The Plus Extended Protection Plan will reimburse any fraudulent transaction occurred on the lost card up to 12 hours prior to the customer reporting the loss to the bank, StanChart said in a press release issued here today.
"We receive several lost card reports in a month. The product will ensure protection to our valued customers against any fraudulent use," StanChart's General Manager, Credit Cards and Personal loans, R L Prasad, said in a statement.
In the event of fraudulence, customers will receive reimbursement up to Rs 50,000 per occurrence, who can register any payment card for the cover, the bank said.
The plan also covers ATM assault and robbery insurance, lost wallet protection, purchase protection and home protection while away, the bank said.
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StanChart has 90 branches in 33 cities in the country and has a combined customer-base of around 2.1 million.