Tips for Debit Card Security
Debit cards are a convenient way to make purchases and manage your finances, but there are steps you should take to protect yourself, just as you would when carrying cash. Debit card use is a safe banking process and debit card fraud affects only a small percentage of accounts. But, with the growing popularity of usage, there has been a corresponding growth in the number of threats to debit card security. To help fend off possible debit card scams, try following these tips when using your debit card:
- Always check your bank statement in a timely fashion. Be certain all transactions are yours. This can easily be accomplished by using Online Banking which gives you the flexibility of 24/7 access.
- Contact Liberty Bank (or your bank) immediately if your card is lost, stolen or misplaced, which can lead to fraudulent use. Liberty Bank can quickly replace a lost or stolen card.
- Memorize your Personal Identification Number (PIN). Never store a PIN with your card.
- Keep a record of ALL card numbers, their expiration dates, and 800-numbers for each card. Keep the list in a safe place so you can easily contact the issuer if your card(s) are lost, misplaced or stolen.
- Do not use an ATM or gas pump reader if they look suspicious or if they have been tampered with.
- Be wary of individuals trying to 'help' you, particularly if an ATM withholds your card. This person could be trying to steal your card and/or PIN.
- NEVER give your PIN over the phone; this could be a thief with your card posing as law enforcement or bank official.
- Use your hand or body to shield your PIN when you are conducting transactions at an ATM or at a point-of-sale terminal.
- Never let your debit card out of your sight when conducting a transaction at a point-of-sale terminal. Always remember to take your debit card and transaction record with you once your transaction is complete.
- When selecting your PIN, never use obvious information - such as, your telephone number, date of birth, address or social security number.
One particular debit card threat is called "skimming". Skimming is when a thief sets up an electronic device that captures information from the magnetic strip and keypad when the card is used. This occurs most frequently at an ATM or gas pump. The thieves then use the information to produce fake debit cards using the stolen information.
It is important to know that if you are the unfortunate victim of skimming or other debit card fraud, Liberty Bank will protect you. The Electronic Funds Transfer Act (EFTA) protects consumers from debit card fraud and the corresponding losses, provided you report the fraud in a timely fashion.
If you notice anything suspicious regarding your debit card or your bank account, report it immediately to a staff member at Liberty Bank. Our staff will help you determine the cause of the problem and whether there may be fraud involved, and how to resolve the situation.
Source - Debit Card Safety Tips Brochure
