It sometimes happens that you paid for an online purchase with your credit card, and the product never arrived, or the product arrived but is not as expected. A credit card chargeback is a process of a customer disputing a transaction in their account against a merchant, and seeking a reversal of it. Situations for filing a chargeback There are …
Mumbai: Banks are battling a new challenge on social media: The rise of fraudsters operating fake profiles and attempting to siphon off customers’ money. According to bankers, conmen on Twitter, sporting official bank logos on their profile, seek out customers airing grievances and respond with a fake customer care number. A search on Twitter showed large private sector banks such …
To ensure the security of transactions, the Reserve Bank of India mandated a new rule for the auto-debiting facility of banking transactions that were set to take effect from October 1, Friday. To prevent any inconvenience to the customers, Reserve Bank has decided to extend the timeline for the stakeholders to migrate to the framework by six months, i.e., till …
