Debit card charged without permission & overdrew my account!

Get credit card fraud help: For victims of credit card fraud and identity theft, and those that can help.
13 posts
JCarter
Centurion Member
Centurion Member
 
Posts: 323
Joined: Thu Mar 15, 2012 10:40 pm
Location: Virginia

Postby JCarter » Wed Apr 18, 2012 11:17 pm

jeffysdad wrote:With a debit card once they have your money (which is immediately), they have your money; maybe you'll get it back and maybe you won't. With a credit card you have time to dispute the charge and get to hold on to your money until the dispute is resolved. There is no way that debit cards can offer the same security that credit cards do.


Utilizing the "credit" feature at a POS transaction provides the same protections as a credit card. Since there is no way to distinguish online a debit from credit transaction, this does not apply there.


JCarter
Centurion Member
Centurion Member
 
Posts: 323
Joined: Thu Mar 15, 2012 10:40 pm
Location: Virginia

Postby JCarter » Wed Apr 18, 2012 11:18 pm

Celestine wrote:You are right. That is why.... "Even if an online shopper left something in the cart, merchants are not allowed to charge the customer without authorization. "


My apologies. I read this too quickly, and posted without fully taking in your statement.

jeffysdad
Centurion Member
Centurion Member
 
Posts: 875
Joined: Thu Apr 30, 2009 2:32 pm
Location: Texas

Postby jeffysdad » Thu Apr 19, 2012 5:54 am

JC, if you buy a product with a credit card and the product turns out to be defective and you try to return it but the merchant balks, you can dispute the charge and not be liable for it until the dispute is resolved.

If you buy a product with a debit card and the product turns out to be defective and you try to return it but the merchant balks, you must appeal to the merchant to return the money that has already left your account.

The latter is a very different situation and why I say that debit cards do not offer the same security that credit cards do. Perhaps instead of "security" I should have said "purchase protection." However, it has been my experience that a bad product/service experience is far more likely than having one's card number stolen.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.



Return to “Credit Card Fraud”

Who is online

Users browsing this forum: No registered users and 0 guests