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Banking: Prashant Joshi

Business Standard / 27 Mar 12 | 12:31 AM

I have a home loan account with a leading private bank. I have also been provided with an executive who is my point of contact. But she does not respond to my calls; neither does she revert to mails easily. How can I inform the bank about her lax attitude?
You can lodge a complaint against your relationship manager with the customer service team of the bank by phone or email. Alternatively, you can visit the branch and talk to the service desk/ branch manager about the issues.

Do banks check the number of credit cards one holds when applying for a new one and reject the application? If yes, how many cards can an individual hold at a time?
Banks take into account the individuals debt burden vis-à-vis repayment capability and the delinquency record of the applicant. Banks would ascertain this through declared income, stated financial commitments and credit bureau reports. While there is no defined limit to how many cards a customer can hold, the number is surely an input in the decision-making process.

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I am travelling abroad next month. Is it safe to carry a debit or a credit card? Also, how does the prepaid card work? Is it linked to my bank account or will I have to get the money transferred from a merchant? Do you suggest any other options?
It is relatively safe to carry and use debit or credit cards internationally. Debit and credit cards have insurance protection up to a certain limit for fraudulent transactions. Most banks send alerts via text messages and email for all transactions. So, ensure your mobile number and email address is updated with your bank, which will enable you to track your account closely.

A prepaid card is a standalone product, where a certain amount of foreign currency is loaded to the card and thereafter the card can be used at international merchant outlets and ATMs up to the amount loaded. It is not directly linked to the bank account, but a certain amount from your bank account can be pre-loaded to the card.

Cash, travellers’ cheques, prepaid forex cards, debit cards and credit cards are options for overseas spending. All cards -- be it prepaid, debit or credit -- offer better security and convenience vis-a-vis cash or traveller’s cheques.

The writer is MD & head, private & business clients (India), Deutsche Bank. Views expressed are his own. Send your queries at 

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