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Safe Banking

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Don't let your Banking Details Fall in to the Wrong Hands

Consider these scenarios: An SMS on your account balance is sent to someone else's mobile number. An email with your credit – card statement lands in a colleague's inbox.

If you do not update your Bank's records with your current contact details, you may miss benefits like these:

  • Timely sms and e-mail alerts on every transaction made on your accounts.
  • The ability to track your banking and credit – card transactions 24x7.
  • Timely receipt of your credit card/bank – account statements so that you can keep a track of your transactions.
  • Receipt of cheque books, statements, debit/credit cards at the right address.
  • Notices of due dates of payment of your credit-card bills.
  • Notices of promotional offers and discounts for purchases with your debit/credit card.

your bank will never send you and e-mail asking you to enter your online banking details

Your Dormant Account Can be a Target For Fraud

Savings and current accounts are classified as dormant when there are no customer – originated transactions in them for more than two years. Bank – induced credits of interest and debits of service charges are not considered as customer originated transactions in this context.

A dormant account is vulnerable to fraud.

  • Dormant accounts are easy targets of money-transfer agents or for phishing scams.
  • Such accounts are prone to be used for illegal transactions, laundering money or funding terrorism, any of which could land a bonafide customer in serious trouble.
  • If you move your house and do not update your bank with your new address, account statements and other sensitive documents could land in the wrong hands. Fraudsters could use them for theft of identity or to siphon off funds.

Keep track of all your bank accounts. Ensure that your bank's records are updated with your current contact details.

Keep track of all your bank accounts.
Ensure that your bank's records are updated with your current contact details

Disclaimer :

The information on this webpage is not tax, legal or investment advice, and no member of ICICI Bank Group has given you any advice.
Nothing in this document is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, or a solicitation of any type.