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Bank Issues New Debit Card Numbers to All Members. Hacked?

Bank Issues New Debit Card Numbers to All Members. Hacked?

Last month, my bank sent a letter last month to all members notifying them they would be getting a new MasterCard debit card (with new number).  The new card arrives last week. They would like to shut off the old debit card soon.

 

Why would they do this?  The only explanation I could think of is that someone (hacker) may have obtained a list of some or all of the banks debit card information.

 

How much exposure do I have here?  Should I close out my account and bank elsewhere?

 

Thanks

Brad


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Message 1 of 4
3 REPLIES
Frequent Contributor

Re: Bank Issues New Debit Card Numbers to All Members. Hacked?

I would call the bank and ask them about exposure risks. This has never happened to me, but I live in SC and our DOR was hacked. The hackers gained personal info, banking info, basically all the stuff you would put in a tax return. Easy way to steal identities. All the residents of the state got out of it was a free year of credit monitoring and banks put out notices to close accounts and open new ones with new numbers if you ever put your account info on a tax return.

I believe that if your bank was just "changing systems" then they would convert all the debit numbers over to the new system, rather than incur the costs of generating new cards for all of thier members.

Message 2 of 4
Valued Contributor

Re: Bank Issues New Debit Card Numbers to All Members. Hacked?

This happened to me about 3 years ago. My employer's credit union sent a letter to all members saying they were closing our debit cards and issuing new ones. In the letter they assured us that the issue was contained, yada, yada.

I believe the reason had something to do with the wrong tape/disk being sent to a 3rd party....but it was not explained in the letter. Also, only the account numbers were on there and no other information (like the names on the account). I am not aware of anyone having issues other than being inconvenienced. Most of us found out about it when we tried to use the card and was declined (on payday!)

I suggest you contact your bank to get an explanation of what happened. It could be that only the card numbers were compromised and no other personal info....but the bank will have to provide that confirmation.

I would assume the bank would cover any fraudulent charges.
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Message 3 of 4
Established Contributor

Re: Bank Issues New Debit Card Numbers to All Members. Hacked?

My bank issued new cards and went from twelve digits to sixteen. Purely an accounting item, not anything else.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
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