verified by visa bank of america simplifies how individuals share and prove their identity online.'s next generation platform facilitates identity proofing, authentication. KBZ Bank Cards - [CUP]) is a leading payment card brand similar to other International card brands such as Visa, MasterCard and American Express. Oct 30, 2020 · Card-not-present fraud is a type of credit card scam in when she went online to check her Bank of America EDD card balance. carding-team. verified by visa bank of america

United Bank

United Bank's business day for same day posting will be 8 p.m., effective December 1, 2021.

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For over 100 years, growth has been one of United Bank’s hallmarks. We couldn’t have done it without great people, and we’ll need more to continue the tradition into the future.

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How you can protect yourself

This information might look different depending on the browser you’re using. When a third party has verified the site you're trying to access, you'll see a message on the site letting you know you're on a verified website.

Think you’ve shared your personal information?

Sign in to and check your account information. If you notice suspicious activity in your accounts, let us know right away using one of numbers on How to Report Fraud. If you think you've mistakenly given out personal information (such as your account number, password or PIN) in an email, text or website that might be fraudulent, call us verified by visa bank of america away. We’ll help secure your account.

And, if you’ve shared your username or password with a person or a service you don’t feel secure about, change them anytime in “Profile & settings.”

You can also forward a suspicious email message to us at [email protected] We'll send you an automated response to let you know we got the message.

Protect yourself

You can protect yourself and your accounts by recognizing and preparing for online banking threats. Here are a few ways to keep yourself and your information safe:

Be careful about giving out your username and passwords.

Giving anyone access to your accounts can put your financial information and your money at risk. This includes financial websites and apps that offer tools to help you manage your accounts, invest or prepare your taxes.

We work with some companies that allow you to enter your username and password directly into a secure window from their website or app. Once you’ve linked to these companies, you can see them under Linked Apps and Websites on, and remove access if you change your mind.

We continue to work with additional companies to provide that secure access. If you have given your Chase password to a company, but don’t see it under Linked Apps and Websites, you should:

  • Know and trust the company that’s asking for your credentials
  • Learn about their security practices
  • Know what they plan to do with your information
  • Change your password if you want to remove their access.

Be creative with your password

It's important to use a highly secure password for all your financial accounts. The most secure passwords combine letters, numbers and special characters. Never use your pet's name, your child's name or anything else that a fraudster could easily find out, like your address, phone number or birth date. For added security, remember to change your password regularly, and avoid using the same password for multiple sites or financial institutions.

We also recommend using an email provider that asks you to verify your identity in multiple steps.

For more information, sign in and go to the “Passwords & Other Sensitive Information” section of the Digital Services Agreement. To change your username or password anytime, sign in and go to “Profile & settings” on

Be careful on social media

It’s better to be cautious about the information you share on social media. Don't use information from your social media account for your password.

Take control

We make our products and services secure, but there are things you can do to keep your accounts safe, too:

  • Don't give your account numbers or any personal or financial information on the phone unless you initiate the conversation and you know the person or organization.
  • Don't give personal information to any stranger, even someone claiming to be from Chase.
  • Don't print your driver's hotels near wilderness at the smokies, phone or Social Security number on your checks.
  • Report lost or stolen checks immediately, and we’ll stop payment on the check numbers you report. When you get new checks, look through them to make sure none of them were stolen in the mail.
  • Store your new and canceled checks in a safe place.
  • Tell us right away if you get any suspicious phone inquiries asking for your personal or account information, or if you see anything suspicious in your account activity or on your statement.
  • To help keep thieves from stealing your identity, destroy or store financial information securely (including bank statements, invoices, ATM and credit card receipts).
  • Guard your PINs and passwords (hint: Don’t store them on your phone or write them on your card).
  • Create secure PINs and passwords. Don't use birth dates, your Social Security or driver's license numbers, your address or any family names. Someone trying to steal your identity may have this information.
  • If you use or one of our apps in public or on a public or shared computer, make sure you sign out when you’re done, and delete all cookies.
  • Be careful when you use your device in public areas. Watch out for anyone looking to see what you’re doing.

Don't be fooled

Phishing is when an imposter tries to trick you into providing your personal information. They might impersonate us in an email, phone call or text, 38.1 c to f you to confirm your information or saying you’ve won something—and it might look legitimate. A few examples:

  • You get an email that appears to be from a reputable company you know or do business with, like us. The email asks you to reply or go to a website that looks like, where you’ll be asked to give your username, password, account number, personal identification number (PIN), Social Security number or other personal information.
  • You get a voice mail or text message telling you your bank account will be closed, frozen or terminated unless you call or go to a website, where you’ll be asked to give personal information.

Scams often try to create a feeling of urgency or alarm, by threatening to close off an account, or offering a security update—as soon as you provide your personal information. A few more common culprits are emails, phone calls or text messages that:

  • Require you to give personal or account information directly verified by visa bank of america the email or on a website; some fraudsters use pop-up windows to ask for confidential information.
  • Threaten to close or suspend your account if you don’t take immediate action.
  • Invite you to answer a survey that asks for personal or account information.
  • Say your account has been hacked, then asks for personal or account information.
  • Tell you there are unauthorized charges on your account, then asks for personal or account information.
  • Ask you to confirm, verify or update your account or billing information.
  • Ask you to provide account information because someone wants to send you money.
  • Claim you’re getting a refund.
  • Say you’ve won a contest.

If you think you've received a suspicious email but you haven't acted on it, please forward it to [email protected]

Learn how to spot suspicious emails

Think before you open

Don't open an email attachment, even if it appears to be from a friend or co-worker, unless you're expecting it or you’re absolutely sure you know what it contains.

Watch out for email subject lines or emails with a generic message like "check this out" or "thought you'd be interested in this." Make sure you know who sent the email before you open an attachment or click any links.

Set up free Account Alerts

We're always looking for ways to help you keep your accounts safe. Free Account Alerts are a great way to keep track of your finances to detect withdrawals you didn’t authorize or other suspicious account activity. You can sign up to get all types of alerts by text, phone or email. Set up Account Alerts

Get paperless statements

Paperless statements are an easy way to stay clutter-free and avoid verified by visa bank of america statements in the mail. If you go paperless, you’ll get an email alerting you that a new statement is available on You can see these statements anytime, from virtually anywhere. Go paperless now

Look over your credit reports

At least once a year, read through your credit reports carefully. You can request a free annual credit report from each of the 3 national credit reporting agencies, even if you don’t suspect any unauthorized activity on your account.

For your free annual report, go to or call 1-877-FACTACT (1-877-322-8228). Or, request the reports directly from each agency:

  • Equifax: 1-800-525-6285
  • Experian: 1-888-397-3742
  • TransUnion: 1-800-680-7289

Look out for credit inquiries from unfamiliar companies, accounts you never opened and unexplained debts. This can be a warning sign of fraud or identity theft.

Protect your equipment

Install anti-virus and firewall software on your computer and keep it up to date.

Be cautious about offers for free anti-virus software; make sure you get your software from a reputable company. Look for anti-virus software that scans incoming communications and files for viruses, removes or quarantines viruses and updates automatically.

A firewall is software or hardware designed to block unauthorized access to your computer. It's especially important to run a firewall if you have a cable modem or DSL line or other broadband connection, because they’re targeted often. Many current operating systems come with a built-in firewall, which you have to turn on.

Safeguard your business

If you own a business, it's important to:

  • Maintain appropriate internal controls, including separation of duties. For example, be sure that the people who reconcile accounts are different than the people who make payments.
  • Periodically assess your risk and evaluate your internal controls, including reviewing your users and the permissions you give them. Your system administrator can establish user permissions and online transaction limits for each of your users.
  • Regularly check your transactions and statements for any unauthorized activity. We post your transaction details on Chase Commercial Online so you can monitor and control them—including transactions that originate online and through other channels, such as checks you've written or withdrawals you've made.
  • Take advantage of our online Positive Pay and Reverse Positive Pay Services to help you monitor and control checks clearing against your accounts.
  • Customize your Account Alerts so you’ll get notified when certain account activity takes place.

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How common is 3-D Secure with US credit card users?

The US credit system has evolved to have a very healthy appetite for fraud in the name of transaction simplicity. By and large, end users have no fraud liability. Very large merchants may absorb some fraud liability in their negotiations to reduce fees. But overall the US system is concerned with increasing the rate of transactions and keeping them as frictionless as possible.

Other than end user complaints, the biggest pushback on the move to chip based transactions in the US is coming from Walmart. Walmart doesn't like that Visa and Mastercard require the POS systems to force a chip transaction if the card has a chip. Walmart already absorbs some of the fraud liability and these chip transactions are slower which ultimately costs money. While the estimated annual total credit card fraud number is very high it's only a few basis points compared to total transactions cleared annually. There's no reason to reinvent the wheel or add cumbersome layers of security for what would be a very marginal gain in my opinion.

I don't want to jump through hoops to save my bank money. They make money when I use the card, they should want me to use it. I don't carry the fraud risk, so I don't want to remember pins, or double authenticate transactions; unless maybe if the transaction was particularly large, say greater than $500. Life is far too short to stand in line at the grocery store waiting for the person in front of me to receive an SMS auth code to buy a pack of potato chips.

I've been confronted by Verified by Visa and Mastercard Secure. Honestly I'm not sure what caused them to pop up, but I was able to get through the additional steps of the transaction. If I had to do it every time I'd likely use a different card.

I'm from the US, and that's my take on 3D secure.


Cash a check on cash app

cash a check on cash app To set-up the direct deposit, you must find the account and routing numbers of your Cash App account. Jun 14, 2019 · Lodefast Check Cashing App. Of course, check your Transaction status. Amongst friends, it's a usual thing to owe each other some money now and again: someone May 20, 2021 · The average face value of a check presented to a check-cashing outlet is $442. 38. Complete Google sign-in (if you skipped step 2) to install Cash App. Open the "Cash" app on Android or iPhone The app is easy to use. At the bottom of the screen, tap cancel. It usually looks at the top of the application screen when you open it in your pocket. Take a clear picture of the front and back of the check. Aside from cold hard cash, the app supports cryptocurrency as well. Members. How Does a Cash App Borrow Loan Work? Cash App loans work similarly to using a payday loan service, but in a much more convenient form right through their app. The Lodefast app, provided by Lodestar financial services, works just like the Ingo app. GO: Get your money in minutes for a fee or in 10 days for no fee. The Ingo Money App may be used by identity-verified customers to cash checks issued on U. Choose to pay credit card bills, buy an Amazon. How it works: The Ingo Money App is a favorite choice for payroll check cashing. Similar to banks, Cash App will occasionally loan out money from users' accounts to various institutions. Using your Cash Card The Cash Card works just like any Visa debit card, you can pay at any point of sale that accepts Visa. Buying and selling of Bitcoin can be done within the app. Cash App also allows users to buy and sell bitcoin from their platform for a small service fee based on the current bitcoin market volatility. 3. There should be a check cashing store in most areas. Here are a few verified by visa bank of america on how to cash a check without going to the bank: Use mobile check deposit. ” The recording goes on to advise listeners on scams, saying, “Please be aware that Cash App employees are often impersonated by scammers circulating Mar 12, 2021 · Cash App is a peer-to-peer (P2P) payment service owned by Square Inc. Get your money in minutes in your bank, prepaid card and PayPal accounts. Posting Cashtag = Permanent Ban. 2. Aug 12, 2020 · Two Cash App Scams You Need To Avoid Today. Cash your check at a retailer, but beware of fees. Online Check Into Cash customers can log in and manage their account. In order to find out what they’ll charge to cash a specific check you’ll need to visit a store location. The only thing you need is to use your camera, then take an image of the check. Sep 04, 2018 · Cash App, on the other hand, doesn't have a social feed. ¹. As a reminder, there is no need to re-try any pending payments at this time. Cash App has over 30 million active users, 7 million of who even use their free debit card account. 8) apk. ly/3zAvmn4-----Subscribe for More Reviews Here:https:/ Jan 22, 2018 · Best Apps for Cashing Checks. 1 percent, according to the FDIC. Bank. If you want the money quickly, though, some cards charge a fee. For instance, you can use a mobile app in order to cash the check. Tap the deposit you'd like to cancel in the list of transactions; The check cashing store app is another mobile check cashing option. U. Go to a check-cashing store as a last resort. Jul 29, 2021 · The check cashing app Lodefast is a free mobile check cashing app that doesn’t use Ingo Money. Cash App is Level 1 compliant in the PCI Data Security Standard (PCI-DSS). May 31, 2021 · The check cashing store app. But, if you are in a hurry to Investigating - Some Cash App customers may be experiencing delayed payments. Traditionally, checks have been cashed at bank branches and ATMs or via mobile banking apps, but a new generation of check -cashing apps lets you load checks to an online account or a credit or debit card. (), a leader in the financial technology industry. 5k. Jun 14, 2019 · However, you don’t need to pass a credit check to get the Cash Card. The Check Cashing Store is available to Floridians only at the moment. All checks subject to review for approval. 25) but arrive to your debit card instantly. . Lodefast is available for both iOS and Android. Not having a valid form of identification should not stop you from cashing a check. 423. Check cashing is when a recipient converts a paper check to cash to use the funds. With the Ingo® Money App, cash paychecks, business checks, personal checks—almost any type of check—anytime, anywhere. Getting your card is simple, just follow the steps in the Cash app. That will be an easy step if you already ordered your Cash Card connected to your Cash App account. “What they’re doing is trying to generate brand awareness,” Hanna says. Businesses can also accept Cash App as a form of payment and charge a transaction cost of 2. Depositing a check is equally simple, you just grab an image with your phone. This is free service for all get paid by echeck pay by echeck The lodefast check cashing app allows you to cash checks and access your money anytime, anywhere, without waiting in lines or driving to a store or bank. With Cash App you'll be able to send money to your friends or receive cash on your Android. Oct 06, 2020 · To request contact through the Cash App: Tap the profile icon on your Cash App home screen. Actually, it is possible to perform this transaction even without an ID. Hit the home icon at the bottom left of your screen. If you don’t have a bank account, there are several mobile check cashing apps that can transfer a deposit into a PayPal account or load it onto a prepaid card. 30, with the average fee to cash that check being $13. Jun 27, 2020 · Check cashing fees: You may be able to cash a check for free with the issuing bank if you don’t have an account there, as banks often charge a fee depending on the check’s amount. Cash App, formerly known as Squarecash, is a peer-to-peer money transfer service hosted by Square, Hotels in munising mi. However, to do this you first have to link your bank or card to your Cash App account. Click on the Mobile Cash Access option on the ATM. With a Cash Verified by visa bank of america instant transfer, your money will be transferred instantly to your linked card. Check the hub issue: When it says that the Cash App isn’t working, for once you have to check your sum which you are going to move and afterwards investigate your financial balance. Endorse the check to a friend. May 28, 2021 · The Cash App verified by visa bank of america transfer fee is 1. 75%. 5%, with a minimum of $0. JD Edwards World recommends that you use only the Real Estate Management screens for the cash receipts and adjustments related to a tenant's account. financial institutions including Chase ®, Bank of America ®, Citi ®, Wells Fargo ®, American Express ®, U. Using cutting-edge encryption and fraud detection tech, the company does all it can to secure your information and money. Nonetheless, one can still receive money without linking their bank account. But if you’re wondering how Cash App works then you’ve come to the right place. Look for Cash App in the search bar at the top right corner. Post the receipts. This scam is called the Cash App Friday scam because scammers advertisements on Instagram, Facebook, and other social networks run on Friday. Enter in some basic information about yourself. Click to install Cash App from the search results. Jul 26, 2019 · Cash App, also called Square Cash, appeared in 2013 as a simple app for peer-to-peer payments and was expanded for business use in 2015. To make the feature even more appealing, Venmo is also waiving any fees for using the feature to cash the government-issued checks. S. Feb 17, 2018 · Top Check Cashing Apps for Android & iOS in 2018. They have their own fees for government checks. Mar 11, 2020 · Though Cash App’s revenue comes primarily from subscriptions and services, not peer-to-peer transactions, it still needs downloads. This is a complete guide on how to check your cash balance. Oct 21, 2019 · The Cash app by Square is one of the hottest properties in the App Store and Google Play. You pay between 3% and 5% to get instant access to a check’s funds. It’s putting us a step closer to a cashless world one transaction at a time. On the cash app website the finance platform detailed directions on how the one time 1 200 payment can be acquired more quickly and easily than many recipients have been reporting. Use your phone to scan the QR code on the ATM’s screen. Cash App is a P2P payment service founded by Jack Dorsey on October 15, 2013. You’ll find the banking tab on the leftmost corner at the bottom of the screen. Cash App is a popular platform that now has surpassed 25 million monthly active users. Sep 01, 2020 · How to Download and Play Cash App on PC. To do this, simply: 1. Download and install BlueStacks on your PC. It’s a mobile payment system developed by Square, Inc. Check Cashing Store. Step 2: Link Your Debit Account Option 1: Via Debit Card To check the status of your payment, please view your transaction activity. There’s only been a couple of times where the app wouldn’t accept the check – either it was too blurry, or it didn’t quite capture the numbers – and I had to have it cashed in person (so don’t throw away a check until the funds are available!) Jun 22, 2021 · Paypal has a cash a check service in the paypal app. Oct 10, 2019 · Verify the card balance application in your cash App. Feb 04, 2020 · Fees on check cashing services aren’t listed directly on their website. Don't waste time transferring money, just use this app! May 09, 2020 · Cashing your check with PayPal can be the easiest option as you can cash it from home. Deposit2Go – Deposit2Go is one of the best check cashing apps out there right now. More than 10,000 GCash outlets nationwide accept cash-in transactions, including remittance centers, pawnshops, malls, and bills payment centers. You can use Cash App to easily send and receive money and to buy and sell Bitcoin directly from your mobile device. Choose the account that you want to deposit the check into (checking or savings) type the exact amount written on the check. r/CashApp is for discussion regarding Cash App on iOS and Android devices. 262. Introducing Ingo® Money, the easy way to cash your check to your Green Dot account in minutes, right from your mobile device. Apr 18, 2017 · Buried in the settings section of the Square Cash app is the ability to set up automatic cash outs, so all of your peer-to-peer transactions will be deposited to your bank account, instead of remaining in the app. + Show All 5 Incidents. Clicking on that should present you with a series of options, from Add Cash to Link Bank Account. Aug 12, 2021 · I cash checks online via my credit union’s mobile app all the time. In addition, you can freeze your CashCard if stolen or lost. Jan 08, 2021 · How to cash your coronavirus stimulus check. Request your withdraw. There's no fee to withdraw your funds this way. Jul 25, 2021 · For check cashing apps, you can sign the back of the check and follow the app instructions to take pictures of your check.which allows users to make financial transfers from one mobile phone to another. Here are a few popular prepaid cards and their check-cashing terms: American Express Serve: Free mobile deposits with cash availability in 10 days; 1% or 5% fee with a $5 minimum for faster availability. Square released this feature back in early 2018 allowing you to set up direct. Most banks offer a mobile check cashing app for account holders. You can do it all on your phone or other mobile device using the PayPal app. You only need a smartphone with a functioning camera and the PayPal app (iOS or Android). At that point give a glance at your financial balance whether your cash is deduct or not. financial accounts to fund: (1) most debit, prepaid and credit card accounts issued by hundreds of U. 77, or about 3. "As millennials move from one life event to another — graduating college, getting their first jobs, we begin to see social dimensions critical in early stages become less important," Ravi Loganathan, Early Warning's head of digital strategy and operations, tells Money. 3) how to see pending deposits on chase. Mar 19, 2021 · What Is Cash App? Jack Dorsey, Founder of Cash App. Review and approve the receipts. Entering your pin at checkout allows you to choose the cash-back option at stores. Related questions Jun 22, 2021 verified by visa bank of america Paypal has a cash a check service in the paypal app. Deposit2Go allows you to deposit your checks right from your smartphone. How to withdraw money. If you don’t want to get the money in cash, you can also choose to have it added to your Walmart “MoneyCard”. Cash App is a new payment app that allows you to instantly deposit and withdraw funds from online casinos. Aug 24, 2018 · : Lodefast Check Cashing App is an independent financial group with its own check-cashing app that allows you to deposit your checks directly into your bank account. DOWNLOAD: Add the Ingo Money App to your smartphone. cash a check on cash app


Answers to frequently asked questions about debit cards.

What is a debit card?

A debit card looks like a verified by visa bank of america card but works like an electronic check. Why? Because the payment is deducted directly from a checking or savings account. If you use a debit card at a retail store, you or the cashier can run your card through a scanner that enables your financial institution to verify electronically that the funds are available and approve the transaction. Most debit cards also can be used to withdraw cash at ATMs (automated teller machines).

Why do people use debit cards?

For many people, it is more convenient to carry a small, plastic card instead of a bulky checkbook or a large amount of cash. Using a debit card is also easier and faster than writing a check. It's a good way to pay for purchases without having to pay interest, as you would if using a credit card with an outstanding balance. You can even use your debit card to get cash when you make purchases at a store.

What kinds of costs are associated with debit cards?

There may be fees for using your debit card. Examples: Some banks charge a fee if you enter a PIN (Personal Identification Number) to conduct a transaction instead of signing your name. You may trigger a fee if you overdraw your account using your debit card, just as you would if you "bounced" a check. Or, there could be a charge if you use your debit card as an ATM card at a machine that is not operated by your financial institution. As with other bank products, your financial institution must provide disclosures explaining the possible fees associated with a debit card. Be sure to read the disclosures to avoid an unexpected fee.

Some debit cards come with "rewards" or other incentives for using them. How can I know which one is a good deal?

As with similar financial products, rewards-linked debit cards are designed to encourage people to use a certain bank and its services. Before opening a new account or changing banks just to get a different perk, study the fine print. Start by reading the disclosures that explain the account terms and fees to understand the potential benefits as well as the costs.

How can I overdraw my account if my bank or bank network must approve a debit card transaction?

First, because the payments are electronic, they are deducted from accounts more quickly than when using a paper check. Often, a debit card purchase is posted within 24 hours instead of days, as may be the case with a paper check. That means there would be little time to make a deposit to cover a purchase, if necessary. In addition, even though a transaction was approved, you may overdraw your account because the bank won't know what other withdrawals you have made that day until it settles all transactions later that day.

Or, suppose you don't realize you have only $100 in your bank account and you want to use your debit card to buy a $200 item. Depending on the terms of your account or the rules of the card network, the bank might approve the $200 purchase as a convenience, but it also might assess an overdraft fee for that verified by visa bank of america and subsequent ones until you make a sufficient deposit.

If I use a debit card to make a purchase can the merchant put a temporary "block" or "hold" on other funds in my account?

Yes, in certain circumstances, merchants can take these steps as protection against fraud, errors or other losses. One common situation involves a hotel putting a hold on a certain amount when you use a debit card (or credit card) to reserve a room. Another example is when you use your debit card at the gas pump. Typically, the gas station will create two transactions — the first to get approval from your bank for an estimated purchase amount (let's say $50) when you swipe your card before pumping gas, the second for the actual charges when you're done. Until the first ($50) transaction is cancelled by the bank, usually within 48 hours, you wouldn't have access to that amount in your account.

Because a debit card transaction is processed so fast, is it possible to order a "stop payment" or obtain a refund if I later discover a problem with the merchandise?

It depends. Because funds are deducted from your account very quickly, don't expect to have the option to stop payment or obtain a refund. If the transaction cannot be cancelled, you may be able to work out other arrangements with the store. For example, if you return an item to a merchant and you're not able to get a refund, you instead may qualify for store credit or a gift card.

"If you're concerned that the merchant might not deliver what is promised, you might consider using a credit card instead of a debit card," says Janet Kincaid, FDIC Senior Consumer Affairs Officer. "That's because the consumer protections are stronger for credit cards when it comes to returning damaged merchandise." She noted, for example, that the Fair Credit Billing Act, which applies to credit cards but not debit cards, gives you the ability, under certain circumstances, to withhold payment on defective goods until the problem has been corrected.

Sometimes you're asked to enter a PIN to approve a debit card transaction, other times you can sign your name. Does it matter?

Yes, it could. Examples: If you use a PIN at a merchant's sales counter, you also may be able to get cash back, and that can save you a trip to the ATM. However, be aware that some financial institutions charge consumers a fee for a PIN-based transaction. There also may be differences minnesota vikings new stadium address how quickly the transaction is posted to your account, depending on how your bank processes PIN vs. signature debits.

Also, here's how to select each option. If you want to sign for a debit card transaction, you generally swipe your card through the reader and choose "credit" — even though you are authorizing a debit (withdrawal) from your account, not a credit card transaction. To use your PIN instead of signing, select "debit."

What more do I need to know to prevent debit card fraud?

Protect your debit card as well as the account number, expiration date, security code on the back, and the PIN. "Even if you never lose possession of your card, someone who learns your account number, security code and PIN may be able to use that information to access your account and create counterfeit cards," said Aurelia Cardamone, an FDIC Senior Technology Specialist.

While in many cases you are not responsible for unauthorized transactions (see federal protections described later), it can be a hassle resolving the situation. Here's how to avoid becoming a victim:

  • Never write your PIN on or near your card. Memorize it instead.
  • Don't give out bank account information over the phone or the Internet unless you have initiated the contact or you know the person is who he or she claims to be. For example, beware of deceptive calls or e-mails from crooks claiming to be from your bank asking you to "verify" (divulge) your account information. "Don't fall for it," said Cardamone. "A true representative of your bank will never need to ask for your PIN because your bank already has your account information.
  • Don't share your debit card PIN, security code and other account information with friends or relatives who aren't co-owners of your account. Likewise, never reveal this information to new "friends" you meet over the Internet. "Common scams start with a job offer or an Internet friendship or romance that leads to pleas for money transfers and secrecy," said David Nelson, an FDIC fraud specialist.
  • Take precautions at the checkout counter, ATM and gas pump. Always stand so that no one can see the keypad where you enter your PIN. At retail establishments, it's best to use do-it-yourself scanners. If you give your card to a clerk, be on guard against a dishonest employee who runs your card through two scanners instead of one. The second scanner could be capturing your account information to make a counterfeit card. In general, be alert for suspicious-looking devices that may be used to "skim" information from your card.
  • If you use your debit card to shop online, consider extra precautions with your personal computer. Experts advise installing and periodically updating virus and spyware protection and a "personal firewall" to stop thieves from secretly installing malicious software on your personal computer remotely that can be used to spy on your computer use and obtain account information.
  • Look at your bank statements as soon as they arrive. Or, better yet, review your account each week by phone or the Internet. Promptly report any discrepancy, such as a missing payment or an unauthorized transaction, to your bank. Your quick attention to the problem may help limit your liability and give law enforcement authorities a head start on stopping the thief.

What federal protections cover consumers who use debit cards?

The federal Electronic Fund Transfer Act (EFTA) protects you from errors, loss or theft of your debit card. However, unlike the Truth in Lending Act protections for credit cards, which cap a consumer's liability for unauthorized transactions at $50, the law limits liability to $50 if the debit cardholder notifies the bank within two business days after discovering the theft. If you don't notify your bank within those two days, you could lose up to $500, or perhaps more. In the worst-case scenario — if you receive a bank statement that includes an unauthorized debit-card withdrawal and you wait more than 60 days to alert your bank — you could be liable for any amounts from transactions made after that 60-day period.

The good news is that many banks don't hold a consumer responsible for unauthorized transactions if he or she notifies the institution in a timely fashion. But remember that with a debit card, the money tapped by the thief has already been taken out of your account.

Under the EFTA, a bank has 10 business days to investigate the matter (20 business days if your account is new) and report back to you with its results. If the bank needs additional time, it may, under certain circumstances, temporarily give you some or all of the disputed amount until it finishes its investigation. Generally, a bank is allowed up to 45 days of additional investigation time (90 days for certain transactions). verified by visa bank of america until the dispute is resolved," said Creamean, "you should be prepared to pay your mortgage, car payment, credit card bill and any other obligations that may come due." Also, she said, if the bank's investigation finds there was no error, theft or loss, it can take back the money it put into your account, after notifying you.

Source: FDIC Consumer News


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