identity theft

[Brenda]

Woke up this morning to look a my acct balance and there was 2.96 in there. I'm on the verge of a nervous breakdown. All the transactions were done online and used with Eric ccd number!
There multiple in the carribean, ATL airport, airline tix, clothing bought online. All done within 2-3 days days! Did this not send a red flag.
A few things were done here and there throughout the past 6 months and never really noticed. MY GOD! I am shaking!
Eric and I have to go into the branch and cancel cards, get temporary and file a dispute type thing. I couldn't even focus on what the lady was saying to me from the bank.

Be careful what you purchase online, what you view, and who gets a copy of your debit credit card. There were a few instances where double, even triple charges were done at caribou and arbys in ATL ere done.

[roz]

Oh Brenda! Make the process part of your therapy--you are doing something proactive to fix it.

For the future--there is no limit of liability on a debit card. Try to use a credit card instead and pay it off each month.

[CLErocks]

Oh no! I hope you guys get it all worked out! Stay strong!

[Brenda]

Originally Posted by roz

Oh Brenda! Make the process part of your therapy--you are doing something proactive to fix it.

For the future--there is no limit of liability on a debit card. Try to use a credit card instead and pay it off each month.

So, what exactly does this mean, No liability to a debit card? We won't see this money again?

[Brenda]

So, I just got a letter from the bank. What timing! It says:

Our records indicate that an excessive number of restricted transactions were made last and this month on your acct referenced above.
Federal reulations limit certain types of transactions and require that we contact you.

It goes on and on.
Well, what does "resticted" mean? What the hell is going on?

I swear I should just keep cash under the matress!

[roz]

Well, for example, if you have a money market account, you are limited to six transactions per month. For example, if you had a set up where it automatically drew from the money market into the checking to cover overdrafts, you are limited to six per month.

Federal regulations limit the number of transfers you may make from
a savings or Money Market account. No more than six transfers can
be made during each thirty (30)-day statement cycle by preauthorized
transfer, automatic transfer, or telephone transfer
(including data transmission by computer or other electronic device).
Of these six (6) transfers, no more than three (3) may be by check,
draft, or debit card. By law, if the above limits are exceeded three (3)
times in a twelve (12)-month period, the account will be changed to a
different type of account. For purposes of the transaction limitation,
we count Money Market checks as of the date we post them to your
account, not as of the date you write them.
You may make an unlimited number of withdrawals from your
account in person, by ATM, or by mail or messenger. Some account
types may have fees for withdrawals that exceed the set number
specified in this brochure.

[roz]

Originally Posted by Brenda

So, what exactly does this mean, No liability to a debit card? We won't see this money again?

From some information I had:

While the two cards might act and look alike, the levels of consumer protection that each type of card provides can be different. Under federal law, if someone steals your credit card you're only responsible to pay the first $50 of unauthorized charges. However, if you notify the credit card issuer before a thief is able to make any charges you may be free from all liability. If the credit card is not physically present when an unauthorized or fraudulent purchase is made, such as over the internet, you’re also free from liability for those charges. Mastercard and Visa offer zero-liability protection where you won’t pay any charges if someone uses your credit card to make an unauthorized purchase.

The protection offered to debit card fraud is similar but with a few exceptions. For example, your liability under federal law is limited to $50, the same as for a credit card, but only if you notify the issuer within two business days of discovering the card's loss or theft. Your liability for debit card fraud can jump up to $500 if you don’t report the loss or theft within two business days.

If you are the type of person that gives a passing glance to your monthly bank statement, you could be totally liable for any fraudulent debit card charges if you wait 60 days or more from the time your statement is mailed.

Visa and MasterCard zero-liability protection applies to your debit card, but only for transactions that do not involve the use of your PIN (personal identification number). Additional protection against fraudulent use of your credit or debit cards may be available through your homeowner’s or renter’s insurance. Check your policy or with your agent for more information about your coverage.

[Hokuspocus]

I'm so sorry this happened to you! I hope you get it worked out...

[Kristie]

oh my goodness..this is just awful!!! Sounds like the bank needs to investigate the locations in the ATL airport where the multiple transactions were made (could be that employees used the card to order meals for themselves?). I've heard of ATL having problems like that. I know the hotels in the area have problems like that as well not to mention their problems with room theft.

there must be some type of withdrawl restriction on your account. like you can only withdrawl money oh so often or something.

Work with the bank. you might not see the money again since it's a debit card but hopefully they can find the individual(s) that did the transaction and somehow get that cash back to you.

from now on, start checking your accounts on a daily or even multi-daily basis... it's what i do to keep money sane as i've had one occurrence of an airline ticket purchased but luckily, it was on a credit card and it was easily proved that i didn't purchase it since it was outside the states during a time i was not outside the states.

[Brenda]

Well, cards have been cancelled and new ones issued. Our bank was pretty compasionate about the whole thing. They are working with us in trying to recover the monies. Luckily with most of the items purchased the bank can dispute the charges with the stores and companies and see what happens. We should hear something in a couple of days. yeah right, that soon?
What's bad about the whole checking the acct is that Eric buys so many things overseas for his porsche that half the time I don't know about it. hmmph! I told him that I really need to know what he's doing and to make sure, double chk and triple chk it's on a secure sight.
Also, I did not know that with Frostwire, kind of like Itunes, the shared files can give people access to a lot of things on my own computer. I have to be reminded all the time.

This is such a scary thing and can happen in a blink of an eye!