If the fraud happens due to negligence from the bank's end, the customer obviously is not liable. Now let us take a look at what the customer has to do: Further, banks have been told to not to offer the facility of electronic transactions, other than ATM cash withdrawals, to customers who do not provide mobile numbers.īanks also have to inform customers that they should notify the bank as soon as possible of any unauthorised electronic transaction and that the longer they take to notify the bank, the higher will be price they have to pay.
The good news is that the onus is on the banks to prove that a fraud has taken place, but customers should inform the bank as soon as possible to avoid being penalised.Īccording to the notification, "the systems and procedures in banks must be designed to make customers feel safe about carrying out electronic banking transactions." Banks must ask their customers to mandatorily register for SMS alerts and wherever available register for e-mail alerts. On July 6, 2017, the RBI issued a notification, Customer protection - limited liability of customers in unauthorised electronic banking transactions.
#Gobank moneyvault transaction declined generator#
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