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If you cancel a stolen card your money may still be taken

Reporting your bank card as stolen, may not protect you from losing money. If you tell your bank that your card has been stolen, they will block the card to stop thieves from taking money out of your account. Any payments that go through after you report the card as stolen would not normally appear on your account. But it's emerged that some card transactions are being charged to customer accounts, after cards have been reported as stolen. Some UK banks are expecting customers to identify and report individual fraudulent transactions before reimbursing their account, even though they know the card has been stolen. Winifred Robinson finds out why this is happening.

First broadcast on You & Yours, 26 September 2016.

Release date:

Duration:

4 minutes

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