Am i held liable for any unauthorized debit card charges?

Asked over 1 year ago - Brooklyn, NY

My debit card was stolen and a thief pulled out over $2,000 after what my card was apparently blocked. I reported the bank (Chase bank) immediately because i get notifications. Now what happens to my money? Will I not get it back? I heard that people get money back when this happens to credit cards but what about debit cards?? I'm so frustrated I don't know what to do, I contacted the bank right away but it's been only 2 days since this incident happened and I don't know what to expect...Is there a chance I will get my money back? And if so, how soon? Thank you in advance!

Attorney answers (2)

  1. Howard Robert Roitman

    Pro

    Contributor Level 16

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    Answered . Your liability for unauthorized charges depends on whether the thief personally presented your card to make the purchase, or made the purchase over the Internet or by phone.
    If the thief personally presents your card to make the purchase, the card issuer cannot hold you liable for more than $50 in fraudulent charges. Many card issuers waive this $50.
    If the thief uses your card by phone or the Internet, you have no liability.
    In either of the above situations, however, it's important to notify the card issuer as soon as you know of the theft. If you wait, the creditor may not believe that the card was really lost or stolen

    The materials available at this web site are for informational purposes only and not for the purpose of providing... more
  2. Amy Lavonne Wells

    Pro

    Contributor Level 14

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    Answered . I'm sorry to hear you've fallen victim to an identity theft. Credit cards limit your exposure to unauthorized charges in excess of $50.00 when timely disputed. Debit cards aren't always subject to the same benefit. The best place to find out what protections are available to you with respect to your debit card are in the written agreement with the bank.

    I will be posting about this topic on our firm Facebook page in the coming days (to follow us, go to: www.facebook.com/OhioConsumerHelp).

    Also, if you haven't done so, I would suggest filing a police report. Provide a copy to the bank in support of your position. As their customer, they may be willing to work with you notwithstanding the language of the agreement.

    If you get the agreement and still uncertain of what's protected and what's not, consult an attorney in your area to help understand the fine print. Good luck to you. I wish you a speedy resolution!

    NOTE: This Answer does not constitute legal advice. Every case is fact specific. To render a legal opinion, an... more

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