JPMorgan Chase & Co on Saturday notified customers who used debit cards at Target Corp stores during the recent security breach that it limiting use of the cards to cash withdrawals of $100 a day and purchases totaling $300 a day.
The new limit effects roughly 2 million accounts, or fewer than 10 percent of Chase debit card accounts, according to a bank spokeswoman. It does not apply to credit cards.
The bank spelled out the limits in an email to customers with the subject line: "Unfortunately, your debit card is at risk by the breach at Target stores.''
The bank said it was taking at the action as a precaution and recognized that the move "could not have happened at a more inconvenient time.''
On Sunday, Chase said more than a third of its branches would be open across the country, prioritizing those near big shopping complexes and those that are able to instantly issue new debit cards.
Separately, a source familiar with the situation told CNBC that Citibank was also imposing limits on debit cards for affected customers if it sees suspicious activity, though the extent of those limits was not immediately clear.