Credit card details compromised... again

aroominyork

For the second time this year Nationwide are cancelling and re-issuing my Visa card. In response to a question I sent them Nationwide said: “We receive information from different sources about potential compromises of card details. This information comes from within the financial services industry and from law enforcement agencies. We have reason to believe your card details may have been compromised. As a result of this we have placed your account into an increased state of security as your card needs to be blocked and replaced. Unfortunately, we are not always informed of where the card data may have been compromised and legally we cannot provide any further details.”

I have a stack of payments linked to my credit card and re-setting them to a new credit card is a heck of a nuisance. Is there anything I can do to reduce the chance of this happening or must I accept it as the way things go these days?

eskbanker

aroominyork wrote: »

I have a stack of payments linked to my credit card and re-setting them to a new credit card is a heck of a nuisance.

If these are recurring payments under a continuous payment authority then chances are that the recipients of the payments will be updated with your new card number by Visa automatically rather than you needing to do so manually:

https://forums.moneysavingexpert.com/discussion/3228658/visa-account-updater

Shakin_Steve

eskbanker wrote: »

If these are recurring payments under a continuous payment authority then chances are that the recipients of the payments will be updated with your new card number by Visa automatically rather than you needing to do so manually:

https://forums.moneysavingexpert.com/discussion/3228658/visa-account-updater

Perhaps...but every account still needs checking to be certain of avoiding a late/missed payment.

[Deleted User]

This isn't the fault of Nationwide, more the retailer who has potentially been hacked or compromised.

Better to be safe than sorry - at least Nationwide are being pro-active about the situation

aroominyork

!!! wrote: »

This isn't the fault of Nationwide, more the retailer who has potentially been hacked or compromised.

Better to be safe than sorry - at least Nationwide are being pro-active about the situation

Except that they've sent me letters yesterday and today to say they have not paid a transaction due to suspected fraud - yet it's a standing monthly payment I've had going through for years. I've asked them to investigate because if that is the reason I will be well p1ssed.

[Deleted User]

Better to be safe than sorry

eco_warrior

While it’s annoying it’s not the banks fault for stopping your card. No winners in this situation but at least there was no fraud.