Avoid Debit Card Fraud With These Tips
For every $100 spent in the U.S., six cents is lost to fraud, according to David Robertson of the Nilson Report. To address the growing concern about debit card fraud, the American Bankers Association and the Electronics Fund Transfer Association offers the following tips:
- Closely monitor your bank statements, as well as your balance, and immediately report problems to your bank.
- Contact your bank immediately if your card is lost, stolen or subject to fraudulent use.
- Keep a record of card numbers, PINs, expiration dates and 1-800 numbers for banks so you can contact the issuing bank easily in cases of theft.
- Memorize your PIN number. Do not use your birth date, address, phone number or Social Security number. Never store your PIN with your card, and do not make it available to others.
- Do not allow people to look over your shoulder as you enter your PIN code.
- Keep receipts. You'll need them to check your statement. If they have your account number on them, tear up or shred receipts before throwing them away.
- Mark through any blank spaces on debit slips, including the tip line at restaurants, so the total amount cannot be changed.
- Be wary of those trying to help you, especially when an ATM "eats" your card. They may be trying to steal your card number and PIN. Do not re-enter your PIN. Contact a bank official immediately.
- Do not give your PIN to anyone over the phone. Often thieves steal cards and call the victim for their PIN, sometimes claiming to be law enforcement or the issuing bank.
Source: Delaware Online
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