Dave Russo

Level 16
Verified
Top poster
May 26, 2014
771
Hi brethren, Just yesterday I had a debit posted to my bank account which is fraudulent, this is the 3rd time in apx.3 years, last time the bank I use recommended a app{on my phone} which shows ever transaction as soon as they post. This kept this fraud down to 1 ,when last time there were 3 withdraws before I caught it. The fist time again 3 withdraws. Fortunately the bank reimbursed me every time. I never use my debit card online ,always use PayPal, To say I am disgusted is a understatement. do I really have to use cash to be safe? Really think these are inside jobs of{rats in the woodpile)Any advice would be appreciated Thanks
 

The_King

Level 12
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Well-known
Aug 2, 2020
522
Are these withdrawals done by debit orders? i.e a company bills you for insurance that you never took out?

With instant SMS notifications on along with 2FA and OTP enabled no transactions should go off your account.

The bank, also should have issued you a new debit card and stopped the previous card if fraud was detected.

Also a good idea to limit your spend limits for online and atm transactions. This way your account is not drained if compromised.
You can usually do all this with online banking.
 
Last edited:

Local Host

Level 25
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Well-known
Sep 26, 2017
1,406
Honestly considering it's only the third time in three years, there's a higher chance someone at your home is instead using your card.

Also keep in mind Paypal tends to be slow processing payments since COVID, something you bought today can happen to only be charged days after, raising red flags were is none.
credit cards are better than a debit card. a debit card is like using cash. anyone can steal it and use it. [just my opinion].
Sorry but we live in 2021, both VISA and Mastercard protect their Debit Cards, and by EU law there are safeguards in place for online purchases.

The fact people think Debit Cards using your own money is bad, is ridiculous at best, banks surely are doing a good job at advertising in your country, with Credit Cards you borrowing cash and paying back with interest.
 

mkoundo

Level 6
Verified
Well-known
Jul 21, 2017
267
I would call the bank to cancel the debit card and order a replacement.

Try to use a credit card for buying goods/services wherever possible as you'll have more protection than a debit card. Do not draw cash on credit cards.

For online purchases use paypal or even better a one-time virtual card e.g. revolut

It's also worth opening another account (eg revolut) for your day-to-day expenses, topped up with a small sum, to keep your main account isolated.
 
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Brie

Level 10
Verified
Well-known
Jan 1, 2018
453
Sorry but we live in 2021, both VISA and Mastercard protect their Debit Cards, and by EU law [1]
i am not in EU.
there are safeguards in place for online purchases.

The fact people think Debit Cards using your own money is bad, is ridiculous at best, banks surely are doing a good job at advertising in your country, with Credit Cards you borrowing cash and paying back with interest. [2]
I PAY MY CREDIT CARD BILL RIGHT AWAY. sorry about the caps.

a mugger can grab your debit card and spend it, as as i know.
 

Local Host

Level 25
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Top poster
Well-known
Sep 26, 2017
1,406
i am not in EU.

I PAY MY CREDIT CARD BILL RIGHT AWAY. sorry about the caps.

a mugger can grab your debit card and spend it, as as i know.
Sorry but no one can grab my debit card and make any purchases, is as secured as a credit card (as I stated above, both VISA and Mastercard do this by default nowadays).

Especially online purchases that are under a 2FA system enforced by law.
 
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