Bank Consumer Report

I have one of these credit cards issued by a large international bank. Last statement I noticed two fraudulent transactions; one for $400 for a shipping company in Victoria and the second transaction for $1,800 in country NSW. I contacted the bank (as soon as i received the statement) and advised that these transactions were not made by me. I had the credit card with me, it was never lost.

The bank advised me that they will TEMPORARILY credit my account while they investigate these transactions (it takes up to 8 weeks) and asked me to sign a form (they will sent by mail) in writing. I received the form and tried to send it several times to the bank; long story short: eventually they acknowledged receipt of this form.

I previously set up an automated form for my credit card bank to deduct the full balance of the credit card from my (other) bank account.

Initially the credit card bank credit me both transactions, but later deducted the $400 again. On the due date, the credit card bank managed to deduct more than the balance of authorised transactions.

I contacted the credit card bank several times, they eventually told me that the 'dispute department' cannot deal with the $400 transaction as this transaction was done on line with '3D Secure'. Yet, they offered to refund me 50% of this transaction regardless of the outcome of the investigation! When i asked them what is this '3D Secure' thing, they did not know much; all they said was this is a very secure transaction where Visa asks questions that only me and the bank know. I told them that I did not do this transaction and there is no one else using this credit card except me, they said that they will ask the 'fraud department' to investigate this. When I asked for 100% temporary refund they said they will get 'a supervisor' to call me as they cannot provide temporary refund in this case! (take the 50% deal or nothing, sort of thing).

What are my rights here?

If the transaction is fraudulent, aren't they supposed to TEMPORARILY 100% refund it? I am very concerned with the competence of this 'big' bank and think my money is not safe with them.

Source of material : WhirlPool Forums

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