Your money isn't safe in a bank account: debit order fraud

[WhyME]

... How can the bank not tell you where the transaction took place if its on your own card...?

They said to me leave that to investigator, they said they cannot check on their systems hahahaha! You can also obtain this info from authorizations department. On the statement I could see name of the shop but not where it is located so I could prove that I was never there!

 

[w1z4rd]

Standard Bank senior manager and media complaints liaison Joop Dekker, notes that the bank has no obligation to protect its clients from debit order abuse.

Says Dekker: “Contrary to public belief the bank has indeed no obligation to verify the authenticity of any debit order, and as such the bank merely fulfils the function of a payment facilitator where any debit order is presented for payment

So glad I moved my main banking away from STD bank. They really dont give a **** about their clients.

 

[spiff]

So glad I moved my main banking away from STD bank. They really dont give a **** about their clients.

YIP ME2 - fook std bank!! keep just enough in the account to cover the remnants of my bond and insurances nothing more

 

[Alton Turner Blackwood]

I can reverse any and every debit order on my account if it happened within the last 40 business days by simply picking up the phone. Within 24hrs the money is reversed.

Standard Bank Prestige

 

[ToxicBunny]

As far as I knew, a bank needs to have a signed debit order form?..

Number 1 reason I am getting rid of debit orders as and when I can..

HomeLoan, Insurance, Med Aid, and cellphone are all that I have left...

Next year it will just be HomeLoan, Insurance and MedAid... and they are checked every month...

 

[Alton Turner Blackwood]

As far as I knew, a bank needs to have a signed debit order form?..

Number 1 reason I am getting rid of debit orders as and when I can..

HomeLoan, Insurance, Med Aid, and cellphone are all that I have left...

Next year it will just be HomeLoan, Insurance and MedAid... and they are checked every month...

Debit order is one thing, but debit order using NAEDO is from the devil.

Remember NAEDO can watch your account for when money comes in, so if you have a monthly debit order going of on the 30th of each month, but someone deposited a R10 000 he owed you on the 26th...hulle vat'om, pappa!

 

[MagicDude4Eva]

I can reverse any and every debit order on my account if it happened within the last 40 business days by simply picking up the phone. Within 24hrs the money is reversed.

Standard Bank Prestige

You can also just send a secure message via internet banking. Prestige/private customers can just get hold of their banker and get it sorted and put a permanent stop-payment on those transactions.

 

[ToxicBunny]

Debit order is one thing, but debit order using NAEDO is from the devil.

Remember NAEDO can watch your account for when money comes in, so if you have a monthly debit order going of on the 30th of each month, but someone deposited a R10 000 he owed you on the 26th...hulle vat'om, pappa!

I'd forgotten that NAEDO doesn't require signatures and all that...

But it doesn't watch your account from what I remember. As far as I knew when I was investigating NAEDO for a business opportunity, that you can chose to have a NAEDO run on a period of days, and if there is money on any of those days then the NAEDO request is fulfilled.

 

[Hosehead]

I donate money to the SPCA via debit order which is supposed to go off on the 1st of each month but it goes off whenever it feels like it...

Please reconsider donating to a non high kill charity instead.

 

[Hosehead]

You can also just send a secure message via internet banking. Prestige/private customers can just get hold of their banker and get it sorted and put a permanent stop-payment on those transactions.

I think the stop payment instruction has to be renewed every six months. You may want to check.

All debut orders can be reversed if they are within a window period 30? 60? days

Altech lifted several thousand rand in unauthorised debit orders and I was passed from pillar to post. It was never resolved but the number was suspended and a credit has built up. I want to make the number payasyougo and will forfeit 5k worth of airtime just to be shot of them and will port over to another company.

 

[spiff]

I think we should have a "run" on the banks!

remind them who's in charge once and for all! :twisted:

 

[supersunbird]

Please reconsider donating to a non high kill charity instead.

Yes, like wetnose or similar

 

[dyanamo]

Does not matter whether its a NAEDO or instant type debit, all can be disputed easily if within 40 days.
To debit you all I need is your account number (I can guess the bank/branch based on the number) and I can debit you.
If you are debited maliciously its more than likely a call center. They are the bane of the debit order processing industry but a necessary evil as well.

Anyways if you have any queries about debit orders you can drop me a PM as I am in the industry.