Bank Won't Reverse Overdraft Charges After Identity Theft Fraud

[iamhere]

Los Angeles, CA: I recently had someone use my debit card number to place 4 large orders on a website I had never heard about before. Because I was not able to use the card for my groceries that day I suspected something was REALLY wrong. So I ran home and went on line to find the charges there made that same day (minutes before). I called the bank's (WAMU) Customer Service Dept right away to report it and their Fraud Dept. actually called me to try and verify one more transaction the perpetrator tried to put through.

I sent e-mail after e-mail to the Bank's various contacts, called again and again and after being left on hold for over 1 hour was told to file a police report and fax it to the bank's Fraud Dept. I did.

Sooo, after all that was done the charges to my debit card were reversed, but the bank will not reverse the Overdraft charges. They claim the website should do that. ?????????????????

They are now sending threatening letters asking me to deposit money to cover the charges. What can I do? I will gladly pay for the real charges to my account that were there before the whole theft thing happened, but not the OD charges. How can they charge me for something I reported right away and they should have been able to stop payment on immediately?

Heeeellpp!!

[Mr. Knowitall]

I suggest going into "squeaky wheel" mode. Call again, and insist that the charges be removed. If that doesn't work, insist upon speaking to a supervisor. I suspect that you will get results if you keep pushing, and that's the fastest (and possibly the only) way to get what you want.

I do not know what "website" the bank employee believes would refund overdraft fees, or why they would do so. Again, ask for a supervisor.

The legal protections given to people with debit cards are a mere shadow of the protections given to credit card holders.

[LawResearcherMissy]

They claim the website should do that.

How in the world is the website going to reverse charges your bank applied?

Obviously, trying to resolve your problem by telephone and e-mail is not working. It's time to get out the big guns and go talk to someone in person.

Gather up all of your documentation - notes about what happened and when, who you spoke to in the fraud department, any correspondence you've received from WAMU about the incident, and a copy of the police report - and go to a branch location.

Ask for an account manager or the branch manager. A teller is not usually able to help in such instances.

Explain in detail what happened, present your documentation, and firmly insist that the overdraft charges caused by the fraudulent transactions be reversed.

88% of banks in the US offer "zero liability protection" in the case of fraudulent transactions, and WAMU is among those. They even trumpet it in their marketing materials. Zero liability means that not only are you not responsible for the fraudulent charges, you're not responsible for the overdraft fees incurred as a result, either.

[aaron]

Zero liability should mean that; it certainly implies that. I'm always wary of promises by banks and credit card companies, due to the inevitable, copious "fine print".

[iamhere]

Thanks to all for the great help! It is highly appreciated. I will parade into a branch and follow the advise here and post the results for you to see. THANKS A LOT!!! =0)