Let’s be honest, gone are the days of counting pennies at check-out or sending checks in the mail. Today purchases are as easy as a quick swipe of the card. However, with that convenience comes the risk of losing hard-earned money. We’re here to share 6 tips for avoiding debit card fraud:
Digital Wallet
The first tip we can offer is to utilize a digital wallet. A digital or mobile wallet is a payment app available on all smartphones. This handy payment solution is offered in various forms by technology leaders like Apple, Google, and Samsung. Your mobile wallet offers plenty of advantages over physical cards. Sure, it means less stuff to jam in your wallet, but you'll enjoy plenty of other benefits, too, like convenience and security.
Smartphones have rather extensive security measures that allow only the owner to access the information stored within. Your purse or wallet, if misplaced, offers the finder your debit and credit cards on a silver platter. Plus, mobile wallet transactions involve the exchange of unique transaction identifiers or tokens, not card numbers, which can help enhance the security of your data.
Limit checking account
Do a lot of online shopping? Utilize multiple accounts and only keep what you need in your regular checking account. This way, if your card is compromised, the fraudster won’t be able to get to your life savings. Sad day for them, but great news for you!
Have a designated card for AutoPay
AutoPay is arguably one of the greatest tactics created by vendors to keep the money coming in. You don’t have to think about it and they get their money. While AutoPay is great for a busy life, too many cards and things might get lost. Designate one card for AutoPay and a separate one for every day spending. By having a separate card, you’re reducing the risk of compromised information through restricted use and limiting your need to update all of your AutoPay accounts if you require a new card. Makes sense, right?
Shop with trusted retailers
We’ve all been there, cruising social media when THOSE shoes appear. $50 is a steal! You quickly hit the link and before you know what’s happened you’ve entered your debit card information and hit purchase! The key to keeping your information safe it to watch out for scam sites and stick with named retailers you know and trust. A quick internet search can tell you all you need to know about a seller and prevent your card information being stolen.
Keep your eyes on the card
Have you ever stopped the wonder what happens to your debit card when it leaves your site? While most of the time it’s safe, it takes one moment for a server to take your card and copy the info before returning it to your table. Instead of using a debit card to pay for dinner, if you can’t keep a close eye on it, use a credit card with enhanced protection. 4Front….
And while we’re at it keep an eye out for skimmers which can also steal your card info. Any time you use a card, make sure nothing looks fishy with the card reader, when in doubt, don’t risk it!
Don’t give out information
Every now and then you’ll get a call saying your card has been compromised and could you please provide the card number to prove your identity or that the card is in your possession. No financial institution, 4Front included, will ever call and ask for your card info. It’s a scam. Simply said, don’t ever give out your card information.
It seems that everywhere you go these days your need to be on the lookout for fraudsters trying to get to your money, but utilize the tactics and you’ll be one step closer to keeping your accounts safe.