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Chase debit cards: Lower limits on debit cards after Target security breach

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Chase debit card customers are being affected after more than 2 million shoppers used bank debit cards at Target stores during the data breach from Nov. 27 until Dec. 15. Tthose shoppers are now finding they have lower limits on how much cash can be taken out of their teller machines and how much they can spend at stores, according to a Chicago Tribune report on Saturday.

Target: Credit and Debit Card Security Breach puts 40 million Customers at Risk

On Saturday, JPMorgan Chase & Co informed its customers who used Chase-brand debit cards at Target during the security breach that they are limited to only $100 a day of cash withdrawals and $300 per day for purchases on their cards. According to the report, this measure involves approximately 2 million accounts which equates to some 10 percent of Chase debit card owners. Ordinarily, a Chase debit card cardholder’s cash withdrawal limit is from $200 to $500 while the purchase limit is $500.

Chase asserts that its actions are precautionary in an effort to prevent criminals from taking money from customer accounts. Chase, as well as other banks, have said that unauthorized transactions reported by customers will be covered for their customers.

According to Reuters, while other banks such as Citigroup Inc and Bank of America Corp have taken measures to protect their customers’ accounts, none have gone to the extent that Chase has. Other banks have not specified the precautions they have in place at this time.

Target-specific, the store’s Redcard has reportedly enacted a deeper monitoring protocol, and like many of the banks, the new measures have not been specified for the media at this time.

Target stores were basically hacked from Nov. 27 through Dec. 15, 2013, putting persons who swiped their payment cards at Target stores at risk of having their cards duplicated and used via criminal activity. Overall, more than 40 million customers may have been affected.

Target is giving customers a 10% discount on Saturday and Sunday. The discount is not good for all items – such as not being good for gift cards, mobile phones, video games and some other items. The 10% discount is the same that the store’s workers receive, according to Gregg Steinhafel, Target’s chief executive.



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