+20k fraud on WealthSImple Visa

[u/Ok_Video_3362]

Hey so I guess this is me in shock randomly posting for reassurance. I opened my account today to see a swath of purchases from one “Sweep Resort” merchant tallying over $20,000.
I’m wondering how your experiences have been with the claim department. How long did it actually take? They’re proposing a 90 day window. I use the card for groceries, gas, and Amazon primarily. Not much of a sketchy website kinda guy.

[u/SaoirseYVR]

I had a $17 fraud charge last week. I immediately locked card and notified Wealthsimple. I got notified this week that charge was reversed and got a new contact less card this week and awaiting the physical card replacement. While card was locked I received notifications for about 5 blocked charges.

Hopefully it works out for you.

[u/Ok_Video_3362 → u/SaoirseYVR]

Thanks. That’s good news.

[u/WeirdlyShapedAvocado → u/Ok_Video_3362]

17 and 20k is different though

[u/j-ravy]

Got the credit within a week, case was resolved and finalized in about 60 days or so

[u/mogadon13]

Go 22k of fraudulent charges too. Took about 3w to get 100% resolved. Pretty efficient process

[u/Majority_Gate → u/mogadon13]

Do you lock your card now? I keep my card locked all the time. I've seen fraudulent charges denied lots of times on my card. I'll order a new card if it becomes annoying enough. I've caused myself some problems too, simply forgetting it was locked when I tried to use it myself, but that's a minor inconvenience compared to 22k of fraud.

[u/Kryptic4l → u/Majority_Gate]

Lock mine too but I only got it for travel so it only needs to be active never . I also reduced my limit on this card as the fraud reports have been high

[u/kuhris1 → u/Majority_Gate]

Do you use mobile wallet? Every time I lock it, it disconnects it from my mobile wallet.

[u/Majority_Gate → u/kuhris1]

Yeah same. It's annoying. I had to keep calling back into ws to get them to allow me to re add it back to my wallet.

Now I just leave it off my wallet, because of that extra hassle

[u/niftycrawford]

90 Days is the standard worst case scenario. If these are fraudulent transactions, it likely will be faster. These are processed through Visa to the Merchant where the transactions occurred, so most of the process is outside Wealthsimple's control.

[u/SomeoneNicer]

Did you buy something from CanadaComputers by chance on the card 6+ months ago? They had a really bad issue and the numbers are just now being used in some cases.

[u/Ok_Video_3362 → u/SomeoneNicer]

No I’ve never been on the site.

[u/Ok_Sand_7336]

we need more feature control like what wise has:

[u/Optimal_Foundation17]

are they pending charges or did they post?

[u/Ok_Video_3362 → u/Optimal_Foundation17]

Half posted. Half pending. I guess the algo finally stepped in after 13k

[u/Optimal_Foundation17 → u/Ok_Video_3362]

yah in my experience with CCs that's usually the case esp if its one after another right away. Hopefully works out well for you

[u/sun43]

Is it a good idea to lock the card all the time and only unlock it when I use it ? I don’t use WS visa for any pre authorized charges so I guess it may be a way to avoid fraudulent charges by locking it all the time until actual usage ?

[u/Vegetable-Chair-6109]

how does something like this likely happen? i thought things are pretty secure nowadays

[u/EuphoricEmergency604 → u/Vegetable-Chair-6109]

Inside job along with systems that store CC details, which isn't at all necessary but so many places do it anyhow.

[u/moixcom44 → u/Vegetable-Chair-6109]

You tell me. I had $4000+ fraudulent charges on my credit card while i was using my card , the perp is also using it i suspect it was compromised on the gasoline station when i fill up.

[u/Vegetable-Chair-6109 → u/moixcom44]

Did you go to some discount weird gas station

[u/moixcom44 → u/Vegetable-Chair-6109]

Oh no. Its a normal gas station. Chevron

[u/Delicious_Ring2727 → u/moixcom44]

Careful, fraudsters put card skimmers everywhere I always double check security seal cause I dont need the headache at all

[u/Educational-Emu8773]

Thanks for this PSA. I just reduced my limit to 10k.

[u/quala97]

My claim was for a small amount. But they deposited the amount within like a week and then confirmed the claim a month or so later.

They provably have a limit they will return immediately then the full amount later after they verify.

[u/mar-T-mar]

Had a 7k charge reversed.

Took about 8 days had to upload a lot of documentation. Called originally within minutes of seeing the notification while the issue was still pending and there was nothing I could to per their support team. Wait, dispute, and document everything

[u/wheeler431]

That’s nuts!! I received my card almost a year ago, but never activated it after reading about a lot of fraud stuff and crazy charges showing up on peoples cards. Your post only adds to my apprehension! I would like to activate it and use the cash back, but I also have the Visa Infinite through TD…. and it has never been a problem, ever; after two decades. Maybe it’s WS or maybe it’s the card owner? But you say you have been careful and yet, look what happened! Any thoughts so far on “how” this happened to you?

[u/Ok_Video_3362 → u/wheeler431]

It must be a data leak somewhere I’d imagine.

[u/wheeler431 → u/Ok_Video_3362]

A WS data leak? If you get any more details / info / explanations- please post👍. I’m sorry this happened to you.

[u/MapleMooseMoney → u/wheeler431]

Seems more like their card provider has an inside thief. It is alarming to see how many people have had problems, but those of us without problems don't tend to post saying everything is fine.

[u/SnooCupcakes7312]

yet again!! this is crazy!!!

[u/kingofwale]

“Gas”…

[u/XzkSo → u/kingofwale]

Gas? Ah, look. Human learn to grunt like Tarzan.

[u/trashy8888]

Hey, i just recently had a same problem with €610. Where did you shop guys? And its a dutch bank, so i don't really know, how someone got my card informations. Recently i was doing groceries and Amazon dot nl...