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Thread: Credit Card Problem

  1. #21

    Default Re: Credit Card Problem

    Quote Originally Posted by Shu22 View Post
    That's provided the transactions were done physically. What if they were e-transactions over the Internet?
    I think it's easier to track if it's an online purchase as there is a physical IP address.

  2. #22

    Default Re: Credit Card Problem

    Quote Originally Posted by vince123123 View Post
    It will be reflected in the system immediately. For DBS, you can see it under Debt Charge Enquiry - there will be the amount earmarked for payment.

    Reason why it is shown immediately is because your balance is also updated immediately - to prevent withdrawal resulting in the charge failing.
    That's if you check your balance everyday........and plus if you know your Debit card is loss. Not all of us check our bank balance everyday.........and some don't even know that their card is loss.

    Signatures is easy to forged and not many merchants check the signatures with care. One way to prevent thefts from using your cards is to show a form of identification (passport, IC or driving liciense) that you are the owner of the card (which Singapore has yet to implement). Not theft proof but better than nothing.

  3. #23
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    Default Re: Credit Card Problem

    Thanks for the replies. Btw, I dont know whats the correct term... which party has the burden to prove that the transaction was made by cc holder or not?

  4. #24
    vince123123
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    Default Re: Credit Card Problem

    Quote Originally Posted by swiftdragon View Post
    Going by what you say Vince, when I call the call centre to ask abt my transaction history, they should be able to tell me my last transaction which was done 5 mins earlier. DOes this apply to weekends as well? How abt overseas purchases?
    Hmm, actually you can check online via Internet Banking - but I suppose if you call up they would be able to tell you the same thing.

    My experience with DBS Internet Banking does not appear to be changed when its weekend or weekdays.

    However, I'm not sure about overseas purchases as I only use the debit card for internet purchases (where the risk of your card being skimmed is high).

    Quote Originally Posted by Godzilla Invades View Post
    That's if you check your balance everyday........and plus if you know your Debit card is loss. Not all of us check our bank balance everyday.........and some don't even know that their card is loss.

    Signatures is easy to forged and not many merchants check the signatures with care. One way to prevent thefts from using your cards is to show a form of identification (passport, IC or driving liciense) that you are the owner of the card (which Singapore has yet to implement). Not theft proof but better than nothing.
    He asked whether the balance can be checked on the same day, not a question of monitoring your own account, at least thats what I interpreted.

    As for forgery, it is my view that it doesn't matter whether they check with care or not - they have the responsibility of checking with care.

    An analogous example - if a bank pays out $$ on a forged cheque, they will be liable for the loss as they have to check to make sure that the signature on the cheque matches the account holder's signature on file. I'm not sure if this applies to credit cards.

    The problem is, there was once a report which states that the credit card company doens't care about the signature - you can sign crap, or even draw a turtle, and it still counts.

    Singapore is always business friendly, and not consumer friendly. All their policies, or lack thereof, is to make it convenient for businesses, and if it results in inconveneince to consumers, then too bad.

    Quote Originally Posted by Jix View Post
    Thanks for the replies. Btw, I dont know whats the correct term... which party has the burden to prove that the transaction was made by cc holder or not?
    It is my view (but not substantiated or backed with authority I've located), that the correct position is that the cc holder has the burden of proof of raising the dispute - at least on a prima facie level. Once that is done, the burden of proof shifts to the credit card company to show that the transaction was done by the cc holder if it wishes to continue to charge the cc holder. This is because all the relevant information is with the cc company and not the cc holder, and it would be an onerous burden for the cc holder to prove a negative (ie that he did NOT do it).

  5. #25

    Default Re: Credit Card Problem

    Very sorry to hear about your losses.

    I find most people don't read the fine print or do enough research when they apply for a debit/credit card.

    *Most* banks have this clause "Before you report the loss of card to the bank, you are liable for 100% of any transactions done. After your report the loss, you are not liable for any unauthorised transaction (except for cash advances made)".

    I know the exception is Maybank. Before you report the lose, your liability is a maximum of S$500 only for any unauthorised transactions made with your credit card.

    Quote Originally Posted by swiftdragon View Post
    Since your card is a credit card, just do not pay for the transaction that is not yours. Tell the bank that you will settle payment only after their investigation. Also, since you cancelled your card, you don't have to worry about other transactions.

    I was in a similiar situation but worst cos mine was a debit card. I lost my card and didn't know abt it. I only realised the lost card a few days later and proceeded to cancel the card immediately. However, in the time which I lost the card to the day i reported it lost, someone took my card and signed a few thousand $$ away. Since it was a debit card, money has been deducted from my account.
    ..to but the long story short....
    bank investigated and refused to refund my money...I had to bear the losses.

    Anyone knows what to do??

  6. #26
    chialc
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    Default Re: Credit Card Problem

    #1 There is a difference between INTERNET transaction and normal VISA/CC transaction that you use in for example a resturant.

    #2 For INTERNET transaction, due to the difficulties in judging whether the transaction is real or fake, your bank typically gives you the benefits of doubt, ie, they think that whatever you say is true.

    However, in order to waive the error transaction, they wanted you to proof that the transaction is not done by you OR at least you had attempt to dispute the transaction with the respective INTERNET merchant/company.

    E.g. You email to the INTERNET company, and state that you did not carry out that transaction and demand them to reverse out the money. Then, after one more week, you send another email to the INTERNET company and ask them to reverse/refund a second time. And then, you print out these two email and attached it as part of claim form and your bank will waive your charge.

    Bolah?

  7. #27

    Smile Re: Credit Card Problem

    the responsibility of card holders is to check their statement promptly. raise an objection with the issuer if statement is not in order in any respect, preferably in writing.

  8. #28
    vince123123
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    Default Re: Credit Card Problem

    What if the statement arrives and you happen to be overseas at that time? Missing the so called 7 or 14 day "you dont tell us means you agree" term?

  9. #29
    Senior Member Kit's Avatar
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    Default Re: Credit Card Problem

    I had that once quite some time a few years ago. I called and UOB cancalled the transaction. Perhaps because it was a small amount I think.

  10. #30
    Senior Member Kit's Avatar
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    Default Re: Credit Card Problem

    Quote Originally Posted by vince123123 View Post
    What if the statement arrives and you happen to be overseas at that time? Missing the so called 7 or 14 day "you dont tell us means you agree" term?
    You can always show them your passport stating that you are out of town mah....

  11. #31

    Smile Re: Credit Card Problem

    is credit card's statement/s available online? if yes, it will solve the problem vince raised.

  12. #32
    Senior Member Canew's Avatar
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    Default Re: Credit Card Problem

    Yes, they are, but I am not sure how long after the transaction till you can see it online.

  13. #33
    vince123123
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    Default Re: Credit Card Problem

    Just to confirm, you're saying that it is the customer's duty to check his account every day to ensure that there are no fraudulent transactions, and the bank has no duty to check to make sure the signature on the charge slip matches their records?

    Quote Originally Posted by reachme2003 View Post
    is credit card's statement/s available online? if yes, it will solve the problem vince raised.

  14. #34
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    Default Re: Credit Card Problem

    Quote Originally Posted by vince123123 View Post
    Just to confirm, you're saying that it is the customer's duty to check his account every day to ensure that there are no fraudulent transactions, and the bank has no duty to check to make sure the signature on the charge slip matches their records?
    Erm... if you are shopping online, what signature?

  15. #35

    Smile Re: Credit Card Problem

    just to be clear. no.

    Quote Originally Posted by vince123123 View Post
    Just to confirm, you're saying that it is the customer's duty to check his account every day to ensure that there are no fraudulent transactions, and the bank has no duty to check to make sure the signature on the charge slip matches their records?

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