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    Thursday, August 11, 2016

    Tips To Protect Your Debit Card

    Recent enhancements have put the Automated Teller Machine and debit cards in nearly everyone’s wallet.
    Today, most debit cards have the Visa or MasterCard logo and can be used at millions of locations with a signature or personal identification number.
    A purchase at many stores may be like a trip to the bank or the ATM, with PIN pads allowing consumers to receive cash back from their purchases.  In short, the ease of debit cards makes them extremely popular.

    To avoid becoming a victim of debit card fraud, peoplesbanktrust.com offers the following tips:
    -Check your bank statements immediately. Make sure all payments are yours.
    -Periodically, check your account balance and transactions, by utilising online banking, by telephone, or by printing interim statements at the ATM.
    -Contact your bank immediately if your card is lost, stolen or subject to fraudulent use.
    -Keep a record of card numbers, PINs, expiration dates and numbers for banks so you can contact the issuing bank easily in case of theft.
    -Memorise your PIN. Do not use your date of birth, address, telephone number or social security number. Never store your PIN with your card, and do not make it available to others.
    -Keep your receipts. You will need them to check your statement. If they have your account number on them, tear up or shred receipts before throwing them away.
    -Mark through any blank spaces on debit slips, including the tip line at restaurants, so the total amount cannot be changed.
    -Know your limits. Many issuers limit daily purchases and withdrawals for your protection.
    -Do not use an ATM if it looks suspicious, it could be a skimming device.
    -Be wary of those trying to help you, especially when an ATM “eats” your card, they may be trying to steal your card number and PIN.
    -Do not give your PIN to anyone over the telephone, often thieves steal the cards and then call the victim for their PIN, sometimes claiming to be a law enforcement agent or the issuing bank.

    Using online banking
    Online banking, also known as Internet banking, e-banking or virtual banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of transactions through the financial institution’s website.
    The online banking system will typically connect to or be part of the core banking system operated by a bank and is in contrast to branch banking, which was the traditional way customers accessed banking services, according to a report by en.wikipedia.org .

    To access a financial institution’s online banking facility, a teacher with Internet access will need to register with the institution for the service, and set up a password and other credentials for customer verification.

    The credentials for online banking are normally not the same as for telephone or mobile banking. Financial institutions now routinely allocate customers numbers, whether or not customers have indicated an intention to access their online banking facility.
    Customer numbers are normally not the same as account numbers. Technically, the customer number can be linked to any account with the financial institution that the customer controls, though the financial institution may limit the range of accounts that may be accessed to, say, cheque, savings, loan, credit card and similar accounts.

    The customer visits the financial institution’s secure website, and enters the online banking facility using the customer number and credentials previously set up.
    The types of financial transactions, which a customer may transact through online banking are determined by the financial institution, but usually include obtaining account balances, a list of the recent transactions, electronic bill payments and funds transfers between a customer’s and another’s accounts.

    Most banks also enable a customer to download copies of bank statements, which can be printed at the customer’s premises (some banks charge a fee for mailing hard copies of bank statements).
    Some banks enable customers to download transactions directly into the customer’s accounting software. The facility may also enable the customer to order a chequebook, statements, report loss of credit cards, stop payment on a cheque, advise change of address and other routine actions.

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