2023-09-18 19:18

Robbery, phishing, engineering: what insurance for a card can and cannot protect against

The Central Bank has put an end to the discussion about the minimum requirements for voluntary insurance of funds on bank cards.

According to the Central Bank directive, the minimum limit of the insured amount that is fully compensated will be 100,000 rubles, with a maximum refund time to the customer of no more than 30 days. Cases in which the bank is required by law to return lost funds must be excluded from the insurance coverage.

Such cases may include problems with the bank's equipment, mobile or internet banking, or operator errors during the transaction process, says junior lawyer UPPERCASE LEGAL Tamrin Darbakov.

"For example, if the ATM breaks down during cash withdrawal or the POS terminal fails to process the payment, if the operator makes a mistake when entering the payment amount or inputs the wrong card number, if there are problems with accessing the internet banking system and the transaction is not completed - in such cases, the client has the right to demand a refund," he lists.

In the event that the client does not want to pay for insurance, the bank may refuse to compensate for unauthorized debits related to specific risks that are not covered by it, argues Tamrin Darbakov.

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