Chase reacts to Target data breach and limits debit card use

  • It all began when Target announced that there was a massive credit and debit card breach and about 40M of its customers were affected.

    JPMorgan Chase has now limited its debit-card customers to withdrawing $100 and spending a total of $300 daily at Target. The limit applies to about 10 percent of the customers of the bank. Chase mentioned that those who need over $100 in cash can pick up a temporary card from a branch. 

    "We realize this could not have happened at a more inconvenient time with the holiday season upon us," the bank said in a statement. "It's unfortunate that criminals are active during a time of giving and generosity."

    Chase didn't specify when the restrictions would be removed and said everyone whose card was hacked will be shipped a new one in the coming weeks. 

    Tagged as: chase, target breach, chase limit debit cards, target holiday season, money news, business news