Comments on: Regulation E: Understanding Debit Card Fraud Rules

By: Bev

Bev — Sun, 22 Jan 2012 18:10:54 +0000

My son used a debit card at a bowling facility for his daughters bday party. One week later he saw a pending $400.00 charge on his account that he didn’t authorize. He called the bank they froze account and now he is worried that charge will go through. Does anyone no if it will are is it froze?

By: cody

cody — Sun, 09 Oct 2011 05:26:14 +0000

a couple of days ago i heard an ad on the radio about a free list of forclosed homes so i called and agreed to a charge of 1.99 but i just looked at my account on the computer and there a charges to three companies that i did not authorise totaling 54 dollars. how do i go about resoulving this situation. i have checks in the mail for bills that will not clear now.

By: RonW

RonW — Thu, 02 Sep 2010 19:27:58 +0000

With regards to the “just in case”, What the bar is actually doing is doing a preauthorization against your card to make sure the card is good. If you sit down at the bar and ask to open a tab, the bartender doesn’t know how much you plan on spending. He will send a set dollar amount through to the the card company to see if the money is there. This is known as a pre-athorization and is not actually a charge to the account. When you close the tab out, the bar sends the posting item through for the correct amount and the pre-auth. amount is dropped from the account.

By: Sarah Jones

Sarah Jones — Sun, 18 Jul 2010 14:51:22 +0000

I put in a claim for 56.97 to Bank of America in February. it is not July 18th. On the 16th of July they reversed the temporary credit and all of its overdraft fees equal to 210.00 (according to reg E can they do that? I thought they only had 90 days to complete an investigation and notify me of the results.

By: Jim

Jim — Tue, 22 Jun 2010 11:26:24 +0000

Call the bank asap and ask them, a debit card and a credit card offer similar protections.

By: Mike

Mike — Tue, 22 Jun 2010 06:45:13 +0000

My friend just got scammed big time from some real estate infomercial seminar/workshop thing. Problem is that she used her debit card. Charge was on June 11th, Issuing bank is Wells Fargo.. Is there anything she can do to get her money back? I feel so bad and wish she had asked me first, but no such luck, just trying to help her out.. Thanks for any advice!

By: Justin

Justin — Fri, 18 Jun 2010 14:07:27 +0000

Well debit cards are a consumer product so if a business has a loss due to fraud or error the bank isnt required by reg e to do anything. If the institution issues business debit cards im sure they state this in the documents you signed to get the card.

By: Kris

Kris — Sat, 01 May 2010 10:21:44 +0000

Summer, I have the exact same situation: 1300$ disappeared when someone abused my card to make online purchases in Uruguay and Chile. The Bank claims it cannot do anything, and so do the Merchants. Basically, Debit Card Safety Guarantees are all but safe (in my case ING Direct claims it is safe through its ORANGE GUARANTEE SAFETY, which in fact is a total Scam). I will fight until the very end, since ING Direct doesn’t do anything to help me get my money back. When Debit Fraud is committed, the customer is screwed, as simple as that. Debit Cards are totally UNSAFE, but Banks keep silent on the facts, as the have vested interests: to SELL Debit cards as much as possible. The banks don’t give a shit about your safety, and are very happy to make you liable for the problems THEY cause to you.

By: Dorothy Gerber

Dorothy Gerber — Sun, 14 Mar 2010 19:27:26 +0000

Does Reg E pertain or cover businesses and does a bank need to give provisional credit if the dispute is an error and not fraud?

By: summer

summer — Fri, 12 Feb 2010 07:25:25 +0000

My credit union debit card was stolen in Ecuador. A fraudulent charge for $1,000.00 was made with it. I had already cancelled the card but somehow they still made the transaction, possibly swiping the card before I called the bank. I filed a fraud claim and the so-called “company” that made the fraudulent charge disputed the claim. Because of that, they are getting my money. I don’t understand why. How can I fight this?

By: terry

terry — Tue, 12 Jan 2010 21:27:11 +0000

On 4/02/2009, we made a bank electronic transfer to a company for a morgage modification. After being jerked around for the past 9 months, we found that this was more than likely a scam. Can we recoup our money using regulation E or some other method through our bank or the bank where the transfer was sent?

By: Jim

Jim — Thu, 26 Nov 2009 04:16:07 +0000

Yes, they will send you information about the result of their investigation.

By: missmarple

missmarple — Wed, 25 Nov 2009 23:10:29 +0000

Are you notified when the Provisional credit becomes Actual after the investigation?

By: megan

megan — Mon, 02 Nov 2009 20:45:30 +0000

The time frames for reporting the fraud are within 60 days under reg e and if the purchase was not pin based Visa allows 120 days. When using a debit card always press credit this way you are covered under Visa’s rules as well as reg e.

By: Anonymous

Anonymous — Sun, 14 Jun 2009 06:23:14 +0000

re-evaluate! not re-open…. =)