debit card froze by bank for fraud
6 years ago
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Fraud alert
Comments (10)I logged into my Citicard account online and it does show the charge I was told about and then a credit for the same amount. There are three additional charges on 10/30, 10/31, and 11/01 for amounts of $6.95, $1.00, and $1.95. These were all online purchases, and I'm sure these were made just to check that is was a "working" account. It also shows that the account has been closed. So the call was legitimate. I will call the number on the back of the card and ask that those charges also be removed. I also checked my Chase account, and there is nothing suspicious there. I never use the Chase card for online purchases....See MoreDebit Card - Tracking Use
Comments (23)I'm appropriately wary of infections and phishing attempts, and am very computer-aware, have a hardware firewall on my broadband service in addition to a software firewall, antivirus, antispamware, and I don't use IE for browsing. For online purchases I use a CitiBank card that carries a virtual account number feature. A cardnumber was stolen once at an online site, but it was a virtual number so the transaction for it had already been run and the perps couldn't get any success with the number. Quoted from http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm: ATM or Debit Card Loss or Fraudulent Transfers (EFTA). Your liability under [U.S.] federal law for unauthorized use of your ATM or debit card depends on how quickly you report the loss. If you report an ATM or debit card missing before it's used without your permission, the EFTA says the card issuer cannot hold you responsible for any unauthorized transfers. If unauthorized use occurs before you report it, your liability under federal law depends on how quickly you report the loss. For example, if you report the loss within two business days after you realize your card is missing, you will not be responsible for more than $50 for unauthorized use. However, if you don't report the loss within two business days after you discover the loss, you could lose up to $500 because of an unauthorized transfer. You also risk unlimited loss if you fail to report an unauthorized transfer within 60 days after your bank statement containing unauthorized use is mailed to you. That means you could lose all the money in your bank account and the unused portion of your line of credit established for overdrafts. However, for unauthorized transfers involving only your debit card number (not the loss of the card), you are liable only for transfers that occur after 60 days following the mailing of your bank statement containing the unauthorized use and before you report the loss. If unauthorized transfers show up on your bank statement, report them to the card issuer as quickly as possible. Once you've reported the loss of your ATM or debit card, you cannot be held liable for additional unauthorized transfers that occur after that time....See Moreabout those combo atm/debit cards...did you know...
Comments (41)zone_8grandma wrote: dreamgarden, I wasn't singleing out the OP when I said that. I've gone back and re-read all of the posts and a number of them simply display a lack of knowledge about debit cards. I understand. My point was that the OP's bank is making it difficult for the OP to get an ATM card. She specifically stated that she did NOT want a debit card and that is what they gave her anyway. I stated the reasons why they might do this. Frankly, I would prefer to lose what cash I have in my wallet then lose a debit card. This is why. "Consumers should understand, however, that while their credit card fraud liability is low by law, their debit card liability can be much higher, according to law, despite the bank's revocable promises of zero liability. Plus, it is your own money, stolen from your own checking account, that you're fighting with the bank to get back. Our best advice-- never use debit cards-- either online or in person, at big merchants or small. While many of these breaches may occur at small merchants, just one breach at a big merchant, TJX Marshalls, resulted in the loss of 45 million debit and credit card numbers. It isn't worth the risk." Posted by Ed Mierzwinski/U.S. PIRG at September 22, 2007 Links that may be useful: ATM/Debit Cards: What consumers need to know about greater fraud risk, card blocking, and debit card fees www.pirg.org/consumer/banks/debit/debitcards1.htm Electronic Fund Transfers www.federalreserve.gov/pubs/consumerhdbk/electronic.htm#loss...See MoreFrozen Credit Card in Florida
Comments (20)Oakley: Was it a debit card? I wonder if debit cards have tighter rules. But then again, my ATM won't dispense more than a few hundred at a time. I'm sure the bank would say they don't want big spenders emptying them out and keeping other patrons from getting money. BLFenton: I get your point about building a credit record. But people can -- and do -- overdraft their accounts. Some people are responsible using them; others try to game the system. Banks have built-in mechanisms that allow them to permit the overdraft and then charge the user high fees to cover it. Some users don't even notice the charge part in their card agreement. (How can they not know they don't have enough funds to cover a purchase? One situation: similar to writing a check and thinking the bank has deposited your paycheck already when really it's on hold and hasn't 100% cleared.) Bank of America, not too long ago, settled a case about debit-card overdraft fees for $400million. Card issuers need to make money somehow on these debit cards, which are typically given to you for free with your bank account. Credit-card issuers, at least, can charge an annual fee. That's why Bank of America tried to start that $5 debit card fee....See More- 6 years ago
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