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ATM Card Fraud

  • 27-05-2008 12:27pm
    #1
    MsFifers
    Registered Users, Registered Users 2 Posts: 997 ✭✭✭


    If your bank account has been embezzled of funds due to ATM card fraud - will the bank reimburse you?

    This has happened to someone I know - 10K gone over 3 months while they were travelling abroad. Obviously the card was skimmed somewhere. The person only found out now as they were away.

    The bank has just said they are looking into it.

    Anyone know what the likely outcome will be?


Comments

  • #2
    Davy
    Registered Users, Registered Users 2 Posts: 19,340 CMod ✭✭✭✭Davy


    thats not nice! few hundred would be bad, but 10k! :eek: Would love to hear the banks reply to this one, learned the hard to check online every once and awhile


  • #3
    wyndham
    Registered Users, Registered Users 2 Posts: 2,284 ✭✭✭wyndham


    They should be covered, but the time period involved would mean it is subject to intense scrutiny. They would need supporting documentation to show that they were away when it happened. If they used the account while abroad with an ATM card on the same dates as it was accessed in this country, it would be an open-and-shut case of cloning. They would look at the nature of the transactions also. Cloners will generally hit an account hard and fast. ie, withdraw the max daily available at 1155pm and again at 5 past midnight.

    If the transactions were spaced a few days apart, with a few hundred quid taken here and there, this doesn't point to a cloned card.


  • #4
    MsFifers
    Registered Users, Registered Users 2 Posts: 997 ✭✭✭MsFifers


    Thanks for the replies. There is still no concrete response from the bank - they are obviously going through the process of investigating the withdrawals. They said it is one of the biggest cases of this type they had come across!

    The thing that is really p***ing off my friend though, is that a couple of months ago he was aware his Visa card details had been stolen and had reported the fraud straight away. He also told his bank about this and told them to be aware of any unusual transactions as he wasn't in a position to check his account while travelling.

    Oh well, hopefully it'll all be sorted in the end.


  • #5
    Tipsy Mac
    Closed Accounts Posts: 2,559 ✭✭✭Tipsy Mac


    If it was skimmed and the fraudsters didn't have the pin to make the transactions he should be fine, if they did obtain the pin I think the bank can refuse to compensate.


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