SBI warns ATM card users of fraud
State Bank of India the country's largest nationalised bank, has sent e-mails to its customers warning about ATM-related skimming frauds. Since the past many months the ATM skimming fraud has been on a rise. The SBI not only warns the users against this fraud but also tells them how to report it and other methods to report about it.
Last year, the bank also reduced the ATM cash withdrawal limit to Rs 20,000 per day. Here is everything you need to know about ATM card skimming, how to report such frauds and more
This ATM fraud led SBI to reduce withdrawal limit
SBI reduced the ATM cash withdrawal limit to Rs 20,000 per day, from Rs 40,000 effective October 31, 2018. This fraud is one of the key reasons behind the move.
This year RBI launched new chip-based cards. To ensure double safety.
These days, skimming is the most common ATM fraud. The ATMs or POS machines can be rigged and the personal information can be stolen.
ATM skimming is simply stealing the banking details from the users' ATM card.
Criminals install small devices called skimmers into the card slot of ATM machines or POS terminals.
These skimmers capture the information stored on the magnetic strip of an ATM card.
A camera mounted somewhere above the keypad captures the ATM pin as the user enters it in an ATM or at a shop.
Later they use these details to clone cards to withdraw machines from other ATMs or do online shopping.
Sometimes, criminals also place a thin film on the ATM keypad or POS machines to capture keystrokes.
In case of fraud, you can also claim a refund if you report the matter within 3 working days.
You can also report by sending an SMS by typing “Problem” and sending to 9212500888.
You can also call the customer care or report on Twitter @SBICard_Connect
If the fraud is due to some fault of SBI’s then the customer will get full compensation even if the fraud is not reported.
A customer will not get a refund if the loss is due to his/her negligence.