I need an idiot's guide to suffering debit card ID fraud

magpiecottage

I've not always agreed with Dalesrider but he is right on this.

He talks about the PSD but I would always use FSA rule BCOBS 5.1.11 which, like many other FSA rules, is simply restating EU law.

It says:

(1) Where a banking customer denies having authorised a payment, it is for the firm to prove that the payment was authorised.

(2) Where a payment from a banking customer's account was not authorised by the banking customer, a firm must, within a reasonable period, refund the amount of the unauthorised payment to the banking customer and, where applicable, restore the banking customer's account to the state it would have been in had the unauthorised payment not taken place.

I do not work for a bank - I am simply telling you what the rules are.

dalesrider

magpiecottage wrote: »

I've not always agreed with Dalesrider but he is right on this.

He talks about the PSD but I would always use FSA rule BCOBS 5.1.11 which, like many other FSA rules, is simply restating EU law.

I do not work for a bank - I am simply telling you what the rules are.

Thanks.

We always refer to it as PSD. As its a lot easier

End of the day they are the one and same.

I do work for a bank. I'm simply telling you how we work

antrobus

dalesrider wrote: »

Thanks.

We always refer to it as PSD. As its a lot easier

End of the day they are the one and same.

I do work for a bank. I'm simply telling you how we work

Better still, refer to them as The Payment Services Regulations 2009, which is actually the law. It requires a payment provider to "immediately" refund the amount of the unauthorised payment transaction to the payer; none of this nonsense about a 'reasonable period'.

Curiously enough ING (for one) have only recently amended their T&Cs to comply with the PSR 2009, as opposed to BCOBS 5.1.11 which appears to be err, wrong.