it is only temporary, and only until they receive their new cards. and only for those that had their info stolen at target. all fund can be received if you go to the bank, not a total limitation.
from the site.
The security of your Chase card is always our highest priority
As you’ve learned from recent news reports, Target reported that it experienced a data breach on debit and credit cards that its customers used to make purchases in their stores from November 27th through December 15th. Unfortunately, some Chase debit, Liquid and credit cards were identified as at risk because of Target’s security breach.
Here’s what customers should know:
If your card is at risk, we will communicate to you directly.
First and most important, if your card is at risk, don’t worry. All your Chase cards have our Zero Liability Protection.1 That means you're not liable for unauthorized transactions you report to us.
We use sophisticated fraud-monitoring tools to review account transactions and detect unusual spending and ATM patterns. This helps us stop fraudulent transactions.
Here’s what has changed:
Defending against fraud is a top priority for us, so we are taking additional precautions to try to keep Chase accounts safe.
Customers whose Chase debit cards or Chase Liquid Cards are at risk by the Target breach will experience some temporary limits on cash and purchases until we can replace their cards.
If you need cash beyond these limits please visit a branch. With proper identification, you can access your available funds.
Chase credit card customers can continue to use their cards.
Here’s what customers whose cards are at risk can do:
Employees at our 5,600 branches are standing by to help you if you need more cash than $100. With proper identification, you can access your available funds.
Many branches will also stay open on Sunday, December 22nd to help customers.
To find a branch near you, visit our branch locator on chase.com.
Monitor your account -- including using chase.com or Chase Mobile – for transactions you don’t recognize.
We realize this could not have happened at a more inconvenient time with the holiday season upon us. We are taking these precautions to combat fraud and prevent criminals from using Chase cards. Thank you to all of our customers for your patience.
And here is a big thank you to the Chase employees who are working on Sunday to help our customers! They are showing the real spirit of the holidays.
We will see wont we.
We will see just how TEMPORARY it is.
Call me a sceptic, but I dont believe ANY BANKERS, or politicians they are equally disqusting in my eyes.
Just got update from more than 3 people who have accounts there.
They already had replacement cards and STILL have the limits.
Now keep in mind, this is only to limit Chases potential for loss, not the person holding the account.
Yet they explain it to most that they are doing it to "PROTECT the Customer" thats a lie.
The customer is protected by laws and regulations governing the banking industry.
Two of the people who told me about it have even CHANGED their accounts, and with NEW account numbers Chase is limiting their with drawls, sound FISHY to you yet?
Here's the latest:
...especially this part:
"Chase is the lone major bank to impose limitations on debit cards.
The restrictions will limit Chase's exposure, according to Avivah Litan, financial fraud analyst at Gartner.
That's because when cash is withdrawn from an ATM or debit card purchases are made with a PIN entry, that money is gone -- no bank, merchant or credit card company can reverse the transaction.
And if the money was withdrawn fraudulently, banks with "zero liability" fraud agreements, including Chase, are ultimately responsible for refunding the customer.
On the other hand, when fraudulent charges are made on credit cards, the merchant is almost always left with the bill."
"Ultimately, Target (TGT, Fortune 500) will be on the hook for fraudulent charges made as a result of the breach -- and then some."
So there's no boogeyman here - only a bank trying to pass its potential losses on to somebody else. (Hmmmm....I guess that makes ALL banks the boogeyman....)
WELL you have the BANKS lying to their customers, as I pointed out. Its not for our protection, but theirs, and they limit the amount of money people(THE PEOPLES MONEY) can draw out of their banks.
As I read it, the restriction was ONLY at TARGET stores, Icy. BTW: I've NEVER been to a Target store. How often do you go there?
And when banks try to limit their liability it equals "lying?" Where did they say that they were doing anything for "our protection?" What I read was that they were doing it for their own protection.
Sebekm are you kidding me, you didnt read it was to protect their customers?
Its just like taking your rights away, its for your protection too!
I have been reading alot concerning it, but it was in one of the links, I thought this one. Perhaps I posted one where they didn't make that lame statement. Anyway.