Kaiku Bancorp prepaid card Debit card was stolen out of mail n kaiku allowed a stranger to activate my card and take money and charge me for it Internet

The Cardholder had contacted our Card Services team via phone on December 3^rd, 2014 to report that an ATM machine had kept her ATM Card and destroyed it. The Card services team member then advised her that a replacement Card will be issued. A replacement Card was ordered on December 4^th, 2014 and was shipped to the address on file.

On December 20^th, 2014, our records show that the Card was activated using our automated IVR system that requires the full Card number and last four of the Card social security number). The Card was successfully activated without any failed attempts.

On December 24^th, 2014, the Cardholder called our Card Services team to dispute all four (4) of the transactions that were made on the new Card on December 20^th, 2014 totaling $253.02 and advised that she had not received her Card. Three (3) of the merchant locations were identified in the Cardholders previous transaction history. On December 24^th, 2014, another replacement Card was ordered and shipped to the address on file.

Since the requested dispute forms were not received from the Cardholder within 10 business days of reporting the claim, provisional credit was not applied on the 10^th business day per Regulation E.

On January 22^nd, 2015, a permanent credit was applied for the $7.91 disputed transaction as it was below the threshold for the transaction type.

On January 22^nd, 2015, KAIKU received the requested dispute forms. On February 5^th, 2015, provisional credit was applied for the 3 remaining disputes totaling $245.11. On February 5^th, most of the funds were withdrawn via ATM.

On February 12^th, 2015, the dispute team concluded their investigation and denied the claims based on their investigation findings. The three provisional credits were then reversed and a letter regarding the dispute result was sent to the Cardholder.

On February 15^th, 2015, the Cardholder emailed corporate requesting to reopen her claim. KAIKU advised the Cardholder that in order to reopen the claim, the dispute department will require supporting documentation showing that the Cardholder has tried to dispute the transactions with the merchant directly, a police report for the day of the incident and merchant receipts if applicable.

KAIKU has since ordered a replacement Card for the Cardholder with expedited delivery. KAIKU will be glad to assist the Cardholder with re opening the dispute claims for a second review if the requested supporting documentation is provided.