JPMorgan Chase Limits Chase Debit Cards Used at Target Stores

Saturday, 21 Dec 2013 03:08 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
JPMorgan Chase & Co. on Saturday notified customers who used debit cards at Target Corp stores during the recent security breach that it limiting use of the cards to cash withdrawals of $100 a day and purchases totaling $300 a day.

The new limit affects roughly 2 million accounts, or fewer than 10 percent of Chase debit card accounts, according to a bank spokeswoman. It does not apply to credit cards.

The bank spelled out the limits in an email to customers with the subject line: "Unfortunately, your debit card is at risk by the breach at Target stores."

The bank said it was taking the action as a precaution and recognized that the move "could not have happened at a more inconvenient time."

Target said on Thursday that computer hackers had stolen data from as many as 40 million credit and debit cards of shoppers who visited its stores during the first three weeks of the holiday season.

The bank said in the letter that it plans to reissue affected debit cards over the coming weeks and in the meantime said employees at its 5,600 branches would help those who need more cash. Many branches will stay open late "if needed," the letter said.

Debit cards, unlike credit cards, typically require customers to enter personal identification numbers when they make purchases at store check-out counters. Initial reports of Target's security breach said data may have been taken through devices at its counters.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved