New rules for credit and debit card transactions from October 1st in India

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New rules for credit & debit card

More on your debit and credit cards from October 1st Secured. Banking frauds and card misuse The Reserve Bank has recently taken a number of preventive measures presented by from now on, all new debt issued by banks, Point of sale at credit cards, and ATMs (POS) The terminals can also be used for domestic transactions only. In any kind of digital payment in India or abroad of all debit and credit cards that have never been used reserve to disable online payment services: POS: All banks and other card issuers were asked. customer to use the card for online transactions If desired, the cardholder should contact the bank.

Important things

All new debit and credit, including redistribution Point-of-sale (POS) at cards and ATMs Only terminals, can be used for domestic transactions.“At the time of issue / re-issue‌, all cards (Physical, Virtual) Only in contact-based use areas in India The Reserve Bank said it would be able to use it. Cardholders online on their debit and credit card transactions, International Transactions, Contact-Free Transactions to enable any other facilities including ‌ need to approach their bank‌. This without going to the bank services is no longer available. Customers use the card outside India If interested, they can enable international transactions to ask the bank. until now, most banks by default it can be used anywhere in the world issuing cards.

Deactivate existing cards

Deactivate existing cards and if required Banks also have the right to redistribute. Any person before ‌ Online transaction‌, International transactions, Their card for contactless transactions bank ‌have to disable these options if not used here will be an option. Users can also switch their cards on and off to turn off or ATM transaction, debit, or credit any such online transactions available on the card there are special facilities‌. Limit their transactions to cardholders, The Reserve Bank of India (RBI) said in a statement that it would make the decision. 240 mobile applications and limit modification Net to enable and disable services And to regulator banks to provide banking options requested. This is for bank branches and ATMs there will be options.

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