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No. of Recommendations: 10
neveragain,

You wrote, ... For cc fraud, you just speak to a CSR, but for debit fraud I had to walk into a branch just to sign a form after several phone calls. Silly and a waste of my time.

And it can get a lot worse. The investigation for debit card fraud is at the discretion of your bank, not transaction processor (Visa or MC). I've seen banks give temporary credit only to reverse the credit weeks later without warning. It can come as a nasty surprise.

Also once the bank rules against you, the fight and what you can recover are regulated by different rules than credit cards. The dispute process for credit cards is regulated by the Fair Credit Billing Act, while debit cards it's regulated by the Federal Reserve's Regulation E. Regulation E places stricter standards on the card holder and recovery can be more difficult. And if you don't follow the process precisely, you could forfeit the first $500 stolen.

Basically you have more leverage in a dispute against a credit card company. If a bank balks at a debit card dispute, you may need to brace yourself for filing a small claims suit against them. (A friend of mine had to do that before they did the right thing.)

- Joel
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