CULVER CITY (CBSLA.com) — Chase Bank is keeping a close eye on customers’ ATM activity following the credit and debit card security breach at Target stores.
After monitoring fraud activity all weekend, Chase says that it’s raising ATM withdrawal limits for customers to $250 and $1,000 at the point of sale.
Customers still cannot get cash from ATMs outside of the United States.
John M. Simpson, the director of Consumer Watchdog’s Privacy Project, says it’s wrong for banks to transfer some of the liability to customers.
“They’re holding your money hostage,” he said.
Moses Gonzalez, who was shopping with his girlfriend at a Culver City Target Monday night, was not happy to hear about Chase’s decision.
“$250…that’s really not a lot,” he said.
Gonzalez also added that he was in the dark about the situation at Target.
“I’ve been shopping since Black Friday here. No emails, no notification,” he said.
In addition, Gonzalez didn’t realize how vulnerable the United States is to this type of fraud versus other countries.
Simpson told KCAL9’s Melanie Woodrow that other countries use digital chips that are more difficult to copy.
“The magnetic strip is essentially the same thing as magnetic tape, which I think we all don’t use anymore,” he said.