[Resolved]  HDFC Bank — hdfc bank debit card deactivated

Oct 23, 2018

HDFC Bank Customer Care's response Dear Customer,

We wish to inform that the bank regularly monitors the credit card transactions incurred by its customers and during such instance, the bank has observed certain international transaction(s) on your Credit Card. Transaction date: March 14, 2018 Merchant Name: iqoption.com Limassol 2 Instances As informed in our terms and conditions while offering the card, these transactions may have implications under Foreign Exchange Management Act (FEMA), 1999. The guidelines issued by Reserve Bank of India in the matter are as under 1. Remittance in any form towards overseas foreign exchange trading (including through electronic/internet trading portals or by use of credit/debit cards) is not permitted and customers are cautioned not to remit or deposit money or utilize credit/debit cards for such transactions. 2. Person resident in India collecting and effecting/remitting payments directly /indirectly outside India in any form towards overseas foreign exchange trading through electronic/internet trading portals would make himself/ herself/themselves liable to be proceeded against with for contravention of the Foreign Exchange Management Act (FEMA), 1999 besides being liable for violation of regulations relating to Know Your Customer (KYC) norms / Anti Money Laundering (AML) standards. 3. Banks are required to close such card(s) / account(s) and report such prohibited overseas foreign exchange trading transactions on the credit/debit cards to the Reserve Bank of India. The Bank is also required to take necessary actions, not limited to withholding services or closure of the relationship(s) held with the bank, in case any cardholder is found to be involved in carrying out transactions on the card which are not in accordance with the regulatory guidelines or otherwise prohibited by the law of the land. We observe that you have used your card for such restricted transactions. In view of the same, we were constrained to close your debit card held with the bank. We request you to destroy the card(s) in your possession. Kindly visit the following URL to access information for the complete address and contact details of our Branches as well as our PhoneBanking numbers: https://bit.ly/1FVOjPE https://bit.ly/1eQZPmu The above URL gives you access to the various contact points to get in touch with us through the Customer Center.

-Manoj
HDFC Bank Customer Assistance