quote:

Originally posted by geroin i recommend getting a chip bank card for the future, those cannot be copied, yet.

the chip shit on credit cards...

the person can enter the pin wrong somewhere and be like whoops forgot the pin and leave... go somewhere else and be like yah my pin not working I can sign for it though.

RBC now has the paywave thing or wtv... makes it even worse.

I saw a post about gas stations... especially the ones in the US.

It happened to my father way to many times... there was one time he was filling up in Vegas and a few hours later... Visa calls and they were like did you spend $15k in Mexico. My father like uhh no. Ever since than he just pays in cash.

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Originally posted by magikb just be prepared that since there are no tellers around, if you ever deposit cash amounts, they will hold your cash on you for up to 10 business days. I switched from there only because of that reason alone. They said for the first 6 months it would be that way anyhow. I wasn't willing to wait it out and went with Scotia instead and got 10 free movies with scene points through them I have also banked with CIBC and had my card copied on me. They have been good about it and have called me to tell me that it was copied and cancelled my card. The only problem I had with that is they did it on a Friday after work and so I had access to no cash for the whole weekend. It happened to me twice with CIBC actually. I now refuse to use my bank card at gas station pumps.

why 10 days? it's usually 3-5, using CIBC ATM's...
I just applied, yahoo! I'm thinking to keep my existing CIBC account just in case, but switch rent/paychecks to PC

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quote:

Originally posted by FunkyCrew why 10 days? it's usually 3-5, using CIBC ATM's...

That's what they told me. It didn't matter if it was CIBC or PC b/c they are just affiliates, not directly related. You cannot pay any PC stuff at CIBC either.

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I actually might writing a paper on surveillance and identity fraud for school. I still have to decide if I like this topic or not. But even with new technologies that have hopes of reducing the amount of fraudulent situations, they will still occur. These frauds and scammers will always find a way to scam faster and be even smarter each time they do it.

I've had my debit card compromised twice and credit card once. CIBC gave my house a call. Same with my brother when he had his compromised.

What makes me really angry (although not as angry as if I were to ever have money stolen from me) is when TD cancels my card because I have used it at an area of 'risk' and doesn't bother telling me. Then I go to pay for something and my card is declined and I look like a fool. Thank got its never happened at a restaurant. They really should call you if they are going to cancel your card...

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quote:

Originally posted by jester the chip shit on credit cards... the person can enter the pin wrong somewhere and be like whoops forgot the pin and leave... go somewhere else and be like yah my pin not working I can sign for it though. RBC now has the paywave thing or wtv... makes it even worse. I saw a post about gas stations... especially the ones in the US. It happened to my father way to many times... there was one time he was filling up in Vegas and a few hours later... Visa calls and they were like did you spend $15k in Mexico. My father like uhh no. Ever since than he just pays in cash.

oh ok

No, if you are using a chip card on a chip terminal and the company allows you to sign for whatever reason they take full responsibility for the transaction and if it is fraudulent they have to cover the expense. Unless the merchant is an idiot they won't allow you do that.

pay wave max amount you can spend is $40.

In united states they do not use chip cards, they swipe your chip card which works the same way like an old card, did you even read my post?

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Last edited by geroin on Aug-05-2010 at 20:04

Way to much stuff to read...

Is there any questions that need clarification or not quite sure about the answer? I work very closely to this field and it is my expertise


You should be fully reimbursed if there is clear evidence that the Fraud was not perpetrated by you. If there is any possibility that the Fraudulent claims might not be legit, then there it will take a longer process to get your funds back as they banks will conduct their investigations.

As for the time it takes to get back, it is all dependent on the bank and how their reconciliation departments are. Some banks will refund you before you even know the money has left your account. Other banks will take a weeks to refund. It also depends on whether there is clear evidence it was not you. If there is clear evidence then the process if a lot faster.

quote:

Originally posted by geroin oh ok No, if you are using a chip card on a chip terminal and the company allows you to sign for whatever reason they take full responsibility for the transaction and if it is fraudulent they have to cover the expense. Unless the merchant is an idiot they won't allow you do that. pay wave max amount you can spend is $40. In united states they do not use chip cards, they swipe your chip card which works the same way like an old card, did you even read my post?

I'm not an expert on Credit Cards, only on Debit Cards, but the way it is suppose to work in Canada, according to EMV standards, if you have a Chip Card and use a Chip Terminal you HAVE to conduct a Chip transaction.

The terminal won't even allow you to swipe the card to sign for it. The only option will be to insert the chip and type in the PIN. This is to prevent fake Cards from being used.

quote:

Originally posted by Intangible What makes me really angry (although not as angry as if I were to ever have money stolen from me) is when TD cancels my card because I have used it at an area of 'risk' and doesn't bother telling me. Then I go to pay for something and my card is declined and I look like a fool. Thank got its never happened at a restaurant. They really should call you if they are going to cancel your card...

They do. You should check to see which number you have as your primary phone number. B/c when they called me one time about suspicious activity they called my house in Windsor, while I was in Cambridge. So my parents have to call my cell phone and have me call them back. Make sure your cell phone is your primary number for this reason.

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quote:

Originally posted by exstasie I'm not an expert on Credit Cards, only on Debit Cards, but the way it is suppose to work in Canada, according to EMV standards, if you have a Chip Card and use a Chip Terminal you HAVE to conduct a Chip transaction. The terminal won't even allow you to swipe the card to sign for it. The only option will be to insert the chip and type in the PIN. This is to prevent fake Cards from being used.

that's for debit cards, for credit cards merchant has an option to manually process the transaction to let the customer sign but they only do that in very rare circumstances.

There is also a huge migration process in place to help elderly people get used to the new system so they let everyone have 3 tries to get their pin number right, once you do that you could not sign anymore but if you were to enter your pin number incorrectly all the time since you got the card it will just print out paper to sign every time, that's still in place afaik.

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Last edited by geroin on Aug-05-2010 at 21:11

I work for the Dept at TD/CT that does that.

With us it does NOT take 2 weeks...it used to take 7 business days max but now they crunched it down to 3 MAX.

Sometimes the cust service people do not know this and give the standard time it took BEFORE.

TIP:


Lower your Atm limit if you don't use your card to take out a lot of cash or do large purchases regularly. You can always increase the limit later via the banks phone service number.



As for chip technology, I'd say places that have it but choose not to use it, I'd say far away from.

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