Yes, a bank may be able to reverse fraudulent debit card charges. You can request a chargeback, for example, when a transaction goes awry. If your card was lost or stolen and there has been suspicious activity, let your financial institution know ASAP. If you alert them within two business days after discovering the fraudulent charges, you generally won’t be held accountable for more than $50. If it’s been more than two days but less than 60 days, you can be liable for $500. If you wait more than 60 days, you could endure unlimited losses.