Should banks do more?

Question

when u notice a fraud payment on your account and it is in holding should the bank stop payment and save u have in to claim it back

Answer 1

The banks do their job - they hold the money until the situation is cleared up.  Your job, as a credit card holder, is to closely watch your account and report things as they come up.  The longer you wait to report something, the harder it is for the bank to get the money back and sort things out.

People should check their credit card accounts every week online (if their bank provides online banking).

There are many good reasons for this, including keeping tabs on what you are spending as well as spotting fraudulent charges as soon as they appear.

Keep in mind that fraud goes both ways - often credit card holders will report a legitimate transaction as fraudulent because they forgot they made a purchase or just because they are trying to scam the company from which they purchased something.  The bank needs to hold the money during the time they investigate things.

Answer 2

d**n right they should.

When they make billions of dollars profit each year, they should put some of that back into giving customers a good service and protecting them from theft, fraud etc.