Fraud

crazyguy

They can claim all costs incurred from bank charges to telephone calls postage and the likes keep full records and receipts for anything spent here, and I think the delay factor here is merely down to the way debit card transactions take a couple of days to actualy come out of an account and then go into the requesting parties account, even with this it should not take no more than a few days to resolve, as being fraud the bank should just be able to take the money back there and then and even if it cannot then they should reimburse and await it themselves.

If you any more delays email here : The e-mail address you require is
[EMAIL="mattcolebrook@firstdirect.com"]mattcolebrook@firstdirect.com[/EMAIL]

Chief Executive

Naf

jalexa wrote: »

Well perhaps, but in practice within the pending household expenditure of the "available balance" that is what is important. As the OP indicated by reference to "overdraft".

It's just something I'd watch for the bank throwing back at you if you try to use the date the available was affected. Not saying I agree, but its good to be prepared.

Naf

Bloomberg wrote: »

I am almost sure that the reason why the payments are allowed to go through is because the once a merchant accepts a VISA/Mastercard payment it is guaranteed. I am guessing that the merchant will get the money and that VISA or FD will take the hit. Millions are lost every year through this kind of fraud this is small beer when compared to the Billions which banks make.

There are three different agreements in operation when you use a debit card to pay for something. There's your agreement with your bank, your bank's agreement with Visa/MC and there's Visa/MC's agreement with the merchant. The only one you should need to worry about is the one between you and your bank, and they should be able to refund it themselves and fix it with VISA afterwards; but this never seems to be the case. Those three days ought to be a useful buffer for customers to help prevent them being adversely affected by fraud; so the transactions would simply be stopped from the customer's account, but the money still paid out to the merchant, leaving the bank and VISA to argue amongst themselves. the end result is the same, but its better for both merchants and customers.

kim_kat

Thank you all for your replies.

I have just spoken to my Mum and the bank has now cleared everything up! Indeed, the person orginially spoken to from First Direct provided mis-information. The payments were confirmed and went through last night, but FD have now put the money back into my parents account, and are claiming the money back from the companies involved.

Now we know for next time though!

Toe-Jam

There is a clause in the terms and conditions that once a debit card payment has been authorised it cannot be stopped for any reason. This is why it must completed and then be claimed back. At this stage in the fraud there is no evidence that the account holder did (or did not) make the transactions.

Once they have been posted to the account the investigation can begin, it is at this stage the "reasonable time" to get the money back comes into effect.

izools

kim_kat wrote: »

Thank you all for your replies.

I have just spoken to my Mum and the bank has now cleared everything up! Indeed, the person orginially spoken to from First Direct provided mis-information. The payments were confirmed and went through last night, but FD have now put the money back into my parents account, and are claiming the money back from the companies involved.

Now we know for next time though!

One thing to look out for - they refund the money whilst disputing the transactions.

If any of the disputes fail they will take the money back out of her account.

I have had this with HSBC when disputing a transaction, the company concerned provided HSBC with sufficient "evidence" for their VISA chargeback team to take the money back out of my account.

And they were clearly in the wrong for doing so as I ended up with a refund from the company concerned after several threatening letters anyway.

Good luck, and watch out for this