Citibank offers me regular credit card transaction updates over email and SMS for free. I find this very useful as it makes me aware of the transactions performed on my card and can help me to identify the issues. The communication email looks as below and makes me feel good.
Rs xxx.00 was spent on your Credit Card NUMXXXXXXXXNUM on DD-MM-YY at xxxx .
The bank also send me account statement and credit card statement is password protected document and the password is combination of my name in the account, and Date of birth in a specific order. They also share with me the combination, which makes me little uncomfortable. I gain comfort as the document is send only to me and not to others.
If you trade in shares and dividends, the share agent sends you encrypted document sometimes of the transaction and sometimes plain text form of the transactions. So they reveal my DEMAT depository number and my DEMAT identification number, they do not reveal the my bank account or my bank number.
If you hold shares in Indian companies, they credit dividend to your bank account and send you details of the dividend credited to your home earlier by regular post. Now they send by email and that saves paper and postal charges. But should they not make sure that my personal details are not leaked.
Below is the extract of the email send by one of the registrars of the Company(example,Karvy consultants) for company with whom I hold shares.
|02.||DP ID & Client ID No.||XXXXXXX XXXXXX(information leak)|
|04.||Dividend per Share(Rs.)||4.00|
|05.||No. of equity shares held on Book Closure Date i.e., close of business hours on 15/06/2012||XX(information leak)|
|06.||Dividend Amount (Rs.)||xxx.00(information leak)|
|07.||Name of the Bank||<< Bank Name >>(information leak)|
|08.||Bank Account No.||<< Account Number >>(information leak)|
|09.||MICR code||<< MICR Number >>(information leak)|
|10.||Date of remittance||Remittance Date|
|11.||Mode of Payment||National Electronic Clearing Services|