8 ms·

Having someone steal a Credit Card number is vary safe at worst your out 50$ and need to wait a few days to get another one in the mail. It's checks I worry ab

Having someone steal a Credit Card number is vary safe at worst your out 50$ and need to wait a few days to get another one in the mail. It's checks I worry about, you can easily drain a bank account with the 2 numbers on the bottom of them and you don't get your money back when that happens.

Zikes 14y ago
Debit cards are particularly dangerous, as they are as vulnerable as credit cards but do not offer the same protections.
- corin_ 14y ago
  Depends what country you're in and who you bank with. If I lose my debit card I'm not responsible for anything spent with it afterwards.
  - simcop2387 14y ago
    I'm like that too, but only if i report it in a timely manner. I think it's something like 72 hours, otherwise there's an amount of about $50 or $100 that I'm liable for.
    - corin_ 14y ago
      I'm not sure if it's official policy or not, but in my experience at least it's 72 hours after you realise. In the past I reported payments from my card that I hadn't made dating back several months and I got them all refunded without it costing me a penny.
- rbehrends 14y ago
  This depends on your country. For example, in the UK, the Payment Services Regulation 2009 makes no difference between credit and debit cards with respect to a payer's liability. In either case, your liability is limited to 50 pounds (unless you acted grossly negligent, intentionally, or fraudulently), regardless of the type of card used. This is largely a consequence of article 60 and 61 of EU directive 2007/64/EC [1] (some countries have been lagging behind in implementing the directive, though, so don't expect it to be the law everywhere in Europe). [1] http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2007:319:0001:01:EN:HTML http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2...
  - edj 14y ago
    I think the parent was talking about the US, where liability depends on how fast you report the theft of your card or notice fraudulent transactions in your statement. If you don't catch these quick enough then your liability is unlimited. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm
- devmach 14y ago
  It depends : I lost my card and someone found it, went to biggest/main branch of the bank in nuremberg and draw 100€ from cash desk ( this all happened in 3 hours and yes, bank personal doesnt asked/checked identity ). When i found out i lost my card, i called the service line and blocked my card ( though confirmation, my card wasn't blocked ). After two week rush and paperwork i get my money back ( i know i lost my time but it was never about money ). There is always some chance to get your money back but the real problem is you're loosing your liquid that's why debit cards has daily/weekly limits.
huhtenberg 14y ago
That's theoretically. Practically though you first have to dispute fraudulent transactions and file chargebacks. For the most part it's easy, but for certain online transactions the bank will tell you to go and talk to the merchant directly. I had my credit card used to subscribe to the adult dating site. When I called the bank (Royal Bank of Canada, a very large, if not largest bank in Canada), they simply transferred my call to that company and I had to prove them that it wasn't me who subscribed with my credit card. They kept asking for my email address and the phone number "to compare to those on file", and the only thing that helped was actually yelling and swearing at them. YMMV, but $50 in damages is only a part of the package.
excuse-me 14y ago
Unless the person stealing the credit card uses it to access a child porn site and you are in the UK. Then you are on a child abuse register - your life is over. There is no trial because the data just goes straight to a police database and since computers are never wrong how can the police be wrong? Of course you could try suing the police and insisting on a trial to prove your innocence ;-) If you knew you were on the secret registry, but you would only discover this when you apply to coach your kid's school soccer team and find a SWAT unit turn up at your house. http://en.wikipedia.org/wiki/Operation_Ore http://en.wikipedia.org/wiki/Operation_Ore
Nick_C 14y ago
> It's checks I worry about, I've heard this repeated so many times it is almost becoming an internet meme. I suspect because most younger people have never seen a cheque, they think it is somehow "risky" to show the account number and BSB number. It's not true. All cheques have them printed on them and have done for decades. The payments clearing system worked fine for all that time, and it still does.

Zikes 14y ago

Debit cards are particularly dangerous, as they are as vulnerable as credit cards but do not offer the same protections.

corin_ 14y ago
Depends what country you're in and who you bank with. If I lose my debit card I'm not responsible for anything spent with it afterwards.
- simcop2387 14y ago
  I'm like that too, but only if i report it in a timely manner. I think it's something like 72 hours, otherwise there's an amount of about $50 or $100 that I'm liable for.
  - corin_ 14y ago
    I'm not sure if it's official policy or not, but in my experience at least it's 72 hours after you realise. In the past I reported payments from my card that I hadn't made dating back several months and I got them all refunded without it costing me a penny.
rbehrends 14y ago
This depends on your country. For example, in the UK, the Payment Services Regulation 2009 makes no difference between credit and debit cards with respect to a payer's liability. In either case, your liability is limited to 50 pounds (unless you acted grossly negligent, intentionally, or fraudulently), regardless of the type of card used. This is largely a consequence of article 60 and 61 of EU directive 2007/64/EC [1] (some countries have been lagging behind in implementing the directive, though, so don't expect it to be the law everywhere in Europe). [1] http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2007:319:0001:01:EN:HTML http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2...
- edj 14y ago
  I think the parent was talking about the US, where liability depends on how fast you report the theft of your card or notice fraudulent transactions in your statement. If you don't catch these quick enough then your liability is unlimited. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm
devmach 14y ago
It depends : I lost my card and someone found it, went to biggest/main branch of the bank in nuremberg and draw 100€ from cash desk ( this all happened in 3 hours and yes, bank personal doesnt asked/checked identity ). When i found out i lost my card, i called the service line and blocked my card ( though confirmation, my card wasn't blocked ). After two week rush and paperwork i get my money back ( i know i lost my time but it was never about money ). There is always some chance to get your money back but the real problem is you're loosing your liquid that's why debit cards has daily/weekly limits.

huhtenberg 14y ago

That's theoretically. Practically though you first have to dispute fraudulent transactions and file chargebacks. For the most part it's easy, but for certain online transactions the bank will tell you to go and talk to the merchant directly. I had my credit card used to subscribe to the adult dating site. When I called the bank (Royal Bank of Canada, a very large, if not largest bank in Canada), they simply transferred my call to that company and I had to prove them that it wasn't me who subscribed with my credit card. They kept asking for my email address and the phone number "to compare to those on file", and the only thing that helped was actually yelling and swearing at them. YMMV, but $50 in damages is only a part of the package.

excuse-me 14y ago

Unless the person stealing the credit card uses it to access a child porn site and you are in the UK. Then you are on a child abuse register - your life is over. There is no trial because the data just goes straight to a police database and since computers are never wrong how can the police be wrong? Of course you could try suing the police and insisting on a trial to prove your innocence ;-) If you knew you were on the secret registry, but you would only discover this when you apply to coach your kid's school soccer team and find a SWAT unit turn up at your house. http://en.wikipedia.org/wiki/Operation_Ore http://en.wikipedia.org/wiki/Operation_Ore

Nick_C 14y ago

> It's checks I worry about, I've heard this repeated so many times it is almost becoming an internet meme. I suspect because most younger people have never seen a cheque, they think it is somehow "risky" to show the account number and BSB number. It's not true. All cheques have them printed on them and have done for decades. The payments clearing system worked fine for all that time, and it still does.