Debit card protection? is there any now?

opinions4u

There is no such thing as a "fraudulent transaction" when it's Verified By Visa or even verified with Securecode.

You reckon?!

No system is foolproof.

MoneyMagic01273

Anthorn wrote: »

You know that for sure or are you just speculating?

In practise, by using Verified By Visa you have both verified that you are the owner of the card and have verified the purchase. When used with a protected credit card the bank may well do a charge-back if the goods are not received. But for a debit card highly unlikely but not impossible.

There is no such thing as a "fraudulent transaction" when it's Verified By Visa or even verified with Securecode.



http://www.visaeurope.com/en/businesses__retailers/retailers_and_merchants/security/handling_visa_payments/card-not-present_sales/verified_by_visa.aspx

The question here is not one of Card fraud - which is where Verified by Visa comes in. You are right that if the CM was claiming that the card was not used by them, that they may come unstuck or find that harder to prove if the transaction was verified.

However the OP is looking to claim under the chargeback rules here - they are not claiming it as a fraud transaction. Chargeback rules can provide "some" protection and opportunities to claim money back for card holders, in the event that a merchant fails to fulfill their part of the purchase - for example the goods are not recieved.

Verified by Visa is a fraud measure. Its completely irrelevant in cases where you fully accept it was you that made the purchase but instead you have a service dispute with the merchant.

meer53

Anthorn wrote: »

You know that for sure or are you just speculating?

In practise, by using Verified By Visa you have both verified that you are the owner of the card and have verified the purchase. When used with a protected credit card the bank may well do a charge-back if the goods are not received. But for a debit card highly unlikely but not impossible.

There is no such thing as a "fraudulent transaction" when it's Verified By Visa or even verified with Securecode.



http://www.visaeurope.com/en/businesses__retailers/retailers_and_merchants/security/handling_visa_payments/card-not-present_sales/verified_by_visa.aspx

I don't know where you work, but i work in the fraud and disputes department of a bank. So i'm not speculating.

I think you should take a few minutes to check your information before posting, posting totally inaccurate information doesn't help anyone.

It's a well known fact that fraudsters can change security details on Verified by Visa and there are many, many fraudulent transactions made this way.

Transactions which are Verified by Visa can be disputed in the normal way, whether they're genuine or not.

Consumerist

I really don't know why "Verified by Visa" was even introduced into this discussion. It seems to have nothing whatsoever to do with the OP's problem.

meer53

Consumerist wrote: »

I really don't know why "Verified by Visa" was even introduced into this discussion. It seems to have nothing whatsoever to do with the OP's problem.

Me neither but Anthorn seems to think otherwise.