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How long does it take to get back money stolen via a skimmed bankcard?

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Posted by alibkord alibkord
Message 1 of 5 1,239 Views

My card was skimmed and someone withdrew just over two thousand dollars from my savings account via different ATMs in Sydney over a two-day period. I had my card with me all the time and no-one knows my pin, so this is most probably a case of card skimming.

I contacted bankwest immediately and they froze my card and asked me to submit a "dispute form" and I was told it can take up to 8 weeks for the dispute to be handled, and they couldn't guarantee that I will get my money back.

I've talked to a few people who have gone through a similar situation either in Australia or overseas and in all cases the bank (including Commonwealth bank) immediately returned their money before even doing an investigation.

Have you had your Bankwest bankcard stolen or scammed in a similar way, or somehow had money stolen from your bank account? If yes, did you get it back? After how long?

Thanks,

Ali

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Re: How long does it take to get back money stolen via a scammed bankcard?

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Posted by SarahF SarahF
Message 2 of 5 1,235 Views

Hi @alibkord, we will certainly look into this for you once the transaction dispute is completed and our team can look into this. In some cases it can take 6-8 weeks however I can assure you that our team will be onto this ASAP as we understand this is a large amount of money.

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Re: How long does it take to get back money stolen via a skimmed bankcard?

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Posted by thewinchester thewinchester
Message 3 of 5 1,235 Views

Bankwest's official information on this:


If you have already lodged a Transaction Dispute form and you’re waiting for the funds to be returned to your account, please bear with us while we complete our investigation. Disputes of this nature can often take several weeks to resolve as we often need to retrieve documentation from the other financial institutions or merchants involved. We will contact you as soon as our investigation is complete.

Looking through the PDS and other documents related to transaction accounts, there's no clear statements on the timeline for this.

 

If the unauthorised use of your account has resulted in financial hardship, I'd strongly suggest calling Bankwest to ask that they expidite the investegation, or make a faster ruling to confirm that you weren't liable for the transactions so as to restore your funds to the account faster. Nothing wrong with applying a little pressure and follow up to get things moving IMHO.

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Re: How long does it take to get back money stolen via a scammed bankcard?

Posted by alibkord alibkord
Message 4 of 5 1,229 Views

@SarahF, I sent a police incident report number yesterday via bankmail as requested by your colleague. Any update on your investigation or when I will be reimbursed? Thanks.

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Re: How long does it take to get back money stolen via a scammed bankcard?

Posted by SarahF SarahF
Message 5 of 5 1,228 Views

Thanks @alibkord, via the Forum I'm not able to view the case to give any updates however our colleague will keep you updated via BankMail. If you'd like an update now you can give our team a call on 13 17 19. ^Sarah

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