Mary Branscombe (marypcb) wrote,
Mary Branscombe
marypcb

Credit card fraud: what happens when you spot it?

It's been a bad month for fraud; luckily the money is back in my business account, but the credit card still has £100-odd of transactions from India on. The credit card provider had plenty of time to notice them, write to me, block my card and I spoke to them the day we landed to say no, I have not been to India, these are not my charges. Even so, they will still take the money from my bank account and refund me 'on the next statement'. I shall be discussing this with them again tomorrow, when there is a supervisor to speak to, as this is not the way I expect John Lewis to behave (current plan: cancel direct debit, make payment of legitimate transactions, tell them I do not intend to lend them the money to cover the fraudulent transactions and will take it to the financial ombudsman if they charge me interest on the money I don't owe them).

The last time this happened, I noticed the difference between how different banks and issuers handled this. First Direct handled it without any fuss, as did Nationwide and Alliance & Leicester. Egg said they would not take the money and then did, promised to refund it immediately (over £5,000 because it was over the Christmas break) and didn't; I was very grateful to First Direct for asking why I was asking about the same transaction every day and revoking it under the Direct Debit Guarantee on the spot. It took weeks to get back the lost interest and overdraft charges involved.

This time, MBNA said they will take the money and refund on a later statement even though the direct debit payment would not be raised for a couple of days; First Direct said if it was their credit card either they would not take it or they would refund it as soon as they could. What do other banks do? If you've found fraudulent transactions and you'd like to share your experiences at how it was dealt with, please do (and I've never asked this before, but please do pass this on to your friends list if you feel it's appropriate - I think a wide sampling of responses could be useful to quite a few people. I currently have the poll and responses set as public: if you feel the responses should be private, do say in a comment and I will change them and publish a summary instead). Thanks...

Poll #1304161 Credit card fraud

Have you suffered from credit card fraud?

No
8(21.6%)
Yes
17(45.9%)
Yes - more than once
11(29.7%)

Who noticed the fraud?

I saw it on my statement
9(31.0%)
My credit card provider asked me about it
5(17.2%)
My credit card provider blocked my card because of it
7(24.1%)

Which credit card provider is responsible - if you're happy to say

Did your credit card provider charge you for the fraudulent transactions?

No, they took them off the bill
19(65.5%)
Yes, but they refunded the charge within a few days
4(13.8%)
Yes, and they didn't refund the charge until the next statement
6(20.7%)
Tags: money
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