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SBI Cardholders Alert! Here’s how to deal with them

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SBI Cardholders Alert! Here's how to deal with them

Credit card, debit card, ATM cards and banking frauds are on high rise at this time. In order to protect its users from all these type of  frauds, India’s largest public sector bank i.e. State Bank of India has issued some guidelines to safeguard its users and customers from getting trapped into these crimes. SBI warned the users to stay alert if they hear or get in touch with such skimming frauds. When the mail box of SBI was hit by its customers, the lender warned cardholders of skimming frauds going in all corners of the country.

Card skimming is the act of copying the data of a credit, debit or ATM card illegally for misusing it. While magstripe ATM-cum-debit cards are now being replaced with the EMV chip cards, even after this it was possible for card skimming frauds to happen.

Here are some guidelines which will help in avoiding card frauds:

  • Do not give your SBI Card to anyone not even to company representatives or friends.
  • Cover the keypad when you are entering your PIN at a public place or ATM.
  • Make sure that your debit card is used or swiped in your presence.
  • Remember to collect the debit or credit card after each transaction to avoid theft.
  • Do not disclose your PIN to anyone even if they represent themselves to be SBI representative.
  • Do not share your PIN, OTP, CVV and net banking user ID and password with anyone. 

However, if a loss occurs due to your negligence, such as where the customer has shared the payment credentials like credit card details, PIN, CVV, OTP or due to improper protection on customer devices like mobile, laptop, desktop leading to malware, Trojan or Phishing etc., the customer will be held for liable and will not be entitled to any compensation.

Mrinalini Mahajan is a Journalism Student at Asian Academy of Film & Television. Her Expertise is Lifestyle and Entertainment. Mrinalini is fond of Watching movies and Other Cinema Stuff. She is also a great Cinema Critic and Movie Reviewer

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