Does Bank cover any losses if laser card stolen

B

Berberis

Registered User
Messages
43
Hi, My wifes laser/debit (ptsb) card was stolen yesterday morning
(harrased in supermarket by couple, and dipped into her purse while she had it open)
Luckly last night when she only noticed it gone and then rang up to cancel the card, she was told no transactions had been made on it since her own last transaction just before it was stolen.
i was just wondering though what would have happened if cash had been withdrawn. Would the bank of reimbursed her, or is that only the case with credit cards.

thanks in advance
 
It could depend on the circumstances, a card is of limited use without the PIN. If the PIN was written down somewhere on the card or in her bag and also stolen, PTSB may push back
 
many house insurance policies provide cover for such losses up to a defined limit. However, it is impossible to use the stolen card without the PIN. if you have left the PIN with the card, then the insurers may refuse indemnity due to not taking reasonable precautions.
 
Slightly different scenario but I had my laser card used fraudulently without a pin. I had the card in my possession but had paid for an insurance policy over the phone a few days previously to my local broker.

The staff member went on to use my card to the tune of 1000 euro for her personal (telephone)transactions, hence a pin or signature was not neccessary.

I noticed the withdrawals within a few hours of her using it and BOI refunded me fully within a couple of days. I did have to give a Garda Statement.

They felt I wasn't negligent as I had the card and she had n't used the pin.

Two interesting points here was that (a) The insurance office employee was only given an adult caution - and (b) the merchant (shopkeeper) was at the loss of the laser transaction funds, not me because it was a telephone transaction.
 
Ravima said:
It is impossible to use the stolen card without the PIN. if you have left the PIN with the card
Click to expand...


It must be possible through whatever technological trickery to find out what the pin is.

A friend had her purse stolen on a night out and when she called the bank the next day they told her that all her funds has already been withdrawn late that night. She didn't have her pin written down and they suggested that someone could have previously watched her enter her pin but as her statement proved she hadn't used the card that day so that also seamed implausible. Interestingly the thief withdrew her money from an atm in a train station a 15 minute walk away rather than from the many atms that were close to the nightclub.

In the end AIB refunded her the money (around €200.) We still cant figure it out.
 
stolen laser card

the card can be used for online purchasing - you dont need pin for that
 
You must log in or register to reply here.
Back
Top