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On 25th of May 2021, the Supreme People's Court released the Provisions about Issues Relating to Handling of Bank Card Civil Disputes, with immediate effect.

The regulation aims to set principles and rules for the handling of civil disputes arising from bank card contracts and use among cardholders, card issuers, non-bank payment institutions, acquiring banks, and merchants.

The highlights are as follows:

* In the event of a debit card fraud by using counterfeit card or online debit card fraud, the court shall support the debit card holders claim which require the issuing bank to pay the principal and interest of the stolen amount and compensate for the loss based on the legal relationship of the debit card contract.

* In the event of a credit card fraud by using counterfeit card or online credit card fraud, the court shall support the credit card holder's request for the return of the withheld the principal and interest of the overdraft, default fineand compensation for losses based on the legal relationship of the credit card contract; if the issuing bank requests the credit cardholder to repay the interest of the overdraft and default fine, etc., the decision from the court shall not be in favor of the bank"

Of course, the cardholders must provide evidence to prove the occurrence of credit/debit card fraud, before making a claim to the bank, such as: valid judgement, location of the real card at the time of the disputed transaction, the place of the transaction, the transaction detail, notification of the disputed transaction , the alarm logging, record of reporting the loss, etc.

For more information please visit the website of The Supreme Peoples Court of The Peoples Republic of China.

 Click "read more" to visit our website

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Hot off the Press! Provisions Regarding Bank Card Fraud

You may also feel interested in:

Walk Your Dog on a Leash Now!

The first Guide to Prevention and Control of Sexual Harassment

On 25th of May 2021, the Supreme People's Court released the Provisions about Issues Relating to Handling of Bank Card Civil Disputes, with immediate effect.

The regulation aims to set principles and rules for the handling of civil disputes arising from bank card contracts and use among cardholders, card issuers, non-bank payment institutions, acquiring banks, and merchants.

The highlights are as follows:

* In the event of a debit card fraud by using counterfeit card or online debit card fraud, the court shall support the debit card holders claim which require the issuing bank to pay the principal and interest of the stolen amount and compensate for the loss based on the legal relationship of the debit card contract.

* In the event of a credit card fraud by using counterfeit card or online credit card fraud, the court shall support the credit card holder's request for the return of the withheld the principal and interest of the overdraft, default fineand compensation for losses based on the legal relationship of the credit card contract; if the issuing bank requests the credit cardholder to repay the interest of the overdraft and default fine, etc., the decision from the court shall not be in favor of the bank"

Of course, the cardholders must provide evidence to prove the occurrence of credit/debit card fraud, before making a claim to the bank, such as: valid judgement, location of the real card at the time of the disputed transaction, the place of the transaction, the transaction detail, notification of the disputed transaction , the alarm logging, record of reporting the loss, etc.

For more information please visit the website of The Supreme Peoples Court of The Peoples Republic of China.

 Click "read more" to visit our website

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