What to do if money is stolen from a bank account, know how to get the full amount back? | What To Do If Someone Stole Money From Yours Bank Account, How To Returns Know More

What to do if money is stolen from a bank account, know how to get the full amount back? | What To Do If Someone Stole Money From Yours Bank Account, How To Returns Know More

Conversely online fraud increased rapidly during the Corona period. Hackers are stealing money from the account by removing all the information from the account.

What to do if money is stolen from a bank account, know how to get the full amount back?

banking fraud

New Delhi: As the world goes digital, so does the incidence of online fraud. Most of the banking scam cases are under discussion. Conversely online fraud increased rapidly during the Corona period. Hackers are stealing money from the account by removing all the information from the account. (What To Do If Someone Stole Money From Yours Bank Account, How To Returns Know More)

Banks and RBI are constantly alerting their customers. It is advisable to avoid sharing any information or OTP. In addition, banks are advised to report any online frauds to the bank immediately. You can reduce your losses by giving prompt notice. Let’s find out now.

How to get full refund?

Now the question that comes to most people’s minds is, if such a transaction has taken place, how will the money be refunded? The insurance policy is actually offered by the bank considering this type of cyber fraud. The bank will tell the insurance company all the information about the fraud against you and will take the insurance money from there and compensate you for the loss. Insurance companies are offering direct coverage to people to prevent cyber fraud.

Fraud must be reported within 3 days

If someone accidentally withdraws money from your bank account and you report the matter to the bank within three days, you will not have to bear the loss. The RBI has also said that fraudulent withdrawals from a customer’s account will be returned to his bank account within 10 days of being notified to the bank within a specified time. If the bank account is found to be fraudulent after 4 to 7 days, the customer will have to bear a loss of up to Rs 25,000, the RBI said.

How much will you get back?

If the bank account is a basic savings banking deposit account i.e. zero balance account, your liability can be up to Rs.5000. This means that if there is an unauthorized transaction of Rs 10,000 from your bank account, you will only get back Rs 5,000 from the bank. You will have to bear the loss of the remaining Rs.

What are the rules on savings account?

If you have a savings account and unauthorized transactions have taken place in your account, your liability will be Rs. This means that if there is an unauthorized transaction of Rs 20,000 from your account, you will only get back Rs 10,000 from the bank. You will have to bear the loss of the remaining Rs.

What are the rules regarding credit cards?

If there are unauthorized transactions in your current account with a credit card limit of more than Rs 5 lakh, you will be liable for Rs 25,000. That is, if there is an unauthorized transaction of Rs 50,000 from your account, the bank will give you only Rs 25,000. You will have to bear the loss of the remaining Rs. 25,000.

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What To Do If Someone Stole Money From Yours Bank Account, How To Returns Know More

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