Bank warning...

[Doc Harry]

FYI
After fraud disasters with credit cards in Cozumel, we switched to all cash vacations in Cozumel. Everything is strictly cash. So far we've made about a dozen trips to Cozumel.

We ran a little short of cash, and I didn't trust the ATM machines, so I went into a bank to get cash. It was one-and-only time that I used my credit card on that vacation. When we returned home, there were dozens of fraudulent charges on that credit card. All of the charges were with Mexican businesses.

You can't trust the Mexican police. And you can't trust the Mexican banks, either.

 

[DandyDon]

I didn't trust the ATM machines

I've had problems after using my credit card in Mexico too, but then it's generally cheaper as well as safer to pay cash, in Pesos. Why fear ATMs tho? As long as you use a bank ATM, check the machine for skimmers, and use other usual cautions. Of course, you need to notify your bank that you're going to use your card in Mexico first.

Fraud originating with a bank teller is a first for me tho. Thanks for reporting.

I've never used a credit card to obtain cash, just my debit card. Isn't that expesive?

 

[cvchief]

Not to say it couldn't happen tomorrow, but we use the credit card for everything possible. Need those Southwest points!! We did get a call one time from Chase that the card had been compromised, but we had been in Coz for a day or so. Chase turned off all the internet sales and everything outside of Mexico so we could keep getting the points while were there. No new fraud charges appeared. Issued a new card and cleared all the bad charges. Not a big deal and sadly very common everywhere. Since we use it for everything, who knows where it was compromised.

 

[ReefHound]

We ran a little short of cash, and I didn't trust the ATM machines, so I went into a bank to get cash. It was one-and-only time that I used my credit card on that vacation. When we returned home, there were dozens of fraudulent charges on that credit card. All of the charges were with Mexican businesses.

Seems the problem is you trusted a person over a machine. Not sure how long ago this was, but all my accounts are set up with transaction alerts that text me. Even when I use a card internationally, I get a text within a second or two of the card being swiped. Surely you notified the card and didn't have to pay those charges. For every story of card loss there is one for cash loss, difference being that if your cash goes missing, nobody is going to replace it for you.

 

[mediumone]

"dozens of fraudulent charges"???
Hmmm.
Compared to some, we're absolute newbies, having only spent around 125 days in QRoo, but never a hint of a problem. However the last two times my card has been compromised was from an Amazon purchase and from a local burger joint.
As ReefHound points out, in both cases, the charges were immediately reversed, and Chase overnighted me a replacement card.

 

[jpm4osu]

Credit card and debit card fraud happens everywhere. I have been going to Cozumel for over 25 years and to date, fortunately I have not been compromised. I have been compromised twice in the US. On the other hand my daughter has been compromised once (debit card) at an OXXO and she has lived on the island for over 4 years. I do somewhat agree with the cash thought. When we are in Cozumel we will go to a bank ATM and withdraw pesos with our debit card. We only go to a bank ATM. My bank of choice these days is Cibanco. The ATM is in both English and Spanish. Most US banks allow a $500.00 daily withdrawal. We will do 8,000, roughly $400.00 depending on the exchange rate. Plenty to last several days. On a large purchase we will use a credit card. I generally only use at Mega, Sams Club and Coppel.

A person needs to be diligent about going online and reviewing both the bank accounts and the credit card accounts. I try to do so daily, but it is not always possible.

We carry a regular debit card and we also have a savings debit card. This is in the event one card is compromised and we still have access to money.

 

[ReefHound]

A person needs to be diligent about going online and reviewing both the bank accounts and the credit card accounts. I try to do so daily, but it is not always possible.

I find that completely unnecessary. Do your banks and credit cards not offer transaction alerts?

 

[jpm4osu]

I am taking liberty and making an assumption with the original post, but the text said, after we retuned the fraud transactions were discovered. Leads me to believe he did not receive transaction alerts.

I will admit I do not receive transaction alerts for each and every transactions. My bank is not a large national bank. They do have alerts if a transaction looks out of the normal. When I am in Mexico, I inform the bank of my travel plans and they would not see this as an out of normal transaction. My credit cards are your typical large national companies. I contact them as to my travel plans and therefore they would not see the transaction as being out of the norm.

We each have our level of comfort and for me I like to check on the accounts.

 

[flyboy08]

My banks no longer requires or wants me to notify them when I'm out of the country...never did anyways... I prefer it that way.

What I find idiotic is you use your CC to buy a ticket to say Mexico and three month later you go on this planed trip and when u go to use that same CC, its blocked...lol...

 

[DandyDon]

What I find idiotic is you use your CC to buy a ticket to say Mexico and three month later you go on this planed trip and when u go to use that same CC, its blocked.

You think the bank should keep up with your travel plans that much? How would they know who the passenger(s) were for the tickets? I guess you could notify your bank of your travel plans at the time of the ticket purchase.