[lionelione43]

To be fair though, at least they offer the guarantee that if your online banking is hacked they will reimburse 100%. Though not sure how truthful it is having never needed it.

https://i.imgur.com/O2eOwLw.jpg

Edit:

"You may be liable for all losses from unauthorized use of your Account if you:

contributed to its unauthorized use; used a PIN combination selected from your name, telephone number, date of birth, address, or Social Insurance Number; did not use reasonable care to safeguard your Secret ID Code; did not keep your Secret ID Code separate from your Card; did not comply with your reporting obligations in Section 11 of this Agreement unless there were exceptional circumstances for your failure to do so; or shared a mobile device that you registered with us for Electronic Banking Services. In those cases, your liability may exceed the funds in an Account, your credit limit or any daily transaction limits. In other words, your liability will not be limited by your Account balance, your credit limit or any daily transaction limits. You must cooperate and assist in any investigation that we initiate into the unauthorized use you reported, which is a precondition to being reimbursed for any losses. This cooperation may include filing a report with law enforcement authorities."

Overall seems fair enough protection.

[AgentME]

I think I'd rather risk some money to hacks on an otherwise more secure system than look forward to whatever hellish phone support calls and hoop-jumping I expect I'd have to go through to get charges reversed.

[bowmessage]

Ok this sounds like a terrible question but how do they stop people from "hacking" themselves...

[RainaRelanah]

How do insurance companies stop people from emptying their house and then burning it down? How do brick and mortars prevent people from paying with photocopied money? It is fraud, and it is generally illegal. Huge amounts of money is spent on detecting and deferring fraud attempts.

It's entirely possible to claim your card was skimmed and have your bank refund the money. However, if they then find out that the ATM used to withdraw your entire balance is the same ATM you've used for years, and your face is on the ATMs security camera at the time of withdraw, then you're in for a world of hurt.

[lionelione43]

You basically need to file a police report about the theft, and the bank will probably know where the money was sent/spent, and the police ideally would investigate and subpoena the records of wherever the money went and presumably discover if it goes back to you somehow. The first liability thing says you cannot have "contributed to its unauthorized use". I mean realistically someone could possibly do it and get away with it, but I mean people could realistically do many types of fraud. Most could realistically probably get away with it. It's more a guarantee to people that if they get hacked somehow other then giving naughty little Johnny/vindictive ex Jane the bank card and pin, they can get their money back.

[astura]

Insurance fraud is illegal; you can go to jail for it.