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Bank can't cancel a fraudulent visa transaction

Today I noticed from my bank's online interface that the 'available balance' on my account was around 2000 less than the current balance. Wondering why, I phoned the bank...

"Oh, that's because a transaction of 2100ish [not sure of the exact amount] has gone through on your debit card - the transaction was made yesterday in the US."

So I explain that I haven't spent that money and it's a fraudulent transaction.

"Yes, we've been having a lot of trouble with that kind of thing lately."

Well, OK - these things happen. I ask the bank to cancel the transaction and stop the money leaving my account.

"We can't stop the transaction. The money might leave your account tomorrow; it might not. If it does, we'll send you a form to fill in, and then we'll credit it back in a few days."

Now, call me cynical but I did detect the faintest aroma of BS. They know it's a fraudulent transaction, yet they can't stop the money leaving the account? Aside from the annoyance that I currently can't draw against the money I thought I had because some scammer has emptied the account, is this normal for a visa transaction? Or is my bank fobbing me off?

Chris

Reply to
Chris Laird
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This is a very good reason to always try and use a *credit* rather than debit card for purchase transactions as there is less chance of your card details leaking out. At least then it's the CC card companies money that gets frozen rather than your bank cash, although if it's your only credit card you may find you can't use it till the problem is sorted.

Reply to
Adrian Boliston

Complete and utter BS! Give them hell on the phone and follow it up witha letter sent by recorded delivery.

Reply to
Peter Crosland

Chris,

It wasn't Lloyds bank was it? last year I had a similar problem, when I asked the bank they said the 2000 difference was down to computer problems, and they removed the reserve on the 2000 so the available and current balance were the same.

However the next day the 2000 disappeared from my account (debit card), after a number of phone calls, visits to the bank, they eventually agreed to repay the money to my account (took them 30 days to do it!!).

Simon

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Reply to
Simon

I hope you charged them interest on it at unauthorised overdraft rates. Plus a management fee, of course.

Reply to
Ronald Raygun

I do recall a problem being sorted out very quickly by my Credit Card issuer when I paid off everything except a disputed amount and told them I'd start using the card again after they had sorted it out.

Reply to
dp

"Simon" wrote in news:cdahoo$t3o$1$ snipped-for-privacy@news.demon.co.uk:

No, Abbey National (business)

I think I got lucky as the transaction doesn't appear to have gone through.

Chris

Reply to
Chris Laird

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