I have been using the CPP from Citibank for the last two years. under this, one may not only register all kind of Credit/Debbit cards but also, all the other documents such as your PAN Card, Passport, voter's ID Driving Licence & all the other documents of consiquence.
in case of loss of any of the registered documents, the CPP would help the customers apply for & procure the same. CPP also recommends that, in case of a loss of card or any other registered documents, you should call them up, even before you call up your bank!!to On 12/22/10, Kotian, H P <[email protected]> wrote: > Card protection planHai Harish: > Hello > I am copying the mail below on behalf our member. > Harish Kotian. > > > > -----Original Message----- > From: Subramani L > Sent: Tuesday, December 21, 2010 4:20 PM > To: '[email protected]' > Subject: Card Protection Plan > > Hai folks: > > Thought this info would interest many of you. > > One of the problems most debit card users face is what would happen if the > card is stolen? > > If the card happens to be the 'Visa' variety, then there is always cause for > concern. Because unlike the Master card, Visa card can be used by anyone to > purchase things without needing to present the identity verification and so > on (Master debit cards require pin number for purchases). Of course there is > regulation from the banks to check identities before accepting payments > through visa cards, but shopkeepers and sales reps cannot worry more when > someone swipes the card and pays for the purchase. > > In October, I lost my Corporation Bank (Visa) debit card and didn't realise > I had lost it for nearly two days. By that time fraudulent transactions had > taken place and I lost nearly Rs. 8,000. Obviously, the card is our > responsibility and the bank is in no way obligated to return the money to > me. Though this happens to everyone, blind and sighted, people tend to view > such things as a consequence of being blind and being a terrible loser (this > is by far the biggest amount I had lost to fraud in my 15 years of working > life... Touch wood). No amount of running around to police stations and > numerous visits to the bank has yielded anything, except increasing my > frustration and disappointment over the way our system (especially law > enforcement) works. Nearly two months later, I get this news and thought how > come I didn't find this out two months before? > > For the past four months, I have been a customer of Kotak Mahendra Bank > (KMB), whose service I should say has been exceptional. They have assigned > me a relationship manager who activated my debit card and internet banking > without raising a finger. She calls me up regularly to find out if I would > like to sign for online payments through Visa Bill Pay facility and I had > been thinking this was good. But now I got the news that KMB is offering > what is called a Card Protection Plan (CPP), a kind of insurance against > your debit card. The beauty is, this applies for any debit card of any bank. > For paying just Rs 1,295, you are given upto Rs 1 lakh in the event of you > losing your debit card and are unable to prevent fraudulent transactions. > You can use the service to immediately block the card and ensure no further > transactions take place. In case there are further thefts after you had > blocked the card, you are entitled for Rs 20 lakhs, since the onus of > protecting the account is with the bank once you block the card. > > The annual service is automatically renewed each year unless you respond to > one of the SMS messages alerting you about the renewal and decide to > terminate it. I am not sure if this is offered to those who don't have KMB > bank account. If not, I feel you all have to take a Kotak account and see if > you can avail this service to protect yourself from loss of card and with it > considerable sum of your earnings. This is particularly good for visually > challenged persons since we are under no power to save our belongings if > someone intentionally wants to steal. Pl enquire about this at Kotak > Mahendra Bank and verify if the service is available to one and all and if > so, avail it. Also, pass this on to other VI friends and let them be > benefited by it. > > Subramani > > > ________________________________ > Notice: This email and any files transmitted with it are confidential and > intended solely for the use of the individual or entity to whom they are > addressed. If you are not the intended recipient, any dissemination, use, > review, distribution, printing or copying of the information contained in > this e-mail message and/or attachments to it are strictly prohibited. If you > have received this email by error, please notify us by return e-mail or > telephone and immediately and permanently delete the message and any > attachments. The recipient should check this email and any attachments for > the presence of viruses. The Reserve Bank of India accepts no liability for > any damage caused by any virus transmitted by this email. > To unsubscribe send a message to [email protected] with > the subject unsubscribe. > > To change your subscription to digest mode or make any other changes, please > visit the list home page at > http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in > To unsubscribe send a message to [email protected] with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in
