Some POS emptied my accounts

Sava · April 3, 2003, 19:22

Yup... I found out today.

About two weeks ago, I lost my wallet while moving stuff from my parents house to my new apartment. I didn't think anything of it because I often lose things. Today, I get 6 "insufficient funds" notices from my bank. I had an ATM card in my wallet that was linked to a savings account. I added up the charges to find a little over $1,000 dollars gone from my checking and savings accounts. One charge was for $490.06 at a K-Mart. Jesus christ, the person could have at least stolen my money and shopped at a better store.

Anyways, I need to go to my bank tomorrow and find out where all the charges were. They said after I fill out dispute forms and stuff, I should get all my money back. I also spoke with my local police station; they said that the locations where the charges were made had cameras so they have a good chance of finding the person. This is the only time I wish I lived in some Islamic country. I want this f8ckers hand cut off

.

Skanky Burns · April 3, 2003, 19:30

Don't they need a PIN to get to your funds?

notyoueither · April 3, 2003, 19:31

They said after I fill out dispute forms and stuff, I should get all my money back.

You should double check that, and don't hold your breath.

JohnT · April 3, 2003, 19:34

Well, Sava, ravaged by the blight of poverty, I'm sure the thief had no choice but to resort to stealing in order to barely survive in this oppressive capitialist society. You oughtta put another grand in your accounts for the guy, you big hearted Leftist, you.

(But seriously, I'm sorry. That sure sucks.

)

Sava · April 3, 2003, 19:40

Thanks John, a little humor is nice.

Skanky - No, it works like a credit card. They just sign my name and poof. The PIN is only needed to withdraw funds from an ATM.

nye - The lady at the bank said I should get all my money back. I just need to look at the statement and pick out which charges weren't authorized.

The good news is that my new credit card wasn't in my wallet. That thing has a huge limit and if someone got a hold of that, I could have been really f8cked. Also, the police said that since none of the charges were on credit, only debit, I won't have to deal with the *sshole credit card companies.

Felch · April 3, 2003, 19:43

I've been robbed a couple of times, and both times the bank reimbursed me for what happened.

Neither case was for as much money, mostly because I don't tend to keep very much in my account at any one time.

Skanky Burns · April 3, 2003, 19:47

Yeah, you will more than likely get your money back then. Good news at least.

Swissy · April 3, 2003, 19:59

This shows the danger of the "check card". While very convienent, they leave you open to short term financial ruin. Unlike a credit card where you can catch the fraudulant transactions in the monthly statement before they cost you anything. The "check card" removes the money from your account in aywhere from 1-4 days, depending on the quality of the stores credit card transaction processing. I've had a friend find out sombody had gotten a hold of his Debit/Visa card number and was charging downloaded software purchases, when he tried to get $20 from an ATM and it said funds unavailable. Luckily he never writes checks, so he didn't get capped from any NSF fees.

notyoueither · April 3, 2003, 20:10

Quote:

Originally posted by Sava

Thanks John, a little humor is nice.

Skanky - No, it works like a credit card. They just sign my name and poof. The PIN is only needed to withdraw funds from an ATM.

nye - The lady at the bank said I should get all my money back. I just need to look at the statement and pick out which charges weren't authorized.

Ahhh. One of those. Good news then. The Card company will most likely eat some, and any merchants who did not follow proper procedures will eat the rest.

Timexwatch · April 3, 2003, 21:47

Sava:

How long did it take for you to notice that your wallet was gone? You should've canceled your card immediately.

Second, shouldn't the stores have checked ID? Isn't it policy in most places to check ID on credit and debit?

DarthVeda · April 3, 2003, 21:51

Keep us updated if they catch the ****er

vovan · April 3, 2003, 22:01

It might be the policy to check the ID, but I know most stores don't do it. Just before coming to college, I bought a new printer at Best Buy, which is a fairly expensive thing, and even then they didn't check my ID... Then again, this one time I bought a $3 adapter from CompUSA, and they did check my ID. So, I think it all depends on the pperson at the cashier.

Now, there are those new cards, that have your picture on them. You can even use them as your ID. But the point is that the person can verify it is you without even asking for an ID, so you might want to get one of those next time. (Although I don't know if all baks do it: I know Bank of America, and Chase Manhattan do.)

Urban Ranger · April 3, 2003, 22:02

Sava,

Did you report the loss of your bank cards and credit cards?

Swissy · April 3, 2003, 22:45

Stores are not required to check the customers ID. The store is only required to check to see if the credit/debit card is signed and to aquire an approval code for the transaction. American Express is the only company that will require customer ID, and that only if there is unusual card activity. Merchants are fairly insulated from loss in these cases and only a merchant who does not aquire an approval would be out anything. You see the merchant pretty much funds the cedit card process, they are charged a small percentage of every transaction. The credit card companies aren't going to stick it to them.

It is pretty much upto the consumer to safeguard themselves. Reporting a card missing will automatically prevent an approval code from being issued.

Lonestar · April 3, 2003, 23:07

A chekcard, huh? You should have reported it the instance you lost it, then.

Sava · April 4, 2003, 00:13

Quote:

Originally posted by Urban Ranger
Sava,

Did you report the loss of your bank cards and credit cards?

Yup, as soon as I found out. Luckily, my new credit card wasn't in my wallet. It's safe at my house

Asher · April 4, 2003, 00:15

Quote:

Originally posted by Sava
Skanky - No, it works like a credit card. They just sign my name and poof. The PIN is only needed to withdraw funds from an ATM.

In the Empire of Canadia all Debit card(bank/ATM card) purchases require a PIN, not a signature.

Six Thousand Year Old Man · April 4, 2003, 00:19

Did you tell the bank that you lost the card 2 weeks ago? I'm not sure that they wouldn't have a problem with you taking so long to report it.

Hopefully it'll be OK... but I know the credit card companies can be picky about things like that.

Dr Strangelove · April 4, 2003, 00:47

My check card has my picture on it. Since there aren't many "Elephant Men" out there my account is pretty safe. Last summer someone lifted my wallet from my locker at the YMCA, but they dumped it in a garbage can minus only a Blockbuster card because there wasn't anything in the wallet that they could use.

See - it pays to be butt ugly.

Bosh · April 4, 2003, 00:55

Quote:

In the Empire of Canadia all Debit card(bank/ATM card) purchases require a PIN, not a signature.

Not true, must have bought stuff 3-4 with my debit card in Canada over spring break and was never asked for a PIN number, damn good thing too since I've forgotten mine

KrazyHorse · April 4, 2003, 00:59

You sure it wasn't a credit card?

Here there are only 2 things: credit card and debit card.

Debit card takes money directly out of your account, and requires a PIN for all transactions. Credit card is on credit (duh) and does not require any sort of a PIN, ever.

Asher · April 4, 2003, 00:59

Quote:

Originally posted by Boshko
Not true, must have bought stuff 3-4 with my debit card in Canada over spring break and was never asked for a PIN number, damn good thing too since I've forgotten mine

Are you serious? Are you talking about something like a Visa cheque card or a real debit card?

Every single debit card transaction I've done in Canada has required them to swipe my card, then I type in my PIN number on the little handheld thing they give me...

Boris Godunov · April 4, 2003, 01:02

Most any debit card issued by a major bank (in the US, at least) can be used like a credit card if the store doesn't have a specific debit card device. When the store runs through the receipts at closing, the money is deducted from your account. No PIN required, just a signature.

You should be able to contest the thefts on the signature being phony, though.

notyoueither · April 4, 2003, 01:16

I have seen 'credit card' debit cards. They carry the Visa logo, but are connected to your bank account and function as a debit card in that respect. To a merchant, they behave like a credit card. Only signature required. Never prompted for a pin.

Most any debit card issued by a major bank (in the US, at least) can be used like a credit card if the store doesn't have a specific debit card device. When the store runs through the receipts at closing, the money is deducted from your account. No PIN required, just a signature.

I would never accept such an arrangement, as a merchant. How do I know the money is there at the end of the day?

The advantage of debit is that the money is gone. Bang. From his/her account to mine. No chance of it going back. If the money is not there after they give their pin, the transaction is declined. No joy, and no product for the consumer.

Visa and MC open up a few cans of worms, but generally, if you swipe, the machine spits out the receipt, they sign... the merchant is covered.

Merchants do have to fight tooth and nail for the funds at a later date, from time to time, but that is relatively uncommon.

KrazyHorse · April 4, 2003, 01:23

What NYE said.

And those "credit card debit cards" sound fishy to me as a consumer.

With debit cards, the PIN protects you.

With credit cards it's not your money until you send in your payment.

That "cheque card" or whatever sounds like the worst of both worlds...

DarthVeda · April 4, 2003, 01:38

Yeah I won't ever get a debit card and especially not a cheque card for the fact that people can clean you out before you even know it.

Asher · April 4, 2003, 01:40

Debit cards (as they exist in Canada, ATM cards...) have limits here too, to prevent someone from cleaning out your entire account on a spree...

KrazyHorse · April 4, 2003, 01:41

I have a 500$ per day spending limit + 500$ per day ATM limit.

I need to get that raised, though (recently it's caused me some problems when buying big-ticket items)

Amesjustin · April 4, 2003, 01:45

This happened to me once for about $1200. Bank of America did eventually pay for it - after about 4 1/2 months of legal wrangling.... (I notified them the Saturday I lost it, there tracking system wasn't notified until the following monday - too late).

Quote:

Originally posted by Sava
One charge was for $490.06 at a K-Mart.

What the hell do you buy at Kmart to get $500?

DarthVeda · April 4, 2003, 01:50

Couldn't be a gun... they dropped those some time ago