How long does it take for the bank to recover funds from debit card fraud?

Question

I found $330 in unauthorized transactions made with my Visa check card this morning.. I reported it to the bank and filed a dispute.. They said I would get the money back but they don't know when.

Does anyone have any clue how long it takes for them to credit your account? I have $9 to get thru the next 10 days with

Answer 1

This is why those debit cards are so vulnerable.  Get one credit card and use it when you must.  Otherwise, write a check or pay cash.

Hope it turns around for you quickly, but with a credit card it would be almost immediately.

Answer 2

This really depends on the policy of the bank.

where I work we will give you a "provisional credit" in ten business days. The investigation though can take up to twenty business days. After the entire invesigation is complete they will send you a letter stating whether or not they found this as a fraudulent transaction or not. If they find that it is then you can keep the funds. If they find that it was a legitimate transaction then you will be debited the funds.

If you have already used the money this will put your account overdrawn. So before filing a dispute.. be sure it wasn't you or that you didn't break the rules somewhere..ie give someone your card or pin.