Current Events > Lost my debit card for the first time ever today

(+) Yeah! (+)

Long story short I herp derped and (most likely) forgot to pull it out of an ATM. I called and had it cancelled and immediately ordered a new one. Thankfully none of my money had been spent yet - which is wild because it was a good 5 hours before I realized it was lost and you can just run it as credit at many places without entering a pin.

I keep some backup cash in case of emergencies and now I'm glad I do. Its gonna be a long 6-7 business days until I get my new one in the mail.
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You can't just go to your bank and get a replacement same day? I know they're closed today but tomorrow at least?
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ffmasterjose posted...

I called and had it cancelled and immediately ordered a new one.

That's pretty old school. I have two debit cards- one for an actual bank, the other for a cash management investment account and they both have shutoff features in app.

I guess you'd have to call regardless to order a new one though.

Good call on keeping a backup.
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How do you leave it in an atm? The things literally scream at you to take them out these days
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A lot of times if you leave a debit card in an ATM, the ATM will automatically eat the card after a few seconds.
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CableZL posted...

A lot of times if you leave a debit card in an ATM, the ATM will automatically eat the card after a few seconds.

This happened to me once about 6 years ago, the bank was not very kind and said they had a strict policy to destroy the card even if I could prove my identity. This kind of irritated me but I guess they probably got burned in the past by trusting people. The same thing happened to my sister and the bank returned the card after going inside and letting them know 30 minutes later.
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Genocet_10-325 posted...

How do you leave it in an atm? The things literally scream at you to take them out these days

A few months ago I was at a drive thru one. The car in front of me at the ATM takes off and goes back around to get back in line. I pull up to it and notice the screen to take out money is still up and a card is still in it. The girl gets out of her car and starts walking towards the ATM, stops, and walks back to her car. I call to her "Hey ma'am, your card is still in the ATM." She comes back and is freaking out bad telling me that the ATM wasn't giving her card back.

She gets it back, says "Thanks", and runs back to her car. It was a pretty odd encounter haha.
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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.
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masticatingman posted...

I don't know about ATM's eating cards after a set amount of time...

Yeah it's annoying. Happened to my boss on a trip overseas, we went to the bank first thing in the morning and they were like "nope we can't give you your card back" even with his passport and everything. Eventually they caved and had the technician open the machine and give it back.
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masticatingman posted...

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.
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You guys have weird banks. At every bank I've ever used, the ATM sucks the card back in if no one grabs it and the bank checks them every so often and allows you to pick yours up if you can provide ID. After three or so days, it is destroyed though.
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I always keep backup cash on me from the one time I lost my debit card. I had met a friend in Kansas City when I was stationed in Oklahoma, and lost it the night before I headed back. I managed to make it back home using the change in pocket to barely get enough gas to carry me back.
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HowardStern69 posted...

You guys have weird banks. At every bank I've ever used, the ATM sucks the card back in if no one grabs it and the bank checks them every so often and allows you to pick yours up if you can provide ID. After three or so days, it is destroyed though.

Yeah the institution that refused to return my card right after their machine sucked it in was a credit union, not a bank. This kind of irritated me mainly because they were part of a joint network with my CU at the time so it wouldn't have been hard to verify me. Not all ATM machines are in banks though. There are some standalones where the card just gets inserted and kind of sits there (there is nothing that sucks the card in etc).
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Kombucha posted...

HowardStern69 posted...

You guys have weird banks. At every bank I've ever used, the ATM sucks the card back in if no one grabs it and the bank checks them every so often and allows you to pick yours up if you can provide ID. After three or so days, it is destroyed though.

Yeah the institution that refused to return my card right after their machine sucked it in was a credit union, not a bank. This kind of irritated me mainly because they were part of a joint network with my CU at the time so it wouldn't have been hard to verify me. Not all ATM machines are in banks though. There are some standalones where the card just gets inserted and kind of sits there (there is nothing that sucks the card in etc).

Ahh yeah, my bank has some standalones but I live so close to the actual branch that I just use the ATM in their little lobby there. My old bank had a drive thru ATM that sucked your cards back in as well. I should get moving on checking out a credit union though...
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HowardStern69 posted...

Kombucha posted...

HowardStern69 posted...

You guys have weird banks. At every bank I've ever used, the ATM sucks the card back in if no one grabs it and the bank checks them every so often and allows you to pick yours up if you can provide ID. After three or so days, it is destroyed though.

Yeah the institution that refused to return my card right after their machine sucked it in was a credit union, not a bank. This kind of irritated me mainly because they were part of a joint network with my CU at the time so it wouldn't have been hard to verify me. Not all ATM machines are in banks though. There are some standalones where the card just gets inserted and kind of sits there (there is nothing that sucks the card in etc).

Ahh yeah, my bank has some standalones but I live so close to the actual branch that I just use the ATM in their little lobby there. My old bank had a drive thru ATM that sucked your cards back in as well. I should get moving on checking out a credit union though...

I no longer use a credit union, but they're good if you're choosing between one and a bank with a lot of fees. Also if they're part of some of the larger networks it can be good for accessing cash while traveling domestically. The bank I have now though uses Allpoint ATMs as a fee free option which are everywhere across the country.

The only thing I have in addition to a regular bank is a few investment accounts. The cash management account is basically where funds sit in an FDIC insured deposit sweep that gathers moderate interest. Technically the account is supposed to be a core position meaning I can use these funds to invest in my brokerage accounts (which I do) or leave the balance alone. Balances in the cash management account are treated like a typical bank account (debit card, bill pay, check writing, direct deposit, etc) that can be pulled from at any time. The main benefit (other than constantly producing interest) is if you like to deal in cash for some things all ATM fees are refunded daily both domestically and internationally which is a massive way to save for travel.

Because I'm going to be traveling internationally for an extended period of time soonish it just made sense.
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Kombucha posted...

masticatingman posted...

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
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QwelzaarKane posted...

Kombucha posted...

masticatingman posted...

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 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?
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Kombucha posted...

This seems to be the norm but I've heard of a few instances 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?

A lot of big banks like to fuck over their customers (see any bank with monthly service fees and overdraft protection). Not protecting them from external threats is dumb in every way, though. That's an instant dealbreaker for anyone I know, and word of mouth is a powerful thing.
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This happened to me on the flip side. I pulled up to an atm and the machine said "please remove your card." So I took it and drove around and gave it to an employee. And my ass is lazy so for me to drive around, unbuckle my seatbelt, get out of my car, walk, go in and talk to somebody, hand the card over, walk back to my car, buckle my seatbelt, and start the car again is asking a lot. YOU'RE WELCOME, whoever you are.
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they don't give debit/checking cards on the date you apply for em. if it only was that easy
but it's right it does take a week because they have to custom make the card with his name etc and then ship it to his address.

i won't ever use an actual bank again, all they care about is profits and even less for the customer.
credit unions are the way to go.

i get free popcorn and coffee whenever i have to pick up some money.
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Kombucha posted...

QwelzaarKane posted...

Kombucha posted...

masticatingman posted...

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.
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CapnMuffin posted...

Kombucha posted...

QwelzaarKane posted...

Kombucha posted...

masticatingman posted...

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.
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