HSBC Bank Sends Pre-Activated ATM/Debit Cards In The Mail
HSBC bank has been sending out pre-activated ATM/Debit cards to its customers. The ATM/Debit cards can be used to withdraw funds from the customer’s checking account, placing them at risk. The question is, should the bank send out pre-activated cards that could be stolen in the mail and used by anyone?
A recent article stated these facts:
Since these debit cards draw money directly from your checking account, HSBC’s carelessness puts all of the money in your account at risk. Should fraud occur, you will not see your stolen funds again for weeks.
This is a long-standing practice at HSBC, according to one report. When Knowzy confronted HSBC, they wouldn’t commit to fixing the issue.
Kate Durham, HSBC’s VP of Public Affairs, listened carefully but didn’t address the issue directly for the record, saying only:
If a customer feels that their card information may have been compromised, they should immediately call the phone number on their monthly account statement or on the back of their credit or debit card and ask to speak with the Fraud Department.
That advice will be little comfort to a customer whose checking account was just cleaned out through no fault of his or her own.
There is a simple solution to stop this practice. Go to a different bank that is more concerned about the customers’ security than HSBC Bank seems to be.
What do you think? Should HSBC Bank be allowed to even send out pre-activated ATM/Debit cards?