I've never been with a bank that issues credit cards, and have no first hand knowledge of the operations. I had a compromised transaction recently - the card was in my possession, and was no-where near the state where the transaction was made.

I saw the fraudulent transaction on-line the day after it posted, and contacted the fraud department. Within 2 days, they permanently reversed the transaction. (Much different than Andy's experience.)

Question - Does the bank take the loss, or does it go back to the merchant accepting the transaction? Visa chip card. Thanks
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