Citibank in association with CPP launched a novel rescue plan

Citibank cardholders now don’t need to contact bank to freeze the credit or debit card one phone call will solve the problem. Citibank, in partnership with CPP Assistance Services, has launched a card protection plan for its cardholder wherein they don’t only get protection for Citibank credit card or debit cards, but also for those of other issuers, and even non-financial ones such as store, loyalty and membership cards.

Under this plan the cardholder will also be 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 get the option to select the appropriate cover plan in line with their lifestyle and spending behavior. According to the plan selected by the customers, they would get thecoverfor 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.

Bhalla said the premium on the protection plan will be "An annual fee of Rs 995 for the Classic plan or Rs 1,295 for the Premium plan".

Citibank offers card protection plan benefit to its customers

On Wednesday Citibank introduced a new card protection benefit for its customer. Bank has launched this scheme in tie-up with CPP Assistance Services, a global player in assistance services marketing.

With the introduction of this scheme the card benefit include protection against any misuse due to lost/stolen card. Under this service the cardholder’s entire wallet of cards be credit or debit, including those of other issuers, and even non-financial ones such as store, loyalty and membership cards gets protected. Further, the cardholder also gets protection from any fraudulent use that may have occurred seven days prior to discovery and within 24 hours of notification of card loss.

Besides, 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 get option to choose from a set of distinct plans, suitable to their lifestyle and spending behavior. In accordance to the plan selected, customers can be covered for fraud loss on their credit cards up to Rs.1 lakh prior and Rs.20 lakhs post notification; overseas emergency assistance for payment of hotel expenses of upto Rs.1.2 lakhs and Rs.60, 000 in India; and replacement travel ticket advance of Rs.1.2 lakhs while overseas and Rs.60,000 in India. The annual fee of Rs. 995 will be charged for the classic plan and Rs.1295 for the premium plan.

During the launch Sandeep Bhalla, business manager, cards, Citibank India, said, “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.”