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HSBC Bank Sends Activated Debit Cards Through Mail
Knowzy writes "At least two divisions at HSBC Bank apparently failed card issuing 101 and are mailing out debit cards pre-activated. Because they are debit cards, fraudulent transactions come directly out of a victim's checking account. A similar report from 2004 suggests this issue is longstanding and widespread. When confronted with the evidence, HSBC would not commit to fixing this issue, preferring instead to offer vague statements like, 'Through our systems and analytics, we focus on the greatest and most active threats in an effort to avoid negatively impacting customer experience.'"
'Through our systems and analytics, we focus on the greatest and most active threats in an effort to avoid negatively impacting customer experience.'
Oh by the way look at this other shiny pretty stuff we've been doing to divert your attention from this major fuck up, which we kinda did on purpose to save on customer service costs when you idiots try to use your unactivated cards.
Not that they are perfect but I've been much happier with my credit union than any commercial bank I've used in the last 20 years...
I still cannot find the droids I am looking for...
'Through our systems and analytics, we focus on the greatest and most active threats in an effort to avoid negatively impacting customer experience.'"
If you look at identity theft there are 3 "greatest" threats, stupidity on the part of the cardholder, stupidity on the part of the bank, or stupidity on the part of a third party. Even the best individual practices can't protect against stupidity from the bank or stupidity from a third party that has your card info for a legitimate reason.
For some reason banks seem to think that they aren't a threat to someone's security of their identity, they are a -huge- threat because they have all the information identity thieves need to make fraudulent purchases. Such things like this will undoubtedly have pressure put on the post office and mail handlers rather than the main culprit, the bank.
Taxation is legalized theft, no more, no less.
Well, you know, if they are going to pay for adequate customer service, then the upper level management will not be paid as many millions of dollars per year as they are paid now. Think of the suffering of executives and shareholders before you start worrying about customers!
Palm trees and 8
Call them on your way out the door as you close your account.
---- Booth was a patriot ----
The lack of even the rudimentary security is precisely the reason I refuse to carry a debit card. Without your knowledge, your checking account is empty and your mortgage bouncing.
With a credit card, you get to argue with the bank about their money.
With a debit card, you get to argue with the bank about your money.
What happens when the bank denies your dispute? With credit cards, you get nastygrams. With debit cards, your mortgage starts bouncing. Again.
I'll take an ATM card any day of the week over a signature debit card.
SirWired
USPS: The service you use when if it gets lost, it's not your loss. Insurance available if money can replace what you lost.
UPS/FedEx: The services you use when you want to know where your package is, possibly change the delivery address or pull it back before it's out for delivery, and want confirmation that it got there or at least was dropped at a secure location like a mailroom or co-branded store location.
There's a reason why UPS and FedEx can charge much more for moving a piece of paper... they do it with a whole lot more features than USPS could ever offer.
I would normally tell you that, unless you NEED the money, to please stop burdening our critically in debt country (and yes, the debt is at critical mass now). However, I encourage you to keep collecting unemployment so that the actual, reported unemployment number better reflects the true unemployment rate.
As it stands now, Obama keeps trotting he is successful in lowering unemployment from 9.9% to 9.5%, but whatever. If you count those fresh out of HS/college that can't find a job, those whose unemployment benefits already expired and those who simply gave up looking, the unemployment rate is actually 18.7%! That's right, nearly 1 in 5 Americans are out of work. So, do your duty and represent us.
I would worry a lot about the statement 'Through our systems and analytics, we focus on the greatest and most active threats in an effort to avoid negatively impacting customer experience.'
That would seem to indicate they have much worse problems than the pre-authorized debit cards in the mail that must require a lot of resources and planning to take control of.
Definitely a bank to avoid as both a customer and investor.
If my bank did this I would change banks. I know I have heard of small local banks being hacked and getting debit card numbers. But sending an activated debit card threw the mail is just bad business and bad security.
http://www.thetechnologygeek.org
They closed my account and cancelled my debit card when I was a day or two late paying off an overdraft fee. Believe me, I told them how I feel back then.
But now I feel a little better about it.
I have no debit cards and you will never catch me with one. If a bank sent me one unsolicited I would immediately throw it into the shredder. They are a terrible idea. They make sense only for people with such horrible credit that they absolutely cannot obtain a credit card. They might make sense for people with zero discipline who also refuse to make any effort to identify their lack of discipline as a character flaw and take action to correct it (the word for that is "coward"), but in my opinion a credit card with a very low credit limit would be a better choice even for them.
With a debit card you have all of the responsibilities of a credit card and none of the legal protections. With a credit card, if a merchant tries to rip you off you can chargeback. Chargebacks favor the customer and are a hassle for the merchant. Good luck doing that with a debit card. With a credit card, if someone ever steals my card or its number and runs up thousands of dollars in charges, federal law limits my personal liability to $50 and my bank doesn't bother worrying about that. With a debit card, if someone ever steals your card or its number they can drain your entire checking account and that money is gone.
With credit cards, the risks belong to the bank as a cost of doing business. With debit cards, the risks belong to you. How nice! In short, debit cards are a horrible idea for anyone but the banks. If you have some sense you'd draw that conclusion just from how hard banks were pushing them when they came out. That's because along with sense comes the realization that banks are far from charitable institutions and try hard to get everyone on board with something because it's in their interests, not yours.
If you know who Clark Howard is, he's a good reference for this.
It is a miracle that curiosity survives formal education. - Einstein
You believe the government has a duty to protect you?
Why, yes, actually. Ever heard of "social contract"?
You believe the government has a duty to protect you?
Why, yes, actually. Ever heard of "social contract"?
Yes. Usually from people advocating programs that are funded by money not belonging to them.
Because things like mental illness, physical life-altering handicaps, racism and histories full of physical and mental abuse is just choices people make... not everyone who is 'down on their luck' chose to be. Sometimes its not as simple as declaring its their own fault and they get what they deserve.
Attention... all grammer nazi"s! Is they're anything; wrong with: my post,