U.S. Bank Creates Problem for Consumers with New Debit Cards
U.S. Bank has started sending out new debit cards to its customers as a result of recent data breaches at major retailers. They are certainly not the only bank to do this in order to combat possible fraudulent purchases. But there is a problem with these cards, according to Consumerist.com.
Cardholders have just two days to activate their new cards before the old ones are terminated. This could cause major issues for patrons who are away on vacation, have problems receiving their mail, or who simply take a few days to open their mail. Those who rely on their card for all of their money and transactions may soon have no way to access their funds.
U.S. Bank defended their short time frame, saying, “We balance the time we give customers to activate new cards with the need to close old cards quickly; the longer the compromised card is open, the greater risk of fraud, so sometimes the period between receiving a new card and activation is short.”
If you are a U.S. Bank customer, keep an eye on your mail in the coming weeks. It could contain an important card that will render your current card useless shortly after receipt.