Bank Account drained

[DesertRose]

Anyone else have this problem on the road? Used my card many times since April 17th before landing where I am now.

My bank account was drained 12 days before payday on June 23. I had to beg, scream, wail and demand that the bank to replace the money that was in there. Then I had to call after gathering groceries and get them to unblock the card, make the purchase and then they blocked the card again.

A security expert told me the latest tech is the criminals run a counter. When the counter hits the exact amount of your balance, a light or bell goes off, they push a button and your balance goes to zero. Mine was listed as a transaction at Nordstrom in Glendale, California. I was told this is bogus too. Nordstrom never saw the money.

That wasn't the only problem. My bank created even more of a major clusterf--- for me when two different employees lied and said:

1. They changed the address of my physical address and PO Box (they didn't).

2. They can't mail a new card to a PO Box (they can).

3. They mailed my new card to my old address 900 miles away.

4. They said I called too many times (this was the 4th call to inform them they sent the card to the wrong address). Their system locked me out, even though I identified myself SEVEN different ways. When I filed a formal complaint, the woman said "they didn't ask you for your online banking ID, that would have worked." I think not.

5. They told me I would have to drive 95 miles each way to the nearest branch to solve the issue in person (that's with no money and no gas to get there until 12 days after it happened).

Oh and this happened on a Saturday. My bank's Fraud Dept, a major banking institution, is closed on weekends.

Furthermore, I have gotten 3 notices from the USPS that they are forwarding the replacement card. It hasn't arrived in two weeks, but they keep sending me notices that it is on its way (it's been blocked and I'm waiting for the new one at my correct address - crossing fingers).

It was hell, but it's over now. I've been thinking about alternatives to plastic. Haven't decided yet. Need more info. The grocery clerk told me she's had a problem and now uses WalMart Pay.

In the meantime, I am requesting that the bank reimburse me the $40 it cost in gas to travel to their brick and mortar.

 

[B and C]

I always use credit, not debit. You are protected against fraud on your cards this way (unless debit has changed). Just pay the bill at the end of the month. Keep your receipts so you know how much you spent.

 

[DesertRose]

I always use credit as well. The policy regarding debit cards has changed. You are protected as long as you catch it soon enough (within the time limit required by each institution). I know how much I spend because I check online frequently. All purchases are listed there.

 

[saratrippy]

I also use credit cards instead of debit cards. I have my cards hooked up so that I get a text notification if any unusual purchases occur. I try to glance at the list of expenses through the mobile app at least once every few days (only takes a minute).

 

[DesertRose]

That's another way my bank fell down on the job. Even though I am signed up for alerts, I did not receive an alert on the fraud/theft item. When I said I wanted to close my account, they convinced me to stay. If it happens again, I'm gone.

 

[Canine]

This is why I use a Credit Union. They aren't nationwide, but should something happen, you will get good customer service. When I call them a person is on the other end.

I also get a type of LifeLock insurance from my credit union at $5.00 a month. It's not a low-rent version of LifeLock; it has all the bells and whistles. I was a victim of identity theft and they made the process soooo much less painful. In 6 months everything was straightened out without me having to fuss and argue with a number of bureaucratic people. I wasn't victimized a second time by a bank, a credit card company, the IRS, or any such thing. Mostly what I was expected to contribute patience while it got sorted out. I was patient and it got sorted out. Happy times now.

 

[DesertRose]

I cannot use a credit union. My credit was ruined by 3 hospitalizations and 2 major surgeries in 2011. My share of the bills was 20% of tens of thousands of dollars. Consulted an attorney who told me not to pay it because hospitals write it off.

My ex husband paid for several years on his 2 heart surgeries. The hospital changed ownership, they called in the remaining debt, he said he couldn't pay it and would continue paying the $200/mo. They sent him to collection and damaged his credit. After he paid for several years faithfully, $200/mo. That is why attorneys tell people not to pay those bills.

My computer guy who is a former military IT/Systems/Security expert, told me there is nothing we can do about cyber theft except use things like LifeLock and Credit Karma (he and his wife use Credit Karma).

 

[Canine]

Not having good credit in this day and age is a bummer to say the least. Sometimes it isn't your fault- things happen. But that doesn't mean much when speaking to banks. I had bad credit at one time through almost no fault of my own and all I ever heard was, "Sorry. Them's the rules."

I have a friend that uses a WalMart debit card and she likes it. It seems to work well for her. She hasn't had a problem loading money on the card and can use the money right away. You don't need to go to the service center to load it; it can be loaded in a check out lane. It's appears to be a good option for anyone with bad credit or good credit.

 

[DesertRose]

That is exactly right: "through no fault of 'my' own." Thousands, maybe even millions of people are experiencing this issue and it isn't fair. At all.

The cashier at WalMart who helped me when the bank unblocked my card and then reblocked it once the purchase was made told me she now uses the WalMart card and it's worked well for her.

 

[John61CT]

Wow, what a nightmare! so sorry for your troubles

I use Serve.com, an AMEX prepaid, like Walmart Bluebird, costs $1/mo but they waive it if you're active.

Can fund via cash for free at Walmarts or any CVS, also via debit card instant transfer.

Not free for withdrawing cash though, I use as plastic and online, good anywhere AMEX accepted.

Can have three sub accounts, all four get a separate card, and instant transfer between them, so spread the risk.

That last is key, not saying put all your eggs into Serve, spread it around so when (not if) stuff happens you have a backup.

 

[jacks18614]

I carry $1k of $20 bills at the start of my yearly 4 month snowbird expedition and when/if that runs out I draw cash out of my PNC debit card only at PNC ATMs which are located at every Walmart gas station in the state of Florida.

My SNAP card gets reuped to the tune of $100/month and that is all I spend on food per month.

 

[LathrenJames]

I'm sitting down for lunch on Mackinaw Island when CitiBank calls asking if I am in Brooklyn NY at White Castle hamburgers. NOPE! One year later, I am still struggling with the damage some goofball did to my credit. I was "cloned". I hate thieves. They are vultures. Parasites. Who raises these monsters... :huh:

 

[cyndi]

What a total PITA. I had two similar experiences. I'm sorry you had to deal with that.

I have no credit cards. I use a debit card but never at an ATM or gas station. The debit card is separate from my main account. My account is set up to text me for any purchase over $10. I check my balance and items clearing the bank, frequently.

 

[LathrenJames]

Thank you. My Bank is great. I get alerted for any Debit Card transactions. I'm kind of perturbed that at this late stage of life. Have to worry about my Credit Rating...but, alas, I do.

 

[JohnHarrelson]

Many years back  (30+) I was educated the hard way on the difference between a CREDIT card and a DEBIT card....

Both CREDIT cards statements and BANK account statements are mailed out once a month.. (the cycles range 28 days to 31 days)

The difference is that if your DEBIT card is hacked or stolen and charges are made on it.. you only have 15 days to contact your bank to lock down your account. Then after a lengthy investigation the bank may (or may not) give your money back to you.

I was told I cannot wait for the next BANK statement (if more than 15 days) before taking action because after fifteen days the bank will not refund my money.

Plus, and this is critical folks ..  any other accounts you may have with the bank like a savings account are "Tied Together" with your checking account (think debit card) .. 

WHICH MEANS.. that the thief can drain BOTH your checking account and any associated accounts like a saving account in just a few seconds..  every last penny you have .. Pooof... Gone. with no recourse likely coming.

BUT... with a CREDIT card you have until the next statement comes out, or longer, to see if an unauthorized charge is on that statement. Then you can call the credit card company and they will lock down the credit card account and immediately issue a new credit card to you and most if not all credit card companies will return your money.  
(I received my new Discover card in just 3 days via overnight mail after calling them)

Your DEBIT card is the most dangerous thing you can carry in your wallet.. Keep it locked up somewhere safe and only take it with you when you need cash from your bank's ATM.

I NEVER use my debit card in an ATM in places like casinos, truck stops, restaurants, shopping malls, etc..  and never in any ATM that does not have my bank's name is on it.

Anything I cannot pay with CASH  ( like over $20 ) I do with one of my credit cards and the total I charge on one (or all of the cards combined)  is never more than I can pay off  IN FULL  when the credit card statement (s) arrive.  I've never paid a penny of interest on any card.

I keep a very accurate ledger that's updated daily showing every transaction with my credit cards, thus I always know exactly what I will pay each month.

Some folks take longer to learn than others, but in my case it only took one time and every penny I had in the bank to learn this lesson.

But to each their own, it's your money and just because I do things this way does not mean that you should..

Best Wishes,
John

 

[wmyers4u]

I'm not on the road yet and I haven't got it all figured out yet but currently I have bank and credit union accounts. Bank is setup with minimum balance to avoid fees and only there for an emergency.

I have my regular checking at the credit union and I keep savings in an account that isn't attached to my atm card.

I don't know if I'll be able to keep the same system set up on the road but I will be looking to try this approach.....Hurry up 2020!!!!!

when possible splitting your money into two piles makes you much less likely to leave you broke when something like this happens.

 

[closeanuf]

I see ads on tv for Brinks who has a card and they send you a text everytime your card is used.  Does anyone have one of  these?

 

[DesertRose]

Thanks all for your input. Cyndi, can't believe you've been through it twice. What a pain.

This is a small town, so I've been using Walgreens for cash back to use at the gas pump. It's a pain but worry free. My bank doesn't even have a simple ATM kiosk in this town. I learned that certain Dollar Trees will give up to $50 cash back, the one here will do $40. I also learned that WalMart doesn't cash back less than $20. When I went grocery shopping there, I bought just enough minus $11 of the balance so I could get $10 cash back for gas. Learning curves.... the fraud dept lady told me, that's all right, just call us back later and we'll unblock the card again. (That would not have worked because the system blocked me after the grocery call.)

For the past several years I've said to myself "well now I know the score on that for future reference." That'd be fine except that the new normal changes almost every month - certainly every year - on just about everything!

Living 25 miles from the nearest *everything* has its challenges!

 

[Deb_A]

I get paid through PayPal, and I learned my lesson long ago when someone from China stole my last $29 from there. It took PayPal 6 weeks to "investigate" and return the money. I didn't even have a bank account at the time, only a prepaid debit card that could accept direct deposits, so I could get my SS check, and it had $5 in it because I had just paid my bills. I had stopped trusting banks when I had BoA and they tried to steal $200 from my account.

The worst part about the whole thing was that I was still working, and they were still paying money into PayPal, but my account was locked, so I couldn't get the money out. I finally talked one client into sending me a paper check for a $200 payment, but he wasn't happy about it.

Luckily, I had a great friend who ran a produce store, and she let me have culls until I could get money in. Perfectly good produce, just not pretty enough to sell.

So now I have PayPal, a bank account, a credit card, AND two prepaid debit cards, which never get used except in emergencies.

My son and I are talking about us having a savings account in both of our names so he can quickly transfer money to me in case I need it.

After that PayPal experience, I would never keep all my money in one place. Scammers are everywhere. Shit happens. You have to be prepared.

 

[Weight]

Here is a direct quote from my debit card security information. Note 60 days from statement.
"Ally Bank (Member FDIC) guarantees that you will not be liable for any unauthorized Online or Mobile Banking transaction as long as you report the unauthorized transaction by calling us at 1-877-247-2559 within 60 days from when your statement is made available."