My experience with fraud on a debit, not credit, card

[Lintasare]

This morning I was checking my account online and saw three transactions in British Columbia. Two were at a gas station and one at a state run liquor store. Called my bank right away and the fraud department immediately shut down my car and is working to refund my money. Since it's a weekend I should have it back next week.

Looks like someone cloned my number and made a card since all three transactions were swiped and my actual card has never ever left my possession.

And no this will not deter me from having or using a debit card.

 

[niffer5150]

they also said that if you are going to travel to call them.

this should be bolded. my husband went to south Africa on business and forgot to tell he bank. his card was shut off as soon as he tried to buy a snack. he couldn't rent a phone, he couldn't get a cab to the hotel, he couldn't call to tell bofa his card wasn't stolen. I got sent a desperate email from a starving, near penniless husband because thankfully, he was somewhere with wifi. small thing to forget, big consequences.

 

[Cruise]

This is exactly why I won't have a debit card.

If I see a bogus charge on my credit card, I call the CC company and dispute the charge. They put an inquiry on it and I'm under no obligation to even pay that amount with my next statement.

With a debit card, that money is out of your account and your bank and decide when they'll get it back in there.

My local credit union ONLY offers an ATM card that doubles as a debit card. No option for just a straight up ATM card without a Visa logo. So, nope, don't use them for cash transactions.

By the way, anyone looking for a bank that does offer just an ATM card with no debit associated with it, Wells Fargo has them.

 

[tar heel]

That has not been my experience at all. My card was stolen a couple years ago, and Wachovia (now Wells Fargo) had the money back in my account before I was off the phone with the fraud person. More recently, a pizza place computed our $4 tip as a $40 tip, and Wells Fargo gave us an immediate provisional credit that turned into a permanent one in a few weeks.

 

[seashoreCM]

someone stole my debit card online and charged up everything plus some in my account. my credit union refused to give me even provisional credit back until i could proved i filed a police report. the police were un happy with me because they don't have time for crimes that didn't take place in their area. it took 2 weeks to get my money back and that was only because i called visa and they were not happy and a rep told me that anything with their logo on it has to return stolen funds with in 3 days because that's the contract they make with the entity giving out the card. i had to fight to get the over draft charges returned as well. if i hadn't called visa, i don't know how long it would have been before i got my money back. the credit union branch manager was "confused and sad to see me go" when i closed my account

Did you tell him point blank that he did not credit your account back within two business days, and then ask questions?

Overdraft charges and other checks bouncing are yet other reasons to never* use debit cards at all and to have and use credit cards instead. By the way, anyone who does not have the discipline to avoid finance charges on credit cards is very likely to run into overdraft charges while using a debit card even in the absence of fraud.

Disney hints: http://www.cockam.com/disney.htm

*Well, hardly ever! (With apologies to W.S. Gilbert and Arthur Sullivan)

 

[bumbershoot]

OP I hope you get your oney back soon!

I have been very pleased with how chase (even though i still feel they stole Washington Mutual) has dealt with fraud on our debits...they have caught it each time, and have been the ones to call us. The charges were blocked, no need to put money back in. One wasn't even fraud, but a charge that shouldn't have happened by DH's company while in training, and they caught it. One time it was us, but it was a hinky thing...got authorized to pump gas, realized that we had parked wrong and hose wouldn't reach, took too long to turn around, authorization had gone stale, swiped it again, denied. Used a different payment method, got it worked out, it was fine. I've been very pleased.

Nowadays we have and use CCs, but back then we didn't have a choice.


Oh, and chase and our CU have never needed us to call about travel. DH travels all over, including South Africa, and they haven't caused a single problem. It's very nice.

 

[dfchelbay]

I really thought in a fraud case they would operate just about the same. It has happened on credit cards and I call. They issue a new card and the money is credited back immediately.

Last week I saw a series of 3 foreign transactions for travel companies. I called the bank as soon as they opened. Sounded good except for the 3 to 5 day hold on my money. Ok. 3-5. That came and went and no provisional credit. Now they give me a day, 11 days out that I will be credited my money on a provisional basis.

This experience very much makes me want to use my credit card and pay my usually things off immediately via online banking that day.

We refuse debit cards. For this very reason. Not only would it hold your funds, but think of all the stuff that is automatically paid from your account monthly. If you don't know about the fraud right away, and your legit creditors like life insurance, cable, mortgage, etc all get bounced, like you're some kind of dead beat. No thanks

 

[ScottOKW2K]

We refuse debit cards. For this very reason. Not only would it hold your funds, but think of all the stuff that is automatically paid from your account monthly. If you don't know about the fraud right away, and your legit creditors like life insurance, cable, mortgage, etc all get bounced, like you're some kind of dead beat. No thanks

I agree, and when those creditors get their payments bounced you will be charged fees by those same creditors. Your back/CC provider is not responsible for those charges, which is an important point that many who espouse the usage if debit cards do not bring out in their conversations. It is always stated that debit cards with the Visa logo have the same protections as credit cards, but this is only for the fraudulent charges themselves ! Any fees or charges as a result of fraudulent activity on a debit card, or how quickly any fraudulent activity is resolved is up to the BANK that issued the debit card. As the OP has found out this can take a while.

 

[sookie]

it would take a lot to pry my debit card from cold, stiff fingers - I'd have to be near dead.... lol