I am a Priority Banking customer of Axis Bank and hold the Priority Debit Card. My wife is a joint account holder and has a separate debit card issued to her by the bank.
Recently I was traveling to Ukraine and EU (Paris & Zurich) - between 30.11.2010 and 12.12.2010 - where I had carried my debit card and used it for transactions on 7th Dec (Paris) and 9th & 10th Dec (Zurich). I came back to India on 12th Dec and always had and still have the debit card in my possession.
I was surprised to get a mobile alert on 13th Morning showing ATM transactions as a result of which my remaining balance was showing much less than what was before I left India. I immediately blocked both debit and credit cards and rushed to the bank, where they generated a statement showing ATM transactions in Turkey totalling TRY 26700, approximately valued at nearly ONE LAKH per day, from 5th through 13th Dec.
I have submitted proof of travel - copies of entry and exit stamps on my passport; and Axis Bank own report showing the card was used by me during this period when the alleged withdrawals were happening in Turkey.
Despite this the bank claims that since cash was disbursed at the Turkey ATM - the amount will not be refunded.
The alleged transactions are unprecedented - with all telltale signs of fraud:
- unprecedented amount of daily withdrawals
- consecutive daily withdrawals
- withdrawals in a Foreign Country where this card has never been used before
Despite this, even considering the fact that as Priority Banking customer I have been promised personal care and attention - the bank has not sought clarifications from me, or in my absence from my wife who is a joint account holder. This has allowed the fraud to continue over several days and precipitate the situation that I am out of pocket by 8.4Lakhs.
Please suggest a suitable course of action to seek remedy