Debit Card Fraud FAQs
Legends Bank takes every precaution to protect you and your money. Unfortunately, fraud activity is on the rise and impacting merchants and financial institutions nationwide.
This resource page provides answers to questions that will help you understand our process of handling compromised debit cards and fraud as well as tips to help safeguard your checking account and decrease your chances of becoming a victim of identity theft and fraud.
Legends Bank attempts to be as proactive as possible in notifying you when we are made aware that a breach/compromise has occurred which may affect you. That is why having current contact information on file with us is important.
Recent Debit Card Changes
Recently, we made some changes to where and how your debit card can be used. Some countries and states have had increased fraudulent activity, therefore, debit card transaction restrictions have been placed to mitigate fraud risk.
The following countries are now restricted, therefore debit card transactions will not be processed. This may include merchants, whose payment processing is located in these countries:
- Russian Federation
Additionally, the following states have been restricted to PIN-based transactions only, meaning you will need to use your PIN in order for the payment to process. Exceptions to this include restaurants, bars, and fast food places:
- New York
Lastly, restrictions have been placed on grocery stores and pharmacies as these business/merchant types have also been victims of increased fraud activity. Some of these merchants will allow signature-based transactions for any purchases of $50 or below. Anything over that amount will require a PIN.
All of these precautionary measures are subject to change at any time based upon fraud activities in various countries, states, and business/merchant types.
What does card compromise mean?
If you are notified that your card has possibly been compromised, it means that credit/debit card information may have been obtained by unauthorized individual(s). Most compromises are the result of criminal(s) “hacking” into a merchant’s or card processor’s computer system and gaining unauthorized access to data within those systems.
Where was my card breached/compromised?
When a breach/compromise occurs, Legends Bank receives related information directly from Visa. Unless it is a breach that may affect millions of cardholders, Visa very rarely releases the name of the merchant or card processor where the breach/compromise occurred.
What information was obtained from my card?
Your debit card has limited information encoded specifically for the card, such as the card number and expiration date. Other confidential information (Social Security Number, date of birth, addresses, driver’s license numbers) are not stored on your card.
Does this mean someone is using my card and I will have fraudulent charges to my account?
Not necessarily, but there is potential, which is why it’s important to contact the bank once you are aware of a breach/compromise and continue to monitor your accounts. Report any fraudulent activity to the bank immediately.
Will the bank notify me when a compromise occurs?
Absolutely! Once the bank receives notice of a breach/compromise, we attempt to notify affected cardholders in various ways. We will attempt to call you using the phone number attached to your account record and mail you a notification letter to the mailing address attached to your account record. If your email is on file with us, we may also attempt to notify you via email.
Having your current email and mailing address, plus daytime phone number on file with us is important. This is how we will attempt to contact you in case of a potential compromise that may affect you.
Will I get a new debit card?
Yes. For your protection, we will order you a new card to replace the one that may have been affected by the breach/compromise.
How do I activate my new card?
Once you receive your new card, you will need to activate it in order to use it. We encourage you to change your PIN at the time of activation for your protection. If you have any issues activating your card, please contact the bank and one of our Personal Bankers can easily activate it for you.
Is there a charge to receive my new card?
No, we do not charge a replacement card fee due to a breach/compromise.
How long will it take to receive my new card?
Depending on the size of the compromise, it will take approximately one week for all cards to be produced. You will have the option to pick up your new card from one of our convenient branch locations, or if you would prefer, the card can be mailed to the address attached to your account.
Will my old card still work?
Yes, for a period of time. Typically we allow 2 weeks for your old card to remain active while your new card is being produced. During that time your card will have lowered dollar limits to help minimize potential fraud. After that period of time, your old card will automatically be deactivated and you will no longer be able to use it. If you choose to cancel your card immediately, you can do so by contacting one of our Personal Bankers at 1-866-391-1925 during normal business hours. After hours, weekends, and holidays, you can call 1-866-391-1925 and select Option 1 to be connected to a customer service representative.
What if I have preauthorized debits to the card that has been potentially compromised?
Once you have received your new card and successfully activated it, you will need to contact the merchants where you have authorized automatic payments from your debit card and provide them your new card number, expiration date, and possibly the 3-digit security number on the back of the card.
If Fraud does occur on this account, what should I do?
If you notice fraudulent transactions on the account linked to the compromised card, contact a Legends Bank customer service representative to have the card deactivated immediately. Contact the merchant that charged your account and let them know that the charge was fraudulent. Visit one of our branches and fill out a fraud form. Information we will need to better help you includes the date and amount of the fraudulent charge, name of the merchant, name of the person you spoke with, the date you contacted the merchant, and the merchant’s response.
How do I prevent this from happening again?
Unfortunately, banks do not have a way to stop cybercrimes from happening, but following a few simple steps can lower your risks of being a victim. See Tips to Prevent Identity Theft & Fraud.
Tips to Prevent Identity Theft & Fraud
Check your account on a regular basis by signing up for online and mobile banking. These convenient services allow you to check your account activity 24/7 from your computer or smartphone and make it easy to spot problems early. The sooner you detect fraud, the easier it will be to reduce further impacts to your account(s).
In the event that you detect fraud on your account, contact the bank immediatley.
Identity Theft Protection & Credit Monitoring
With the rise of cybercrimes and identity theft, it’s important that you are proactive about protecting you and your family’s identity. Signing up for identity theft protection and/or credit monitoring services is often easy to set up and inexpensive. Legends Bank offers both in our Legends Secure Checking account.
Other Tips to Protect Yourself
Get Account Alerts- Legends Bank offers account alerts through online and mobile banking. These alerts help you further monitor account/transaction activity and are received by email and/or text message(s) when certain activity occurs on the account.
Go Paperless- E-Statements is a free service we offer that will eliminate the possibility of having bank account information stolen from your mailbox. if you choose not to go paperless, be sure to shred existing bank statements and other confidential documents with a diamond-cut shredder before throwing away. This will reduce the possibility of having confidential/personal information stolen from your trash.
Stay Informed About Cybercrime & Scams- Cybercrime is on the rise and is becoming more sophisticated with the advancments in technology. Below is additional information and quick links with helpful resources about various types of cybercrime and scams that could potentially affect you. Learn More.
Protect Your Computer- Be sure your computer is protected by a firewall, anti-virus and anti-spyware software and that it is updated regularly.
Update Passwords- If a password is easy for you to remember and includes your first/last name or initials, date of birth, number sequence (1 2 3 4, etc.), it might be easy for a “hacker” to get too! Strong passwords contain a combination of at least one upper case and one lower case letter, symbols, and numbers and are no less than 6 characters long. Learn More.
Use a Secure Network- When using your computer to do any financial transactions online, be sure you are on a secured network. To know that you are on a secure network the URL will begin with https://.
Helpful Tips & Other Resources
Learn more about Cyber Security and Fraud Prevention/Protection with these helpful video tutorials and articles.
- Are You Protecting Your Email Accounts?
- Tips for Creating Strong Passwords
- Using Strong Passwords for Online Accounts
- What is Phishing & Smishing?
- Protect the Information on Your Smartphone
- How to Protect Your Money When You Travel
Phone (Regular Business Hours): 1-866-391-1925
Phone (After Hours, Weekends, Holidays): 1-866-391-1925 (Select Option 1)