Sunday, December 22, 2013

JPMorganChase Places Caps on Debit Cards Affected by Target Breach

J.P. Morgan Chase on Saturday put in place daily limits on use for debit-card holders who shopped at Target Corp. stores during a 20-day security breach, reports WSJ.

In a letter to debit card holders posted on its website, Chase said such limitations on spending would be temporary while it reissues cards. For the affected cardholders, the bank is limiting daily cash withdrawals to $100 and putting on a $300 daily purchasing cap. The spending restrictions do not impact credit-card users, the bank said.

UPDATE:

Chase plans to open a third of its branches Sunday to help affected customers.

1 comment:

  1. A federal judge has struck down a rule setting a cap on the fees that banks can charge merchants for handling debit card purchases. In a letter to bankkonto eröffnen or debit card holders posted on its website, Chase said such limitations on spending would be temporary while it reissues cards. thanks

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