Tags: chase | debit | cards | target

Chase Debit Cards: Target Scam Prompts Limits for Bank's Customers

Monday, 23 Dec 2013 12:13 PM

By Clyde Hughes

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
JP Morgan Chase announced Saturday that it is limiting daily debit cash advances on two million cards to decrease exposure to the kind of fraud incidents like at Target stores.

USA Today reported Chase will hold customers to a $100 limit per day on their debit cards. The bank said in a statement that tellers at its branches can assist customers if they need additional funds.

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll

Chase customers will not be able to purchase items that cost more than $300 online with their debit cards. The bank told USA Today that it will open one-third of its branches on Sunday to help customers. Customers can find the open branches through Chase.com.

Chase is asking debit card holders to monitor their accounts and to quickly notify them of any suspicious activities.

"We realize this could not have happened at a more inconvenient time with the holiday season upon us," Chase said on its website. "We are taking these precautions to combat fraud and prevent criminals from using Chase cards. Thank you to all of our customers for your patience."

Customers will not be held liable for unauthorized transactions reported to the bank, and its own fraud-monitoring systems will help identify potential illegal purchases.

Chase's action is in response to data theft of 40 million debit and credit cards from various banks used at Target stores from Nov. 27 to Dec. 15. Criminals possibly collected names, numbers, expiration dates and data taken from the magnetic strip when the cards were swiped.

Target said it did not believe that debit card PINs, the four-digit personal identification numbers, were taken in the breach.

"Banks are putting various precautions in place," Target spokeswoman Molly Snyder told Reuters.

Other major banks, like Bank of America and Citigroup, said Saturday that they took steps to protect accounts but would not be specific.

"It seems like the banks are the 'Grinch who stole Christmas,'" Jamie Court, president of Consumer Watchdog, a Los Angeles consumer advocacy group, told Reuters. "It is Target's fault, but children across America are going to bear the price ... The banks are protecting themselves."

Editor's Note: ObamaCare Is Here. Are You Prepared?

Related Stories:

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Bus Driver Takes Cane From Blind Boy, Replaces It With Pool Noodle

Thursday, 18 Dec 2014 15:07 PM

A Kansas City school bus driver took away an 8-year-old blind boy's cane this week and replaced it with a pool noodle, o . . .

Atheist Group's Billboard Battles: Signage Slams Christmas, Christians

Thursday, 18 Dec 2014 14:41 PM

The American Atheists have launched an anti-Christmas billboard campaign to help "in-the-closet atheists who are pressur . . .

Trump's Christmas Card 'Fires' Obama, Invites Fans to Share Resolutions

Thursday, 18 Dec 2014 14:22 PM

Donald Trump issued his 2014 Christmas card via social media this year, firing lame duck President Barack Obama with his . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved