What to do in case of bank account fraud? How to get money back
Banks and RBI are constantly alerting their customers. However, in case of online fraud, it is advised to report to the bank.
NEW DELHI-Online fraud in digital transactions is increasing rapidly. Fraud cases are coming to light in most of the banking operations. Especially in the era of Corona, hackers steal money from people’s accounts by taking their confidential information.
Banks and RBI are constantly warning their customers about this. Customers are advised to avoid sharing any information or OTP. In case of any kind of online fraud it is advised to report to the bank. This way your losses are reduced.
A question arises in the minds of most people that if such a transaction has taken place, how will the money be recovered? Also, if there is a complaint of withdrawal from the bank account, from where the bank will return the money.
It is to be noted that insurance policies are taken by banks against such cyber fraud. The bank directly tells the insurance company all the information about your fraud. The bank compensates you with the insurance money. Insurance companies are also providing direct coverage to people to avoid cyber fraud.
If someone is being cheated, you have to complain to the bank within three days. That way you don’t have to suffer. According to RBI, on informing the bank in due time, the amount fraudulently withdrawn from the customer’s account will reach his bank account within 10 days. According to RBI, if the bank account fraud is reported even after 4-7 days, the customer himself will have to bear a loss of up to Rs 25 thousand.
If the bank account is a basic savings banking deposit account i.e. zero balance account, then your account liability will be Rs 5 thousand. If there is an unauthorized transaction of Rs 10 thousand from your bank account, you will get back Rs 5 thousand from the bank. At the same time, you will have to bear a loss of five thousand rupees.
If any unauthorized transaction is made from your savings account, your liability will be Rs 10000. That is, if there are unauthorized transactions of Rs 20,000 from your account, you can get back Rs 10,000 from the bank. At the same time, you have to bear a loss of 10 thousand rupees.
If unauthorized transaction takes place from the customer’s current account or credit i.e. credit card limit exceeding one lakh rupees, your liability in such cases will be 25 thousand. On the other hand, if there is an unauthorized transaction of 50 thousand rupees from the account, the bank will give you only 25 thousand rupees. The remaining Rs 25,000 loss will have to be borne by himself.