risk engine to authenticate each transaction. The RBI had relaxed norms for transactions below Rs 2,000 in 2016, allowing the payment networks to do the second factor authentication without using OTP. VSC is designed as a frictionless payment solution for e-commerce, which is built exclusively for the Indian market.

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Debit Card Frauds: How to block SBI ATM card online and offline?

Friday, October 18, 2019, 8:57 AM

Debit Card Frauds: How to block SBI ATM card online and offline?

Debit Card Frauds: How to block SBI ATM card online and offline? Card frauds are on the rise and ...

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Do you use your debit and credit card for online shopping? Beware of frauds

Wednesday, October 9, 2019, 5:44 PM

Do you use your debit and credit card for online shopping? Beware of frauds

Do you use your debit and credit card for online shopping? Beware of frauds It’s the festiv ...

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How to avoid debit card frauds in India?

Thursday, September 12, 2019, 7:23 PM

How to avoid debit card frauds in India?

When you open a bank account, you will be given a debit card.  Debit cards are really helpful and can be used for various purposes. With the help ...

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Why credit cards are safer than debit cards?

Monday, September 9, 2019, 3:04 PM

Why credit cards are safer than debit cards?

Why credit cards are safer than debit cards? The number of people using debit cards in India is on the rise. If you have a bank account you will be ...

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