God forbid, if you have identified suspicious transactions on your credit card, then you need to take the following immediate steps.
Step 1: Contact the Call Centre and get your Credit Card Blocked immediately
Step 2: Make a List of all the Transactions you have not done with the Amounts and the Description which appears on your Statement. Ask the executive if it was an Internet transaction (Card Not Present) or a Physical Swipe (Card Present)
If it was a physical swipe which means someone has got hold of your physical card, then assume your money is not coming back. You need to follow the next steps in addition you need to start praying to GOD.
Step 3: Ask the Call Centre Executive where in the website is the “Transaction Dispute Form” displayed. Download this for, fill with the necessary details pertaining to fraudulent transactions and amounts and send to the Banks PO Box. Also scan and mail to the Banks Customer Service ID. It is better to write a covering letter to the bank asking for a charge-slip retrieval if these are physical card swipes. Try to find some contact somebody in the bank who can help you fast track the investigation.
Ask the Call Centre when you can contact them next for an update and keep the details of your calls / mails.
Step 4: If the Transaction was an Internet Transactions which was done without the Card being physically swiped request for a Temprory Credit (which is given for a period of 45 days) and initiate a Chargeback process. This is a process where the Bank does an investigation with the vendor and reverts back to you with a decision within 45 days. For disputes on Internet Transactions there is a good chance of being ruled in the customers favour. Keep following up with the bank regularly. For physical swipes where the Card has been stolen, the customer is at the mercy of the fraud investigations done by the Bank.
Step 5: If you have received a Temprory Credit, you do not need to make a payment for those transactions. Else please make your minimum payment due to avoid being reported to CIBIL
Step 6: In case of p0hysical swipes, you will need to accept whatever the bank rules, in the case of Internet Transactions, you can write to the Nodal Officer of the Bank or the Banking Ombudsman and escalate the complaint further if you get a satisfactory resolution. There are certain Internet Chargeback Norms defined by VISA / Mastercard Norms, you can contact me on Ask.Pranav@Gmail.com and I can help you basis how the case is progressing.
Step 1: Contact the Call Centre and get your Credit Card Blocked immediately
Step 2: Make a List of all the Transactions you have not done with the Amounts and the Description which appears on your Statement. Ask the executive if it was an Internet transaction (Card Not Present) or a Physical Swipe (Card Present)
If it was a physical swipe which means someone has got hold of your physical card, then assume your money is not coming back. You need to follow the next steps in addition you need to start praying to GOD.
Step 3: Ask the Call Centre Executive where in the website is the “Transaction Dispute Form” displayed. Download this for, fill with the necessary details pertaining to fraudulent transactions and amounts and send to the Banks PO Box. Also scan and mail to the Banks Customer Service ID. It is better to write a covering letter to the bank asking for a charge-slip retrieval if these are physical card swipes. Try to find some contact somebody in the bank who can help you fast track the investigation.
Ask the Call Centre when you can contact them next for an update and keep the details of your calls / mails.
Step 4: If the Transaction was an Internet Transactions which was done without the Card being physically swiped request for a Temprory Credit (which is given for a period of 45 days) and initiate a Chargeback process. This is a process where the Bank does an investigation with the vendor and reverts back to you with a decision within 45 days. For disputes on Internet Transactions there is a good chance of being ruled in the customers favour. Keep following up with the bank regularly. For physical swipes where the Card has been stolen, the customer is at the mercy of the fraud investigations done by the Bank.
Step 5: If you have received a Temprory Credit, you do not need to make a payment for those transactions. Else please make your minimum payment due to avoid being reported to CIBIL
Step 6: In case of p0hysical swipes, you will need to accept whatever the bank rules, in the case of Internet Transactions, you can write to the Nodal Officer of the Bank or the Banking Ombudsman and escalate the complaint further if you get a satisfactory resolution. There are certain Internet Chargeback Norms defined by VISA / Mastercard Norms, you can contact me on Ask.Pranav@Gmail.com and I can help you basis how the case is progressing.
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