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"Consumers may not get compensated following debit card theft"

By admin | February 26th, 2008 | General

A recent report has shown many banks in the UK are refusing to compensate customers who have had their debit cards stolen and money taken from their accounts. Although Chip and Pin, which has been in use in the UK for some years, is supposed to reduce the risk of fraud it is not fraud proof by any means, and fraudsters have been able to steal cards and clone them, placing a new Pin number on the card, which is known as a YES card.

When YES cards are used it appears to the bank that the original card and Pin have been used, and because of this many banks claim that the customers may have passed his or her details onto someone, may have been careless with his or her card and details, or may even have carried out the transaction themselves. As a result of this they are often refusing to compensate the customer following the theft and use of the card.

One angry customer explained how he had been refused compensation by his bank after his card was stolen and was then used to take hundreds of pounds out of his account. He said: ‘They said I was irresponsible with my Pin number, but I said there is no way that could have happened. I have had the same Pin for six years and haven’t written it down anywhere. I recited the 12-digit number on the card then and there, as well as the Pins to all of my debit and credit cards. I don’t forget things easily.’

The customer added that he also had a Halifax card stolen at the same time, and that this was also used to withdraw cash from his account. However, the Halifax did compensate him with a refund.

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Post A Comment:

  1. can any1 advise me,i opened a new account with the halifax and was sent a card and pin which never arrived and was used to take out 2200 pounds from my account,the halifax say this cant happen as the cards and pins come from different parts of the country and refuse to pay my money back,any advise would help me thanks.stephen

    Comment by stephen hurst — December 11, 2008 @ 8:09 pm

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