Not impressed with BankWest

[Bells]

Westpac MasterCard compromised late last year - only a small amount involved. Reported immediately it appeared on statement. Had to pay the full amount on the statement, however credit limit was increased by the disputed amount whilst investigations took place. After a number of weeks, the amount was 'provisionally' repaid to my account and 3 months later card was cancelled due to fraud and the provisional refund confirmed. Process works for small amounts but it would be difficult if it involved a substantial sum.

 

[Dougo]

Wow - have to pay off fraudulent transactions ?

Unless Westpac has changed their procedure since 2015, we didn't have to pay a cent and once we filled in the Stat Dec (?) and sent it off to the fraud department, all the disputed charges were removed from the CC.

We had no idea we had been subjected to fraudulent transactions until we were out shopping and tried to put a relatively small amount on our CC. I got home, logged into internet banking and was shocked to discover that some low life had put some $7K worth of transactions on our CC.

I immediately rang MasterCard who passed me through to the fraud department who had picked up some anomalies on the CC and put a hold on any transactions presumably when they realised that the transactions were out of character with what we buy and where we buy.

I have to say we were impressed with the speed that they picked it up and grateful that we didn't have to pay it off (as my Dr did with her C'wealth CC). It did take Westpac several weeks to investigate it and get back to us where they cleared us of any involvement with the rider that if in the future they discover any involvement from us in this fraud, then basically they'd throw the book at us. Fair enough !!

 

[LadyC]

Just another data point. I had a NAB issued AMEX card that I cancelled back in August 2017. I received a new bill from them a few weeks ago that contained a fraudulent transaction. They have been 'encouraging' me to make a minimum payment on it. I don't understand how the transaction even got through to begin with seeing as the card had been cancelled for at 6 months!

 

[Ex-bugman]

My dealings with Bankwest have been the complete opposite. I have to assume you rang the bank and not fraud section of the credit card. I've had it happen several times over the years and twice for much larger amounts, card in each case was immediately suspended, never had the issues described.

 

[Sweetlittle]

Wow - have to pay off fraudulent transactions ?

Unless Westpac has changed their procedure since 2015, we didn't have to pay a cent and once we filled in the Stat Dec (?) and sent it off to the fraud department, all the disputed charges were removed from the CC.

We had no idea we had been subjected to fraudulent transactions until we were out shopping and tried to put a relatively small amount on our CC. I got home, logged into internet banking and was shocked to discover that some low life had put some $7K worth of transactions on our CC.

I immediately rang MasterCard who passed me through to the fraud department who had picked up some anomalies on the CC and put a hold on any transactions presumably when they realised that the transactions were out of character with what we buy and where we buy.

I have to say we were impressed with the speed that they picked it up and grateful that we didn't have to pay it off (as my Dr did with her C'wealth CC). It did take Westpac several weeks to investigate it and get back to us where they cleared us of any involvement with the rider that if in the future they discover any involvement from us in this fraud, then basically they'd throw the book at us. Fair enough !!

Some years ago I also had fraudulent use of my card. However I was in the habit of checking my usage every night, so made a late night call to Westpac and was immediately assisted. I believe I was advised not to use that particular card until they had a chance of investigating, but there were no penalties involved. Altogether, although a very alarming experience, it was handled very carefully and sensitively.

 

[pilotsh]

It is not just the internet but card skimming that can be the problem when travelling. Even more so now that most cards have proximity chips.

I bought some RFID card slips from my local auto club (RACQ, RACV, NRMA etc) for a couple of dollars and have had no issues since. You can even get one sized for passports, which now also contain chips.

I highly recommend keeping credit cards (and passports) in RFID slips.

 

[TheRealTMA]

It is not just the internet but card skimming that can be the problem when travelling. Even more so now that most cards have proximity chips.

I bought some RFID card slips from my local auto club (RACQ, RACV, NRMA etc) for a couple of dollars and have had no issues since. You can even get one sized for passports, which now also contain chips.

I highly recommend keeping credit cards (and passports) in RFID slips.

Have a read of this - https://lifehacker.com/why-you-don-t-need-to-worry-about-rfid-shielding-1818626171?IR=T

 

[pilotsh]

Have a read of this - https://lifehacker.com/why-you-don-t-need-to-worry-about-rfid-shielding-1818626171?IR=T

I know someone who had a card that was compromised twice within five months (the original card, and then the new replacement card which had a different number)! After I heard that, we both got RFID slips, and no compromises on any cards since! (18 months).

Purely circumstantional I know, but they worked in this case.

For only about $8, it's been worth it for me.

 

[Spacetravel]

That is a good point and question to ask, if they actually have a fraud department.

I had a different experience to Bankwest while it was my debit card and not a credit card. I was out at a club one night and got an email from Bankwest telling me they blocked my card due to fraudulent transactions at another club near by and to call them. I was so confused as I had only used it earlier. Opened my wallet and my card was in fact gone. I was so surprised how they managed to detect the transactions were fraudulent considering I frequent the area with my card and had used it at the place the transaction was detected in the past.

I was very impressed at their fraud detection,
- how they managed to flag only the fraudulent transactions
- how they contacted me so quickly and via email (I probably would have missed/ ignored a phone call from a business at midnight)
- I have never had a false positive before or after either (when every other card company has had many)

I had to order a new card, log a police report and fill out the PDF which yes was also strange they don't have an online form. But once I submitted the PDF I had the funds returned to me within a week.

 

[kindy01p]

Stick with Visa, guys. Their Zero Liability Scheme that banks subscribe to means they must extend you provisional credit to cover the losses with 5 business days. And you don’t need to pay the balance. Most bank officers won’t know about the scheme and will tell you to pay the balance, or in the case of my wife, to contact the merchant that the card was ‘used’ at and investigate herself (lol), but just put it in writing and threaten to contact the ombudsman for breach of credit contract, and you’ll get a favourable response from someone pretty quickly who will say that their junior staff ‘just didn’t know, sry’.

Zero Liability | Visa

 

[flyingsyd]

Stick with Visa, guys. Their Zero Liability Scheme that banks subscribe to means they must extend you provisional credit to cover the losses with 5 business days....

Unfortunately the scheme "does not apply to ATM transactions"
which is where skimmed cards are often used, like mine was.

 

[kindy01p]

Unfortunately the scheme "does not apply to ATM transactions"
which is where skimmed cards are often used, like mine was.

So was the fraudulent transaction made at an ATM? Because this is what this means.

 

[TheRealTMA]

I know someone who had a card that was compromised twice within five months (the original card, and then the new replacement card which had a different number)! After I heard that, we both got RFID slips, and no compromises on any cards since! (18 months).

Purely circumstantional I know, but they worked in this case.

For only about $8, it's been worth it for me.

Welcome to the world of serendipity.

 

[van]

I have had 2 incidents with a CBA credit card duo. First was a lost wallet and the CBA upon immediate notification cancelled the card and any unauthorised use was rescinded. The second was unauthorised transactions by another party. Again the card was cancelled and all unauthorised transactions deleted without penalty. Bankwest is a subsidiary of CBA and should have the same policy. The only pain was not being able to access the bank accounts to which the card was linked.

 

[flyingsyd]

So was the fraudulent transaction made at an ATM? Because this is what this means.

Correct. Skimmed card. Used at ATM. Unfortunately out of the Zero scheme. Need to wait for 45 days etc.

 

[Notesvision]

Ditto with HSBC. They sent an SMS advising of fraudulent transactions, cancelled the card and sent a new one but all the transactions were copied to the new card. One has subsequently been reversed but the rest are still there and I am advised to wait until it is investigated. Meantime I’m to still make payments on the full balance. Did check their FAQs and it was listed there as described over the phone.

 

[pauly7]

- - -

I suggest Bankwest are doing what every other bank does.

I have used Latitude Financial's (fee & OS charge fee free - 28 Degrees) card for many years while OS. Oft times I have had to contest transactions. ALWAYS have been instructed to pay in full and await resolution.

Invariably, the disputed transaction is awarded in myfavour and the payments I've made are returned.

I accept this asnormal.

Cheers

I don’t and thankfully Citibank and Amex direct don’t either . They both reverse immediately.

 

[flyingsyd]

I don’t and thankfully Citibank and Amex direct don’t either . They both reverse immediately.

Citibank certainly isn’t reversing fraudulent transactions immediately.

 

[p--and--t]

To add to the comparisons...ANZ.

Received a text in the middle of the night which I read on awakening in the morning saying "your Visa credit card has been cancelled- you will receive a replacement in the mail in 3 days time - please ring ANZ on <<...>> for further information"

I called the ANZ and they told me there had been 3 transactions on my card overnight in the USA. They were pretty sure it wasn't me from the algorithms in their fraud detection software, so they cancelled the card. My partner's card would continue to work ok. A new account appeared in online banking with all my transactions but no sign of the fraudulent transactions which had been removed already. The new card arrived 3 days later. I activated it and heard no more about the matter.

Proactive, rapid, precise, clean, no-fuss and no onus on me.

 

[theblank]

Turns out Bankwest's "policy" is that the charges stay on your statement for up to 8 weeks while they investigate. They advise continuing to pay your bill as normal - and if that means paying off the full amount, including the fraudulent charges.

I think you have mistaken the information Bankwest has told you. What you describe is normal for all banks.
You are not actually required to repay in full or part the amount of the disputed transactions, and they will not pursue you for debt recovery for these amounts. When you get your next statement there will be some sort of notation to this effect, and probably on every statement thereafter.

However, if after their investigations, the decide that the transactions are valid, then you are liable to repay that debt AND all interest charges backdated to the original date. Bankwest has simply made this clear to you now, so that if it happens you cant claim you were not told.

The person you spoke to has no authority to declare the disputed transactions as fraud, so has covered all bases by recommending you pay these in full, just in case. You have a clear choice in the matter whether you do that or not.

the procedures for disputing of transactions is governed either by the Code of Banking practice or some other legislation or regulation (I'm almost certain its legislation). No bank is going to do this any different to the others, becuase they cant.