Deutsche Bank online banking allows authorizing bank card use in foreign countries. The feature is only available on the German version of their website. I can also set daily / weekly limits for my bank card. For online transactions, I think 2 factor authorization is used. (e.g. enter a TAN)
For my bank account in US, I am not aware of any option for authorizing foreign transactions online (only calling the bank), nor setting usage limits. I can set alerts to be notified for transactions, but only $100+ transactions.
The one time I did get "hacked", it was with another card where I got notified immediately by email each time it was used. So found out quickly when thousands of dollars were being spent on iTunes! I think those were in a rapid series of smaller transactions (can't remember, less than $100 or more, but maybe less). The notifications allowed me to promptly get my card cancelled to at least limit the damage and then was able to get my money back. Lesson is for stuff like iTunes (well, I don't like to use them anymore), but generally to buy gift cards, when possible, for online shopping/services and put the credit onto my account. For more popular places like Amazon or iTunes, gift cards can be bought in many brick and mortar places with cash. Then I don't have to give them my credit card or bank info.
The issue with transaction limits (while they're good in general) is exactly what you've mentioned, lots of small transactions quickly after each other do not get blocked.
Actually this is now one of the most popular card frauds in Poland right now: majority of newly issues cards are paypass/paywave-enabled and moreover, offline (not checking the balance while paying, and usually there's also no limit imposed on number of consecutive operations without PIN - though technically it would be trivial to implement).
I.e. you can even make someone a negative balance on his account with a series of rapid small (<12€) touch transactions, and many people are not aware of this, while banks keep telling people that everything's super secured.
well, I can set a limit of say 500 euros (or whatever I need) per day. So even with a lot of smaller transactions, there is a point where they would stop.
Damage can still be done, though and I'm not aware if/how I can get alerts for transactions. So I need to remember to check my account often.
For my bank account in US, I am not aware of any option for authorizing foreign transactions online (only calling the bank), nor setting usage limits. I can set alerts to be notified for transactions, but only $100+ transactions.
The one time I did get "hacked", it was with another card where I got notified immediately by email each time it was used. So found out quickly when thousands of dollars were being spent on iTunes! I think those were in a rapid series of smaller transactions (can't remember, less than $100 or more, but maybe less). The notifications allowed me to promptly get my card cancelled to at least limit the damage and then was able to get my money back. Lesson is for stuff like iTunes (well, I don't like to use them anymore), but generally to buy gift cards, when possible, for online shopping/services and put the credit onto my account. For more popular places like Amazon or iTunes, gift cards can be bought in many brick and mortar places with cash. Then I don't have to give them my credit card or bank info.