#AutoDebit Rules Changed From Today : All You Need To Know

by GoNews Desk Oct 01, 2021 • 04:42 PM Views 738

Aut debit card rules have been WEF 1 October 2021. If you are transacting more than Rs 5000, then the bank can ask you for additional factor verifiatin. This means that recurring payments on digital platforms will now haev to be notified each time to consumers. banks will have to notify customers 24 hours before debiting any amount automaticaly. The new auto debit rules were set to be enforced from April this year but were pushed back by the RBI to September 30 due to the coronavirus pandemic. This change will impact those who use auto-debit transactions to pay their bills, subscriptions, etc.