While security is a top priority year-round, take this opportunity to review these safety tips to be safe this summer. One of the most important factors in combating financial fraud and theft is awareness. The recession has prompted consumers to use their debit cards more than other forms of payment, but with the increased use comes an increased risk of fraud, according to Jim Cichy, PULSE* vice president of fraud management. "To keep money safe and secure, consumers need to better understand how to work with their financial institution to combat security compromises and fraudulent use of financial information," he said.
Using your ATM or debit card is a simple, hassle-free way to get cash, make deposits, check account balances, transfer funds, make purchases and more. To enjoy the many conveniences debit cards offer, make protecting your card a priority. Here are some important safety tips.
Treat your card like cash
Always store your card in a safe place.
Use your Debit Card as a Credit Card
Your Campus Federal Campus Choice Debit Card includes the MasterCard logo, which enables purchases to run as a credit card purchase at most locations. Once you swipe your card, select the Credit key or the cancel key depending on location. Please make sure to tell the merchant to run your card as a credit card. This can be a safer option when using your debit card since you are not typing a PIN for any wondering eyes to see.
Keep your PIN to yourself... shhh it's a secret
No company or individual needs to know your PIN; not even your financial institution. Memorize your PIN, and never write it on your card or store it with your card. Never let a cashier, teller or other stranger enter your PIN for you.
Always be aware of your surroundings
When using an outdoor ATM such as in a parking lot, look for suspicious activity before you begin your transaction.
Shop carefully online
If you initiate an online transaction and must provide personal data, look for indicators that the site is secure, like "https" in the Web address or the closed padlock icon in the bottom frame of your browser. It is also wise to conduct financial transactions on wired Internet connections only. Wireless connections can be more vulnerable to attack.
Protect your card's magnetic stripe
Exposing your card's magnetic stripe to other magnetic objects can cause damage that will make your card unusable.
Report a lost or stolen card at once
Call Campus Federal right away if your card is lost or stolen to reduce the chance that it will be used improperly. Immediate notice of lost or stolen cards also will limit your potential liability for unauthorized transactions.
Review account statements regularly
Verify all transactions matching receipts to account statements. Frequently reviewing activity online helps identify unauthorized activity between monthly statements. Sign up for eNotes and you will receive email, text, or secure message notifications for routine account activity, as well as for unusual transactions.
Never respond to an unsolicited request
The Internet is a common channel for fraud perpetration. Never provide your debit card number, PIN or any other non-public information to anyone in response to an unsolicited email, pop-up message or phone request. As a reminder, we will NEVER ask for your PIN.