Are Navy Federal Accounts Protected From Fraud?

If you’re facing fraud and Navy Federal won’t listen, we want to hear about it…

Identity theft and fraudulent activity with your bank accounts or credit cards can result in significant financial losses. What’s more, it’s complicated to know who to contact or what steps to take next, especially when there are hidden fees on your bank statement. Navy Federal offers a wide range of consumer financial accounts, vehicle loans, and more for military members. But what do you do if you were the victim of fraud and Navy Federal doesn’t help? We explain. 

Are Checking Accounts Protected from Fraud?

Yes, checking accounts have federal protection against fraud thanks to Federal Reserve Regulation E. Credit cards also have federal protection through § 1026.12 Special credit card provisions, which state you are only responsible for up to $50 for fraud.

Does Navy Federal America reimburse stolen money?

Yes, Navy Federal has a zero liability policy which means if you are a victim of fraud, you get your money back usually on the same day. The company investigates the fraud claim on your behalf, during which you get provisional credit. The zero liability policy only applies to transactions that Navy Federal confirms through their investigation to be fraudulent and only to those cases that are reported as soon as possible. You have to report things like fraudulent debit card transactions within 60 days of them appearing on your statement.

Note: Navy Federal does not apply the zero liability policy to peer-to-peer payments like Venmo or Zelle or payments like gift cards. So, if you authorize a payment for a good or service using Venmo or Zelle and don’t get the concert tickets you paid for, this isn’t covered under the zero liability policy. 

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Contact Navy Federal for Fraud

If you see fraudulent activity on your account, checking or savings, or credit card, you need to contact Navy Federal immediately. 

Debit Cards, Credit Cards, and Checking Accounts

  • If you see a transaction posted on your account that you didn’t authorize, you have to report fraud. Sign in to your account and follow the fraud reporting steps. 
  • If you see an inaccurate transaction on your debit card log in and follow the steps or call 1-888-842-6328.
  • If your card is lost or stolen or you find yourself a victim of identity theft, you have to call the service line at Navy Federal immediately to put a hold on your account. The number is 1-888-842-6328.

This fraud reporting line is available 24/7

Other ways to report fraud…

You can use the Credit Card Affidavit of Fraud and Forgery and fax the form to 703-206-2055 or mail the completed form to:

Navy Federal Credit Union

Attn: Card Fraud Prevention Recovery

PO Box 3503

Merrifield, VA 22119-3503

Prepaid Cards

If you have a prepaid card with Navy Federal, you can report unauthorized transactions on your GO Prepaid card or call 1-855-477-1138.

The federal government recommends that anyone who is the victim of a fraudulent Navy Federal account opened in their name not only contact Navy Federal but report any fraud to the Federal Trade Commission.

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Do Banks like Navy Federal Really Investigate Fraud?

Banks like Navy Federal really do investigate fraud. It’s in their best interest to do so because it can cost them a great deal of money if they don’t. There are many situations where you file a report with Navy Federal, and you don’t hear anything back from them aside from the provisional credit added to your account. Even if you don’t have a lot of communication, that doesn’t mean an investigation isn’t happening within the fraud department. It’s pretty common for investigations to be opened and closed relatively quickly, especially when there is sufficient evidence that suspicious or fraudulent activity occurred. You may or may not hear any information from your bank until the case is closed.

What Can a Scammer Do with My Account or Credit Card Number?

If a scammer gets a hold of your bank account number or your credit card number through a financial service or online transaction, they can cause problems for you and your bank. Scammers can:

  • Move your money out of the account and keep it
  • Buy things with your credit card
  • Use your credit card to send a Western Union cash advance
  • Order checks under your name and cash them
  • Withdrawal money from an ATM
  • Open other financial accounts under your name or other lines of credit 
  • Transfer money to and from your account for money laundering 

Related: How to Spot and Report Illegal and Unfair Banking

What to Do If Navy Federal Won’t Help

Still not having any luck with Navy Federal? If you aren’t getting a response or the response you get isn’t satisfactory, you have other legal options like filing a complaint against Navy Federal or an official dispute with consumer arbitration. 

Share your complaint about Navy Federal with FairShake today. 

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