|
 |
Home >> Scams/Fraud
Pin-based Fraud with No Cooperation from Bank
I am a bank customer who got defrauded in the amount of $2100.00. This is the second time that it has happened. The first time it was for $5000.00, and I got my money refunded in three days. Both of these were pin-based. In the second time, I didn't get my money and they denied my claim because it was pin-based.
I had just filed a complaint with the federal reserves. On 4/27/2010, I discovered that someone used my debit card and PIN at an ATM and Walmart stores. I reported it that day at the the bank with the customer service rep. I signed the affadavit and she faxed it over to the fraud department that same day. Under Reg E, the bank has ten days to investigate the claim and give me a provisional credit if their investigation has to take longer. I had called on 5/10/2010, and spoke with their 800 number customer rep and asked for the status. The rep said that they have all my paperwork, but they have ten days to give me an answer. I called the next day, which was the tenth business day (5/11/2010). They said that they don't have my signature. Right away, I did a three-way to the branch where I had filed the complaint, and Sharon, the assistant manager confirmed that everything was faxed on 4/27/2010. They both said they would check on it and call me back. Next day, I called back because I didn't hear anything. This time, 5/12/2010, they said they didn't have any paperwork or record of disputes from me. Again, a three-way to Sharon. She said that they had a fax confirmation that it came back; she gave me a copy. She said she would fax another one to the fraud department and make sure someone got it. That day, they said they would make a decision by the end of that business day.
Sadly, within three hours of receiving the fax, they said they denied it because it was pin-based. I said that's wrong and I am not satisfied, because they had their ten days and didn't give me anything back. They took another day and didn't even investigate and just denied it because it was pin-based. How about the first time I filed for the $5000.00? They were pin-based and I got my money back. Today on 5/13/2010, I went to the branch manager, who he said he would call the regional manager and fraud department and see what can be done. An hour later, he called and said it's pin-based; they couldn't do anything. He insisted that I file a police report, but said it might not help me get my money back from the bank, so what's the point? I already went to the police on 4/27 and they said it's not necessary, because they won't investigate, as they have other big cases to handle, and I need to just take it up with the bank. What can I do to get my money back?
|
|
 That the transactions were PIN-based is not a sufficient reason by itself for a bank to deny a fraudulent transaction claim. Your bank is sophisticated enough to have heard about card skimming scams (at ATMs and gas pumps, for example) where a micro camera or other camera can capture a cardholder's PIN-input sequence.
You have taken appropriate action by filing a complaint with a federal regulator. There's no guarantee the regulator will be able to help you, but it may. Other than that, if the bank remains adamant in its refusal to assist you, you can contact an attorney and ask for legal assistance.
In the meantime, keep trying to escalate your case with the bank. If you do get it resolved, think about changing your bank.
Published on BankingQuestions.com 5/26/10
|
| |
|
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
