Limited customer liability in case of unauthorized transaction
As per revised norms laid down by Reserve Bank of India (RBI), customers will have limited liability in case of unauthorised electronic transactions resulting in debit/s from customer accounts / cards.
Zero customer liability
Customers will have no liability when the unauthorised transaction occurs in the below scenarios:
- Breach by third party where the responsibility lies neither with the bank nor with the customer and the customer notifies the bank after receiving the transaction alert from the bank on their mobile number or email id registered with the bank.
- Contributory fraud / negligence / deficiency on the part of the bank.
- When the responsibility for the unauthorised transaction lies neither with the bank nor with the customer, but lies elsewhere in the system.
Limited liability of a customer
A customer shall be liable for the loss occurring due to unauthorised transactions in the below cases:
- In cases where the loss is due to negligence by a customer, such as where he / she has shared the payment credentials, the customer will bear the entire loss until he reports the unauthorised transaction to the bank. Any loss occurring after the reporting of the unauthorised transaction shall be borne by the bank.
Click here to view Bank’s approved policy on Limited customer’s liability for unauthorised electronic banking transactions.
Reversal timeline for zero liability / limited liability of customer
On being notified by a customer, the bank shall credit the amount involved in the unauthorised electronic transaction to the customer’s account within 10 working days from the date of such notification by the customer (without waiting for settlement of insurance claim, if any).
The credit shall be value dated to be as of the date of the unauthorised transaction.
Report a fraud transaction
If you notice any unauthorised transaction in your Deutsche Bank account, report it immediately to our 24/7 phone banking team on our toll free number 18001236601 or on 18602666601#.
#Customers outside India need to dial +91 22 6601 6601. Customers in Mumbai can also call at +91 22 6601 6601. Call charges apply.