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just became a debit card fraud victim
Old 10-27-2010, 01:28 PM   #1
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just became a debit card fraud victim

logged into my checking acct today to do some online payment, lo and behold, 3 atm purchases at a local walmart totaling over $2500 plus a $500 atm w/d all from this morning !!!, WTF !!!

called bank immediately, they cancelled my card and said that they can't do a stop payment on them. the charges will either disappear meaning everything have been denied or they will go thru and I'll have to file a claim with the bank and they'll request money from the merchants.

so my question is if the charges do go thru how likely am I to get the money back ? what are my options? thanks.
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Old 10-27-2010, 01:50 PM   #2
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Sorry to hear. I have no idea how likely you are to get any money back.

Debit cards work differently from credit cards; there is more cardholder protection with credit cards. My debit card does not leave the house unless I am going to the ATM at the bank (actually a credit union)-- don't use it online either.

Best of luck. Let us know how it turns out.
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Old 10-27-2010, 01:54 PM   #3
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Any idea how they got hold of your debit card # and pin?

I'm assuming you are still in possession of the debit card.
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Old 10-27-2010, 02:03 PM   #4
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It has been over a decade since a similar thing happened to me, back in 2000. Someone ordered a top of the line Dell laptop using my debit card, and had it shipped to San Jose. This was the year before I started checking my account balances online, so I only found out about it because Dell sent me a confirmation by mail.

My bank immediately cancelled the card and gave me a new one on the spot. They refunded every cent of the money to my checking account within a week. They said the refund was temporary, pending the outcome of the investigation. About three months later they told me it was a permanent refund. Basically, it was a non-problem since I had an emergency fund to last me through that first week.

Sorry to hear that this happened to you!
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Old 10-27-2010, 02:08 PM   #5
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Originally Posted by dex View Post
Any idea how they got hold of your debit card # and pin?

I'm assuming you are still in possession of the debit card.
Not really sure. I used it 2 days ago at my regular gas station, I did check for card reader abnormality and pinhole camera around the reader before swiping it, everything seemed fine. Another time I used it was at a local grocery store several days ago because I had to get cash back (something I rarely do.)
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Old 10-27-2010, 02:11 PM   #6
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There were a couple of Chicago-area Aldi stores (which take only cash or debit cards, no credit cards) that were stealing PIN numbers when they were entered. The fraudulent debits were all made in California. I wonder if that's what happened here.
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Old 10-27-2010, 02:16 PM   #7
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Almost exactly the same situation happened to me. And yes, used at Walmart for about $5,000. It was taken off my account but the VISA folks said they would not likely even pursue the crook, too costly.

Something must be possible to prevent this crap. Good luck with your situation.
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Old 10-27-2010, 02:19 PM   #8
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And another reason that I do not have a debit card... only an ATM card... you have to ask to get this instead of a debit...

One reason that Capital One did not become my bank... they would ONLY give me a debit card...



Sorry to hear about the problem... hope it all gets fixed in the end...
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Old 10-27-2010, 02:32 PM   #9
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Almost exactly the same situation happened to me. And yes, used at Walmart for about $5,000. It was taken off my account but the VISA folks said they would not likely even pursue the crook, too costly.

Something must be possible to prevent this crap. Good luck with your situation.
That's the unfortunate thing. The card issuers say that it would cost more to pursue and prosecute the fraud than it would be to just eat the cost of it. Not exactly a way to discourage it.
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Old 10-27-2010, 02:34 PM   #10
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Not really sure. I used it 2 days ago at my regular gas station, I did check for card reader abnormality and pinhole camera around the reader before swiping it, everything seemed fine. Another time I used it was at a local grocery store several days ago because I had to get cash back (something I rarely do.)
You may have to go back in time more - it does take time to make up the card and the thieves might have had a long line of other cards until they got to yours.

We need chip and pin in this country.
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Old 10-27-2010, 03:10 PM   #11
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That's the unfortunate thing. The card issuers say that it would cost more to pursue and prosecute the fraud than it would be to just eat the cost of it. Not exactly a way to discourage it.
Heheh, I know you meant to say..."pass the cost along", right?
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Old 10-27-2010, 03:54 PM   #12
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We need chip and pin in this country.
Unfortunately that has big fraud issues also.

Here is a report on one type of card copying and foiling PIN readers.

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Old 10-27-2010, 04:55 PM   #13
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Unfortunately that has big fraud issues also.

Here is a report on one type of card copying and foiling PIN readers.
Thanks. I do the following:
ATM debit card - USA - for cash withdrawals only at banks - I don't use it for purchases.

Credit card - In USA for purchases over $25 - outside usa - only for large purchases - e.g. hotel rooms; otherwise cash from ATM.

We all pay for the fraud and the people doing it should be tracked down. If they used a gun to steal there would be police all over the place.
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Old 10-27-2010, 06:32 PM   #14
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I think most banks will cover the losses. But, if I understand the contracts correctly, you are not protected to the same extent you are with a CC so they might not. I never understand why people prefer to use a debit card rather than just pay off the balance on a CC. The later certanly seems safer.
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Old 10-27-2010, 06:43 PM   #15
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First thing: call your local police department and report the crime. They will record it and give you a case number. You'll need that when you go back to the bank to make a claim.

Second thing: if your debit card has a Visa logo on it, you are likely to recover all of the cash -- after you file a claim.

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Old 10-27-2010, 07:04 PM   #16
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I got burnt about 5 months back. I moved from Wisconsin back to Texas about a year ago, but I kept a credit union account open in Wisconsin. Don't know why, I just did. I drew the account down to about $5 and was planning to close it. Then I got a letter from the CU telling me my account was $500 in the hole! Since I only had $5 in the account, I thought that was kind of strange lol! Not having time to go into all of the details right now, I'll just say the the bank ended up eating the $500 and all of the overdrawn fees were reversed. Not fair to the bank (credit union) but definitely not fair to me either. Some punk-ass had somehow hijackd my card number & used it to buy some Sony game credits or something like that online. The vendor refused to write it off, even though they had not actually lost any merchandise, just credit. So...the bank ate the loss, luckily for me. So......that's my story.
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Old 10-27-2010, 07:04 PM   #17
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Here is a summary of the law, which is governed by the Electronic Fund Transfer Act:

Credit, ATM and Debit Cards: What to do if They're Lost or Stolen
ATM or Debit Card Loss or Fraudulent Transfers (EFTA). Your liability under 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.
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Old 10-28-2010, 01:15 AM   #18
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And another reason that I do not have a debit card... only an ATM card... you have to ask to get this instead of a debit...

One reason that Capital One did not become my bank... they would ONLY give me a debit card...



Sorry to hear about the problem... hope it all gets fixed in the end...
I use my ATM/Debit Card maybe once a year for purchases at my local supermarket. The rest of the time I use it to withdraw cash at an ATM.

I see it as every time I use the plastic (I use my CC 5-10 times per year) I risk something bad happening like this. The plastic is my safety net, not Plan A for buying stuff.
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Old 10-28-2010, 10:35 AM   #19
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Unfortunately that has big fraud issues also.

Here is a report on one type of card copying and foiling PIN readers.

Highly skilled people. This all happened on the cardholder side of the transaction where they have access to only a tiny piece of the hardware/software in the transaction.

Just imagine what they could be capable of if they were inside a merchant, processor, bank, or Network Operations Center.

Edit to add: In this context, inside does not necessarily mean physical presence.
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SMS
Old 10-28-2010, 12:10 PM   #20
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SMS

Where I am living now I get a SMS for every transaction above certain limit, for example before grocery is even bagged I get the SMS. Incoming SMSs are free here. I guess this should really help in most cases.
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