Credit and Debit Card Fraud Issues

skyhighZJ said:
Not necessarily related but why is it I have a loan with bank X and my paycheck gets deposited at the same bank yet they can’t draft the monthly loan amount without taking 3-5 business days? It’s all in house and make believe money in the computer-inter-space? Yet I can go buy something at the store and by the time I’ve reached the truck it’s already done gone from the account? How is certain banking tech so slow?

Don’t even get me started on external agents trying to draft in a timely manner like say my Kubota payment. Anywhere from the 1st to the 11th of the month it comes out even though my Kubota account says it’s supposed to draft the 3rd of every month.
When I’ve called Kubota to ask WTF it’s always the banks fault??
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Had that problem with farm bureau. Auto draft for the 19th sometimes wouldn’t come out til the 15th of the following month then boom the 19th again on time. I revoked the auto pay and pay in full now
 
Noel said:
I revoked the auto pay and pay in full now
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This may just be a holdover from broke me trying to juggle and prioritize bills, but I absolutely refuse to put anything on auto pay, unless there's a significant discount. I don't need that water bill coming out, preventing me from buying groceries or gas to get to work. Same deal with electronic statements vs paper statements, I never elect for electronic unless there's some sort of savings/benefit...someone is having to process that, there's cost for the stamp and envelope and paper...split the difference with me if you want me to make your life/process easier.
 
Serious question, (beside pulling cash from an ATM) is there any benefit to debit over credit? I'd rather leave the credit card companies vulnerable to fraud then give access to my accounts. I haven't had a debit card in years.
 
UTfball68 said:
This may just be a holdover from broke me trying to juggle and prioritize bills, but I absolutely refuse to put anything on auto pay, unless there's a significant discount. I don't need that water bill coming out, preventing me from buying groceries or gas to get to work. Same deal with electronic statements vs paper statements, I never elect for electronic unless there's some sort of savings/benefit...someone is having to process that, there's cost for the stamp and envelope and paper...split the difference with me if you want me to make your life/process easier.
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100% agree. I refuse the same exact things. I contract for the postal service so mail me everything lol 😂. But only reason I did insurance that way was at one point you could only pay bi monthly or every 6 months unless it was a draft. Probably couldn’t afford it at that time lol
 
skyhighZJ said:
Not necessarily related but why is it I have a loan with bank X and my paycheck gets deposited at the same bank yet they can’t draft the monthly loan amount without taking 3-5 business days? It’s all in house and make believe money in the computer-inter-space? Yet I can go buy something at the store and by the time I’ve reached the truck it’s already done gone from the account? How is certain banking tech so slow?

Don’t even get me started on external agents trying to draft in a timely manner like say my Kubota payment. Anywhere from the 1st to the 11th of the month it comes out even though my Kubota account says it’s supposed to draft the 3rd of every month.
When I’ve called Kubota to ask WTF it’s always the banks fault??
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Because if they hold on to your money, they make 0.01% interest on it during that time, which doesn’t sound like much, but on billions of dollars it’s enough to pay the executives tens of millions in bonuses every year.
 
skyhighZJ said:
Not necessarily related but why is it I have a loan with bank X and my paycheck gets deposited at the same bank yet they can’t draft the monthly loan amount without taking 3-5 business days? It’s all in house and make believe money in the computer-inter-space? Yet I can go buy something at the store and by the time I’ve reached the truck it’s already done gone from the account? How is certain banking tech so slow?
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ACH credit (like charging the account) vs Best Buy's merchant account receiving your "payment". The ACH format for mortgage payment is like an authorization for them to "debit" against your account. The grocery store etc is an authorization for you to "credit" their account.

It works in reverse for them i imagine just like my business account when i initiate ach.
 
UTfball68 said:
This may just be a holdover from broke me trying to juggle and prioritize bills, but I absolutely refuse to put anything on auto pay, unless there's a significant discount. I don't need that water bill coming out, preventing me from buying groceries or gas to get to work. Same deal with electronic statements vs paper statements, I never elect for electronic unless there's some sort of savings/benefit...someone is having to process that, there's cost for the stamp and envelope and paper...split the difference with me if you want me to make your life/process easier.
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i completely agree with this line of thought. I superseded this lifestyle by opening a separate account just for bills. And i try to keep it funded one year in advance for all bills (averages). So I have everything auto drafted. And each month when i take my draw i immediately transfer a months worth of bills $ into the bills account. I always monitor each bill when it posts (which is before it drafts) and verify everything is kosher. This really helped out one time when i took 60days to recover from a surgery and had no help. Future planning if you will for hard times or unavailable times. If something happened to me and i was in a coma or something, I imagine it would be many months before anyone in my family would think "what about his bills and mortgage?" I have no one local, not even friends - so my situation is very different lol
 
UTfball68 said:
This may just be a holdover from broke me trying to juggle and prioritize bills, but I absolutely refuse to put anything on auto pay, unless there's a significant discount. I don't need that water bill coming out, preventing me from buying groceries or gas to get to work. Same deal with electronic statements vs paper statements, I never elect for electronic unless there's some sort of savings/benefit...someone is having to process that, there's cost for the stamp and envelope and paper...split the difference with me if you want me to make your life/process easier.
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Yet another thing we are aligned on.
 
I haven’t had any issues with Truist, yet.

But I usually use my Amex or I even have a Citi MC that I like. The MC many times texts me when it suspects a fraudulent charge. It’s caught quite a few and I just text back NO and it blocks the charge. Haven’t had anything hit the card yet. 🤞
 
skyhighZJ said:
Not necessarily related but why is it I have a loan with bank X and my paycheck gets deposited at the same bank yet they can’t draft the monthly loan amount without taking 3-5 business days?
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They're not necessarily the same entity. I have accounts with BoA that were opened in different states. They're not the same.
 
We bank with Wells Fargo and have really good luck. We’ve had fraudulent charges on a credit card in the past but they figure it out before we do generally. We almost NEVER use our debit card. So much so, I forgot my pin#.

I’ve heard it’s much harder to get you money back when it’s stolen from your debit account. Whereas with a credit card it isn’t even my money and they are forced to make it right. We have different cards some for cash back, some for no foreign transaction fees. We pay it off every month to avoid some stupid percentage interest. And the points we generate are a nice bonus. If you play your cards right with rewards, it pays for a couple months of expenses each year.
 
Mini semi-related rant: I'm up in the mountains so have charges away from home hitting my credit card (I like to do all my spending on a card, pay it off once a week and collect my cash back). At the same time I had a charge in CA for having a motorcycle seat re-worked.
I get the automated suspected fraud text and quickly reply the charge is valid. I followed it up with a phone call to USAA to make sure the guy in CA gets paid. They said they declined it but he can re-enter the charge.
Let the guy in CA know what's going on, he tries to re-run the charge and declined again.
2nd call to USAA, they say they've cleared the declines and it will go through if he runs it again.
Guess what happens on attempt #3.... Declined again due to suspected fraud. Call USAA yet again, this time they say since the charge was declined 3 times there is a 48 hold on the card that they can't remove.
At that point I gave up, had the merchant run the charge on my debit card.
I'm usually really happy with USAA.....
 
DannyH said:
We bank with Wells Fargo and have really good luck. We’ve had fraudulent charges on a credit card in the past but they figure it out before we do generally. We almost NEVER use our debit card. So much so, I forgot my pin#.

I’ve heard it’s much harder to get you money back when it’s stolen from your debit account. Whereas with a credit card it isn’t even my money and they are forced to make it right. We have different cards some for cash back, some for no foreign transaction fees. We pay it off every month to avoid some stupid percentage interest. And the points we generate are a nice bonus. If you play your cards right with rewards, it pays for a couple months of expenses each year.
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We ditched WF a couple years ago. Last straw was when they hit us with a random $150 service charge that was manually initiated but nobody knew why. This overdrafts the account. They then refused to remove the overdraft fee after removing the initial charge.

Opened our account with Civic that night and promptly dumped WF.
 
TARider said:
Mini semi-related rant: I'm up in the mountains so have charges away from home hitting my credit card (I like to do all my spending on a card, pay it off once a week and collect my cash back). At the same time I had a charge in CA for having a motorcycle seat re-worked.
I get the automated suspected fraud text and quickly reply the charge is valid. I followed it up with a phone call to USAA to make sure the guy in CA gets paid. They said they declined it but he can re-enter the charge.
Let the guy in CA know what's going on, he tries to re-run the charge and declined again.
2nd call to USAA, they say they've cleared the declines and it will go through if he runs it again.
Guess what happens on attempt #3.... Declined again due to suspected fraud. Call USAA yet again, this time they say since the charge was declined 3 times there is a 48 hold on the card that they can't remove.
At that point I gave up, had the merchant run the charge on my debit card.
I'm usually really happy with USAA.....
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You should have used MCC Home of the best motorcycle seat modifications. Local and does great work!
 
TARider said:
Mini semi-related rant: I'm up in the mountains so have charges away from home hitting my credit card (I like to do all my spending on a card, pay it off once a week and collect my cash back). At the same time I had a charge in CA for having a motorcycle seat re-worked.
I get the automated suspected fraud text and quickly reply the charge is valid. I followed it up with a phone call to USAA to make sure the guy in CA gets paid. They said they declined it but he can re-enter the charge.
Let the guy in CA know what's going on, he tries to re-run the charge and declined again.
2nd call to USAA, they say they've cleared the declines and it will go through if he runs it again.
Guess what happens on attempt #3.... Declined again due to suspected fraud. Call USAA yet again, this time they say since the charge was declined 3 times there is a 48 hold on the card that they can't remove.
At that point I gave up, had the merchant run the charge on my debit card.
I'm usually really happy with USAA.....
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With both USAA and BankOZK (that I have experienced), they have security measures that are all automated like a math equation. What I have come to discover its how some of these people run the card. When some businesses are taking the charge over the phone they run their numbers as if the person is present, rather than running the card as over the phone (higher merchant fees for this). This triggers the Bank security system, regardless if "approved" because it is registering you in WNC, but someone is trying to authorize a charge in CA as if the card is present in CA. It will trip it continuously.
 
skyhighZJ said:
Even when it’s a loan through the same bank?
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This used to be an issue for me with First Citizens. My original bank where the account was opened was in SC. I lived in NC. Might as well been separate banks. They didn’t talk. It would take days for checks to clear and all sorts of headaches. They finally fixed it and they’re one and the same, but for years it was a pain.
 
Wes said:
This used to be an issue for me with First Citizens. My original bank where the account was opened was in SC. I lived in NC. Might as well been separate banks. They didn’t talk. It would take days for checks to clear and all sorts of headaches. They finally fixed it and they’re one and the same, but for years it was a pain.
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All games with them. Hell they wanna act like it takes time to clear. Yet I had a guy write me a check from his bank, took it to my credit union to “cash then deposit” it and they told me then it would bounce. They are all linked and know what’s what
 
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Wes said:
This used to be an issue for me with First Citizens. My original bank where the account was opened was in SC. I lived in NC. Might as well been separate banks. They didn’t talk. It would take days for checks to clear and all sorts of headaches. They finally fixed it and they’re one and the same, but for years it was a pain.
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First citizens used to literally be different banks.
FC SC and FC SC were different companies and different legal entities . They even had different FDIC registrations.

Now they are one in the same as SC bought out NC (and about 5 other smaller banks since)
 
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