Best Zero Liability Credit Card - Zero Liability Debit Card

Fraudulent Point of Sale - Usage on Lost and Stolen Cards Indemnified : HDFC Bank
This is an amazing card from HDFC bank that they are now offering Zero Liability on fraudulent Point of Sale usage on lost and stolen cards.

The salient points of the card are as appended below:


Cardholder will receive the credit, with a hold marked for the disputed amount within 5 days of the submission of the required documents, ie,

• FIR
• Dispute letter
• Indemnity letter
• Passport copies in case of international transaction dispute
• Zero Liability is applicable only on fraudulent Point of Sale Transactions and not ATM transactions.

Terms and Conditions

• The liability per card is restricted to a maximum of Rs. 1 lakh per card.
• For Claims under Zero Liability to be accepted & processed, the cardholder should have carried out at least 1 purchase transaction using the Debit Card, within 6 months prior to the date of the disputed purchase transaction.
• The findings of the Bank's investigation will be final and binding on the customer.
• Cardholder cannot close the account till the hold funds for the said amount is released.
• In case it is an unsigned card, Zero Liability will not be applicable, the cardholder will be liable for the transaction.
• The Zero Liability offering is valid for all Point of Sale transactions carried out and reported after August 29, 2005.
• The Point of Sale transaction under dispute can be for a maximum of 30 days prior to the date of reporting of the loss of Debit Card to the Bank.
• The case would be processed subject to the receipt of all required documents within 21 days of reporting of loss by the customer.
• All neccesary documents to be provided within 21 days of reporting of loss.
• The Cardholder has not shown any delay or negligence in reporting the loss of the Card to the bank.

This appears to be a good card provided one is able to understand the technical jargon properly and sign on the dotted line after all the terms and conditions have been understood by you.

Zero Liability Credit Card, Zero Liability Debit Card