Stolen debit card - fraudulent transactions

squeck

Hi, I was wondering if anyone could help me?

I have a HSBC debit card which was stolen along with my wallet in a very busy bar. I can only assume that it was targeted, as my PIN was also compromised.

This happened on Monday morning at about 2am and I reported the card stolen around 10am and had my card cancelled. However during that period there was £300 withdrawn over 4 transactions from cash machines, and 2 debit card payments of £1627 and £840 all made via my debit card, leaving me with almost £0 in my current account.

I've reported these as fraudulent, and HSBC will take 5 - 7 working days to investigate. If they decide not to cover it, then I have their CardGuard protection but this will take an additional 7-10 days, potentially leaving me with no money for 3 weeks.

I was wondering if there was anything I could do to resolve this more quickly?

The debit card payments were showing as authorized on Monday (7th), but didn't leave my account until today (9th). Multiple employees at HSBC informed me that these payments couldn't be cancelled by any means during this time and I would have to wait until the money left my account before the investigation could start.

They have also stated that I can potentially do a chargeback, but that this will be done as a part of the investigation so may or may not happen and would also take 5 - 7 working days.

The payments were made to a company "Top Case 2 Ltd" which don't appear to have a website, or any stores. Looking at companies house there have been similarly named companies such as "Top Case Ltd" which are now dissolved and had the same director. The accounts also show a minimal amount of money going through the company.

Does anyone have any ideas? Thanks in advance

Matryoshka

squeck wrote: »

Multiple employees at HSBC informed me that these payments couldn't be cancelled by any means during this time and I would have to wait until the money left my account before the investigation could start.

Ironically, ours was compromised on Saturday (they left us with £2). We found out on Sunday and duly called The Halifax. They blocked the card. We called fraud department yesterday and because the money was still pending in our account i.e not yet been paid out, halifax put a stop to this and transferred all the monies back into our account.

Don't know why HSBC had to wait until the money left your account :mad:

squeck

It seems pretty ridiculous to me, as the company looks pretty dodgy so I can't see HSBC getting the money back from them.

However, everyone at HSBC confirmed the same process - about 5 separate people in total. The last person I spoke to reckoned that only the merchant bank could cancel a transaction in progress, and they had no way to contact them. :mad:

blacksta

hOW was you PIN compromised. is your pin written on your card?

squeck

blacksta wrote: »

hOW was you PIN compromised. is your pin written on your card?

No. At no point have I written down my PIN, or told anyone else. However the bar I was in when it was stolen was extremely busy, and I made a single card payment at the bar, so I can only assume someone watched me type in my PIN, then pick-pocketed my wallet.

meer53

Once fraudulent transactions debit your account, your card issuer should refund you straight away whilst they carry out their investigation. They have to refund you under Payment Services Directive regulations. I'd call them back if i were you and request a refund today.

The only problem i can see with your liability is the amount of time between your card being taken and you reporting it stolen. They may argue that you haven't notified them within a reasonable time. PIN verified transactions can't be charged back so HSBC will be standing the loss on these, this may be why they are reluctant to refund you.

Have you reported this to the Police ?

Top Case 2 Ltd appears to be a luggage supplier based in Edgeware.

squeck

Thanks meer53. Yes I've reported to the police and obtained a crime reference number, although HSBC don't seem to want this. I'll give them a ring back right now!

squeck

Well they didn't wholly accept the Payment Services Directive regulations, as apparently there are some types of transactions which are exempt - such as PIN authorised fraud.

However, my persistance has paid off and after speaking to several people and a supervisor they fast tracked my investigation to today. A member of the special investigation team called me back, it has been accepted as fraud and will be refunded today!

Thank you so much all!

zagfles

To avoid this hassle in the future, always enter your PIN in such a way that nobody can see it - it's quite easy even if you only have one hand free, just look where the numbers are then put your whole hand on the pad and press the numbers with different fingers, perhaps with a "pretend" press in case anyone is watching really closely!

Don't do what most people seem to - a really obvious single finger move from one number to the next:eek:

kizkiz

zagfles wrote: »

To avoid this hassle in the future, always enter your PIN in such a way that nobody can see it - it's quite easy even if you only have one hand free, just look where the numbers are then put your whole hand on the pad and press the numbers with different fingers, perhaps with a "pretend" press in case anyone is watching really closely!

Don't do what most people seem to - a really obvious single finger move from one number to the next:eek:

It's worrying how many people are clueless about this.
Just stand in any queue, in any shop, and i guarentee you can see 99% of th epins entered in front of you. :eek: