I lost my wallet yesterday along with all my bank cards. I canceled my card today but there were still approx. $175 fraud transaction made through PayPass and online purchase. The bank said they'll investigate and refund me but I'm not sure whether I should escalate it to the police.
Anyone who has a similar experience (lost bank cards and the cards was used by others)? What do you do except for contacting the bank? Will the police investigate this amount of fraud? or should I give the theft a second chance…
How Much Money Appeared in Your Credit Card as Fraud Transaction Will Police Starts to Investigate
LGreyXXX on 22/12/2018 - 12:15
Comments
The bank will investigate and tell you if they want you to get the cops involved. I highly doubt it for $175.
And really, the cops aren't going to care for that amount. It'll cost them more to lodge a report.
$175
Will the police investigate this amount of fraud?It would be a waste of their resources.
But how is the bank gonna to refund me though (if not through catching the theft and getting him/her to return the money)…
Out of their own pocket.. It's part of the T's and C's of your card…. You read those right?
This.
Source: Was a victim of credit card fraud a few years ago for $2000+. No, I didn't report it to the police.
The bank's won't take it out of their own pocket. It will come from the merchant that the cards were used at.
I lost my wallet yesterday aswell! :((
I noticed about 20 minutes after i had last used it, freezed all my cards & lodged a Police Report & will be contacting a Credit Bureau to place a Fraud Alert on my file.
$8000+ - multiple transactions involving mostly European? airlines and Westpac never noticed - I had to ring and tell them - anyway they removed the transactions from my account after about 3 weeks - no police involved.
That's why I like credit cards - it's the Banks money and you can be sure they will get it back.
The bank will require a police report number to add to their investigation file, so report at your local station.