Citibank Limits ATM Withdrawals in New York
Published January 3rd, 2008 in Credit News.
Amid a rush of fraud, Citibank has limited the maximum amount of cash consumers can withdraw from ATMs in New York City.
In mid-December, the bank began limiting cash withdrawals from city ATMs because of so-called “isolated fraudulent activity,” and said it was working with law enforcement agencies to resolve the issue.
Apparently hackers have infiltrated ATMs in the city, compromising accounts and presumably pulling money from customer’s bank accounts.
Citibank said the issue was not a national problem and would not specify the amount of the new withdrawal limit, though one New Yorker said her max withdrawal limit was cut in half.
Customers who need more cash when making ATM withdrawals can call customer service and get instant access to more funds, Citibank said.
Additionally, the bank said customers will not be held responsible for fraudulent activity in their accounts.
The move by Citi has garnered mixed reaction, with some applauding the move to increase the safety of customer’s accounts, and others expressing disapproval in the way their money is being held.
With the way things have been going, maybe they need those deposits…
