MONEY MATTERS

First of all you must be very careful while handling your card. Guard your card as carefully as you would a large amount of cash. Inform the bank the moment you find your card missing. It obviously makes sense to choose a bank that has a 24- hour call centre and that will deactivate the card as soon as you report its loss. Also, photo cards are slightly more secure. It is also a good idea to pick a card from a bank that limits your liability. cash advances can be made with the cards.
If, despite precautions, a fraud is committed with your card, do not give in tamely to the bank’s demands. Do not pay anything, remind the bank that merchants are expected to check signatures, and ask them to prove that you have made the purchase. Deal with the bank only in writing and write to newspapers and magazines about it. No bank wants bad publicity. Sometimes the bank may ask you to pay a portion of the amount, don’t fall for it.
If it was clear case of fraud, and the card holder dug his heels in and disputed the charge, the bank would ultimately be sympathetic. But do not accept to pay even a portion of the amount.

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