[jinojohnt]

Originally Posted by Raccoon

Unless you know already, they are virtual one time use cards for which you can select any limit for yourself. Work perfectly for me. Used them 3 - 4 times till now. You can generate one in just a few mins.

How does this work? Do we have to go to bank for each virtual card? I guess we need to have an HDFC savings account for this?
One of my friends has also used the one time gift card from HDFC (Pre-charged, use and throw credit card), but I think we need to go to bank for that.

[Spitfire]

Originally Posted by jinojohnt

How does this work?

Its a virtual card. Login, create with required limit, use and the card and card number are invalid forever after that transaction.

[Gansan]

Originally Posted by jinojohnt

How does this work? Do we have to go to bank for each virtual card? I guess we need to have an HDFC savings account for this?
One of my friends has also used the one time gift card from HDFC (Pre-charged, use and throw credit card), but I think we need to go to bank for that.

If you have a HDFC Bank Visa credit card, you can register for netsafe facility through the bank's portal. Thereafter you can create a virtual card online before every transaction. For example if I have to book a ticket to TVM through IRCTC, I will first go to HDFC bank portal and generate a virtual card for Rs 500. As soon as it is created, I will open a new tab and go to IRCTC portal. When the payment page pops up, I will select HDFC Bank payment gateway, then copy/paste the card no/exp date/cvv from the virtual card in the relevant fields. Then click pay and bingo, the transaction will go though, the virtual card will be destroyed. Then for booking the return ticket, I will again generate another vc for Rs 500, go to IRCTC and repeat the process. I hope you get the drift!

The advantage is the virtual card will be generated in a jiffy and destroyed after a single use. The card no, exp date and cvv will be different in each card so generated. And as you will only copy/paste the data and not use the keyboard, stealthy keyboard loggers will not work! If you can't use a generated card for some reason such as a problem with the merchant site, the generated vc will still be destroyed in 24 hours and the amount will be credited back to your actual card account.

[sgiitk]

Only one hitch. Many Airlines want you to carry the 'original' card or its photocopy. I must say nobody has ever asked for it. So maybe one should print out the 'virtual card' as well.

[Raccoon]

Originally Posted by Gansan

+1 to this. I always use this for my online transactions. Never ever use debit cards online.

Why so? I mean debit cards would have the same security concerns as Credit Cards, when used online. Is there some additional disadvantage of using a Debit Card (other than the fact that a disputed charge would mean that the amount is actually debited from your account till the period the issue is resolved).

Originally Posted by jinojohnt

How does this work? Do we have to go to bank for each virtual card? I guess we need to have an HDFC savings account for this?
One of my friends has also used the one time gift card from HDFC (Pre-charged, use and throw credit card), but I think we need to go to bank for that.

Do you think lazy me would use it if you need to go to the bank for this? Anyway, your query has already been answered. Btw, the gift card you have mentioned is different. You can't use the Netsafe card in a store, where a physical card is required. I guess you will need a HDFC debit or credit card to use Netsafe. Not sure if just having a Savings A/c will be enough.

Originally Posted by Gansan

And as you will only copy/paste the data and not use the keyboard, stealthy keyboard loggers will not work! If you can't use a generated card for some reason such as a problem with the merchant site, the generated vc will still be destroyed in 24 hours and the amount will be credited back to your actual card account.

Hehe... don't feel too secure because you are copy/pasting. The data from your clipboard can be easily read. Its not just the keystrokes that can give you away.


I see one disadvantage in using Netsafe - what about reward points, discounts, etc? Even if they are valid for your HDFC debit/credit card, I don't think the derived Netsafe card will confer the benefits. Or does anybody know if it is otherwise?

[jinojohnt]

Originally Posted by Gansan

If you have a HDFC Bank Visa credit card, you can register for netsafe facility through the bank's portal. Thereafter you can create a virtual card online before every transaction.

Ok. That means I would still need to have a valid HDFC credit card for getting a virtual card? (Just having a savings account won't do?)

[Gansan]

Originally Posted by Raccoon

Why so? I mean debit cards would have the same security concerns as Credit Cards, when used online. Is there some additional disadvantage of using a Debit Card (other than the fact that a disputed charge would mean that the amount is actually debited from your account till the period the issue is resolved).

Correct. With a cc you have time to protest the charge and avoid payment. with a debit card your entire balance can be wiped out. Don't they double up as ATM cards always?


Hehe... don't feel too secure because you are copy/pasting. The data from your clipboard can be easily read. Its not just the keystrokes that can give you away.

I did not know that! Thanks for the info.

I see one disadvantage in using Netsafe - what about reward points, discounts, etc? Even if they are valid for your HDFC debit/credit card, I don't think the derived Netsafe card will confer the benefits. Or does anybody know if it is otherwise?

Rewards points will still accrue.

Originally Posted by jinojohnt

Ok. That means I would still need to have a valid HDFC credit card for getting a virtual card? (Just having a savings account won't do?)

That is correct.

[Raccoon]

^^^Like I mentioned, A savings A/c with a debit card will work. Credit card not required. IIRC a savings A/c with an ATM card won't work.

[dipak1406]

Dear friends - i have salary savngs account with ICICI - on 28th march, 2010 i had gone with my wife to a mall - before entering i asked her to withdraw 1000 from ATM - while we were window shopping and snacking i got an SMS from ICICI that my account has been debited by Rs 5000/- surprised i called up customer service and was informed that i have withdrawn this amount from ATM - i blasted the executive and next day went to their branch and blasted their branch senior manager - my simple question was if i have a debit card with me then how can my account be debited ? At first they asked me to file FIR - i told them that if i file FIR it will be against ICICI for poor security back up - immediately they took my complain and have assured me that the matter will be resolved in 12 days - will keep you updated after 3 days - regards Deepak

[kirantp]

Folks, Just a word of caution here. Recently, ICICI Bank had set up a stall at our office where they offered attractive Gold Buying schemes during Akshya Tritiya. Couple of my colleagues purchased gold from them worth 50K and have ended up running behind the executives till date to get their respective Invoices. They were told that they would ship the invoices within few days and have not heard from them so far. They are also not responding to their repeated calls either.

Suggest to be careful before venturing into such schemes.

Cheers,
KTP

[vinu_h]

This happened at 10 AM today ICICI 7th block Jayanagar branch.

My wife walked in with a self cheque to withdraw 4 lakhs cash. A minute later, the cashier placed the cash on the table and asks my wife to sign the receipt. Since 100 x 2000, 100 x 500 and 100 x 500 converts to only 3 lakhs, she asked for a recount. Cashier said that its unnecessary and that this is routine for her and that she has already counted. Wife refused and demanded a recount. Cashier apologized when the recount showed 3 lakhs.

I am taking her out to dinner today

[BenjiRoss]

Originally Posted by vinu_h

This happened at 10 AM today ICICI 7th block Jayanagar branch

I am taking her out to dinner today

The cashier or the wife for dinner?
Just kidding.
If your wife had not checked and the cashier ended up with one lac extra what happens when at the end of the day the bank notices the extra cash as they settle accounts?

[arvind71181]

Originally Posted by BenjiRoss

The cashier or the wife for dinner?
Just kidding.
If your wife had not checked and the cashier ended up with one lac extra what happens when at the end of the day the bank notices the extra cash as they settle accounts?

The cashier will pocket this extra amount and on paper it would show that the customer has withdrawn 4L so no one will be the wiser, right?

[JLS]

Originally Posted by BenjiRoss

The cashier or the wife for dinner?
Just kidding.
If your wife had not checked and the cashier ended up with one lac extra what happens when at the end of the day the bank notices the extra cash as they settle accounts?

Bank will not notice extra cash if cashier had pocketed the money

[deathwalkr]

Originally Posted by vinu_h

This happened at 10 AM today ICICI 7th block Jayanagar branch.

My wife walked in with a self cheque to withdraw 4 lakhs cash. A minute later, the cashier placed the cash on the table and asks my wife to sign the receipt. Since 100 x 2000, 100 x 500 and 100 x 500 converts to only 3 lakhs, she asked for a recount. Cashier said that its unnecessary and that this is routine for her and that she has already counted. Wife refused and demanded a recount. Cashier apologized when the recount showed 3 lakhs.

I am taking her out to dinner today

Good presence of mind! I would have had a heart attack withdrawing that sort of cash!