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I guess it depends on your bank. My SO's debit card information was stolen, the only issue was waiting 3 days for a new one to be mailed. No overdraft charges, or any other type of problem. The debit card was used multiple times, but the money was quickly put back into his account once the charges were noticed. He did have to fill a police report, and have a copy sent to his bank... But money wise, no issues.
My bank has always caught any fraudulent charges on my debit card, even before any money ever leaves my account. Again, no issues with money over overdraft charges... Just not having a debit card for a few days.
How? How has your bank caught fraudulent charges on your debit card before any money has left your account? Why would my bank immediately assume I'm not purchasing a phone in Southlake, TX, considering I make purchases all over the DFW area? They called me when the next phone purchase was made in Irving. All purchases were pending, as happens over the weekend. Scammers/skimmers know that.
I guess it depends on your bank. My SO's debit card information was stolen, the only issue was waiting 3 days for a new one to be mailed. No overdraft charges, or any other type of problem. The debit card was used multiple times, but the money was quickly put back into his account once the charges were noticed. He did have to fill a police report, and have a copy sent to his bank... But money wise, no issues.
My bank has always caught any fraudulent charges on my debit card, even before any money ever leaves my account. Again, no issues with money over overdraft charges... Just not having a debit card for a few days.
it depends on the situation more than the bank .some things are not cut and dry ,they require an investigation and a decision .
i had an instance of fraud on an atm card .it was cut and dry .
some are not so cut and dry especially when a pin was obtained and used .
a few months ago my chase account was hacked somehow through the bank card . i saw it pop up as soon as it was done and called the bank . they caught the bitcoin transaction before it was fully processed . they said it was a good thing they stopped it because fraud of this nature requires an investigation which could take a while .
so how long and if you get your money back depends on the situation .
a few months ago our local tv station on seven on your side had to intervine when a fraud claim was denied on the grounds of "failing to protect the pin "
I have always heard about outrageous holds on card swipe payments at the pump, but never witnessed it for myself. I use a debit card. I have visibility to all holds as "Pending" in my online account, and can verify over several years that no gas station has ever held anything other than $1.00 in Pending until the transaction clears and reports the full amount.
I use credit cards at gas stations and have never had a Hold of more than $1, including Pilot and Flying J. Not sure why others are getting hit with $100+.
A real-life story about why it could matter: years ago a coworker was rebuilding his credit and had only a secured credit card. It looked like a regular card but your credit limit was only what you'd prepaid. He had enough money in the account to cover his upcoming bill and was sent out of town on business unexpectedly. The hotel put a hold on his card for the estimated cost of his stay and so there wasn't enough $$ in the account when the monthly bill was paid. He ended up with some nasty fees.
I've already stated that all transactions are safer on a credit card. But since this IS a TRAVEL forum, I'll add a few suggestions we employ when we travel.
Two checking accounts, two debit cards kept in two different places. We need some cash when we travel. We get that cash from ATM's around the world. Lose one debut card? No problem, we've got another. The main debit card has a purposely small balance and waives all ATM fees regardless of ATM.
Same goes for credit cards. Two DIFFERENT accounts in two different places. Both have no foreign transaction fees.
I called Pilots business phone number, and asked the why to the $151 hold for these small gas purchases. I was told its because its due to the business selling so much gas to trucks. That $151 is an expected gas bill for trucks. The pumps the cars use comes under the same credit card hold that the trucks do.
I asked if every credit card purchase at Pilot comes under the $151 hold. I was told yes it does. It has nothing to do with secured unsecured cards. Nothing to do with anything about the persons anything
The whole thing evolves around Pilo Flying J puts a $151 hold on your card for your gas purchase. So for anyone travelling on a cross country trip. I would be Leary of truck stop gas stations. That seems to be the main business this comes up. I notice when I pulled into just a gas station, the hold was only $1.00.
In all my years of driving, I'd never heard of this... $1 yes, $150? No. It seems to me that if this is the case, it should at least be noted on the pump so that you have a choice NOT to play.
In all my years of driving, I'd never heard of this... $1 yes, $150? No. It seems to me that if this is the case, it should at least be noted on the pump so that you have a choice NOT to play.
I have heard of these holds only on debit cards, not credit cards. Never happened to me with a credit card. We use CCs exclusively when we can; just pay them off every month; no interest. Debit cards are only for ATMs.
When travelling overseas, we leave one each in the safe at the hotel, and the other pair zippered into the dreaded cargo pants. Just in case!
Recent victim of skimming here. Learned my lesson, pay inside. We're still working out the fraud charges with our bank.
Due to skimming never use a debit card inside or outside at a gas station. Always use a credit card or cash. It is easy to dispute credit card purchases but it takes a while to get debit card charges corrected. I have never had a gas station hold last for more than a day, two at most. Most times I never even see the hold because it is cleared as soon as the real transaction goes through, this includes Pilot stations.
It's a good idea to not keep too much in a checking account until it's needed, due to the possibility of a hack, they won't get as much. We always prefer debit over credit cards for gas to avoid interest. The solution is to have a savings account at the same credit union or bank, and if the checking account funds get low while on a long trip due to the holds, simply use your smartphone to transfer more over from savings to checking, it happens instantly.
I exclusively use Credit Cards...no interest. If, for some reason, you don't pay off your credit cards in full every month, take out a separate one for use for gas station only (make it a gas card) then set it up to pay in full every month. No interest due. Not paying interest is a silly reason when you don't have to pay interest.
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