Customer are advised to safeguard their cards / card account information and security credentials like PIN, OTP & Static Passcode at all the times. Under no circumstances, these details should be shared with any other person, including bank and its officials. Customer should always use merchant sites with required security protocols and not enter / access their card credentials at suspicious website, IVR or mobile apps. Customers are encouraged to read the security advisory notification sent by bank from time-to-time and as hosted on bank’s site. It is the liability of the customer to report any unauthorized transaction within 7 days, ensuring that there is no delay in reporting / intimating to bank.
The customers are requested to mandatorily register for SMS and e-mail alerts. Customers must notify the bank of any unauthorized transaction at the earliest and immediately on being aware of the subject transaction. It is pertinent to note that the longer the time in reporting an unauthorized transaction, the higher is the risk of loss.
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Please read through all the FAQs to have a fair understanding of your rights / liabilities.
What are Secured Transaction?
Transactions which are carried out with credentials like card number, card verification value (CVV), expiry date, PIN, OTP (one-time password) are termed as 'Secure Transaction'. This information is transmitted to the bank systems either from an e-commerce platform (where these are treated as manually entered by the customer) or POS / ATM where these are electronically read from the CHIP / Magnetic stripe on your card and transmitted along with other credential for authorizing the transaction.
What is Contactless Transaction?
Contactless Transaction is also a secured method for customers to avail products or services by using a credit or debit card through Radio Frequency Identification (RFID) technology or near-field communication (NFC). The allowable amount for a contactless transaction is determined by the regulator and is currently INR 2,000 in India & HSBC Bank has set a limit of INR 5,000 for International usage per transaction. Any transaction beyond the above mentioned value will require PIN.
What is Dispute Process?
The customers are advised to reach out to the bank / contact centre / branch to raise a dispute or to intimate of fraudulent transaction at the earliest and immediately on being aware of the subject transaction. Bank may require Customer Dispute Form (CDF) and additional documentary evidences and copy of the card as may be warranted to raise the dispute.
What is a CDF? Why do we need a CDF?
As per card association guidelines, in case of a dispute the cardholder should provide a duly filled dispute form mentioning the details of the disputed transaction which authorizes the bank to investigate with the respective member bank / merchant.
What are the possible categories that a dispute may fall under?
Dispute may fall under the following categories:
⦁ Unauthorized / Fraudulent transaction
⦁ Transaction failed but debited
⦁ Paid by alternate means
⦁ Duplicate billing on the card for the same transaction at the merchant outlet for the same value
⦁ Goods not delivered by merchant/services not rendered
⦁ Non-receipt of refund after the turnaround time committed by the merchant
⦁ Credit not processed by the merchant
⦁ Cash not dispensed from the ATM
The CDF provides the categories for which additional documents may be required.
What is the bank policy on limited liability of customrs?
Transactions which are not carried out with second factor authentication like PIN / OTP & Static Passcode will only be considered under the limited liability Policy and provisional credit will be provided depending on the nature of transaction & facts of the case. Customer are advised to report misused / fraud within 7 calendar days to be considered under this policy.
Where can I send the completed CDF?
What happens after I report a dispute?
If the dispute is valid, a Provisional Credit for the disputed amount will be provided. This is subject to the dispute category and type of card (Credit / Debit)
If there is no provisional credit provided for the disputed credit card transaction, you will need to make the payment within the due date as per the card statement.
Provisional credit will be provided within 10 working days of intimation for cases reported to the bank on time and is a valid dispute as per the scheme guidelines.
When can I expect my dispute to be resolved?
The time taken for an unauthorized transaction dispute to be resolved is as per the guidelines of VISA & MasterCard and is up to 90 days from the date of dispute.
Will I receive an acknowledge of interim update on the status of the dispute?
An acknowledgement will be sent once the dispute is successfully boarded. Also updates on the status of the dispute will be sent at pre-set intervals.
If my card is lost and misued before reporting the same to the bank, what should I do?
a) Credit card(s):
|Misused Before Blocking (MBB)||Yes|
|Secure / Unsecured transaction
|No scheme (Visa / MasterCard) approved dispute rights – Contactless||Yes|
|Dispute rejects by the scheme (Visa / MasterCard)||As applicable (subject: the transaction is unauthorized by the customer)|
|Items||Misused Before Blocking (MBB)|
Secure / Unsecured transaction
|Items||No scheme (Visa / MasterCard) approved dispute rights – Contactless|
|Items||Dispute rejects by the scheme (Visa / MasterCard)|
|Insurance||As applicable (subject: the transaction is unauthorized by the customer)|
However, as a benefit on the card, all the cardholders are covered under the lost /, stolen card liability & fraud protection under this provision you can raise a claim directly with our insurance partner, ICICI Lombard at email@example.com for the disputed amount within 30 days from the card block date. All insurance benefits listed above are provided directly to credit cardholders by ICICI Lombard General Insurance Company Limited, for which the Bank is not liable. Claims for settlement to be sent directly to ICICI Lombard General Insurance Company Limited. All insurance benefits on the credit / debit card are available for valid cardholders only.
b) Debit card(s):
|Type of HSBC Debit Cards||Debit card insurance cover (in ₹)
|HSBC Premier Platinum Debit Card||500,000|
|HSBC Advance Platinum Debit Card||400,000|
|HSBC Debit Card||200,000|
|Type of HSBC Debit Cards||HSBC Premier Platinum Debit Card|
|Debit card insurance cover (in ₹)
|Type of HSBC Debit Cards||HSBC Advance Platinum Debit Card|
|Debit card insurance cover (in ₹)
|Type of HSBC Debit Cards||HSBC Debit Card|
|Debit card insurance cover (in ₹)
Following scenarios are covered under insurance coverage:
- Lost card liability
- Counterfeit / skimming of cards
- Online fraud protection