ABSA Credit card Fraud

[Greg C]

It is possible if the credit card has a R18 000 positive balance.

I think I was being Naive, or didnt read fully. Why anyone would put a Credit balance into their credit card I dont understand, as the credit interest was removed long ago as that financial trick. And also the mention of a fusion account.

None the less they cant just decline. Wish you luck Mate, keep fighting them.

 

[SauRoNZA]

Ah the fusion account. Damn. Thats how the excess limit was taken then 1 card, with a credit card limit plus a credit balance :/

I'm on a Fusion account, nothing to do with the OP.

You realise people can have a positive balance on their credit cards right?

You could easily swipe for a R100,000 if you had that loaded on your credit card even with a 25k credit limit.

 

[SauRoNZA]

I think I was being Naive, or didnt read fully. Why anyone would put a Credit balance into their credit card I dont understand, as the credit interest was removed long ago as that financial trick. And also the mention of a fusion account.

None the less they cant just decline. Wish you luck Mate, keep fighting them.

Because people don't want to use the credit but want all the other benefits of a credit card and the related credit record etc.

I've very rarely ever had my credit cards in a negative outside of a little planned expenditure and facilitating cash flow.

By and large why I have the Fusion account now as it gives me all the credit card benefits and cheque options all in one thing.

 

[Ams1979]

I am abit worried with the story.

The bank cannot just decline to payout without a valid reason as we have public and private liabilities linked to transactional fraud. My point is, the fraud that went off as a base. You stated the CC has a limit of R25k, but more than R40k went off the card? Thats not possible. Unless its two cards. Next. Did she file an affirdavit? Your mom reported it, but you actually need to fill out a form (essentially an affirdavit) for the transactions dates. You then have (i stand corrected) but I remember 21 Business days for investigation.
From an investigation perspective it becomes difficult at times, if it was via pin and code verification. Now you need to prove further whether these transactions are out of normal behaviour.

bank cant just decline a fraud claim. Its a process. Get the decline report and take it further. Request your statements on the card to ensure the transaction have indeed cleared, and request a report as to how R40+ cleared on a R25k limit?

As I said before the card had a credit limit of R25000 but she had additional cash R18000 of her own money in the account which was used as well. She was not aware of the forms to be completed as she was not informed about it when she cancelled the cards and reported the fraud.

I have requested a report from the bank and received an email this morning about the process going forward and will take that further as soon as I have all the details.

thnx

 

[muisnes]

Have you tried logging a chargeback request on the transactions?

Iirc it is a facility of all major credit cards (Visa/Mastercard/Amex) where the transaction is reversed if you don't receive what you're paying for.

It is how we got our money back when 1Time folded back in the day.