Am I really liable?

[shadow_allan]

I am being asked to pay for the charges incurred in my card after it was stolen from my wife's wallet. The bank says I was negligent in lending the card to my wife (she uses it to acquire link points).

The police report has already been lodged and it still under investigation with some progress made.

Do I really need to pay?

 

[invisible999]

I am being asked to pay for the charges incurred in my card after it was stolen from my wife's wallet. The bank says I was negligent in lending the card to my wife (she uses it to acquire link points).

The police report has already been lodged and it still under investigation with some progress made.

Do I really need to pay?

Does Singapore has a law limiting customer's liability from non-authorized transactions?

 

[hwmook]

Yes, up to a certain extent. Banks will insist that you did not take care of it.

 

[shadow_allan]

So should I really pay in full?

I can pay the minimum to do away with the finance charges but the interests will still be there.

There is a clause where I just need to pay 100 sgd if they do not think I was negligent.

But banks being banks, they will do anything to get me to pay.

I also sent a mail to FIDReC to see if there is any other step I can take .

 

[invisible999]

Yes, up to a certain extent. Banks will insist that you did not take care of it.

Let me understand this correctly - I, as a customer (and victim of the crime) am assumed to be guilty until proven to be innocent, right?

Anyone can provide a link from T/C of popular credit cards/banking institutions stating that customer is liable?

 

[reddevil0728]

So should I really pay in full?

I can pay the minimum to do away with the finance charges but the interests will still be there.

There is a clause where I just need to pay 100 sgd if they do not think I was negligent.

But banks being banks, they will do anything to get me to pay.

I also sent a mail to FIDReC to see if there is any other step I can take.

u admitted that your wife is swiping cards under your name (i am not talking abt supplementary, but cards which you hold yourself)

 

[kendoarts]

Your card can only be held by you yourself. If any illegal transaction were made because your card was not with you intentionally, then you are definitely liable.

However, if you lost the wallet yourself where your credit card is inside, and someone used your credit card, then most likely, they are able to put it under their 'bad debts'.

 

[lusunshine]

Firstly, you breached the cardmember agreement by letting your wife hold and use your card. Secondly, you are either too honest or too stupid to let the bank know it. In conclusion, yes you are liable.

 

[reddevil0728]

Firstly, you breached the cardmember agreement by letting your wife hold and use your card. Secondly, you are either too honest or too stupid to let the bank know it. In conclusion, yes you are liable.

sums it up

 

[shadow_allan]

damn! a pretty expensive lesson then!

but what about the merchant? arent they also liable in verifying the consumer?

it was a 2.4k transaction for godsakes and all the merchant did was swipe the card not even checking the signature and the gender

 

[Inix]

damn! a pretty expensive lesson then!

but what about the merchant? arent they also liable in verifying the consumer?

it was a 2.4k transaction for godsakes and all the merchant did was swipe the card not even checking the signature and the gender

1: You should have given your wife a Supp card instead of passing her your card.

2: You were exceptionally honest &/ stupid by telling the bank the truth

 

[hwmook]

Let me understand this correctly - I, as a customer (and victim of the crime) am assumed to be guilty until proven to be innocent, right?

Anyone can provide a link from T/C of popular credit cards/banking institutions stating that customer is liable?

What is there to prove when TS has already admit his guilt that he had not been taking care of his card which is not even with him when it was lost.

Trust me, i have reversed many unauthorized transactions, 4 alone this year amounting to thousands of dollars and i did not pay a single cent. As long as you take reasonable care of your cards, the banks will not come after you. They will even credit the money back to you while they attempt to get back the money themselves.

 

[hwmook]

damn! a pretty expensive lesson then!

but what about the merchant? arent they also liable in verifying the consumer?

it was a 2.4k transaction for godsakes and all the merchant did was swipe the card not even checking the signature and the gender

I don't recall gender being listed on the card.

The merchant is never at fault because the card was present during transaction. In such cases, either the bank or card holders have to take the losses.

 

[Inix]

I don't recall gender being listed on the card.

The merchant is never at fault because the card was present during transaction. In such cases, either the bank or card holders have to take the losses.

I think he is talking about the gender from the name bah

 

[commonguy]

I think he is talking about the gender from the name bah

The gender of his name should not match his wife also, but he expects the wife to be able to use it. Meaning the whole time he expects merchant NOT to check, but want the merchant to check this particular time?
Sorry TS, in this case you are liable.

 

[greddy88]

damn! a pretty expensive lesson then!

but what about the merchant? arent they also liable in verifying the consumer?

it was a 2.4k transaction for godsakes and all the merchant did was swipe the card not even checking the signature and the gender

did your wife sign her own signature or forged yours when she was using your card??

 

[swordspirit]

I am being asked to pay for the charges incurred in my card after it was stolen from my wife's wallet. The bank says I was negligent in lending the card to my wife (she uses it to acquire link points).

The police report has already been lodged and it still under investigation with some progress made.

Do I really need to pay?

Agrees quite stupid. But why there is no notification? What exactly did u told the bank? Can u change to say that u left your wallet with her?

 

[hwmook]

did your wife sign her own signature or forged yours when she was using your card??

I think its an NTUC card since he mentioned linkpoints and small spending at NTUC don't require signature.

 

[swordspirit]

I think its an NTUC card since he mentioned linkpoints and small spending at NTUC don't require signature.

but doesnt explain why 2.4k spending and no sms notification?

 

[anfielder]

but doesnt explain why 2.4k spending and no sms notification?

maybe he didn't turn the notifications on, or the threshold is set higher than 2.4k.