Are PNC Bank accounts protected from fraud?

More and more people are becoming the victim of fraud especially given how prevalent online transactions are and how often data is stolen through cyber-attacks.  You might have problems with identity theft or a stolen debit card, unauthorized transactions, or worse. If you have seen a fraudulent PNC Bank account opened in your name and tried to report it, but the bank won’t do anything, there are still other options.

Tired of talking in circles with customer service? File an official claim instead:

Are checking accounts protected from fraud?

Your checking accounts are protected from fraud thanks to Federal Reserve Regulation E. It’s up to you to provide transaction details like the amount, where it went, the date of the transaction, and a few other details in order for the banks to issue a refund.

Does PNC reimburse stolen money?

PNC Bank offers 24-hour fraud monitoring as well as zero liability fraud protection. It is up to you to report to the bank that fraud took place or that a debit card was lost or stolen and if you do so immediately, they can stop any subsequent fraud and they will reimburse stolen money.

You need to contact them immediately however. They are available by phone at 1-888-762-2265.

Lost funds to scammers? Get PNC Bank to act:

Do banks really investigate fraud?

Yes, they will investigate your fraud charges. It is company policy to do so and the individuals responsible for investigating will initiate an investigation as soon as you contact them for any unauthorized charges or charges for things that you didn’t accept. They have 10 days to come to a conclusion and temporarily return the money but if it’s a really complicated issue, they might take up to 45 business days to come to a final decision.

However, even though they say they investigate fraud, that doesn’t mean that your case will end the way you think. One customer explained their problem with reporting fraud as follows:

“PNC Bank sent me fraudulent checks the week of March 7, 2021. When received I immediately contacted the bank the same week to see what was going on. The rep explained that she did not see the checks being cleared because it has been a while and that my 15yr old son would not be charge or lose his account because of this, he would have a slap on the risk as someone reached out to him to deposit the checks that were fraudulent and she advised that I go into the branch on Monday morning. On 3/15/2021, I visited the local PNC Branch in Suwanee, GA off of Moore Rd. I informed them of the situation and spoke with the rep on the phone. I was serviced by TIA on this day. She advised that my son’s account was being closed and it had a DUR or DRU on it. I didn’t know what that meant but she kept using that jargon. I explained that I understood what my son did was not right, I wish someone would have contacted me via phone or sent a letter in the mail before the checks. She noted that she didn’t see any documentation either but my son’s accounts would be closed. Yesterday, March 18, 2021 I attempted to swipe my card several times and was denied. I went to the ATM to retrieve money and was denied. PNC had cut off all of my accounts including my 17yr olds account. My 17yr and I have jobs and have direct deposits coming into these accounts as well as I have bills that are paid out of this account. PNC did not notify me that my personal checking accounts were being closed because of the returned checks on my sons account. I explained this situation to 3 different people including the Operations Dept. with PNC. When I finally spoke with the Operations Dept. his statement was while laughing, “I am sorry to be the one to tell you this but based on the contract you signed PNC is not obligated to tell you the reason for closing your accounts and at this time we will be discontinuing our relationship with you as a customer”.”  

Related: How to Spot and Report Illegal and Unfair Banking

What can a scammer do with my bank account number?

A scammer can do a lot of damage, especially if you aren’t paying attention:

• A scammer can effectively take all your money in a variety of ways like ordering checks with your bank account number and paying for things. They could spend an entire weekend at the mall writing checks for furniture or electronics which wouldn’t get processed until the following Monday morning and by that time all your money is gone.
• They can also simply transfer money out of your account the same way you would send money to a friend from your bank to theirs.

What to Do If PNC Bank Won’t Act

If you have been the victim of fraud and you were very timely in reporting it, but you still aren’t getting anywhere, contact our FairShake team today. We can help you with consumer arbitration to try and get the compensation you deserve.