Banks and RBI also constantly keep alerting their customers. It is advised to avoid sharing any kind of information or OTP. Along with this, banks advise to inform the bank immediately if there is any kind of online fraud. You can reduce your losses by giving prompt notice. Let’s learn about it…
How to get full money back?
Now the question arises in the mind of most of the people that if such a transaction has happened then how will the money be refunded? Also, if you complain about withdrawal of money from the bank account, then from where will the bank return the money. Actually, insurance policy is taken by banks in view of such cyber fraud. The bank will tell all the information about the fraud that happened to you directly to the insurance company and from there will compensate your loss by taking the insurance money. Insurance companies are also giving direct coverage to the people to avoid cyber fraud.
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Complaint within 3 days of fraud
If someone wrongly withdraws money from your bank account and you complain about this matter to the bank within three days, then you will not have to bear this loss. RBI has also said that the fraudulently withdrawn amount from the customer’s account will be returned to his bank account within 10 days on informing the bank within the stipulated time. RBI has also said that if the bank account fraud is reported after 4-7 days, then the customer will have to bear the loss of up to Rs 25,000.
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how much money will you get back
If the bank account is a basic savings banking deposit account ie zero balance account, then your liability will be Rs 5000. That is, if there has been an unauthorized transaction of Rs 10,000 from your bank account, then you will get back only Rs 5000 from the bank. You will have to bear the loss of the remaining 5000 rupees.
What are the rules on savings account
If you have a savings account and there have been unauthorized transactions from your account, then your liability will be Rs 10000. That is, if there has been an unauthorized transaction of Rs 20,000 from your account, then you will get back only Rs 10,000 from the bank. You will have to bear the loss of the remaining Rs 10,000.
What are the rules regarding credit cards
If there is an unauthorized transaction in your current account or credit card with a limit of more than Rs 5 lakh, then in such cases your liability will be Rs 25,000. That is, if there has been an unauthorized transaction of Rs 50,000 from your account, then the bank will give you only Rs 25,000. You will have to bear the loss of the remaining Rs 25,000.