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| Thread ID: 124174 | 2012-04-10 22:56:00 | In the event of credit card fraud....... | ssssss (2100) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1269302 | 2012-04-10 22:56:00 | In the event of one's credit card details being used fraudently, am I right in thinking the banks won't normally compensate you for money lost? They ought to, with the big margins credit cards makefor them. Thanks |
ssssss (2100) | ||
| 1269303 | 2012-04-10 23:02:00 | Think about it. NZ Banks (Westpac for example) compensating for lost money? I highly doubt they'll do anything about it. I posted in the PC World Forums section - my friend lost $1200 a few years back because of the lack of information. *Sarcastically claps for National & Westpac* |
EmoCat (16620) | ||
| 1269304 | 2012-04-10 23:03:00 | Apologies. I have posted this in the wrong forum. |
ssssss (2100) | ||
| 1269305 | 2012-04-10 23:06:00 | They ought to, with the big margins credit cards makefor them. Thats got nothing to do with it. And yes sometimes they do refund the money, a example was over easter weekend when some people got their money stolen fraudently - The banks will be giving back any funds stolen. It was also on a news story on the radio yesterday any money stolen will be put back into the persons account, could take a day or two though. One article on the story Bank-scam-cash-withdrawn (www.stuff.co.nz) |
wainuitech (129) | ||
| 1269306 | 2012-04-11 00:18:00 | It depends on the circumstances, and on your specific bank / card. For example, Mastercard have a Zero Liability policy, making you not liable for fraudulent transactions as long as you did not contribute to facilitating them. | inphinity (7274) | ||
| 1269307 | 2012-04-11 00:43:00 | I've been rung by my bank in that past (ASB) and told they noticed something on my card, they cancelled it and refunded me. I've also done it round the other way, found something on my statement and told them, refunded also. YMMV |
psycik (12851) | ||
| 1269308 | 2012-04-11 01:00:00 | Credit cards - depends how they got your card - or card details. The small print usually says if you gave them the details, they can refuse to refund you. If it was stolen or such, then yes, they do refund you. This is why you pay all those fees on the credit card. Note, this is Credit Cards, not EFTPOS cards. |
pctek (84) | ||
| 1269309 | 2012-04-11 04:38:00 | National Bank says the following. I also called them to verify what happens in the case of fraudulent use of the credit card number etc. when you still have the physical card - they say that this is considered the same as if the card was physically stolen, and the customer is not liable for such transactions (provided you notify them as soon as you are aware of the problem). 14. What happens if someone else uses your Card? Provided that you notify us within a reasonable time period that your Card has been lost or stolen or your PIN disclosed, you will not be liable for any loss that occurs before you notify us. This limitation on your liability will not apply if: you have negligently or recklessly disclosed your PIN, for example, by failing to take reasonable care to prevent others from identifying your PIN while using an ATM or carrying out an EFTPOS transaction you have kept a written record of your PIN on or with your Card, or if you have kept it in a form that can be readily identified as a PIN you have selected an unsuitable PIN such as birth dates, sequential numbers (e.g. 1234), parts of personal telephone numbers or other easily accessible personal data, or combinations easily identified (e.g. 1111) you have disclosed your PIN to anyone, whether family or those in apparent authority including bank staff you have unreasonably delayed notifying us that your Card has been misplaced, lost or stolen, or that your PIN has been disclosed you have acted fraudulently you have parted with your Card or allowed someone else to use your Card you have failed to reasonably safeguard your Card. In the event that you have undertaken any of the actions listed above, your maximum liability for loss caused by that breach shall be the lesser of the actual loss at the time of notification, or the maximum amount you would have been entitled to access over the relevant period. 15. The Bank’s liability Except where you or any Additional or Joint Cardholder has acted fraudulently, the Bank will make good any direct loss you have incurred in relation to an electronic transaction: if the Card used was forged, faulty, cancelled, expired or had been issued by us in error to someone else as a result of malfunction of an EFTPOS system if fraud or negligence of the Bank’s employees or another party to the EFTPOS system was involved. |
Erayd (23) | ||
| 1269310 | 2012-04-11 08:23:00 | I've had my credit card details stolen and used to buy airline tickets in India. National Bank detected the fraudulent transactions very shortly after they occurred, phoned me up to say late on the evening it occurred to tell me that they had seen suspicious activity so had cancelled my card and would reimburse me for the money that was stolen. All up it was a very painless process - they took care of everything, and I didn't lose a cent. | somebody (208) | ||
| 1269311 | 2012-04-11 23:14:00 | Thanks everybody. Its not as bad as I thought. |
ssssss (2100) | ||
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