£0.01 transaction attempted by company

Minxminnie

I had a notification on my banking app of a £0.01 transaction at TK Maxx, where I hadn't shopped for a while. My bank told me "we see this a lot, where the company tests your card to see if it is still active", and mentioned GDPR. I was unhappy about this, so I checked with TK Maxx who denied it. The money never left my account, and I was reluctant to cancel my card because I'm about to go away, and I didn't want a card arriving to an empty house.

Has anyone else encountered this? If someone has stolen my card details, how could they spend one pence at TK Maxx? Is there any truth in what the bank has said?

TIA!

efes_shareholder

i had this before 1p donations to charity which i believe are a test before they hit your account

i would have it re issued to be on the safe side

eskbanker

https://forums.moneysavingexpert.com/discussion/6659555/0-01-transaction-attempted-by-company

As you accept, the money didn't leave your account - it's not spending a penny as such but simply seeking an authorisation (knowing that it won't progress to an actual debit).

It's vanishingly unlikely that it's anyone other than TK Maxx doing this rather than someone else getting hold of your card details, although it's unclear why they'd be doing it without your knowledge…

PRAISETHESUN

Personally I'd be getting the card reissued. At the very least, make sure you freeze the card through your online banking. It might be nothing, but it also could be an early sign that your card has been compromised. IMO it's better to weather the inconvenience of getting a new card issued than the inconvenience of having money taken from your account and then having to fight to get it back.

surreysaver

Have you ever shopped online at TK Maxx? If so, you've probably stored your card details with them, and they're checking the card is still active.

If so, go online to TK Maxx and delete your card details.

Minxminnie

Thanks folks. I haven't shopped online at TK Maxx and if I had, it would have been with another card. I think I will get the card reissued, on reflection. but I'm concerned that the bank says "we see this a lot" and blame the company: I wouldn't want the hassle of cancelling my card if it was companies messing me about.

Nasqueron

https://forums.moneysavingexpert.com/discussion/comment/81921824#Comment_81921824

Issuing a new card won't do anything if the firm has the details legitimately as the system will allow them to auto update

ChargebackCharlie

https://forums.moneysavingexpert.com/discussion/comment/81924645#Comment_81924645

The auto update only happens when there is a Continuous Payment Authority (CPA) in place and even then, it only happens if the firm has paid the card schemes to receive the updated card details.

You wouldn't normally see a CPA for a retail merchant (excluding things like Tesco Delivery Saver), these are usually only found with services like Netflix, Spotify, Car breakdown cover, Insurance and such like.