Abstract: What to do if someone used my debit card to make online transactions? Let’s find out how to report the crime and how to get your money back.
- Question: Someone used my debit card to buy online
- File a fraud or make a police report
- Switch your bank drafts to your new account
- Know when to ignore any contact to “verify” your bank account data via phone or email.
- What if someone applies for your debit card or opens a bank account under your name?
- Do banks reimburse your stolen money out of your bank account?
- What to do if the bank or credit union rejects my claim?
Question: Someone used my debit card to buy online
If you usually check your bank statements and your transactions and see signs of authorized transactions from your debit card, this means that someone has used your card or they have some tricks to access your account. Falling victim to a skim, having your bank account stolen can be dangerous for the health of your finances. Let’s find out how to report the crime and how to get your money back.
How to get your money back when your bank account is being hacked?
There have been unrecognized online transactions from your account, there are certain steps that you should take.
Contact your bank or credit union
When you see signs of debit card fraud, immediately contact your bank or credit union to report an unauthorized charge. If you contact by phone, you should also write a letter and keep a copy of your files to follow up on the solutions. Remember to always report all fraudulent charges to your bank and debit card provider as soon as possible.
If someone is using your debit card to buy online, you may need to close your account to prevent future unauthorized access to your money. It usually takes 10 business days for the banks to investigate the problem from the time you notify. In the meantime, you should ask your bank or credit union to put a temporary freeze on your account. Therefore, there are no further charges when you resolve this issue
Dispute the transaction with your bank and debit card company
After contacting the bank, you can dispute a charge by providing some information about the fraud. There are two options available: filling out a form online or go directly into your bank and fill out the dispute form.
Normally, you have 60 days to dispute this charge. However, be noted that it is important to act as quickly as you could, especially in case you need the money that was taken from your account. This is the reason why you need to balance your account to bank statements regularly, on a monthly or weekly basis.
File a fraud or make a police report
Based on the number of fraudulent charges and the severity of the situation, you can choose to file a report with your local police. Remember to keep a copy of this report in case you need it in one day.
Another alternative method is to file an Identity Theft and submit it to the Federal Trade Commission. This will help you skip filing a fraud report with the local police. They could help you create a personal recovery plan and also send you a pre-filled letter that you could send to your bank to clear your account.
Switch your bank drafts to your new account
If you close your current debit account as a result of the fraudulent charges, you will need to update all your bank drafts to new account information. These might include gym memberships, your household bills, and life insurance. To follow up this process, it is helpful to keep a list of these charges on your debit card. Therefore, you could change information right away when something goes wrong. Otherwise, you have to deal with some charges or bills going unpaid.
Know when to ignore any contact to “verify” your bank account data via phone or email.
This is a common skim, often known as “phishing” or “scamming” to steal your information, thus stealing your money. Banks and credit unions never ask about your account data through phone or email that they initiate. If there is someone who contacts you to “verify” your bank account, you should immediately call your debit card provider and report this issue.
What if someone applies for your debit card or opens a bank account under your name?
If your card information has been stolen, the hackers might try to open your bank accounts or apply for loans in your name besides using this card to buy online. You may get some letters from banks with some unrecognized accounts you have never applied before.
In this case, contact your bank directly and immediately and make sure that you keep all correspondence. Moreover, you should contact credit providers if someone used your debit card to get loans in your name.
Do banks reimburse your stolen money out of your bank account?
If you have done nothing to compromise your bank account, you should get your money back. However, this is not guaranteed. Refunds can be delayed if the bank and debit card provider thinks you are negligent with the security of your card. If the bank does the investigation and proves you were negligent, you can be liable for all your losses.
Some examples of negligence are telling your PIN and password to someone. However, the banks could not simply conclude that the payment was authorized because your PIN or bank account was used. Banks can also refuse reimbursement if you claim unauthorized payment 13 months or more after the money leaves your account.
What to do if the bank or credit union rejects my claim?
In some cases, your bank may reject your claim to refund the stolen money if they believe that you have been negligent or take an action fraudulently. This does not have to be the end of this case, you can complain about this fraud to the bank. If you are not happy with the solution the bank has been made, you can then take your complaint to the Federal Trade Commission.
If your money has been stolen from your debit card without any permission, it could be dangerous for your financial status. It is essential to act quickly to protect the health of your finances and stop any future unrecognized charges. Hope that with these above steps, you could take the correct action to get your money back.