I don't know about ATM's eating cards after a set amount of time but regardless, you're fairly lucky if you lost track of your debit card for a couple hours and didn't get severely burned. If it had fallen into the wrong hands your account could've gotten royally fucked.
I've never heard of anyone not being comped on charges made to a stolen debit card. Like, if they were it must be a terrible bank, as they are all FDIC insured.
Even stingy ass Chase comped me over $2000 worth of charges without hesitating when my card info got stolen. 99% of those charges could kinda be blamed on them, though
This seems to be the norm but I've heard of a few instances *after googling this just now* where banks would refuse to comp lost income, and I don't understand the thinking there. If the balances are insured, does the bank still pay a percentage of the damages or something? Why are they so concerned with stiffing their customers like that?
Federal Regulation E requires banks to launch and complete an investigation of any electronic claims with 45-90 days. If the investigation is not complete within 10 they must provide provisional credit.
The only stipulation is the request from the customer must come in within 60 days of the statement the fraudulent charge was generated. So assuming the above is met and the fraudulent charge was not due to gross misconduct or negligence by the customer (giving someone your card and PIN for instance) then youll get your money back.
Thanks for clearing this up. I'm guessing people not being comped may have waited a hair too long then, or just posted fake reviews. ---