If your wallet is ever stolen, now you needn’t contact all the banks to freeze the different credit or debit cards that were in your wallet. Just one phone call will solve the matter.
Citibank, in partnership with CPP Assistance Services, has launched a card protection plan wherein you don’t only get protection for your Citibank credit or debit cards, but also for those of other issuers, and even non-financial ones such as store, loyalty and membership cards.
The cardholder is also protected from any fraudulent use that may have occurred seven days prior to discovery and within 24 hours of notification of card loss. CPP Assistance is a subsidiary of CPP Group, a global leader in the assistance services market.
“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,” said Sandeep Bhalla, Business Manager, Cards, Citibank India.
Customers can select the appropriate cover plan in line with their lifestyle and spend behaviour. Depending on the plan selected, they would be covered for loss on account of fraud on their cards up to Rs 1 lakh prior and Rs 20 lakh post-notification.
"The protection also includes 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," Bhalla said.
And what is the premium for this kind of protection? "An annual fee of Rs 995 for the Classic plan or Rs 1,295 for the Premium plan," said Bhalla.