• Thu
  • Dec 18, 2014
  • Updated: 8:37am
NewsWorld

Millions of Target shoppers in America face new debit card limits

PUBLISHED : Monday, 23 December, 2013, 5:04am
UPDATED : Monday, 23 December, 2013, 5:04am
 

At least two million shoppers who used bank debit cards at Target stores during its recent data breach are facing lower limits on how much cash they can take out of teller machines and spend at stores.

JPMorgan Chase & Co said on Saturday it was notifying customers who used Chase brand debit cards at Target from November 27 through to December 15 that they were now limited to US$100 a day of cash withdrawals and US$300 a day of purchases with their cards.

The new limit affects roughly two million accounts, or 10 per cent of Chase debit cards, according to a spokeswoman for Chase, the consumer banking business of JPMorgan, the biggest US bank by assets.

Chase said the measure was precautionary to prevent criminals from taking money from customer accounts. Chase and other banks say they will cover unauthorised transactions that customers report.

"Banks are putting various precautions in place," Target spokeswoman Molly Snyder said, declining to be specific about what the banks were doing.

Representatives for other major banks, including Bank of America and Citigroup, said their institutions were taking steps to protect accounts, but none described specific actions so broadly limiting to cardholders as those of Chase.

Chase said in its notice to customers that it realised its move "could not have happened at a more inconvenient time with the holiday season upon us".

At Chase, the usual debit card daily limits are US$200 to US$500 for cash withdrawals and US$500 for purchases.

Share

For unlimited access to:

SCMP.com SCMP Tablet Edition SCMP Mobile Edition 10-year news archive
 
 

 

 
 
 
 
 

This article is now closed to comments

ClarkeJohnston
Chase is merely using the unfortunate Target hacking matter as an excuse to use punitive measures against their customers. This isn't necessary, and sets low limits on customers. Even worse, and more telling, is that in so doing, Chase is DISCOURAGING saving money, and ENCOURAGING the use of credit. Of course, consumers! Get more into debt! Owe us money. Love that APR interest rate. This is NOT about any potential damages Chase might suffer. Give me a break.

Login

SCMP.com Account

or