Do you use your debit/credit card or mobile wallet for recurring auto-debit payments? If yes, then you should know that from October 1 onwards, as mandated by the Reserve Bank of India (RBI), banks ...
The new rule will apply to all types of auto-debit payments using credit card, debit card, UPI and PPI, including wallets. The Reserve Bank has decided to extend the timeline for the stakeholders to ...
Automatic withdrawals from your account can be a convenient way to pay -- but sometimes they take on a life of their own. The federal government's consumer watchdog Monday issued a reminder to ...
The Reserve Bank of India (RBI) has differed the deadline to implement curbs on the auto-debit facility that has been available to you on your credit card, by another six months. Those curbs were to ...
Monthly bill payments, recharges will fail if you don't know this new RBI rule. 5 points to remember
RBI has finally implemented new auto debit rules on credit cards, debit cards, UPI and prepaid payment instruments. (Representative image)(MINT_PRINT) In its next step to secure digital transactions ...
Your auto-payment facility may fail over an OTP issue. Yes, you read that right. If RBI note is followed, this is actually set to happen, unless a new date is announced very soon. So, if you have ...
As per the data from the National Payments Corporation of India (NPCI), the combined auto debit failure of all the banks in the country stood at 37 per cent in June. The NPCI data further suggested ...
The ‘bounce rate’ on auto-debit transactions, or auto-debits that did not clear, has remained elevated over the last few months. Between April and October 2020, the bounce rate on debit transactions ...
The share of failed auto-debit requests on the National Automated Clearing House (NACH) platform eased to 29.97% in volume terms in December 2021 from 31.22% in the previous month. In value terms, the ...
Most federal student loan borrowers have not had to make any payments on their loans for over 18 months due to the ongoing national payment pause. Earlier this year, President Biden extended the ...
Effective October 1, new auto-debit rules have come into effect that will impact some periodic card-based {debit cards, credit cards, Unified Payments Interface (UPI) or other prepaid payment ...
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