Question

Do banks reimburse stolen money?

Answer 1

If your debit card was stolen and someone use the stolen debit card then you should notify the bank immediately.

The bank should always be notified immediately after you have your debit card stolen or lost and you should also notify the police about it.

The bank will be able to get your stolen money back if they're able to do a charge back on the merchant who the debit card was used with to purchase items.

If the money was taken through an ATM machine then you may be able to get the money back but there is no guarantee that you will.

However you will not be liable for any transactions that result from your stolen debit card if you notify the bank as soon as 1 or 2 days.

The longer you wait to notify the bank about the lost or stolen debit card then you'll become liable for the unauthorized charges.

If the bank is notified soon enough they can stop the use of your debit card which will cause it to decline and be reported as stolen.

Answer 2

Some banks may refund stolen money if they can do a charge back like the other poster said.

However banks are under no obligation to actually refund stolen money since they didn't steal the money.

The only other way to get stolen money back is to catch the person who stole the money and then get them to pay you back somehow.

But usually once your money has been stolen then you will likely never see that money ever again.

So protect your checking account, savings account etc with all your life.