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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: fizkes/Getty Images February 14, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Poonkulali Thangavelu is a senior writer and columnist at CreditCards.com and Bankrate, addressing debt and credit card-related legal and regulatory issues. Cathleen's stories on design, travel and business have appeared in dozens of publications including the Washington Post, Town & Country, Wall Street Journal, Marie Claire, Fodor’s Travel, Departures and The Writer. Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate logo The Bankrate promise
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Among various payment systems, credit card payments accounted for the most reports of fraud (91,515) in 2020, according to a . Credit card holders need to be very watchful if they’re going to avoid credit card fraud. So, if you have been impacted by credit card fraud and reported the matter to your card issuer, having the bank refuse to entertain your fraud claim is adding insult to injury. Reader Sara writes that this is exactly what happened to her. “My mother was in rehabilitation in August 2021, when someone apparently stole or cloned her card and used the card for approximately $500 in purchases,” Sara writes. Regions Bank Visa Credit Card refuses to acknowledge that a bedridden woman did not drive to Walmart, Shell and CVS to spend $500 over a three-day period. “They will not provide copies of the receipts either,” Sara writes. “My mother didn’t leave rehab at any time. She doesn’t drive. She had the card in her possession when I checked her out of rehab. What is my recourse? My mother is on a limited income. I suspect her card was cloned while she was in rehab.” Reasonable dispute investigation
If you suspect you are the victim of credit card fraud, you have protections under the . To access those protections, you should immediately contact your credit card issuer and . The law places certain responsibilities on the lender in investigating your claim of a fraudulent transaction, and it can’t just get away with a cursory review. For instance, a into this sort of dispute could involve the following: Comparing the purchasing pattern for the claim, such as types and amounts of purchases, with the consumer’s previous purchases Reviewing the place of delivery relative to the consumer’s home or business address Considering where the purchases were made relative to the consumer’s address and typical shopping venues Comparing the signature on any purchase receipts with the consumer’s signature Asking for documentation to help verify the claim Asking for a written, signed statement about the fraudulent transaction Asking for a copy of any police report about the unauthorized transaction you may have filed Requesting input on the person who allegedly committed the fraud or their authority to make use of your card The issuer has a reasonable right to expect your cooperation in gathering this sort of input. But it cannot automatically deny your claim because you did not provide some particular piece. However, if the issuer doesn’t have enough information confirming the fraudulent transaction and you haven’t provided relevant information that would help build the case, the issuer could close the case due to lack of information. Responding to a query for comment on Sara’s mother’s case, a spokesperson for Regions Bank noted: “Regions Bank is committed to helping protect customers from any attempts at fraud against their accounts. Our investigations are detailed and thorough as we work to get to the bottom of whatever may have transpired in any instance reported to us.” Other recourse
If your fraudulent transaction claim is denied by a bank, you should first find out why the claim was denied. Loan Lawyers law firm that the bank may hold you responsible in case you “failed to take reasonable care to protect your identity and your account.” The bank could also view you as culpable if you’re believed to be “part of the scheme and simply want to make purchases and not be held liable for them.” For one, if your information was obtained from your computer, the bank might believe you were complicit in the scheme. The silver lining is that you don’t have to prove your innocence. And in order to hold you liable for a fraudulent charge, the onus is on the issuer to prove its case. What you can do: File a police report about the fraudulent transaction. You could even if the amount involved is large enough. A good way to get a bank’s attention is to . You could also file a complaint with the or the . You could even talk to an attorney to get specific input about your case. The bottom line
Sara, there are specific rules a bank must follow in looking into a claim of credit card fraud to ensure a reasonable investigation. You should follow up with the to ask why your mother’s claim was denied. If you are not satisfied with the bank’s response, you could file a complaint with the CFPB or the , which regulates Regions Bank . Another recourse is to go to the with your complaint, since the bank is based in that state. You could also file a police report about your case or hire an attorney to give you specific advice. If you suspect your mother’s card has been compromised, you should ask the bank to cancel it and issue a replacement card. Hope your mother’s fraud investigation is settled to your satisfaction! Contact me at with your credit card-related questions. SHARE: Poonkulali Thangavelu is a senior writer and columnist at CreditCards.com and Bankrate, addressing debt and credit card-related legal and regulatory issues. Cathleen's stories on design, travel and business have appeared in dozens of publications including the Washington Post, Town & Country, Wall Street Journal, Marie Claire, Fodor’s Travel, Departures and The Writer. Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Related Articles