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How does bank get paid for fraud claims?

If there was a fraud where someone used your personal info to open a paypal account and used your own bank account and took your money (by transferring it from bank to paypal, then pocketing the money), and you told both paypal and bank about the fraud, and your bank took charge and put the claim and gave you the money back. Who pays the bank for that money? Does the bank make paypal give them the money? Or do banks get so much money per year (or whatever) for fraud claims?

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2 Responses to “How does bank get paid for fraud claims?”

  1. charles w said :

    First, Paypal is not a bank and they are not bound by any banking laws. Your bank will likely get the money back from Paypal.

    Make sure that you file a police report. The fact that someone was able to get your banking information is a problem and you want to make sure that there is a paper trail (police report) for the next time.

    I would suggest that you close the account and open one at another bank.

  2. Leigha Mudgett said :

    WOW they are such beautiful photos Anel


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