8 Secrets the Banks Don't Want You to Know


BANGALORE: Banking transactions happen to be the most frequent ones in our day-to-day lives. Once upon a time, people had personal relationship with their bank managers. But things have changed quite a bit in the recent decades.

Most of us are oblivious of our rights and our banks’ obligations under various circumstances. In order to acquaint with some of the most common, but often ignored, facts about banking transaction, here are the 10 things your bank will never inform you or the facts you don’t know about.

1. Make sure you have the right loss and theft protection

If you are using your ATM card for debit transactions, ask your bank what kind of protection it offers if the card is stolen or lost. Thousands of dollars could be pulled from your checking account. In many cases, you wouldn’t be nearly as protected as you would be with a stolen credit card.

It is the bank’s responsibility to tell you about what kind of protection it offers if your ATM card is stolen or lost. It becomes all the more important if you use your card for debit transactions.