Chase Raises Limits on Debit Cards Used at Target Stores
On Saturday, JP Morgan Chase became the first major bank to place limitations on their customers’ debit cards that were possibly affected by the Target security breach.
Chase placed a daily limit of $300 in purchases and $100 in cash withdrawals on the nearly two million debit cardholders. This is estimated to be about ten percent of Chase debit card customers.
Today, Chase raised those limits to $1,000 in transactions and $250 in cash withdrawals, according to a statement by the bank.
The bank is not placing any limits on their credit cardholders at this time. These limits are in place until cardholders can receive a new debit card.
Chase kept about one-third of its branches open on Sunday to help answer customer questions.
In other news concerning the breach, Target is trying to restore consumer confidence by offering a 10% discount throughout the store to patrons completing their last-minute holiday shopping.
The nationwide retail company has also begun offering free credit monitoring for consumers who may have been affected by the credit card breach.