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Protect your PIN!

January 22 2018 - by Amanda (Perkins) Huinink 

As a group, Canadians are using their debit cards millions of times day.  Either by chip or tap, it’s one of the most convenient ways to spend while staying in the black each month. Not only is it easy to use the card, but with service charge free ATMs located across the country and interac services available around the world, you have access to your funds 24/7. While debit card fraud may be on the decline, it is still important to keep your personal information safe and prevent any type of debit card fraud on your account.

 

We are here to provide you with a few tips to help keep your money safe from debit card fraud.

-         Only allow your card to be swiped in front of you. Never let someone take your card to swipe out of your sight.

-         Use your hand or body to protect your PIN while entering it during use. This prevents people from being able to watch you type your PIN.

-         Notify your financial institution right away if your debit card has been lost or stolen.

-         Never disclose your PIN to anyone! Not even family or a spouse. If you have given your PIN out to anyone else, you may not be covered for any losses if your card becomes compromised.

-         Check your statements regularly for any suspicious activity or unfamiliar transactions.  Notify your financial institution right away if you see something that doesn’t look right.  We encourage online banking, so you can review your account more regularly instead of only once a month or every 4 months depending on your mailed statement dates.

Do not make your PIN very obvious. Try using something that would be harder for someone to guess.  For example, do not use 1234.

 

Have any extra tips? We'd love to hear more from you!  Contact us at betterbanking@membersavings.ca