There is no doubt that banks will be working hard to protect customers from fraud during the Christmas shopping and holiday period by monitoring accounts for suspicious activity, however, it’s also important that customers take some simple precautions as well.
Here are some simple security tips to remember and practice during this busy season!
1. DO guard your PIN and Internet banking passwords
Don’t tell anyone your PIN or confidential Internet banking passwords or logon. Don’t keep a record of the PIN or Internet banking passwords anywhere near your credit or debit card. Be aware that there is no reason to provide your PIN or passwords to anyone under any circumstances, including a telephone call purportedly from your bank. Only use the PIN for electronic transactions, don’t use it for other purposes, for example your video store password, which you repeat aloud to the salesperson.
2. DO always check your statements
Always check your card statements promptly and reconcile them to your purchase slips. It is important that you immediately advise your bank or card issuer of any unauthorised activity.
3. DO provide your bank with telephone contacts and travel plans
It’s important for a bank to have up-to-date phone numbers on their systems in case they need to contact you to discuss fraudulent activity on your account. Inform the bank of changes to your mobile, work or home phone number. Provide the bank with details of your trip plans before you go overseas as well as a contact phone number where bank staff can reach you overseas.
4. DO keep a record of your credit and debit card information in a safe place
If your card is lost or stolen, the faster you are able to provide your bank with details of the card the better. Banks provide emergency phone numbers to call to report the loss – keep these numbers handy.
5. DO make sure your card is returned by the salesperson
Make it a priority to get your card back after completing a purchase. Sometimes cards are intentionally retained by salespeople in order to later commit fraud.
6. DO secure your card
Make sure you know where your card is located at all times. Make sure it is secure to minimize the risk of theft. If you are expecting a card to be delivered in the mail, ensure your mailbox can be locked and that you check it regularly for the card’s arrival. If your card does not arrive within a reasonable time of you ordering the card or being advised by your bank that a card is being sent to you, advise your bank.
7. DO review your card limit
You may wish to lower your credit card limit which would prevent a criminal spending more than the determined amount if the card was ever lost or stolen. You need to balance this decision with ensuring your card limit is appropriate to your spending needs.
8. DO be alert for suspicious activity around ATMs
When entering your PIN at the ATM machine, look around to see that no-one is watching. ‘Shoulder surfing’ usually happens at ATMs or public phones. Criminals may watch you from a nearby location, or behind you in a queue, as you key in your PIN. They may also listen in on your conversation if you give your credit card number over the phone, for example, when making a hotel reservation or booking a rental car.
Be aware if there is a group of individuals around the ATM acting suspiciously. If you see a device that doesn't look part of the normal ATM operation do not remove it. Keep reasonable distance and telephone police. If you are suspicious for any reason, contact your bank or the police and await further instruction. Do not put yourself at risk!
We hope all of you stay and spend safe this holiday season! Keep up-to-date on what’s happening in today’s fascinating world of financials by following our blog! Should you require more information on buying or renting a cash ATM for your business or special event, contact us
today at Debit Express!