
Capital One refused my fraud claim because a chip was used - fortran77
https://old.reddit.com/r/personalfinance/comments/e3v6hv/capital_one_refused_my_fraud_claim_because_a_chip/
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resoluteteeth
Looking through the comments on reddit, there are a number of people people
stories about how something similar happened to them and it turned out that
either 1) they had been mailed a new card that was intercepted and
successfully activated by someone, or 2) despite what the bank claimed, it
turned out the transaction wasn't actually a chip transaction, so these are
probably good possibilities to look into if this happens to you.

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fortran77
#1 is interesting. Someone can have a dupe card sent to you and steal your
mail. And the bank won't reverse the charge. That seems like "chip fraud" of a
sort. Allowing the banks not to be liable for fraud on "chip cards" seems like
a mistake.

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u801e
Would the original card continue to work in that case? You could simply state
that you never requested a replacement card and still have the old card in
your possession.

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johnnymonster
It looks like cloning your chip is already a thing as well as other types of
attacks. It doesn’t make sense why banks would deny fraud claims,

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johntash
> It doesn’t make sense why banks would deny fraud claims,

So that they don't have to pay out those claims.

It doesn't make sense why that is allowed though.

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beatgammit
Honestly, I don't understand why we don't use PINs here in the US for credit
transactions, and most places don't even ask me to sign. I'm surprised there
isn't _more_ fraud with our super lax financial system.

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asdfx
My family used apple pay, and ended up paying for the person on the other
counter as well. Not sure how it happened, but I got the detailed receipts
from the card provider. It indicated 2 transactions on 2 different counters,
at almost same time!

Target was nice enough to give a gift card for that amount.

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srcmap
Any recommendation for US credit card with following features: * Virtual
credit card # for online purchase. * Secure mobile app that get notifications
on all spending immediately. * Any other security features I should consider?

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nwah1
In Europe, I was told that they employ a chip-and-PIN strategy. I'm not aware
of this being possible in the US. Anyone know?

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ryanlol
Chip-and-PIN really sucks for consumers, but many US institutions are able to
do it if you ask.

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barnabee
Citation needed.

Seriously, I can enter my pin far more quickly than the alternative of print
-> find flat surface -> sign -> return. And we have contactless for small
transactions where you might swipe and not sign, which is again faster. Both
of which allow you to verify the amount on screen.

What really sucks for consumers is the ridiculous and completely standard US
practice of restaurants/bars returning a slip to sign and add a tip along with
the customer’s card. This means that without the card and away from view the
staff can add an arbitrarily large additional charge to the card at some later
point, and the only way to check the actual amount is to write it down a
second time and check the statement.

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ryanlol
>Seriously, I can enter my pin far more quickly than the alternative of print
-> find flat surface -> sign -> return.

Now you have to pay attention to the machine for an extended period of time
instead of just waiting for someone to hand you a pen and the receipt.
Terrible keypads seem to be the norm so it’s hardly easy to rapidly enter your
pin every time.

As far as finding a flat surface goes, do you not have arms? You literally
only need to touch the pen on the paper, nobody cares what your signature
looks like.

>And we have contactless for small transactions where you might swipe and not
sign, which is again faster.

Yes, we have contactless. I don’t see how this is related to chip and pin?

If we’re going to go there then ApplePay with fingerprints is obviously the
ultimate solution for these payments, which I think just further supports my
firm opinion that I shouldn’t be required to remember PINs for the two places
where ApplePay doesn’t work.

