A Real-Life Example of Debit Card Fraud

Written by nickel - 4 Comments

Hey, guess what? While we’re on the subject of debit card problems (see also my list of why credit cards are better then debit cards) CleverDude just posted an article about fraudulent charges showing up on his debit card. He’s actually had trouble with this same group before, but previously it was with a credit card. Thus, his situation is kind of an interesting case study…

Comments (scroll down to add your own):

Hey, thanks for the repost! Yeah, I’m still wondering how they got my debit card number.
Comment by Clever Dude — May 10th 2007 @ 12:27 pm
It is not because of having a debit card. The problem is with the company that issued the debit card.

His bank did not handle the matter correctly. The have the power to correct it. They just chose to not do it and give him the roundaround
Comment by Moneymonk — May 10th 2007 @ 12:30 pm
Given all the problems in the world relating to identity theft, I have taken my handling of all transactions (most anyway) back to the point of:

Go to the bank
Withdraw cash
Spend cash only

This is achieving 2 things for me

1. I spend a heck of a lot less
2. I don’t worry about folks on the dark side getting my banking information

OK, I don’t worry about it as much :- )
Comment by Crediteria.com — May 13th 2007 @ 3:47 am
I got gas at Sam’s club yesterday they put through two charges on my card, one for the amount I spent $29.98 and another for $100, the transaction has completed but they still have the $100 pending and have held that money out of my account making it unavailable to me. I will never buy gas there again. Chevron is also guilty of this and charges $75 without notifying you that they are doing so, this should be against the law. I have had them do this both as a credit or a debit.
Comment by Terri Cyrgalis — Jan 16th 2008 @ 4:41 pm