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Fraudulent Charges Cover

Amid increasing advancements in payment methods, there’s been a steady increase in the number of mobile and internet transactions. However, this has also increased incidents of glitches in payment processing, hacking, and data breaches.

You can protect yourself from unauthorised charges made on your credit or debit cards, and get covered against any unauthorized charges made on your payment card, with Fraudulent Charges Cover from Bajaj Finserv.

Plan Details

  • High coverage limit

    Get coverage up to Rs. 80,000 for just Rs. 349 per annum.

  • Reimbursement for unauthorised charges

    Get reimbursement for unauthorized charges on your bank or credit account, using your payment card information through:

    a. In-store purchase
    b. Telephone purchase
    c. ATM withdrawals
    d. Online purchase

  • Multiple payment options

    Pay your premiums easily via multiple options, such as online account transfers, UPI, Mobile Wallets, credit or debit cards.

  • What’s Covered


    Fraudulent Charges Policy by Bajaj Finserv will cover the following:

  • Coverage in case of lost or stolen card

    Unauthorized charges that the customer is responsible for on their lost or stolen card, up to 24 hours prior to their first reporting the event to card issuer, and 7 days post reporting the event to card issuer

    If the customer’s card is still in their possession and unauthorized charges are made on their bank account, through in-store, telephone, ATM withdrawals, and/or on-line purchase(s), using their payment card information, the customer will be reimbursed for the unauthorized charges, for which they’re responsible. However, the charges must be incurred up to 24 hours prior to reporting of the event to the card issuer for the first time, and 7 days post reporting the event to card issuer.

  • Skimming, cloning and counterfeit frauds

    The liability of the insurer shall be limited up to the per occurrence and as per policy period limits stated on the policy schedule.

  • What’s Not Covered


    Here are the expenses or losses that are not covered under Fraudulent Charges Cover:

  • Cash advances

    Cash advances made with your lost or stolen payment card

  • Losses by household member

    Losses incurred due to charges made by a household member or any person entrusted with your payment.

  • Unauthorized charges made beyond specified time

    Unauthorized charges made on your payment card if your payment card has not been lost or the object of theft more than 24 hours prior to your first reporting the event to your payment card issuer(s) and 7 days post reporting of the event to your payment card issuer(s).

Terms And Conditions In Case Of Loss Or Theft

Here’s a look at the terms and conditions for coverage of Fraudulent Charges Cover by Bajaj Finserv, in case your payment card was lost:

• The insurer will only pay for unauthorized charges for which you are responsible, under the terms and conditions of your payment card.

• Report the loss or theft of your payment card to the issuer(s) within 3 hours of discovering your lost or stolen payment card event.

• Compliance with terms and conditions for issuance of your payment card is mandatory.

• The plan covers only one credit card/debit card. It does not extend coverage to multiple cards.

• The payment card should be in the name of the covered member. Any card that belongs to anyone else other than the insured member is not covered under the plan.

• The insurer will not be liable for any discrepancy in the information provided by the insured member.

Duties In The Event Of A Loss

In the event of a covered loss, you shall:

Contact us
Please contact our 24-hour Toll Free Call Center on 1800-11-9966* - 1800-266-7780 (*Toll free from MTNL/ BSNL lines only) or 1800-22-9966 (only for senior citizen policy holders). Please intimate the Call Center as soon as a claim occurs, so we can provide you with prompt and effective assistance.

File a police report
File a police report within 24 hours of discovering unauthorized charges or ATM withdrawals

Report loss or theft
To the extent your payment card was not lost or the object of theft, report the unauthorized charges, or ATM withdrawal(s), to the payment card issuer(s), bank account issuer(s) or credit account issuer(s), and to us, within 24 hours of your discovery of a loss;

Complete, sign and return the claim form to us with all the following documents, within 3 days of making the original claim:

     I. Copy of Duly filled claim form.
     II. Charge slips for fraudulent Transactions.
     III. Copy of Police Intimation.
     IV. Statement from card issuer regarding loss notification within stipulated time.
     V. Recent 3 months Card statement
     VI. Copy of Dispute letter given by Customer to Bank – Verified by bank
     VII. Copy of Incident report by bank
     VIII. Complete passport copy, if fraud happened in an international location

The claim form and accompanying documents with the exception of merchant charge slip must be returned to the insurer within 3 days of making original claim.

This is an indicative list and other documents may be required at the time of claim settlement.


     1. Post submission of all required documents and survey/investigators’ report, the claims department processes the claim within 7 working days
     2. The payment can be remitted to the insured using one of the following ways:

a. Electronic fund transfer

Following are the list of documents required for EFT settlement:

     i. Copy of cancelled cheque
     ii. EFT Mandate form.

b. System Cheque.

     • Cooperate with us in investigating, evaluating and settling a claim

Rest all terms, conditions and exclusions of the policy remains unaltered.


Terms And Conditions For Coverage In Case Payment Card Is Still In Your Possession

Here’s a look at the terms and conditions for coverage of Fraudulent Charges Cover by Bajaj Finserv, in case your payment card is still in your possession:

     • You must comply with all terms and conditions by which your payment card(s) is/are issued.
     • We will only pay for unauthorized charges for which you are responsible under the terms and conditions of your         payment card(s).
     • You must submit evidence to us that unauthorized charges were made from your bank account or credit account.

How to Apply

To apply for the Fraudulent Charges Cover, just fill in the online application form and pay the premium using your preferred online payment mode. Here is the step-by-step process to do the same.

  • Step 1:  Click on ‘Apply Now’ button at the top left-hand corner on the page and fill in the online application form

  • Step 2:  Authenticate your application by entering the OTP received on your mobile number

  • Step 3:  Pay the premium via credit/debit card, UPI, mobile wallet, or any other available online payment mode

Contact Us

For any doubts or concerns related to the plan, feel free to reach out to us by writing an email to

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