Chase Solves Data Breach by Setting Grinch Limits on Debit Purchases

Illustration for article titled Chase Solves Data Breach by Setting Grinch Limits on Debit Purchases

There are a lot of different ways banks might deal with the recent Target database caper, but none of them are quite as Grinch-like as ravenous bank monster JPMorgan Chase's decision to cap debit card cash withdrawal limits at $100 a day and card purchases at $300 a day.

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According to CBS, the new limits affect about two million Chase customers, or, in pie-chart-friendly terms, about 10 percent of all Chase customers. Chase explained that the new limits are a security precaution aimed at preventing criminals from scooping money out of customer bank accounts, and acknowledged that the card caps may come at a pretty inconvenient time for a lot of shoppers, but that, you know, last-minute shoppers need to learn a lesson about procrastination, don't they?

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Representatives for other major banks also assured customers that they were taking additional security measures, but none had adopted Chase's broad, scorched-earth policy of limiting cardholders to smaller withdrawal and purchase amounts (the normal cash withdrawal and purchase limits for Chase's debit cardholders are $200 and $500, respectively).

Image via AP, Phil Coale

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DISCUSSION

I had to go to Target today and it was FUCKING PACKED so I don't think this breach is putting a huge damper on sales.

This fucked up world we live in. It's not a question of "will my card be stolen?" it's "WHEN will my card be stolen?". I still feel a little queasy thinking of all the times I went to Target during the hack but I'm keeping an eye on my statement, I changed my PIN number and Target says they're going to offer credit monitoring. I don't know what else to do. I'm still going to shop at Target. Does that make me crazy?