Debit Card Fraud - UPDATE

Many of you showed support and shared similar stories in my previous post about my less-than-ideal current financial situation. Right here if you missed it.


https://bravado.co/war-room/posts/dealing-with-debit-card-fraud


I felt an update was in order, so to update anyone interested, there is no real update. And that's what's problematic. They've recently told me that the investigation could now last up to or over 6 weeks. However, I haven't been refunded yet, because "they need to prove that it wasn't actually me who spent the money." Other than that, they haven't given me any insight into what they're actually doing or what's going on. I feel like all they'd need to do is trace the IP address. I don't understand the time/trouble behind this.


From the research I've done, and what I've heard from people with whom I've shared my situation, it seems like, in most situations, the bank is actually obligated to refund you upfront if you follow fraud reporting procedures. I have done so. Is this something I'm able to push back on? Is this something that I could potentially take to court if it turns out they're not honoring a certain policy? I don't want to have to do anything drastic or create an even bigger issue, I just want my money, especially when it appears I should already have it back.

๐Ÿฑ Off-Topic
๐Ÿ„ Personal Life
9
CuriousFox
WR Officer
5
๐ŸฆŠ
I was actually thinking about you today. Thanks for the update.

I have had this happen to me a couple of times, both with larger banks, not small local banks or credit unions. I had to fill out an affidavit and their investigation did take a few weeks. The banks shut my debit cards down immediately, sent new ones, and they refunded my money up front with the understanding the investigation was ongoing.

BigCheese
Notorious Answer
1
Agency Recruiter
Appreciate it Fox - unfortunately not the case for myself, but I'm actively shopping for a new bank.
CuriousFox
WR Officer
2
๐ŸฆŠ
Slice em up. Scattered covered smothered style.
funcoupons
WR Officer
2
๐Ÿ‘‘
Sadly I think this isย  pretty standard. The bank did the same to me when I had a fraud case open. Pretty sure it took over a month and definitely numerous calls to get it settled.

You'll get your money back. This blows but just be patient. โค๏ธ
jefe
Arsonist
1
๐Ÿ
You're in Canada, right?

Was that with one of the big 5 or a credit union?

I've had my debit card compromised twice and my bank (2 letter name) notified me before I noticed, re-issued the card, and refunded immediately. It's happened twice, though not for awhile.

Thank Goodness attempted Western Union transactions were flagged as out of character and likely fraudulent.
funcoupons
WR Officer
0
๐Ÿ‘‘
Yes I am, it was with a big five. I think the issue was that I had actually purchased from that site before, so when another transaction came through no red flags were set off...
Kinonez
Celebrated Contributor
1
War Room Enthusiast
Thanks for the update! Hope you get your money soon! This hasnโ€™t happened to me, but it did twice to a friend, with 2 different banks, the first, the biggest bank of the country m, took them 2 months to do all the investigation and gave him the money.ย 

Second time it was a small bank the thought was never going to pay him, payed him upfront and even found the thief a couple months later and gave him some of the things the thief admitted to have bought and still had like an iPad. I immediately changed to that bank, never looked back!
InQ5WeTrust
Arsonist
1
No marketing, mayo isn't an MQL
Only experienced this in the UK - but I got the money refunded within 48 hours while they looked into it.ย 

Completely blows, but you'll get there.ย ย 
slaydie
Big Shot
0
Account Executive
playing the waiting game...sigh. Hope you get your money back!
15
Members only

What is your favorite credit card?

Question
46
29
Members only

Debit Card Fraud ??

Discussion
61
43
Members only

Credit Card ADVICE!

Question
110