Unauthorized Debit Card Transaction.

[Gizmore]

As the name implies, it is a Debit Card.

Once the merchant clears the transaction, the amount gets deducted. Unlike credit card, even when the merchant clears the transaction, amount is still owe to the bank. There's still recourse if the transaction is unauthorized.

Debit card not be used for online transaction in the first place as there is no protection against unauthorized transaction.

 

[Lubber Duckie]

Happened to my UOB credit card last year.

To do:
1. Call bank to inform the unauthorised transaction, existing card will be cancelled, new card on the way.

To happen:
1. Bank will send a letter of dispute, please read, sign and return.
2. Once investigation is completed, or near completion, amount will be credited.

It'll take approx. 3 months.
Don't worry, it's almost hassle-free.

 

[sabee]

Happened to my UOB credit card last year.

To do:
1. Call bank to inform the unauthorised transaction, existing card will be cancelled, new card on the way.

To happen:
1. Bank will send a letter of dispute, please read, sign and return.
2. Once investigation is completed, or near completion, amount will be credited.

It'll take approx. 3 months.
Don't worry, it's almost hassle-free.

For credit card you have some protection, so you can get your money back. Debit card different issue unfortunately.

 

[domdomino]

For credit card you have some protection, so you can get your money back. Debit card different issue unfortunately.

yes i agree. thats why i cancelled my debit card from posb...

but i suspect is keylogger from my PC. i just scan again just now and there is like 15 worms and 8 trojan horses in my comp. got to reformat it .:angry:

 

[night86mare]

Problem here is a that he used a debit card, so its more like a normal bank ATM card but using the Master/Visa system, so the debit is immediate......not sure if it can still be revoked/reversed. This is the reason I cancelled my debit card from Citibank, and cancelled the debit card part of my HSBC ATM card (but can still be used as normal at ATM's of HSBC/Stand Chartered).

HS

they don't have insurance for debit transactions?

 

[hongsien]

they don't have insurance for debit transactions?

I never asked.....in fact I didn't realise my HSBC card was a debit card until I saw it on their website, I wasn't listening carefully when I opened my account with them :-(

The problem I see with debit cards is when you loose the card, EVERYONE can use it to debit your account without the need for a PIN, cause it can be used as a 'credit card' through the VISA/MASTER system.......

Just look at how many merchants look at your signature......

HS

 

[azul123]

Same like cash if you loose it... it is gone.

../azul123

 

[azul123]

yes i agree. thats why i cancelled my debit card from posb...

but i suspect is keylogger from my PC. i just scan again just now and there is like 15 worms and 8 trojan horses in my comp. got to reformat it .:angry:

This is interesting... if your money was stolen due to a security leak on your pc... will you still be liable for your loss? hmmm... don't know. But I look at it as if you have your wallet hanging up of your back pockets someone with sly fingers picked your pockets and took money from your wallet and then slip it back in.

Money still gone.. who took it? and who is liable? I guess you?

../azul123

 

[night86mare]

Same like cash if you loose it... it is gone.

../azul123

i don't understand, i know that credit card fraud is easily resolved once you can prove that you did not do the transaction. i am trying very hard to understand how a debit card fraud case would be any different.

online transaction is perhaps hard to prove though.

 

[Cheesecake]

i minimize online transaction becos i m kiasi!

 

[night86mare]

Money still gone.. who took it? and who is liable? I guess you?

../azul123

http://www.consumer-action.org/helpdesk/articles/what_does_zero_liability_on_my_debit_card_mean/

Many of the banks that issue debit cards voluntarily offer “zero liability” to cardholders. Both MasterCard and Visa have policies that go beyond federal guidelines so that you will not be held financially liable for fraudulent purchases on your card. Ask your bank about the kinds of debit card transactions covered under its zero liability protection policy.

doesn't go! operate under mastercard?

 

[night86mare]

i minimize online transaction becos i m kiasi!

fraud can be committed by other means that can be carried out IRL, like skimming.

 

[Cheesecake]

fraud can be committed by other means that can be carried out IRL, like skimming.

yes but still, i m a kiasi type! :bsmilie:

 

[spheredome]

This is an advise. Always keep gaming or openly used machine from your transaction PC. This is bec, transaction machine must be trustworthy thus the access to untrusted sites are minimal.
Of course it depends on the person usage behaviour.

If using Windows, Zonealarm Ultimate is the best for me (unfortunately Win7 got lockout problem with it, hope they solved it) as it coupled firewall + antivirus/malware and virtual browser session.

 

[hongsien]

i minimize online transaction becos i m kiasi!

Many banks now have a virtual keyboard to log in your password, or have a secondary pin generating machine (HSBC, UOB has) so these scammers can't use this method of 'reading' your keyboard anymore to log in......cause everytime you need to type in another number which they don't know

 

[dbsbank]

I am Tiffany from DBS Bank. We saw your post and would like to see how we may help. We would need to find out details of the transaction in order to assist you on this matter. If possible, you can email your contact details to wanda@dbs.com and I will get in touch with you.

 

[rach]

wow DBS also got read clubsnap!

anyhow i think its good to cancel the debit card after a period of time n get a new card with new number..

 

[domdomino]

wow DBS also got read clubsnap!

anyhow i think its good to cancel the debit card after a period of time n get a new card with new number..

well i canceled my POSB debit card totally. now only using UOB card.

 

[sabee]

I am Tiffany from DBS Bank. We saw your post and would like to see how we may help. We would need to find out details of the transaction in order to assist you on this matter. If possible, you can email your contact details to wanda@dbs.com and I will get in touch with you.

Wow, that's pretty awesome.

 

[neech7]

I am Tiffany from DBS Bank. We saw your post and would like to see how we may help. We would need to find out details of the transaction in order to assist you on this matter. If possible, you can email your contact details to wanda@dbs.com and I will get in touch with you.

You are male according to your profile and your name is Tiffany? And your email address says Wanda?