How to Prevent Debit Card Fraud

How to Prevent Debit Card Fraud

Written by Nathan Woolard

            Just as your credit cards are susceptible to potential fraud, so too are your debit cards and their associated accounts.  A would-be thief who gets their hands on your debit card number or bank PIN can use that information to take cash straight from your bank account or to make pricey purchases.  Unfortunately, some methods of debit card fraud are impossible to defend against.  No amount of diligence on your part can dissuade an unethical waiter from jotting down your card number or prevent a hacker from gaining access to your info through a data breach.  However, there are still several measures within your control that can help protect your accounts:

• Check your account online daily.  Keep regular tabs on your balance and recent transactions.  The sooner you spot unusual activity, the easier it will be to limit the damage.
• Get banking alerts.  By signing up for these alerts, your bank will contact you via text or email when your account is accessed for certain notable activities.
• Go paperless.  Sign up for e-statements for your Success Bank accounts.  Then you won’t have to worry about your information being swiped from your mailbox.  Additionally, putting any bank statements and debit card receipts you already have through a paper shredder before disposing of them greatly reduces the chances of someone being able to dig useful information out of your garbage.
• Don’t keep all your money in one account.  In the event that your checking account becomes compromised, it’s important to have access to cash from another source.  Dealing with the stress of fraud is bad enough without also having to worry about lacking the money for daily necessities and other financial obligations.
• Use a secure network.  If you’re performing any financial transactions online, make sure that you are using a trustworthy connection.  Don’t submit such transactions while connected to a public or unsecure network.
• Beware of phishing and vishing scams.  Any text from Success Bank will come from the number 37268 and will never contain a link for you to click on; a valid notification will provide info about suspicious activity and ask you to reply with answers such as Yes, No, Help, or Stop.  Do not reply to any message from a different number and do not click on any included links.  If you receive a call which claims to be from Success Bank and asks you to verify a transaction, you should not be required to provide any information beyond your zip code and a yes-or-no confirmation for the transaction in question.  Success Bank will never ask for your PIN number or for the three-digit CV2 code on the back of your card.  If you are unsure that a text or email is legitimate, do not reply; if you are unsure that a call is legitimate, hang up!  Then call Success Bank directly at 641-664-BANK.

Hopefully, these strategies will aid you in keeping your accounts safe and secure.  But if you do find yourself a victim of fraud, then don’t hesitate to take quick action.  By immediately contacting your bank, you can impede any damage caused by the theft and limit your own financial responsibility for the incident.  And remember, your best defense against fraud is vigilance!