LEGALITY OF SIGNATURE VERIFICATION WHILE MAKING PURCHASE THROUGH CREDIT
chander shekhar
(Querist) 06 July 2008
This query is : Resolved
DEAR ALL
Please tell me whether credit card company who is claiming payment for the unauthorised transations done on lost card charge slips of which have signatures which do not even resemble with mine. is the company right in claming payment against such charge slips. if am i liable to pay the amount for such transations. whether there is any responsibility on the part of the credit card company to verify the signature on the charge slips with that of the credit card holder.
thank you,
CHANDER SHEKHAR
anantha krishna n.v. Advocate
(Expert) 06 July 2008
You did not state whether you have signed at the place provided on the back side of the credit card when the card was with you. If you have not signed, probably the finder might have signed there adn started using it. Then you may not have a claim.
if you have signed, then if it is a manual charge slip, signature is a must and that would be compared with the signature on the reverse of the card.
if it is a chargeslip created by swiping on the machines,then signatre is not required at all, though it is obtained.(signature is read by code reader from the black strip on the reverse of the card)
Most important, have yu really informed the credit card department about the loss and wanted them to withhold the same?
get back for further details.
R.V.RAO
(Expert) 03 February 2014
yes,rightly advised by sri anantha krishna,adv.
take up the matter in right earnest with your credit card company and ask them to stop transactions on the card ,cancel the same,black list it and issue new card.
if no response after repeated reminders,take up with banking ombudsman/grievance cell-dept.of banking-ministry of finance ,north blck-newdelhi
