RBI’s new rules on debit card, credit card, read carefully, otherwise it can be fraud!

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This ATM fraud must also have happened to many of you. If you were in your country, then in some other part of the world, someone has withdrawn money or shopped with your debit card or credit card.

This ATM fraud must also have happened to many of you. If you were in your country, then in some other part of the world, someone has withdrawn money or shopped with your debit card or credit card. In fact, many banks offer international transactions facilities to their cardholders on debit cards or credit cards, which are sometimes not even asked by the customer. Cyber ​​fraudsters clone such cards and blow money from ATMs.

The Reserve Bank had issued guidelines a few months ago to curb such ATM card fraud, which was to come into force from March 16, but could not be implemented due to the Corona crisis. Therefore, if you also have a debit card or credit card, which has the facility of international transaction, then you should read these guidelines carefully. Now let us tell you what are the guidelines of RBI?

What are the new RBI rules related to ATM cards?

1. RBI asked banks to keep it limited to domestic transactions while issuing debit cards or credit cards. There should be no international transaction through ATM or PoS machine through the card. If you want to do this, you have to take permission for it first.

2. If the customer wants international transactions, online transactions and contactless card transactions, then he has to enter his choice separately. It is clear that the customer will get international card services only when he wants.

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3. The customer can turn the ATM card transaction ON or OFF whenever any service can be activated or stopped.

4. Customer can decide the limit of his ATM transaction whenever he wants.

5. If there is any change in the status of the card, the cardholder should get an SMS alert immediately.

These guidelines were not implemented in March due to Corona crisis. But now it will be implemented from 30 September 2020.

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