Is it legal for a bank to hold my debit card and then destroy it?

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Is it legal for a bank to hold my debit card and then destroy it?

I bank at another bank but used this bank’s ATM because I was on lunch break and it was close to my job. I withdrew $20 and then the ATM sucked my card in. I went inside to resolve the issue but the said they could not return the card and It had to be destroyed as stated in their policy. Not having my debit card for 10 days really puts me at a disadvantage. I called the police but they were no help. They said it being bank policy they had the right? I’m sure there is no law that gives them permission.

Asked on May 9, 2012 under General Practice, Missouri

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Most banks specifically have imprinted on their issued ATM cards as well as stated bank policy that they reserve the right to destroy a debit card if it believes that the bank account to which the card is issued to has been compromised. Such is standard operating procedure in the banking industry and under uniform banking law. This seems to be what happened in your situation.

What I do not understand was why you were not able to get a new card activated the day your old card was "sucked in" by the ATM machine. Most banks are able to issue new cards right away.

 


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