Credit Card Fraud in Shanghai

This morning I received an email from Westpac in Australia who issued my credit card asking me to contact them asap regarding a recent activity.

I assumed that they must be suspicious about the big purchase we did yesterday evening. However when I called them I was told that my credit card number was stolen during the transaction yesterday evening - someone tried to use it!

That was scary but how lucky I am that Westpac found that fraud straight away and suspended my credit card. From last night till now, it wasn't 12 hours yet but the Westpac  already tried my mobile and sent an email to contact me after they blocked the card. How efficient!

The service staff told me that they will send me a totally new card with different numbers on it in 10 days (because the Easter Holiday starts today until next Monday). She apologised a few times about the inconvenience that I can't use the credit card for the next 10 days.

I am so grateful that the bank system is so smart now and can pick up fraud attempt so quickly. I am also grateful that Westpac is really customer's service oriented - protecting its customers and fixing the problems efficiently.

I can't help but compare the banking services in China with that in Australia.  Every time I do a money transfer here, I go to a bank physically queueing up for my turn because I do not dare to use the Internet banking service (even thought I paid for that service initially). I was told by a friend who used to work in a bank that Internet banking is not safe at all in China - your bank details and pins can easily be stolen by Hikers and the worse thing is: banks are not responsible for any fraud. I can't imagine what would happen if the credit card I used yesterday was one issued by a Chinese bank...

I've had a positive experience with the Chinese banks in the beginning of this year though. One day I went to an ATM trying to withdraw RMB5000. Since the maximum for each withdrawal is RMB2500 for that machine, I had to do it a second time - it was when the problem happened: the money was deducted from the card, but didn't come out from the machine. I didn't even get a receipt for that transaction,  which means I don't have an proof for that my money was stolen by the ATM.

Back then it was during Spring Festival holiday and the bank I was using ATM at was not open. So I called a number written next to the ATM for any problem and they told me since the bank card I used wasn't issued by their bank, I need to call my bank to check the balance. So I called and they found that the transaction did happen in their system, but they couldn't fix it straight away. They  promised to check through their Interlink system and return the money to my card after the holiday.

Anyway I wrote down the service person's work number and went home with a heavy heart because I really was not sure how long it would take them to fix the problem. However to my surprise the first working day after the holiday I recieved a phone call from my bank and said they found the money and will return it to my card within 3 days. I checked it 3 days later - it was there sound and safe now.

So although the Chinese banking system still has a long way to go to match the more advanced systems of the West, I am confident from my ATM experience that the culture of customer service is starting to move into the local banking systems. Someday soon I am sure I will feel confident enough to use internet banking in China.

Comments

[Hats]

Hey Mate,

You sound like a sales rep from Westpac... Any commissions yet.

You should set up an agency for expats

cheers Hats

[Sabrina]

Hi Hats,

This article was written by me, not Brad.

Cheers,
Sabrina

[L. Way]

I've used atm's in shanghai probably 50 times over the years, only once had a problem where the money didn't come out. Luckily the bank was open so they fixed it for me on the spot. Another time I got an extra 100 rmb from a citibank atm. what a feeling to turn the tables and rip off the bank :)