tag:blogger.com,1999:blog-6525334973892331389.post7373866723585506362..comments2023-06-12T11:50:19.679-04:00Comments on not the jet set: Thieves, Damn ThievesMichaelhttp://www.blogger.com/profile/05449100145223553747noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6525334973892331389.post-90525483097115907972008-08-11T12:45:00.000-04:002008-08-11T12:45:00.000-04:00Funny-Thanks for chiming in. Credit cards do have...Funny-<BR/>Thanks for chiming in. <BR/><BR/>Credit cards do have some federal law that folks like to beat their chests about when it comes to fraud. That only helps when the issuers agrees that it is, in fact, fraud. The risk is the same - debit or credit. <BR/><BR/>Yes, debit card protections are subject to the issuing bank's policies and procedures (just as credit cards are), but they are not limited to that. Beyond the bank, you need not look to Washington, but to the card backers - likely Visa or MC as they have a Microsoftian share of the debit market. Both have zero-liability policies for debit that mirror that of credit. <BR/><BR/>Besides, are you really going to trust that these credit card issuers (Chase, Citi, et al)are going to abide by some federal law, when they break the Federal Fair Debt Collection Practices Act on a daily basis? Not I.<BR/><BR/>The real point is that debit card fraud protection is not the wild wild west as many credit-mongers like to have everyone believe. As shown here, even the First Bank of Podunk has security measures that seemingly trumps all.<BR/><BR/>Thanks again.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6525334973892331389.post-35055190668249915552008-08-11T10:43:00.000-04:002008-08-11T10:43:00.000-04:00I've had fraudulent purchases appear on credit car...I've had fraudulent purchases appear on credit cards and had no problem getting the charges erased and a new card number issued. This has happened three times -- once it was an inside job, when a bank employee lifted my number and used it under the name I signed to a letter to the company, which is different from the name I use to sign credit-card slips and legal documents.<BR/><BR/>From what I'm told, if and only if you or your bank spots the fraud against a debit card promptly, you may be able to get the charge erased. However, banks are not obligated to do that in the case of a debit card. You do run the risk of losing money if the theft is not recognized in time or if you can't prove you didn't make the purchases. That's not true of credit card fraud--lenders are legally required to reverse fraudulent charges against a credit card.<BR/><BR/>One reason I don't no longer have automatic payments charged against a credit card (something newspaper circulation managers adore) is that when you must have the credit card number changed, you have to get in touch with all the merchants who have this arrangement and give them the new number. That really <I>is</I> a hassle!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6525334973892331389.post-37918825409554949232008-08-05T11:41:00.000-04:002008-08-05T11:41:00.000-04:00My husband's debt card was stolen and they emptied...My husband's debt card was stolen and they emptied his account buying vitamins. lol. Weird... but the bank caught it and cleared it up easily enough. It also wasn't a big bank, just a local credit union.Anonymousnoreply@blogger.com