A hotlist is a list of ATM cards for which a report or complaint has been lodged by the cardholder for being banned in the bank for their theft or misuse.
The account holder should always be vigilant to safeguard his hard earned money. At the same time, one should always be alert for any fraud related to ATM card. Because with the ATM card always being stolen, there is a high possibility of its misuse. In such a situation, if an ATM cardholder has any doubt that his ATM may be misused, banks recommend getting him hotlisted. So that its misuse can be prevented.
What is Hotlist
A hotlist is a list of ATM cards for which a report or complaint has been lodged by the cardholder for being banned in the bank for their theft or misuse. This is an electronically maintained list, which is given to all merchants accepting that card. At the same time, ATM card or debit card is put in the list of such restricted transactions, they are called Hotlisted ATM card or debit card.
The benefits of hotlisting
When an ATM card or debit card is hotlisted. Then not only the transactions from the respective card are stopped. Rather, wherever that card is used, its information can be obtained from the bank or POS network.
Think of it like this..
A citizen has an ATM or debit card issued by a bank. But, it gets stolen after a few days. In such a situation, that citizen gives his complaint regarding that card to the concerned bank. The bank puts the card of that number in the Hotlist. In such a situation, if ever that card is used in any shop or POS, then the information about that card being hotlisted will start appearing in that POS. In such a situation, according to the rules, the shopkeeper can keep that hotlisted card with him or can inform the police about it.
How to get ATM / Debit card Hotlist
To hotlist an ATM card, credit card, debit card, you can complain about that card to the bank’s toll free number or helpline number. Also, you can block and hotlist any card through SMS and email. However, if you do not have the bank toll free number or helpline number of the concerned bank, you can also hotlist the ATM/Debit/Credit card through the application process by visiting the nearest branch of that bank.
