I’m curious if you guys have experienced something like this before. A few months ago, someone in Mexico suddenly charged my debit card. I’ve never been to Mexico and I don’t know anyone in Mexico. Then my bank froze my debit card and bank account because they had to investigate the fraudulent transaction. They told me to visit the bank branch in person with an ID document to reactivate my account and card. I had to visit a bank branch to resolve this issue. The fraudulent charge of $50 was returned to my account two weeks later. But I realized I have no control over fraudulent charges like this. Someone can try to figure out your card number and charge it.
If something like this happens to you while you’re traveling, what would you guys do? you’ll be require to fly back to the country of your bank to reactivate your bank account and card. That’ll cost so much money and time.
Also, when I was in US few years ago, Bank of America randomly froze my debit card several times. They said it was to prevent fraudulent transactions… they mailed me a new debit card to my home address but it took several days to receive it. I couldn’t use my card and had no access to ATM machines until I receive the new debit card.
Can accidents like this happen to your offshore bank accounts in Singapore, Hong Kong, Georgia, and Panama?
and if it happens to your offshore bank account, what would you guys do? if you have many offshore bank accounts and debit, credit cards, it’s going to be hard to maintain them.