Stolen Bank CC, waht are my options

AsSiMiLaTeD

So someone stole my Wells Fargo Bank Credit Card, this is basically a check card, tied directly to my checking.

They managed to completely wipe out my checking account, I'm wondering what options I may have, have a few questions:

1 - I've never researched much before, but am reading now that the bank doesn't have to refund those charges to me, that this only applies on consumer credit cards - does that sound right?

2 - Should I file a police report, will it do any good? I'd assume yes, but should confirm - is it actually illegal to use a credit card if you find it somewhere? I know it's unethical and whomever used my card should burn in hell for all of eternity (okay that's a bit extreme), but is it actually illegal? I don't think it's illegal to claim cash that you find sitting around, is this any different?

3 - Most importantly, if someone has my credit card, does that open up the possibility for them to obtain other person information or do further damage? I cancelled the card, so that's no longer of any use, but does that card link to other information that they can use? There's really nothing on the card except for my name and the card number, so i would think I'm OK, but now I'm paranoid - is there like some huge database with credit card numbers and SSNs linked together.

I've called my bank to dispute the charges and they said they'd look into it for me, but wonder if there's any obligation on their part to help me out. I was considering changing banks anyway, so I imagine the outcome and how this is handled will have a large impact on that decision.

Any advice or info is appreciated.

zombie boy 2000

My check card (US Bank) always refunds charges not authorized by me. I've even challenged a tip that was off by only $2 on principal alone, and that amount was credited back.

Furthermore, I would assume that using someone's credit card is illegal because it would seem to presume identity theft.

AsSiMiLaTeD

zombie boy 2000 wrote: »

Furthermore, I would assume that using someone's credit card is illegal because it would seem to presume identity theft.

I would assume the same thing, but then started wondering if it's actually the case...

Fireman32

My bank called me to verify some charges that i made online. This is when I started doing alot of bill paying online and some shopping as well and they called to verify that it was me.

I would say file a report is does not hurt and hopefully the bank will work with you.

edbert

Dispute the funds. Your bank should give you back the money. Contact the credit agencies and ask them to put a fraud alert on your account with them. That way if someone does attempt to use your SSN for anything they will have to contact you to confirm before anything can be done. I had someone get a Sam's credit card a few years back in my name and did that and never had a problem since. It may be a little more of a hassle, but in my opinion well worth it.

ohskigod

edbert wrote: »

Contact the credit agencies and ask them to put a fraud alert on your account with them. That way if someone does attempt to use your SSN for anything they will have to contact you to confirm before anything can be done. .

GREAT ADVISE!!!

when fraud alerts pop up, a credit lender will contact either you, or the person trying to get credit in your name and ask questions about your prior credit history that only you would know.

I would add that you should check your bureau periodically, just to be safe. Since I know the credit system well, I just check mu bureau every year, maybe twice a year. If your really worried about it, look into credit monitoring. a few sheckels a month for monitoring and piece of mind isnt a bad thing.

krabby5

and yes...definately file a report with the police....

Gaara

I always do my research on these types of things before getting a debit or credit card.

https://www.wellsfargo.com/checkcard/protect/wellsprotect

"Your Wells Fargo Check Card and Credit Card comes with the WellsProtect® program at no extra cost. It's built-in protection features help keep you in control with these benefits:

You won't be responsible for promptly reported unauthorized transactions
You won't be held responsible for any unauthorized purchases or ATM transactions, as long as they are reported promptly. "

From the FTC's website "Your maximum liability under federal law for unauthorized use of your credit card is $50. If you report the loss before your credit cards are used, the FCBA says the card issuer cannot hold you responsible for any unauthorized charges."

Check the paperwork that you got when you got the card, this info should be there to. You should be all set with the funds that were lost.

2. Of course it is illegal, finding cash and finding a credit card are totally different. In the cash example you have no idea whos it is and no way to find out that information. With the credit card you do know whos it is and you are stealing their funds.

Jared

bobman1235

It is definitely illegal to use someone's credit/check card - it's fraud, plain and simple. Use of the card implies ownership, and to use the card you usually need a signature. If you fake that signature, you're committing fraud.

heiney9

I had an erroneous charge on my debit card form a restaurant. We had a large tabel and people were paying their own bills (about 5-6 tickets for the whole table). The waitress charged my ticket as well as a friends ticket to my card. Gave me a ticket to sign and gave my friend a ticket to sign. Both tickets were charged to my card number.

I had quite a hassel at the customer service hotline from my bank, but eventually I got them to understand what the issue was and I got a refund. It was a hassel and good thing I saved my reciept.

This is am entirely diff case and I would think the bank would work with you w/o hassel to get it rectified.

Good luck

H9

PhantomOG

I hope for your sake they clear it up quickly so you have access to your money.

This is why I only carry credit cards, not check cards.

jmwest1970

I mentioned this to my wife. She's a former bank manager. She said the obvious, "Make sure your wife didn't use the card." Also, she said you should have the bank remove the card from your account. This will prevent any future transactions.

ohskigod

the standard seems to be that you should not be resonsible for the charges made if you did not make them, but there are limits. If the card was stolen a week ago, but are now just reporting it to the bank, they might have issues reimbursing a weeks worth of fraudulent charges. The earlier you report a missing card to them, the more willing they are to help.

this is a reason why I try to use my check card as often as possible, so if it is missing for some reason, I will know about it fast, and report it fast, which is important.

Fireman32

Lou always knows where his check card is inside joke.

AsSiMiLaTeD

I knew that the card was stolen the morning after, and reported it immediately - the card was stolen on Monday night and reported at 8:00 Tuesday morning when the bank opened.

I actually thought I was OK, I checked on Tuesday and again yesterday and had the money that I should in my account (I didn't check the account detail, just checked the balance and 'knew' I was OK).

I get into work this morning and run downstairs to grab a quick bite to eat and my card (it's a cafe card that links directly to my bank CC - I save 15% on purchases for using it) doesn't work, she says my CC was declined. So I run upstairs and check my account, I'm sitting at a negative balance of $11.24.

I called the bank and they explained what had occurred. It turns out that someone used my card to make a couple large purchases, but the merchant didn't actually charge my card, they just ran a $1 transaction to check the card and make sure it's valid, and then the actual charges went through last night sometime. The guy said that gas stations do it all the time, and that some merchants (though usually hotels) do the same thing. So apparently those $1 transactions had gone through when I checked my balance earier in the week, but I didn't notice because I didn't check the detail and wouldn't really notice a couple bucks missing from my account.

I've learned a couple lessons from this...

AsSiMiLaTeD

Jared, thanks for the link, good info to have, and looks like I may be covered...

Fireman32

Hope it all works out for you and you get all of the money back.

ohskigod

Fireman32 wrote: »

Lou always knows where his check card is inside joke.

waaaaaaaaaaaaaaa!

shoulda seen that comin

krabby5

Polkmaniac wrote: »

I knew that the card was stolen the morning after, and reported it immediately - the card was stolen on Monday night and reported at 8:00 Tuesday morning when the bank opened.

I actually thought I was OK, I checked on Tuesday and again yesterday and had the money that I should in my account (I didn't check the account detail, just checked the balance and 'knew' I was OK).

I get into work this morning and run downstairs to grab a quick bite to eat and my card (it's a cafe card that links directly to my bank CC - I save 15% on purchases for using it) doesn't work, she says my CC was declined. So I run upstairs and check my account, I'm sitting at a negative balance of $11.24.

I called the bank and they explained what had occurred. It turns out that someone used my card to make a couple large purchases, but the merchant didn't actually charge my card, they just ran a $1 transaction to check the card and make sure it's valid, and then the actual charges went through last night sometime. The guy said that gas stations do it all the time, and that some merchants (though usually hotels) do the same thing. So apparently those $1 transactions had gone through when I checked my balance earier in the week, but I didn't notice because I didn't check the detail and wouldn't really notice a couple bucks missing from my account.

I've learned a couple lessons from this...

yep..I always see $1 transactions in the pending charges when I balance my account online..

krabby5

PhantomOG wrote: »

I hope for your sake they clear it up quickly so you have access to your money.

This is why I only carry credit cards, not check cards.

but what do you use for daily purchases?

Lowell_M

You should definately be covered. I had some a-hole buy a couple video I-pods using my check card and was actually able to track the **** down (well...the police in CA did, anyway). I found out the morning after the charge went though, called the company that charged my account and the items were to be out for delivery on a UPS truck the next morning. They called the police in the town they were being delivered to who just sat near the address around 10:00am the next day and got the guy. I felt very CSI-like.

My bank's policy was that I would be liable for $50, but they actually waived all of the charges.

bobman1235

krabby5 wrote: »

but what do you use for daily purchases?

Assuming you don't carry a balance and get a no-fee credit card, why not just use a CC to make daily purchases? A lot of times you can get "rewards" based on how much money you spend, whether you pay it off or not, so despite the evils of credit you can get a good deal out of it if you're responsible.

Gaara

Anyone seen the movie Catch Me If You Can? It is a Leonardo Dicaprio flick about a guy who lies about his identity and commits bank fraud to get money.

Advice from the man the movie was made about, Frank Abagnale Jr. He has worked for years for the FBI creating security features in checks and for banks. I personally have written 4 checks in my life and only used my debit card twice.

Credit cards are much safer and most cover you for any unauthorized amounts. Hell my first credit card I ever got gave me 0% for 12 months, 1% back on all purchases in cash, and no annual fee.

Jared

bobman1235

Gaara wrote: »

AI personally have written 4 checks in my life and only used my debit card twice.

:eek: How old are you??? Before internet banking hit its stride, I'd love to know how you paid bills without checks.

PhantomOG

krabby5 wrote: »

but what do you use for daily purchases?

A credit card for practically all of my purchases. I pay the balance entirely every month so no finance charges. My primary every day card nets me 5% cash back at grocery stores, gas stations, and drug stores and 1% everywhere else. I typically get about $50 a month back from my credit card.


With a credit card, you are not at the mercy of a Bank to quickly clear up fraudulant charges in order to get your money back. Yeah, all of them say they have guarantees out the wazoo, but you're still left holding the bag like the OP if you account is drained and you have a need for money.

Credit cards are just plain safer.

Gaara

22

When I was young everything I purchased was cash, or if it was online I used my paypal account. I have had direct deposit since my first job so I never have to go to the bank to cash paychecks, and got my first CC when I was 18.

Since then everything I purchase is on credit cards, it makes it easier to see how much I have spent and keep a balanced budget. I have online bill pay with all my cards, my savings account is also online. I never have more then $100 in my wallet as it isn't needed. I take a trip to the bank roughly once every three months.

It is much safer this way since you are not giving out your banking information on the form of a check, and also if someone did get my CC info I am not liable for charges made.

madmax

I was always under the impression a bank card was unsafe because it links to your bank account (especially if you have overdraft) and if mis-used there is no $50 limit like a credit card. Of course different banks may vary but this is what I've heard here and there on money talk shows.

SKsolutions

Didn't follow the link to Wells Fargo, but there should be good info there. Most bank Debit cards are 0$ or 50$ total liability unless you raise the daily spending limits (like 400$ per day ATM).

You did not delay in reporting, and that is what the usual verbage requires. If you find that Fargo is not being forthcoming with a solution you find acceptable, let them know that you are considering a 93A suit which you can file and fight on your own. They may tell you that it won't apply or some such crap, but they will try much harder for two reasons. First, the suit carries a treble damage penalty, and second, they have to report impending 93A action to their professional licensure (Division of Banks).

Hope you get your funds back, and Wells F. should charge back the items to the charge initiator for not checking ID with CC use.

jmwest1970

Gaara wrote: »

22

When I was young everything I purchased was cash, or if it was online I used my paypal account.

When you were young??? You are young, and apparently successful by looking at your gear. Enjoy it!

POLKOHOLIC

you know....im a big supporter of plastic :P