If you have closed a debit card BEWARE!

It seems as if we need to be careful with every thing we do vis a vis bank cards, even when it does not make sense.  I stopped using a deit card a long time ago because of potential fraud issues, but I still have it.  Good info!!

Yolanda seems like the bank would have caught that?  Our bank calls us whenever there is something odd going on and I appreciate that kind of service. There is so much weird stuff going one these days we have to stay on top of it.

Hey Yolanda not sure that makes a difference.  Some of the big banks are good at catching stuff, others are not. Ours just happens to be good at it.  Either way I'll be more aware because of your post - thanks!

My bank keeps a careful watch on the comings and goings of my accounts, but I've cut back on the use of my debit card. Although it is soooo convenient to swipe it and be done with no credit card bill to pay.

Unless you know for certain that a debit card is actually stolen after an account is closed you shouldn't report it stolen.

Investigative teams and law enforcement become time-engaged and involved when a financial crime is reported.

Placing a fraud watch on the card once it's a closed debit card, and not a stolen card, would conform to accepted standards of professional financial responsibility, and perhaps allow you the added benefit of zero-liability protection.

Now that's a scary situation.  One reason I refuse to use debit cards.

Oh my, just when you think you were so smart for closing the account!

Yolanda

They are getting so tricky lately. You almost have to shred, call and then still check to make certain there is no hanky panky. thanks for the tip cheers cvc

Yolanda, 

I seriously doubt if anything really happens from a lwa enforcement standpoint when you report it stolen. there are millions of these issues in any given period of time. Besides the major bank was the party who made the suggestion. 

Goodness.  You'd think when an account was closed, that was the end of the drama.  

Oh for goodness sake. There is always something to worry about huh? Thanks for the heads up about this, Yolanda. One would think the banks wouldn't allow this once an account has been closed. 

Wow!  thanks for the great info. :)

Hi Yolanda - we have to beso careful with everything card, and scammers are everywhere!!

Thank you for sharing this information.  It is most informative.

Buyers, sellers and real estate professionals could really benefit from it!

Have a productive week!