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What you need to do if Unauthorized transaction from SBI account

We might come across any unauthorized transaction in your bank account, chances are that either your card has been stolen or it has been skimmed and the details have been stolen by someone who is now accessing your account. One Time Passwords (OTPs)
and other authentication processes often prevent fraudsters from getting into your account. However, some people are able to bypass that and manage to make transactions from someone else's account. 

State Bank of India is the largest public sector bank in the country with over 43,000 ATMs across the country. SBI offers a host of banking services. If you have noticed any unauthorized transaction from your SBI account, here's what you can do

Call: You can notify any unauthorized electronic transaction on toll-free numbers 1-800-425-3800 and 1-800-11-2211 immediately.

Online: You can also register a complaint online.

1. Visit SBI website and go to 'Complaints and Compliments' option.

2. Locate 'Want to register an unauthorized transaction?' and click on 'Register Complaint'.

3. You will be redirected to the consumer complaint form. Enter details like account number, name, branch code, mobile number, customer type, email ID, nature of the complaint, products and services etc. Also, describe your complaint in not more than 500 characters. 

4. Enter the Captcha code and click on Submit.

You can check your complaint status by clicking on 'Click here to check complaint status' on the same complaint form.

Worth mentioning here is that in order to curb unauthorized transactions, the Reserve Bank of India (RBI) issued a notification in 2017. The notification stated that revised directions are being issued to curb the surge in customer grievances relating to unauthorised transactions resulting in money debited to their accounts/ cards. 

This is what the RBI notification states about unauthorized/unusual transactions:

1. A customer has zero liability if there is contributory fraud/ negligence/ deficiency on the part of the bank, irrespective of whether or not the transaction is reported to the bank by the customer.

2. The customer has no liability in case of a third party breach where the fault lies neither with the bank nor with the customer but lies elsewhere in the system, and the customer notifies the bank within three working days of receiving the alert from the bank regarding the unauthorised transaction.

3. In cases where the loss is due to negligence by a customer, such as where they have shared their payment credentials, account details, card details etc., the customer will bear the entire loss until they report the unauthorised transaction to the bank. Any loss occurring after the reporting of the unauthorised transaction shall be borne by the bank.

4. In cases where the responsibility for the unauthorised electronic banking transaction lies neither with the bank nor with the customer, but lies elsewhere in the system and when there is a delay (of four to seven working days after receiving the communication from the bank) on the part of the customer in notifying the bank of such a transaction, the per transaction liability of the customer shall be limited to the transaction value.

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