- Please be reminded that effective 1st January 2016, Bank Negara Malaysia (BNM) requires all banks to by default, block any cardholder from making any Card-Not-Present (CNP) debit card transactions, UNLESS the cardholder has expressly activated / opted-in to conduct such transactions. This requirement is to protect debit cardholders and to mitigate the risk of unauthorised transactions.
- A CNP transaction is a card payment transaction where the cardholder is not physically present at the merchant when the payment is made, and includes online (internet) transactions, mail order and telephone order.
- If you are currently using / plan to use debit card to pay for your TMLM policies, please ensure the following are performed to ensure uninterrupted coverage under your policies:
- 1. Contact the bank’s call centre or visit any of its branches.
- 2. Check with your card issuing banks to confirm if the debit card is allowed for direct debit transactions.
- 3. Check if any default setting on your debit card and deactivate any restricted settings, if any.
- 4. Increase the default limit or confirm with the bank on maximum limit imposed to avoid any unsuccessful billing attempts.
- 5. Inform the bank that you would like to activate / opt-in to perform CNP transactions. Please note that this is a one time activation / opt-in exercise for each card.
- 6. Ensure there is sufficient fund / limit at all times.
Please also note that if you already have an existing auto-debit arrangement using your debit cards, you need NOT send an updated auto-debit form after activating / opting-in for CNP transactions.
|