ABN amro bank credit card india

In talks with Fortis to retain Dutch bank's division in India.

ABN AMRO Bank N.V (India) today launched the ABN AMRO Platinum Credit Card collection, India's first designer credit cards designed exclusively for ABN AMRO by celebrated designer Rohit Bal.

ABN Amro's country head Romesh Sobti, the longest serving head of a foreign bank in India, has put in his papers to take over as MD & CEO of IndusInd Bank from Bhaskar Ghose. Mr Sobti's move comes following the takeover of most of ABN Amro by UK's Royal Bank of Scotland (RBS), which will now have to find a new person to head operations in India, one of ABN's top three markets in Asia.

There has been a lot of talk recently about taking advantage of 0% balance transfer credit card offers. Applying for a balance transfer credit card can reduce your interest fees and balance transfer credit cards are ideal for the consumer looking to consolidate several credit cards onto a single bill.

If you choose a balance transfer credit card, it can save you a lot. Balance transfers can be helpful to consumers in many ways. Let's face it, a lot of credit card providers are offering a 0 balance transfer credit card, so you are probably looking for a ABN AMRO credit card that stands out from the crowd. First and foremost, understand what a balance transfer is. A balance transfer is when you transfer the balance from one card to another in order to get a better interest rate than the one that you are currently getting. Second, to find the absolute best deals, look to transfer balances on cards where the initial interest rate is 0% and the amount after that is lower than the one you have now. You must also realize that in order to qualify for the best balance transfer credit card deals you must have a solid credit history.

You also need to discern whether or not the zero percent introductory rates are just for balance transfers or include purchases made during this period, and it will be well worth taking your time to understand all of the terms, rates and fees in order to find the best balance transfer credit cards that suit your financial need.

ABN AMRO Bank and MakeMyTrip.com today announced a partnership to launch a co-branded Travel Credit Card 'GO'. This travel card promises to be a unique offering and will provide a wide range of domestic and international travel services as well as offering exclusive promotions around airlines, hotels and holiday packages.

With the arrest of five men on Saturday, the crime branch claimed to have busted an international airline e-ticketing racket. One of those arrested belongs to Congo. The gang fraudulently used credit card details to purchase air tickets on Internet, said the police.

A recast is expected at ABN Amro Bank India, which could see the bank selling its interests in asset management. The move follows the acquisition of ABN Amro bank in a euro 71 billion deal globally by a consortium of investors led by the Royal Bank of Scotland (RBS), Fortis and Banco Santander.

Social security numbers and other sensitive information belonging to more than 5,000 customers of ABN Amro Mortgage Group have been leaked onto the BearShare file-sharing network by a former employee, according to news reports.

The information, which also included names and mortgage details, appear to have been leaked after a former business analyst for the company installed the file-sharing software on her PC and proceeded to share a large swath of her hard drive with the entire network. Included with five spreadsheets containing the ABN Amro customer data were a resume and travel documents belonging to the woman, who was located in Florida, according to Dow Jones.

It's the second recent incident to underscore how careless some computer users are with file-sharing programs. Several weeks ago, a Seattle man was charged over allegations he used the LimeWire and Soulseek P2P networks as conduits for identity theft. According to court documents, Gregory Kopiloff, 35, used personal information he pulled off other people's computers to establish bogus credit card accounts and fraudulently purchase thousands of dollars of merchandise.

ABN AMRO, a leading foreign bank in Pakistan and Airblue Airlines on Wednesday launched the first co-brand MasterCard, which targets frequent and aspiring travelers.

This card features dual benefits for travelers by combining Airblue Airlines' frequent flyer scheme and benefits of an ABN AMRO credit card. This exclusive card is designed to provide superior travel opportunities to customers on domestic and international routes.

Cardholders of ABN AMRO Airblue MasterCard are eligible for other incentives such as free tickets against spending on the card and by travelling through Airblue.

Incentives to card holders includes priority check-in and baggage handling, bonus BlueMiles, access to Blue Lounge, discounts at leading retail cutlets, Travel Inconvenience Insurance and much more.

Speaking on the occasion, Naved A Khan, Country, Executive of ABN AMRO in Pakistan stated, "ABN AMRO is known for providing its customers with outstanding service.

Dutch banking giant ABN Amro is understood to have tied up with Anil Ambani group firm Reliance General Insurance to sell the latter's products through its network.

Under the exclusive bancassurance tie-up, ABN Amro would distribute Reliance's general insurance products through its bank network and distribution channel.

When contacted, ABN Amro officials declined to comment, but industry sources said an announcement of the partnership could be made very soon. A Reliance Insurance spokesperson was also tight-lipped, saying "we would not like to comment on this".

The deal follows after ABN Amro's similar tie-up with ICICI Lombard General Insurance expired last month.

The sources said such a tie-up helps the bank to offer one more service under its bouquet, while the insurer could get an incremental annual business between Rs 70-200 crore.

This tie-up could be part of ABN Amro's strategy to increase its retail footprint in India and expand its distribution reach by offering a range of insurance products to its customers, they added.

ABN Amro, through its operations in India, offers a diverse range of products including personal loans, credit cards, savings accounts, financial planning, investment and insurance services. With assets over 504 billion dollars, ABN AMRO Bank ranks among the top 10 banks in the world in size and strength.

Reliance General has been among the fastest expanding insurance companies in India recording high growth and aggressively marketing its products to corner sizable market share.

ABN Amro Bank on Saturday launched two credit cards -- Smart Gold Card and Freedom Silver Card -- with Mastercard International and plans to roll out debit cards shortly.

Initially, the cards would be offered in nine cities and then extended to 32 cities as part of efforts to increase the retail banking business in the country, AMB Amro Bank's Chief Executive Romesh Sobti told reporters after the launch.

The cards offer 50 days interest free credit, call-a-draft facility, personal accident insurance and cover on loss due to fire, burglary and purchase protection, air travel and other discounts.

"The launching of debit cards is very much in horizon," he said indicating that the bank would offer the facility of using ATM cards as the debit cards.

Has anyone stolen your card or have you lost it? The first thing you should do is call up the bank's 24-hour call centre. You have to be prompt in your action otherwise, you may end up with a huge outstanding balance if someone else misuses your card.

Lost card: Customer is liable

In India, credit card companies have a provision in their contract with the customer that the company is not liable for fraudulent transactions unless the customer reports the loss immediately. Sometimes, banks provide that cardholders enjoy a zero lost credit card liability only after the loss is reported to the bank in writing/or via telephone.

What does this mean?

'Zero liability' means that you need not pay a single penny if your credit card is stolen or has been subjected to fraudulent practices. However, in India, this liability policy comes into effect only after the customer informs the bank.

When you call at bank's 24-hour call centre number, the tele-banking executive will confirm few personal details to ensure that you are the original card holder. Subsequently, the card is deactivated with immediate effect. After this, you carry zero liability on any fraudulent transactions on your card.

Some banks offer some leeway. ABN Amro Bank, for instance, offers an insurance cover, which takes care of any fraudulent practice till the card is deactivated. The premium of this cover works to around Rs 100 per month. The minimum / maximum amount of the insurance cover is Rs 2,000/Rs 5,000. Says ABN Amro's consumer banking head Sumant Kathpalia, "We do not market the insurance cover along with the credit card. It is optional and the borrower can avail, if needed."

ABN Amro Bank NV and MasterCard International have entered into an alliance to launch ABN Amro MasterCard credit cards in India. According to this alliance, MasterCard International and ABN Amro Bank will issue a range of MasterCard credit card programmes including Gold and Standard credit cards and MasterCard electronic cards in India.

Addressing a press conference announcing the tie-up here today, Mr. Romesh Sobti, Executive Vice President and Country representative India, ABN Amro Bank, said the board of the bank had reaffirmed that ABN Amro was committed to increase its presence in India through organic growth and selective acquisitions. MasterCard International will support ABN Amro Bank's credit card initiative in various areas of payment services including operations, marketing, consulting, risk management and sponsoring.

Dutch banking major ABN Amro, the target of a takeover bidding war between Barclays and a consortium-led by Royal Bank of Scotland, on Monday reported a 39 per cent jump in revenues from India in first half of 2007.

Overall, ABN Amro has posted a reported revenue growth of 12.6 per cent at 10,653 million Euro for the first half of 2007 as compared to 9,461 million Euro in the year-ago period.

Despite higher taxes and loan loss impairments, the global major posted an 13.4 per cent increase in adjusted profit for the period at 2,390 million Euro, as a result of strong performance of the BUs Asia, Latin America and Europe, supported by Global Markets and Transaction Banking.

Credit cards have been a major breakthrough in the financial market. Now, credit cards are considered a necessity. Everybody seems to have a credit card. An American even has 9 to 10 credit cards on the average. There's just a lot that you can't do and several benefits that you can't avail if you don't a credit card.

One of the benefits of a credit card is that you can conveniently make your purchases online. Online shopping is very popular nowadays, and you can truly get great deals when you purchase online. The best part is you don't even have to leave your home, you just have to log on to the internet, make a few clicks and in 24 hours to a few days, you'll have your purchase delivered to your home.Credit cards also allow you to buy even if you don't have any cash at the moment.

You can go on a cashless shopping and still be able to avail of great discounts. In fact, by using your credit card, you also get to have the promotions and perks that your credit card company provides. With credit cards, you don't have to carry a lot of money, which can be very dangerous especially if you're going on a vacation.

India's anti-monopoly watchdog has launched a judicial probe against ABN Amro Bank after a preliminary investigation found the lender engaging in deceptive practices in its credit cards business.

The Monopolies and Restrictive Trade Practices Commission, based on the report filed by its investigative arm DGIR, issued a notice asking the bank to reply in four weeks.

Imposing penalties on late payment without ensuring whether or not the monthly statement has reached the user, failure to issue acknowledgement on cheque payments as well furnish details of its grievance redressal machinery were the deceptive practices named by the DGIR in its report.

The card has been designed to enhance the lifestyle of expatriate Indians by providing a wide array of features specifically designed to offer recognition, value and convenience to this client segment.

The credit card offers a wide array of features including; free monthly money-remittances and life insurance that offers protection for the cardholder's family along with a host of India-specific redeemable benefits, such as; free domestic flights on Kingfisher Airlines, rent-free mobile SIM cards and dining discounts at select premier outlets in India.