Hacker News Reader

Comment by jwilk | Hacker News Reader

> (to avoid the bank calling and asking “are you sure you want to speculate with cryptocurrency today”)

Huh? Do banks actually do that?

I've done development on these types of systems. I can't go into too much detail for obvious reasons, but your answer is yes. When the details of a transaction seem to be unusual or have an association with high risk or fraud, you'll get an email, sometimes a call, sometimes they'll immediately freeze your account.

It's a security measure to protect both the bank and the customer.

I've noticed my two banks vary wildly in how they respond to this (I'm non-US). Once I was notified that they were replacing my card due to suspected fraud only after I called them to ask why my card was being declined everywhere. The other bank disabled my card when placing an order on Doordash while in LA and I got an SMS, a notification from Apple Pay and a phone call almost immediately.

I gather some banks have fraud detection systems that will flag suspicious transactions, triggering a phone call to the customer.

While I haven't experienced that personally, a friend reported getting such a call from his bank after he ordered $400 of fireworks online.

Unfortunately it's all pretty opaque and bank dependent - as far as I know, there's no way a merchant can trigger such a call, for example.

This happened to me in the 90's so not sure how possible it is today. Someone got hold of my account number - I think it was in Las Vegas when I used an ATM and didn't get the receipt, then when I realized it a couple of minutes later, walked up to get it and didn't find it. A month later at home in Austin, my ATM card was declined at the bank ATM and I was baffled because I knew I had enough money for the transaction. When I went into the branch for an explanation they told me that I had no money in my account because earlier that day someone of a different gender and race ( they had video) had used 12 different bank branches in a different city (Houston) to withdraw 2000 at a time via check. I had to a sign something that swore that I did not do that and the act was not connected to me before they would restore the stolen funds to my checking account.

I get it often with HSBC, it's really frustrating as their fraud systems seem to have only one profile of user, so if you don't fit then you'll get lots of calls from the bank. I even get them when purchasing from sites that I use regularly/semi-regularly.

I had something similar. It's not normal for me to make large purchases via my CC, but I decided to purchase a $600 television from a retail store once.

The payment was declined until I called the bank and told them I was standing in line trying to actually pay for it.

The thing is, I don't think she was able to open it for just that transaction, but instead flagged my account so that ALL large payments like that were allowed.

Which to me just seems like an outlandish shortcoming.

It reminds me of the time that some random ACH got placed on my account. They claimed they couldn't even tell me the name of the person or company who did it, etc. And this despite me having specifically requested that any ACH's placed on my account are approved personally by me.

It's actually kind of scary just how inept these banks are sometimes with respect to these issues.

I've gotten a text from my bank after my first Bitcoin purchase on a newly issued debit card, with it saying that the transaction was flagged as suspicious and I needed to verify that I was actually the one who purchased it.

Not in those words obviously, but yes I have had numerous calls from credit card issuers during or after a large transaction. ATM cards or bank credit cards are usually tied to a bigger card issuer. These issuers have a lot of fraud prevention systems in place.

Not a phone call, but a couple of years ago I woke up to a text and a push notification from my bank (correctly) informing me that someone had used my account to pay for a hotel room and some other stuff and that they froze my account. I'm not sure if the person making fraudulent charges ever got caught, but they refunded me the money and issued me a new card, so it ended up only costing me the hour or so I had to spend at the bank that morning sorting everything out.

My bank only yesterday froze my card because it is being used in a different country and they suspect fraud.

One time I flew to Texas and bought a camera. It wouldn't go through, I got a text alert from my bank, and I had to make the poor saleslady wait while I called the bank and walked their phone rep saying that yes, this is me, the owner of thr account and I want this camera.

I had it when I paid by supplier in China 8 k. Visa called my bank, my bank called me

My bank (well a credit union) called and asked if I really wanted to buy 4 tires. Since I was having a bit of an issue paying it without the money in my checking account, I said yes. It surprised the heck out of me too.

Reply on news.ycombinator.com