As innovations in payment methodologies continue to rise, there has also 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 cover yourself against any unauthorized charges made on your payment card, with the Fraudulent Charges Cover from Bajaj Finserv.
Get coverage up to Rs.75,000 for just Rs. 299 per annum
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
Pay your premiums easily via multiple options, such as online account transfers, UPI, Mobile Wallets, Credit or Debit.
Fraudulent Charges Policy by Bajaj Finserv will cover the following:
Unauthorized charges that the customer is responsible for on their lost or stolen card, up to 7 days prior to their first reporting the event to card issuer, and 7 Days post reporting the event to card issuer
We also agree that if the customers 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, we will reimburse the customer for the unauthorized charges, for which they are responsible. However, the charges need to have incurred up to 7 days prior to your first reporting of the event to the card issuer and 7 Days post reporting the event to card issuer.
Our liability shall be limited up to the per occurrence and per policy period limits stated on the policy schedule.
Here’s a lowdown on expenses or losses that are not covered under Fraudulent Charges Cover:
Cash advances made with your lost or stolen payment card
Losses incurred due to charges made by a household member or any person entrusted with your payment.
Unauthorized charges made on your payment card if your payment card has not been lost or the object of theft more than 7 days 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)
For the full list of exclusions, please download the policy brochure here.
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:
Applying for a Fraudulent Charges Cover is easy. All you have to do is log on to our website, fill out the online application form, make the premium payment, and you’re done!
You can lodge a claim by contacting us through one of the following ways:
• E-mail – firstname.lastname@example.org
• Toll free number - 1800119966