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HSBC not reimbursing my money after fraudulent cash withdrawals and transactions

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  1. #1

    Join Date
    Nov 2019
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    Post HSBC not reimbursing my money after fraudulent cash withdrawals and transactions

    Hi there, I am seeking some legal advice.

    On 5th of October, my VISA credit card got stolen and the person who stole it most likely saw my pin code while I was withdrawing some cash myself.

    A few minutes later, they withdrew a total of HKD79,000 and attempted to make some transactions, one of them went through for an amount of HKD26,998.

    I reported the loss of my card to HSBC a few hours later when I realised I did not have it anymore. I also reported this case to the Police.

    HSBC does not want to reimburse the money that was stolen from me and wrote me this:

    "According to clauses 7 (b) in the ATM Card Terms and Conditions (ACT&C) governing the use of an ATM card or PIN, we are not liable to customers or any other person for any consequential or indirect loss arising from or in connection with the use of their ATM card."

    Is there anything that can be done to get the bank to reimburse the money? CCTV cameras can show I was not the one to withdraw the money and I had never withdrawn such amount (divided into 5 withdrawals).

    Any advice would be deeply appreciated.

    Best,
    Anthony


  2. #2

    Join Date
    Dec 2009
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    4,833

    Was this in Hong Kong, and were you drunk?

    You could have given your card + pin to a friend to use.


  3. #3

    Join Date
    Mar 2010
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    236

    My hunch is that banks are not liable for (fraudulent) ATM withdrawals, and why should they? Anybody can give their card to somebody who will be leaving HK immediately after withdrawing the cash, report to police and then get the bank to pay up?

    Your chances of getting the money back will be if the police can identify and arrest that person making the withdrawals, and who has not already spent the money.

    shri, emx and chuckster007 like this.

  4. #4

    Join Date
    Feb 2005
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    if the pin was used to get money from your card, i think you are screwed and what the bank came back to you with "According to clauses 7 (b) in the ATM Card Terms and Conditions (ACT&C) governing the use of an ATM card or PIN, we are not liable to customers or any other person for any consequential or indirect loss arising from or in connection with the use of their ATM card." Basically covers them from your loss.

    Like what darren said above, your only hope is that the fucker(s) that stole your money, if they are caught and still have it then you might get some back.

    the transaction that went through for HKD26,998, was it a store purchase or online, do you have online transactions sending you msgs to your phone set up if it was for an online.


  5. #5

    Join Date
    Oct 2010
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    19,578
    Quote Originally Posted by emx
    Was this in Hong Kong, and were you drunk?

    You could have given your card + pin to a friend to use.
    What on earth in the OP's post leads you to think that? The OP clearly says the card was stolen.

  6. #6

    Join Date
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    Quote Originally Posted by TheBrit
    What on earth in the OP's post leads you to think that?
    I suspect because there have been a fair few posts over the last 10 years on Geo where stuff has gone missing from bank accounts after a night out on the town.

  7. #7

    Join Date
    Sep 2017
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    654

    On cash theft-

    People literally hide their ATM pin with their hands (while pressing down the button) and then check the balance with the open wide and wild world lurking behind them. Been a witness to a balance of mere 4K to a good many zeros behind a silly digit. I say, what's the use of hiding your pin if you're going to exhibit your money to the public? That's how thieves sniff the track of your money.

    Hide your pin. Get the cash out. Check your balance online , not on the big fat machine. Sounds simple but simple things when ignored make things complicated.

    traineeinvestor likes this.

  8. #8
    jgl
    jgl is offline

    Join Date
    Aug 2006
    Posts
    10,215

    Another PSA (but obviously of no use to the OP):

    Don't key in your PIN with just your frikkin' pointer finger. It makes it really obvious which buttons you are pressing.

    Treat it like touch typing. Index finger goes over the 5 key and you use pointer/index/ring to enter the PIN. You can do this without your hand moving at all, and it's both incredibly easy and impossible to shoulder surf.


  9. #9

    Join Date
    May 2015
    Posts
    389

    I know I can't speak for all, but I rarely have my actual ATM card on me. I carry around $500 in cash and I will mostly use that for taxis or small places that only accept cash. Everything else is credit cards, octopus card or using my phone wallets to pay. I'll only carry my atm card if I specifically need to deposit or withdraw money but then afterwards I'll leave my ATM card at home.


  10. #10

    Join Date
    Aug 2013
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    Also another reason to set a low overseas daily withdrawal limit, and to move as much money as possible out of the ATM-linked account and keep it in a different sub-account that can't be accessed by the ATM card.


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