Bank Fraud Compensation

[Theodoric]

Originally Posted by Graham

Anything like this, I go direct to the bank/ cc company's main site and see what it has on there if I'm at all interested/ worried.

I wouldn't trust *anything* that comes via an e-mail asking me to click on a link!

Sounds the best course of advice for all such emails, don't touch any link with a bargepole and go directly to the the site. However, one question occurs to me. If you email the site and ask about the suspect email how likely are most companies to reply to you in a helpful fashion?

[ian@huth]

Originally Posted by Graham

Anything like this, I go direct to the bank/ cc company's main site and see what it has on there if I'm at all interested/ worried.

I wouldn't trust *anything* that comes via an e-mail asking me to click on a link!

That is the best advice to follow

[danielf]

Personally, I am wary of any type of internet banking that does not rely on something that is physically present in your house. Be it a list of codes that is sent to you by the bank, or some code generating gizmo (like my gf has: she sticks her bank card into the gizmo, out comes a code which you then enter on the website). This way, if someone gets hold of your passwords through phishing or a key stroke logger, they will still be unable to get at your money unless they also break into your house to get at the codes (or intercept them in the mail).

An internet banking account that only relies on passwords will always be open to vulnerabilities imo.

[danielf]

Originally Posted by Nikko

I fell victim to this - the scammers cleaned out my overdraft & the bank refuse to investigate.

Which bank is this, and why do they refuse to investigate?

[Nikko]

Originally Posted by danielf

Which bank is this, and why do they refuse to investigate?

This is an ongoing problem. I had an overdraft for £887. My account got hacked, and I then I suddenly had a credit balance of 9p through no fault of my own. The bank refuse to accept that I still owe them £887, and what is worse they are failing to add daily interest.

I no longer get the comforting daily threatening letter, and furthermore they are now honouring my direct debits. If this continues, then I will not be losing £100 in daily admin charges, and before you know it all of the recognised Credit Agencies will decline to list me as a defaulter and my whole existance will be ruined.

If I had known things would get this bad, I would have defaulted the automatic minimum payment scheme to one of my obscure credit cards in the hope that my accumulated credit balance of £37 (£3.70 per month over 10 months since I last used it) might have slipped into the red and put me back on a bad rating.

[Marge]

Originally Posted by danielf

Which bank is this, and why do they refuse to investigate?

Come on Dan, it's Nikko, nuff said

[danielf]

Originally Posted by Debsy42

Come on Dan, it's Nikko, nuff said

[Nikko]

Originally Posted by Debsy42

Come on Dan, it's Nikko, nuff said

[SMHarman]

Originally Posted by greencreeper

<snip>I have used online banking for a number of years, without problem and without ever been emailed by my bank. I don't see that there's any reason to be emailed - everyone should check their bank account at least once a week. Around pay day I'm always checking

More true for a bank statement, but for a credit card? I personally don't feel the need to see the debt I'm running up on it daily.

On the bank account, with First Directs Text Message Banking I don't need to long in nearly as often these days as this gives the last 5 transactions 3 times a week, so I can see everything going out (not much coming in!).

[greencreeper]

Originally Posted by SMHarman

More true for a bank statement, but for a credit card? I personally don't feel the need to see the debt I'm running up on it daily.

Ah - my Dad taught me that if you can't pay for it, you don't buy it. I've never had a credit card or purchased anything on credit

[SMHarman]

Originally Posted by greencreeper

Ah - my Dad taught me that if you can't pay for it, you don't buy it. I've never had a credit card or purchased anything on credit

Which, no offence, makes you even less of an average internet banking user.

[greencreeper]

Originally Posted by SMHarman

Which, no offence, makes you even less of an average internet banking user.

Probably, though it does mean I can retire at 55 instead of working myself to death to pay off the debts and mortgage

Originally Posted by greencreeper

Ah - my Dad taught me that if you can't pay for it, you don't buy it. I've never had a credit card or purchased anything on credit

It's good advice up to a point, but if you *can* afford it, don't forget that Section 75 of the Consumer Credit Act gives you protection on any item between £100 and £30,000 by making the card company jointly and severally liable for the completion of the contract you enter into (unless you use an "agent" like Paypal, but I wouldn't touch them with a bargepole!)

It's something worth considering.

[SMHarman]

Originally Posted by Graham

<snip>(unless you use an "agent" like Paypal, but I wouldn't touch them with a bargepole!)

It's something worth considering.

As paypal is not even money - but "electronic money", it also falls outside the deposit protection scheme in the UK, so summarise, if a bank fails, you get the first £8000 of your money back - guaranteed, if paypal fails you get 0.

So if you use paypal don't leave money in it.