Citibank has launched a credit card benefit that protects against any misuse due to lost/stolen card. Amongst other benefits, it safeguards and protects them against card loss, theft and resultant fraud.
Launched in partnership with CPP Assistance Services Pvt Ltd (CPP), a global leader in assistance services marketing, this service is extremely convenient as it protects the cardholder’s entire wallet of cards, credit and debit, including those of other issuers, and even non-financial ones such as store, loyalty and membership cards. Further, the cardholder is protected from any fraudulent use that may have occurred seven days prior to discovery and within 24 hours of notification of card loss, the bank said.
Additionally, the CPP Card Protection offers benefits such as a single number to call to cancel all lost cards, replacement assistance, emergency travel and hotel assistance in India and overseas due to card loss, valuable document registration and retrieval, reminder services and access to a 24 Hour toll-free CPP helpline.
Cardholders can choose from a set of distinct plans, depending on their lifestyle and spend behaviour. Depending on the plan selected, customers can be covered for fraud loss on their cards up to Rs 1 lakh prior and Rs 20 lakh post notification; overseas emergency assistance for payment of hotel expenses of up to Rs 1.2 lakh and Rs 60,000 in India; and replacement travel ticket advance of Rs 1.2 lakh while overseas and Rs 60,000 whilst in India. The annual fee applicable is Rs 995 for the Classic plan and Rs 1295 for the Premium plan. Citibank Cardholders can now enrol themselves for CPP Card Protection membership by calling the Bank’s 24X7 customer service channel CitiPhone in their city.
Losing one’s wallet can be devastating, especially if its contents are stolen and abused. With this protection offer, consumers can now travel and use their cards with a peace of mind, anytime and anywhere knowing that their card is protected. Also, regulators have strongly recommended banks to introduce a cover to take care of the liabilities arising out of lost cards, and Citicards has provided such a solution to our customer base.”
In addition to providing Citibank cardholders protection against fraudulent usage of their cards at home or overseas, CPP Card Protection also serves as a repository of valuable personal information such as passport details, driving license number, share certificates, insurance policies and other such important documents. Once these are registered with CPP, cardholders need only to make a single phone call to retrieve these instantly.
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