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Potential Fraud - Bank's Responsibility?


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4 replies to this topic

#1 ellentk

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Posted 04 February 2018 - 07:29 PM

I'm not sure if this is on the right board.  Let me know where I should repost it if it is.

If not, what are an issuing bank's responsibilities in this situation? A friend and I both paid for lunch with our TD cards and unknowingly took each other's cards home.  The name on her card had worn off and thinking that it was mine I tried to add it to my paypal wallet.  Paypal accepted the card with the provision that I verify a small transaction.  This seemed odd as paypal has accepted additional cards immediately in the past.  I, finally, took a closer look at the card and saw that it was my friend's.  When she called TD bank, they told her that she would have to dispute the small transaction from paypal to get it removed from her account and offered no explanation about why the charge went through.  She feels that TD lacks good security and should have immediately caught that I wasn't the card's owner.  But I'm thinking that all TD received from paypal was the amount and their confirm code, my name wasn't transmitted from paypal to TD.  But I'm not sure.  Paypal picked up on that the card I was trying to add might involve fraud.  But how would TD know they should look into it? It seems that TD leaving it up to the credit card holder to verify is secure enough.  Or should paypal do more to flag the charge as suspicious so that TD or any bank, can investigate?





#2 ICANHASMUNY?

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Posted 04 February 2018 - 07:39 PM

I'm not sure if this is on the right board.  Let me know where I should repost it if it is.

If not, what are an issuing bank's responsibilities in this situation? A friend and I both paid for lunch with our TD cards and unknowingly took each other's cards home.  The name on her card had worn off and thinking that it was mine I tried to add it to my paypal wallet.  Paypal accepted the card with the provision that I verify a small transaction.  This seemed odd as paypal has accepted additional cards immediately in the past.  I, finally, took a closer look at the card and saw that it was my friend's.  When she called TD bank, they told her that she would have to dispute the small transaction from paypal to get it removed from her account and offered no explanation about why the charge went through.  She feels that TD lacks good security and should have immediately caught that I wasn't the card's owner.  But I'm thinking that all TD received from paypal was the amount and their confirm code, my name wasn't transmitted from paypal to TD.  But I'm not sure.  Paypal picked up on that the card I was trying to add might involve fraud.  But how would TD know they should look into it? It seems that TD leaving it up to the credit card holder to verify is secure enough.  Or should paypal do more to flag the charge as suspicious so that TD or any bank, can investigate?

 

you should both drop any mention of fraud and who's security problem this is,  BEFORE YOU DIG A HOLE YOU CAN'T  CRAWL OUT OF

 

Both of you just call up the banks and paypal and explain the honest mistake before they start thinking you're an ID thief .



#3 ellentk

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Posted 04 February 2018 - 11:04 PM

We've already contacted them.  I told paypal I typed in the wrong number.  They had no problem.  My friend had a longer discussion with TD and explained the situation.  Neither of us are suspected of fraud.  Perhaps I used the wrong term. What's the correct one?



#4 ICANHASMUNY?

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Posted 05 February 2018 - 04:03 AM

an honest error . 

 

the system worked like it was supposed to - the verification of the amount the debited / credited against the account is the Security feature

 

some had some elses card - paypal ran a test payment against the real checking account 

 

that alerts the owner of the checking account  that someone used their card for paypal 

 

She noticed the debit /credit and immediately called her bank because she didn't authorize the transaction 

 

you couldn't verify the amount  since it wasn't your account,  and paypal declined to let you tie her account to your paypal account 

 

end of story 

 

same thing happens when you like to make CC payments online against your checking account - 

 

you provide the CC bank your checking account # - there is an initial debit/credit transaction that has to be  verified, 

 

and thereafter, when you make a payment online to the CC bank,  they withdraw it from the account you specified 

 

you can set it up to be automatic, or you can set it up that you have to  initiate to pay the bill. 



#5 ellentk

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Posted 05 February 2018 - 02:04 PM

Thanks for explaining.






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