Skip to content

Deceased Customer - Stolen Debit Card Transactions

Answered by: 

Question: 
We have a member who was in the hospital with cancer when his or her debit card was stolen. He or she passed away a few days later, but the person who stole the card went on a two day shopping spree. There is a POD on the account, is it the POD that now needs to dispute these fraudulent transactions? The family knows they were fraudulent because the transactions took place out of state while the card holder was in the hospital.
Answer: 

If you know that the transactions are fraudulent without getting a formal notice, you are obliged to take action. You can apply the two-day, $50 rule (unless the Visa or MasterCard rules require you to provide $0 liability). The POD can't be presumed to have knowledge of what happened.

First published on BankersOnline.com 7/02/07

First published on 07/02/2007

Filed under: 
Filed under technology as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics