Home Business Target data breach: Chase limits debit card use for customers at risk

Target data breach: Chase limits debit card use for customers at risk


JPMorgan Chase customers will be limited to $100 in cash withdrawals and $300 in total purchases per day if they used Chase debit cards at Target during a recent security breach, the bank has announced.

Kristin Lemkau, a Chase spokeswoman, told NBC News the limit applies to about 2 million customer accounts, representing less than 10% of bank’s customers. The limit does not apply to Chase credit cards.

Earlier this week, as many as 40 million debit and credit cards were compromised during a Target data breach, which the store said began just before Thanksgiving and ended December 15.


As many as 40 million debit and credit cards were compromised during a Target data breach photo

As many as 40 million debit and credit cards were compromised during a Target data breach

The security breach exposed customer names, card numbers, expiration dates and the short security codes known as CVVs. The industry blog Krebs on Security, which first reported the breach, has reported that card accounts are already being sold on the black market.

Target, eager to repair the public-relations damage and restore customer trust, has apologized and offered a 10% discount at its stores this week.

Chase did not immediately give a time limit for the restrictions. The normal daily limit for transactions on Chase debit cards is $500, and the normal daily limit for cash withdrawals is generally $200 to $500, Kristin Lemkau said.

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Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.