Insurance Features with Bandhan Bank Mastercard Debit Card

Debit Card Variant: Mastercard Elite Platinum Debit Card

Personal Accident Insurance Cover (only in case of demise) : Rs.10 lakh

International Air Accidental Insurance : Rs.1 crore

Purchase Protection Insurance Cover : Rs.2 lakh

Lost card Liability (including counterfeit/skimming/online fraud) : Rs.5 lakh

General Conditions:

Gross Negligence is not covered
Any claim due to deliberate breach of law would not be payable
The cover is applicable only to active cards. "Active cards defined as any card used at least once within 180 days / 6 months from the date of incident"

TERMS AND CONDITIONS:

Lost Card Liability :

Reporting Period - 3 days pre-reporting and 7 days post-reporting Cover.
All fraudulent utilisation of lost or stolen covered debit cards including at point-of-sale and merchant establishments transactions are covered.
ATM frauds defined as fraudulent cash withdrawal and fraudulent transactions from stolen/lost cards.
ATM related transactions covered provided that it is not done by the cardholder/authorised person.
Any PIN based transactions (like ATM, Internet and telephone, etc.) are covered provided the PIN is acquired under duress by unauthorised person.
All losses arising from break of 2nd-level authorisations are not covered.
Internet Banking frauds is defined as fraudulent transactions being made on the internet by use of lost/stolen cards.
Pre-delivery fraud not covered.
Coverage of cards forgotten by the customer in the ATM will be covered provided the card is used by unauthorised person using card no. & CVV. Claim will be paid only if video-recording is received from the Bank.
FIR/Policy daily diary is to be mandatorily submitted in case of lost card.
The insured must cancel the card as soon as practicable, but in any event not more than 2 days after the date of loss.
Claim, if any, should be reported to ICICI Lombard by the Bank within 30 days from the date of loss.
Coverage: Worldwide

Skimming :

Skimming - Any fraudulent use of a bank card(s) where property, labour or services are sold and delivered by a merchant to an individual purporting to be the cardholder using telephone, fax machines, postal services or a computer-based system or network.
Losses arising out of duplicate or counterfeit cards as issued by the Bank created without the cardholder’s knowledge.
The Insured must cancel the card as soon as practicable, but in any event not more than 2 days, after receipt of notification of the unauthorised access or theft.
Reporting Period - 3 days pre-reporting and 1 day post-reporting Cover.
Counterfeit Card shall mean a card which has been embossed or printed so as to pass off as a card issued by the Bank which is subsequently altered or modified or tampered with without consent of the Bank.
Claim, if any, should be reported to ICICI Lombard by the Bank within one month from the date of loss.

Online Fraud Protection :

Phishing/account takeover - Any fraudulent loss or damage arising due to information obtained by unauthorised access to sensitive information such as usernames, passwords and any card details by masquerading as a trustworthy entity in an electronic communication which is not owned, operated or contracted by the Insured or the Insured’s Bank card processor.
The policy covers all online fraudulent utilisation of debit cards using the authorised CVV code (Card Verification Value code) issued to the cardholder by the Bank.
Covers liability arising out of any loss or damage of card transactions using the authorised PIN issued to the cardholder by the Bank.
Reporting Period - 3 days pre-reporting and 1-day post-reporting Cover.
There would be no payment for any claim directly or indirectly arising from, or occasioned by, or due to:
- Loss incurred by the cardholder because of misuse of Debit card at any site not having authorised Verisign Security status or any other equivalent security status at any point in time for the entire period of the insurance
- Any failed/duplicate/declined transactions by host website/authorised bank
- Any errors made by the host website/authorised bank.
Internet Banking frauds is defined as fraudulent transactions being made on the internet by use of lost/stolen cards.

Purchase Protection:

Cover against standard fire and allied perils and burglary in residential premises of the cardholder as per the records of the Bank only;
Cover valid for purchases on Bandhan Bank Debit cards only;
Cover is valid for 90 days from the date of purchase.

Personal Accident (Death Only):

In the event of insured having multiple cards, the personal accident claim would be payable on one card only.
The cover is applicable only to active cards. “Active cards defined as any card used at least once within 6 months from the date of incident."
Policy coverage is including accidental death due to rail/road/air accident
In the event of accidental death arising out of Aircraft, schedule Airlines etc. as defined under the policy the claim would be payable only if the ticket is purchased from the covered debit card.
Pilots, armed forces, police, air crew are not covered in case of air accident.
Period of intimation of the incidence to the insurer is 90 days.
Coverage: Worldwide

CLAIM PROCEDURE:

A. Lost card liability, Skimming, Online fraud protection & Purchase protection:

Upon the happening of any such event, the incident must be reported to respective Branch Head within 20 days from the date of incident, stating following details

Card No
Card variant
Cardholder Name
Date of incident
Card blockage date & time
Loss amount
Brief fact of the incident

Following documents are required to proceed further in the claim and claim supporting documents must be submitted to Branch by claimant within 60 days from the date of intimation.

Claim form duly filled in and signed by the claimant: Original
Latest Account statement (for the month of loss)
Complete Passport copy, if loss is at any international location
Incident report by the Bank
Copy of dispute letter given by customer to the Bank
AML Documents; If claim amount more than Rs.1 lakh claimed on an individual's account (Two passport size photograph, ID and residence proof of the claimant, as per the list provided in last section of the claim form)
Cancelled Cheque of the claimant OR NEFT Mandate form duly filled and verified by the bank
Proof of remittance that the Bank has made good the loss
Investigation report
Certified copy of FIR
Additional documents may be requested based on its merit

B. Personal Accident (death)

All the claims where incident has happened will be intimated respective Branch Head within 30 days from the date of incident stating following details:

Card No:
Card variant
Deceased name
Date of death
Died due to (Rail/Road/Air)
Brief fact of the case
Nominee address & contact no

Following documents are required to proceed further in the claim and claim supporting documents must be submitted to Branch by claimant within 60 days from the date of intimation.