2. When loan cheques are missed in transit and the bank charges interest
No one likes to pay a late payment fee or interest, especially when it is due to processing or logistic delay and not their fault. If you have applied for a loan against your card, banks usually send a cheque or demand draft for the applied amount. Sometimes the cheque or the draft may not reach you on time due to logistic delays and the bank may start charging you an interest.
If you are facing a similar grievance, you can ask the bank for a reversal of the charges. It is the responsibility of the bank to ensure that the cheque or drafts in transit reach you safely.
The first step is informing the bank’s customer care helpline and raising a customer grievance ticket. Make sure to save the grievance acknowledgement number with you for future communication. You can keep a copy of the courier receipt as the proof for delivery date of the cheque or demand draft.
The next step is to send a written communication to the bank along with a copy of the proof and your online grievance number. Banks usually recheck the delivery date with the courier company and reverse any excess charges in the next bill.
If the bank does not take any action, you can approach the banking ombudsman for a speedy resolution.
3. If your card is skimmed
Mohit noticed some unauthorized transaction on his card when he received his monthly bill statement. He was charged for Rs.20,000 against a purchase that he had not made. He had not even used his card online.
He checked his other transactions and noticed that a day before the incident, he had used his card at a restaurant, and he remembered handing the card to the waiter.
To his surprise, he came to know that his friend too had a similar experience from the same restaurant. Mohit informed the bank about this and also filed an FIR. The bank reversed his amount and blacklisted the merchant, thereby saving other card users from potentially being skimmed as well.
If you feel your credit card has been skimmed, inform your bank immediately. You can also file a complaint about the particular merchant or vendor who you think may have compromised the security of your card.
Timely information of matters will help not just you, but many other card holders from possible financial fraud and card skimming.