Debit Card Fraud?

[maslex]

Just looking for some advice from others who have been through this. I came home from vacation this past Saturday and after returning to work on Monday, I picked up my paycheck, headed to the bank to make a deposit and all was good. Thing is....I didn't look at my deposit slip until yesterday morning and I then noticed that the balance was about $500 less than what I deposited?!?!?! I then got onto my online banking and noticed that there was a charge of $457 dollars and also a fee of $25 because I didn't have enough in my checking account to cover it. I was sooooo pi$$ed!!!! Right after work yesterday morning, I headed to the bank and she had me fill out a few papers to file a claim. She did say that I was going to get my $$$ back but couldn't give me a time frame. If you have been through this what should I expect while waiting for my money back? How long did it take for you to get it back? This totally sucks!!!

 

[shanasbananas]

This happened to me last year. I didn't even know until the debit card fraud line called me b/c they noticed a discrepancy in my buying habits! I had downloaded songs periodically from Rhapsody and they noticed a huge charge to ITunes! That's what tipped them off, isn't that funny?!

Anyhoo - I got my money credited back to my account the very next day BUT they said if they didn't get the paperwork back within 10 days, they'd have to take the money back out until they got the paperwork. I assume every bank's turnaround time is different though, that was Morgan Stanley and I was an employee at the time.

BUT, the same thing ALSO happened to my mom earlier this year and Regions Bank credited their account back in about 3 days. Fortunately, they also credited back her overdraft fees!

Good luck to you. I felt so violated when it happened to me and angry that some jerk was using MY hard earned money!

 

[mster425]

Sorry that happened to you!!

I got my money back within a few days when it happened to me.

 

[msmayor]

I guess the first thing I'd question is what was the charge for...is it possible that the charge represented a hold on funds in the account that was made as a result of you being on vacation?

 

[vicki_c]

That happened to me once - I noticed it when it was still in "pending" mode on the bank website. I called and as soon as it changed from pending to the actual charge in about a day, the bank credited the amount back to me (it was $1000) and luckily I did not incur any overdraft charges. They couldn't do anything with it until it actually "hit" the account.

Then they mailed me an affidavit to sign, and of course a new bank card right away. It was really handled very well - that was Wachovia.

 

[ZeroMyHero]

This happened to me a few years back. My bank's fraud department contacted me and asked me if I had been out of the country lately. Apparently, someone in Canada spent about $300 in a Blockbuster there using my debit card info. My bank credited my account within a few days and got me a new card and number right away. Now I'm very careful about what I throw away and shred all my debit card receipts.

 

[marie1203]

It was a few days for us. This happen to us a few years back.

 

[Inurdrems9]

This happened to me on Monday I was looking online and noticed some charges that I did not make. I called the bank they canecelled my visa check card and are sending me a new one. I had to go into the bank and fill out some forms to get the money back they told me it would be no longer than ten business days. They have to investigate (check security cameras where it was used). The bank told me it happens ALOT!!

 

[seashoreCM]

Do you have credit cards?

I would switch to using credit cards and pay off the balance(s) in full every month.

Although some experts say you should not have your credit card issued by the same bank where your checking account is, if it is the same bank then you can pay your credit card bill using an ATM.

 

[cglaura]

Also, it might be a good idea to cancel overdraft protection on the debit card. That way, if you don't have enough, it gets denied. This will also save you outrageous fees if you keep your balance close and make an error in your checkbook balancing. My friend got a $27 o/d fee for a $2.50 Wawa coffee purchase b/c she forgot to write down one of her withdraws. I'd rather just have them tell me sorry, no coffee for you!

I keep very little in my account, just enough for the bills that need paying. The rest goes into an unattached savings account. That way if it is comprimised, there isn't much they could get.

 

[JesB]

This happened to me last year. Someone went on a shopping spree in California. It took Regions Bank about three days to return the money to my account and waive all the OD charges.

 

[Inurdrems9]

Do you have credit cards?

I would switch to using credit cards and pay off the balance(s) in full every month.

Although some experts say you should not have your credit card issued by the same bank where your checking account is, if it is the same bank then you can pay your credit card bill using an ATM.

I was told the same thing could happen with a Credit Card. Now I am scared to use any of them!!

 

[Swimalie]

Do you have credit cards?

I would switch to using credit cards and pay off the balance(s) in full every month.

Although some experts say you should not have your credit card issued by the same bank where your checking account is, if it is the same bank then you can pay your credit card bill using an ATM.

I agree! Get a major credit card, not one issued by a bank and pay it off each month (not automatic payment, either). If someone charged my credit card fraudulently, it doesn't "take" money that I have to get back. Where as with a debit card, you are out that money until your bank decides to give it back to you.

 

[Mary2e]

Banks just looooove those debit cards. They make a lot of $$$$ in fees from them.

Every single expert says that unless you have no credit, you shouldn't use debit cards because it's you're money they're taking out and you have to then get it back.

Every time my bank tries to send me one, which is now about once a year, I have to call and tell them I don't want it and to leave my ATM card alone.

 

[maslex]

OP here....

The bank has reversed the overdraft fee, so I did get that back right away. As for the $457, I'm sure that'll take a while. I was thinking that when I get the new debit card, that I wouldn't activate it. I really don't need it at all. I have two bills that I pay out of my checkbook...one I pay by check and the other I pay online through my checkbook, not debit card. I pay cash for groceries and for gas for my SUV. The only time I use the debit card is if I get take out for dinner, stop by the store for one or two things (and then end up spending atleast $50 each time LOL) and then if I go through the drive-thru or the quick stop by Walmart. So I'm thinking that if I don't activate it, I could probably save myself some money. LOL

 

[Swimalie]

OP here....

The bank has reversed the overdraft fee, so I did get that back right away. As for the $457, I'm sure that'll take a while. I was thinking that when I get the new debit card, that I wouldn't activate it. I really don't need it at all. I have two bills that I pay out of my checkbook...one I pay by check and the other I pay online through my checkbook, not debit card. I pay cash for groceries and for gas for my SUV. The only time I use the debit card is if I get take out for dinner, stop by the store for one or two things (and then end up spending atleast $50 each time LOL) and then if I go through the drive-thru or the quick stop by Walmart. So I'm thinking that if I don't activate it, I could probably save myself some money. LOL

Sounds like a good plan.

 

[mum4jenn]

I had this happen to me a few months ago and it took a month for the bank to credit me and then I still had to go back in and fill out more paperwork stating that I did not know this person and that I had not been to California. This was a purchase made through Amazon Payments.

 

[njmom47]

I work for a huge local company and deal with fraudulent transactions
on a daily basis. Although I don't deal with fraudulent transactions on
debit cards (they are handled through the customer's bank), I use my debit
card for everything.
I do online banking and look at my banking every single day.
I have canceled all my credit cards because I am on
debt management but I'm actually fine with it because the amount
of fraud inquiries that comes across my desk scares me immensely!!

 

[maslex]

I had this happen to me a few months ago and it took a month for the bank to credit me and then I still had to go back in and fill out more paperwork stating that I did not know this person and that I had not been to California. This was a purchase made through Amazon Payments.

Well, this one got me thinking. Two weeks before I left for vacation I purchased a camera through Amazon. This was my first purchase from Amazon (my DH has made a few and said it was trustworthy) Now, I don't want to purchase anything online again. AARRGGHH!!! So frustrating!!!

 

[CowboyCO]

Most banks policy is to issue a credit for the claimed amount while it is under investigation. The credit was issued within about three days of filing. When it happened to us, it took about six weeks for them to complete the investigation and finalize the credit.