Rule 13.2 of the Bank Negara rules on credit??

Hi,

I found this(below) on the website and hope you can help to confirm about this whether it really exist such a rules in malaysia?
IF so, what can we do if the bank refuse about this? As i involved in one of the fraud case, so looking around for solution.
thx in advance for your help

"All Malaysians should be made aware of this clause ¡­¡­.

The limit of your liability for a lost or stolen credit card is RM250.00 only under Rule 13.2 of the Bank Negara rules on credit card if it has been fraudulently used.

Please note this limit and ensure that your bank does not overcharge you should your card have been used illegally.

Most are unaware of RM250 limited liability ¨C PLEASE READ AND BE INFORMED! CARDHOLDERS need not pay more than RM250 whenever their lost or stolen credit cards are used by others. Yet, often times, they end up paying much more.

This is because Bank Negara has not informed cardholders that they do not have to pay more than RM250 for fraudulent transactions carried out using their lost or stolen cards, when they had not acted fraudulently and had informed the banks about the lost or stolen cards as soon as possible.

This protection is given under Clause 13.2 of Bank Negara's Credit Card Guideline:

"The cardholder's maximum liability for unauthorised transactions as a consequence of a lost or stolen credit card shall be confined to a limit specified by the issuer of credit cards, which shall not exceed RM250 provided the cardholder has not acted fraudulently or has not failed to inform the issuer of credit cards as soon as reasonably practicable after having found that his credit card is lost or stolen."

Banks know about Clause 13.2 but have chosen to ignore it. Instead they pursue cardholders for the fraudulent transactions.

They will tell cardholders that a clause in the credit card contracts states that all transactions carried out before the loss of the cards are reported to the banks, are deemed to be carried out by the cardholders.

Many cardholders then pay up because they are unaware of the RM250 limited liability. "

how can we use this rules to protect us from card stolen??

i had call the bank stop my C/Card while realised the card have been stolen & make polis report & follow by fill up dispute transaction form requested by bank.

at 1st bank said onli can absorb 20% & we need to paid 80%.
So i re appeal & they reply n said final offer 50%. we need to paid 50% = RM1500
how? can i re-appeal? or complaint?

is it the rules really help/protect us as consumer/victim???

advised please...thanks

i am also having this similiar case today, but most propably i got to pay it all for the debt cost the bank explaint to me i lost my card cause of my careless.. but they really spend too much on my card.. help, what should i going to do to reduce my burden. help.. your help is much appreciate...

I am having the same problem.
when i go jogging at TTDI, i lock my wallet inside the car.
but then during dinner time, i realize my card been stolen.
the unauthorized amount gone up to rm3000 within 3 hours (3 transaction).
I will attend to FMB next week.

Please advice.

i have this problem too..
my card been stolen (in the car) within 5 minutes while im in the toilet.
all stuff including phone gone in a short time.
immediate police report done and the bankers told me there are 3 unauthorized transactions made within an hour (the time between loosing the stuff and make police report) has reached almost RM3K.
so how to solve this? pls help..

The Rm250 limit will apply after you informed the Bank. Since the transaction made before you informed the Bank, you will most likely be liable for the RM3,000.00 transaction.