Debit Card Number Stolen

[myhoneyhoney]

Aaarrgghhh!!! How my number was stolen, I have no idea. Some MF'ers used it to buy $$$$ in Sacramento. My bank called me and closed my card. I guess I won't be using debit cards anymore. Any tips on how to avoid this? Will using a credit card be safer?

 

[once_upon]

We generally use credit card, because it limits our liability should the number be stolen.

 

[Vash01]

One of my banks had advised me to use credit card instead of debit, but two other banks were very comfortable with me using debit cards. It means they had a lot of confidence in whatever systems they had in place. I do like the convenience of using debit card, though there is more risk if someone steals the number. I use debit cards routinely. I think one has to be alert, like checking the transactions frequently.

 

[kittyjake5]

There are so many ways for hackers to access our credit and debit cards. Last winter I got a text alert
from my bank at 2:00 in the morning that a large charge was made by phone to my
credit card. I followed the link and someone charged 2600.00 to a ski resort in Montana. I immediately
replied to the text and said I did not make the charge. The bank immediately cancelled my card
and issued me a new card. I do have a debit card but have never had any problems with the card.

As Vash said in her post you do have to check your accounts frequently for any suspicious activity.
Most banks have alert features with their debit and credit cards.

 

[smurfy]

Credit cards - you can dispute a charge before you pay.
Debit cards - money can be gone and you may not be able to get it back.

Even with no fraud - friend used debit card for a hotel reservation 'hold' - and money was withdrawn from account way before trip.

Both have advantages. what you are comfortable with.
And to repeat, one should be monitoring all their banking/card activity on a regular basis.
If something happens, the sooner you report it the better, and stop the damage.

 

[myhoneyhoney]

Ugh, it's frustrating. The fraud activity was done today and the bank called me right away. I check the accounts at least once or twice a week. I feel like I need to check it daily now.

 

[manhn]

That happened to me several years ago. My bank called and reimbursed me of whatever amount was stolen. I now use my credit card for everything and when i need cash, I go to the bank. I avoid the atm.

 

[chantilly]

Not sure I'm right here. But in Canada you need a code to use your CC. Although the debit tap/credit card tap has its challenges.
Think a customer should be able to bipass it if desired.

 

[FiveRinger]

A few months ago my credit union called me to inform me about fraud on my debit card. I am in STL and someone in Switzerland used my card number. Honestly, I don't think debit/credit card makes a difference. Find out what your financial institution's policies are about refunding. My money was back in my account that day and available to me the following day.

 

[MacMadame]

I've never had my debit card # stolen. But my credit card numbers get stolen all the time*. In fact, I got an email just yesterday about a fraudulent charge! Very annoying because I wanted to use that card today.

So far I've never been out money. The cc company takes the charge off and issues me a new card.

*well, every couple of years anyway

 

[myhoneyhoney]

I know it's never a good time to have your card stolen but man, I needed to pick up son #2's car tomorrow while hubby's at work. Now I can't pay for it (a $$$ transmission rebuild) and have to wait for hubby to pay for it Thursday. Ugh.

 

[Jenny]

Not surprised that banks recommend using a credit card, because of course they are hoping you don't pay it off every month and they can make $$$$ on the interest. For debit cards they only get the transaction fees, and potentially an annual fee from you, so why would they recommend that?

I've had a credit card number stolen twice, never my debit card numbers - which I use nearly all the time because then the transaction is paid and I don't have to worry about remembering to pay the credit card before the interest kicks in. I use credit cards mostly for online shopping and travel.

Agree with those who say best thing is to keep an eye on your balances and jump on it immediately if there's anything weird. If you're worried, ask in advance what your financial institutions policies are, how they monitor for unusual activity, and who absorbs it when your card number is stolen. In my experience, larger institutions are quite good about it.

 

[BittyBug]

Honestly, I don't think debit/credit card makes a difference.

You are lukcy that your bank responded so quickly, but there are very real liability differences between debit and credit cards with credit cards offering far more protection. https://www.nerdwallet.com/blog/credit-cards/credit-card-vs-debit-card-safer-online-purchases/

I've had a credit card number stolen twice, never my debit card numbers - which I use nearly all the time because then the transaction is paid and I don't have to worry about remembering to pay the credit card before the interest kicks in. I use credit cards mostly for online shopping and travel.

I understand that not everyone is in the position to do so, but if someone has the money to pay for something via debit card, they should in theory also have the money to pay off a charge via a credit card. And assuming someone has the money to fully pay off the balance, it's easy enough to set up an automatic bill payment to pay off the balance every month before any interest kicks in.

 

[NinjaTurtles]

There is not much you can do to avoid it. Credit card skimmers are commonly found on ATMs and gas pumps. Online shopping can also be a culprit. I don't know anyone that goes through the hassle of only withdrawing cash from inside a bank and then paying for gas and most goods with cash...it's too burdensome.

ITA with @BittyBug regarding the liability issues. Most large banking institutions are good about detection and reimbursement, but not as good as what you get with a credit card. This past spring I noticed a series of smallish fraudulent charges ($20-$200 range) made in a two day period on my checking account. M&T automatically flagged and denied/refunded some of the charges, but when I pointed out that they missed one, they said they couldn't confirm it was fraudulent and refused to refund. Despite it being during the breach period and that I've never purchase something from that store or that city. Other times they've refunded everything with no hassle. It's a mixed bag.

 

[Tavi]

Last week I used my debit card in a standalone ATM located in a drugstore. I almost always withdraw money from bank or credit union ATMs, but I was in a hurry and made an exception just this once. Both my card number and pin were stolen. The thieves apparently made a new card with my number and then used it to make several large withdrawals from ATMs managed by the same company (Cardtronics). They cleaned out my checking account ($1440). What got me was that the last withdrawal was for $40 (the others were $200-400) - they clearly wanted ALL my money. My credit union's fraud division called me. I completed an affidavit and am waiting for them to recredit my account. I'm lucky that my pay had not yet been deposited at that point, but jeez.

 

[rfisher]

I've had both credit and debit cards stolen. BOA notifies me immediately and I've never had any issue with them reimbursing my account. I've even had them reissue cards if they think there was a possibility of it being stolen. I get an email if I use my credit or debit card for any online purchase so I can verify if it is fraudulent. With today's digital technology, I think it's inevitable. You'll never know where the theft occurred. It could have been your favorite restaurant or even at the gas station if someone put one of the cloning devises on a pump. The key is your bank and paying attention to any alerts.

 

[El Rey]

Is this a debit card or a Visa/MasterCard debit card? I rarely use my credit cards and mostly used my bank issued Visa debit card. It's been compromised a couple times, but my actual card has never been stolen. Both Chase and Capital One banks have never given me any issues with giving me back an almost immediate temporary credit of the unauthorized charges, while they investigated and sent me a new card right away. The process, other than having to update all my automatic bill pays, has always been painless.

 

[Skate Talker]

I've had a credit card number stolen twice, never my debit card numbers - which I use nearly all the time because then the transaction is paid and I don't have to worry about remembering to pay the credit card before the interest kicks in. I use credit cards mostly for online shopping and travel.

I understand that not everyone is in the position to do so, but if someone has the money to pay for something via debit card, they should in theory also have the money to pay off a charge via a credit card. And assuming someone has the money to fully pay off the balance, it's easy enough to set up an automatic bill payment to pay off the balance every month before any interest kicks in.

Agreed, BittyBug. I set up auto credit card payment long ago and find it ultra convenient, plus I have a cash-back credit card with annual fee waived so I actually make some money using my credit card - every little bit helps. (I had a choice of cash-back or travel rewards but I am all about show-me-the-money.) Also using the credit card allows me to keep my funds in an interest bearing account, rather than a straight checking account until after I make any major purchases since the money doesn't have to be in the checking account until the credit card bill is due. My monthly credit card statement is available a full 2 weeks before the payment is deducted from my bank account so lots of time to review and contact the bank if I should find any issues. The statement gives me a convenient monthly record of the vast majority of my spending with transaction details that are much easier to follow than my bank account details. Of course in many ways it's just a matter of personal preferences as both methods can work quite well. I do have one friend who can't keep herself from impulse buying if she has a credit card so debit works much better for her, and I also believe that in some cultures it is not acceptable to have any debts so a regular credit card is out of the question but for me it works really well.

As far as which is better to use to restrict losses, the bank allows me to set transaction, daily, and weekly maximums on my debit card. Since I don't use it other than to occasionally withdraw petty cash I have the limits set fairly low. Potentially my loss risk is greater with my credit card limit but I know my bank does monitor for any large or unusual charges. I have had calls from them to check on my transactions, fortunately never fraudulent ones. Actually I don't discuss it with them until I call back using the contact number on the back of the credit card just to make sure I am actually speaking to my bank and won't inadvertently give up any key information to a scammer.

 

[TheGirlCanSkate]

My bank fully covers either so I don't stress too much. I do make sure that I only use sites that seem legit - Amazon for example. If staff needs to take my card out of view, I will use cash instead (restaurants for example). I use my debit for almost everything (it can also act as a credit card). My bank has a way online for me to shut a card down or put it on hold 24/7 too so if I suspect something or misplace it, it can't be used unless I reactivate it or have a new one sent. My bank can text me any time it is used which is nice too. I use auto pay for a lot of things and rarely use a check either.

 

[myhoneyhoney]

Is this a debit card or a Visa/MasterCard debit card?

It's a Visa debit card. I must have used a machine with a skimmer or whatever is used to make a copy of it. Thankfully Chase notified me quickly, so I called (I only call the number on the back of my card) and they closed my card quick. The money was back in my account this morning.

Now I'm waiting for my new card and get to update all of my auto pay s.

 

[Aceon6]

I, too, have a very low limit on cash withdrawals from my account and have set a maximum # of ATM uses per day. When I'm traveling, I just call the bank and have them change the limits for the duration of my trip.