Skip to main content
No. of Recommendations: 10

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
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.