just got back shopping at plaza west and kmart. came home checked my email. was notified by BOA that fraud had been perpetrated on my account
just a little warning-keep an eye on your account
possible since those were the only 2 places that i shopped at in the past week and these charges happened today
it could have also been a skimmer or someone had a reader. but yep-whatever happened, it was one of those 2 places
but, no where did i imply it was the workers who work there
mine was fraud. i was extremely impressed. i check my account every day and would have noticed it. just glad they were on top of things with such a quick response
the last time it happened, it was with a first bank card. i noticed it and called them up and i filled out the paperwork and the money was in my account within days. that one had only been used at 2 places. an online store and a gas station.
remember last year when everyone was having problems. just keep an eye out on your accounts
you were incredulous? seemed to think it couldnt be done. thought you might want your own verification
Your assumption was incorrect. It does seem incredulous but it's good to know that things have apparently improved a lot - although I imagine the "overzealous security" which CruzanIron mentioned could be a real pain.
These days, credit card issuers have fraud detection systems which run in real time, and scan for certain patterns, such as purchases at odd times and locations, big ticket items, the type of merchandise never purchased before by the card holder, etc. When a suspicions transaction is flagged, the card issuer can quickly disable the card and notify the owner. So, it's not uncommon at all that this happens almost immediately. After all, it's in the credit card issuer interest to protect itself from the loss (because by law, the credit card owner is only responsible for the first $50 in losses resulting from the fraudulent transactions).
The type of software systems which detect fraud are AI (artificial intelligence), coupled with the so-called "Big Data" systems, which are now prominent in all types of automation, based on machine learning concepts, not just in fraud detection, but in a huge variety of other fields.
All kinds of activity could trigger a fraud alert which may not mean that fraud occurred. My bank will leave an automated voice mail for me to call back to confirm if there is a question and the call back is handled with the automated call system as well. One time just cancelling a gas pump card transaction and running it again caused an alert. The problem was something with the pump.
I get notified by my bank immediately, by cell phone, if they detect a fraudulent charge.
I remember an instance when at a gas station....the attendant swiped my card twice....within seconds my bank was on the telephone asking me if I was currently at that location and telling me that my card was swiped twice within a few seconds. We stopped the second charge from occurring.
1) Gas stations (Notorious for skimmers. Always pay cash.)
2) Online purchases (If you must, use credit card NOT debit card, ever.)
3) Restaurants (Fraud city. As for handing over your credit or debit card to a waiter or waitress, forget about it. See #1.)
4) Retail stores (Remember Target. Again, if you must, use credit card NEVER debit card. At least you'll have some measure of protection in case of fraud.)
A once little advertised option improving the security of debit cards is to swipe the debit card and, instead of entering the PIN, press the "credit" button instead of the "debit" button, if the terminal offers this choice. This will generate a receipt which the user must sign at the point of sale as with a typical credit card transaction. The money will still come out of the checking account, but the transaction will be routed through a different network. This method gives the user the protections of a credit card purchase.
It's pretty amazing (if not incredulous) that within just a couple of hours - and on a weekend day - a bank could not only determine fraudulent use of your card but could notify you so quickly.
UH... yea... thats correct - they're that fast. Thats the whole point of the service. Ive had my CC skimmed or hacked three time sin STT ion the last year. I get a call immediately and they shut everything down until I confirm the purchase. I also have 24/7 365 live customer service with NO prompts. Chase Sapphire Preferred card. Its my favorite travel card as of right now. From my Africa trips and just everyday purchases I was abel to get two free tickets to Costa Rica.