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About LinkBacksFor prepaid debit cards what fraud rights and protections do you get by law? I have been using a prepaid card now for 11 months and realized I don't know what will happen if I ever get fraudulent transactions on my card.
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Green Member
- Join Date
- Feb 2011
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- San Jose
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Fraud protection on prepaid debit cards and credit cards
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Centurion Member
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- Jun 2008
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- Smogland
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I don't use prepaid cards and to be honest my knowledge about them is average, at best.
Someone correct me if I am wrong but Visa or Mastercard purchases processed without a PIN have fraud liability protection that is similar or the same as credit cards. For fraud protection on prepaid debit card PIN transactions it should be the same rights as if it occurred on a regular debit card, which aren't much.Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
Current Cards: American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Citi Thank You Premier
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Banned
- Join Date
- Sep 2011
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- Philippines
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- 58
Debit and credit card are protected by the bank when they are registered. If the card is stolen, the bank can reverse charges and even inform customers for any doubtful transactions. On the other hand, prepaid credit and debit cards are not protected similar to debit and credit card because they are not directly linked to a bank. The only protection is to keep your pin number only to yourself.
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