When it comes to protecting our funds, we usually talk about how to protect your money from criminals who steal your information in order to gain access to a bank account or other financial accounts. But, unfortunately, it happens that the employees of the bank where you have an account can use your personal account without your knowledge.
And it can be not only fraudsters working in a bank, it can be a system failure or a simple human error, after which you may have financial problems.
Check your bills daily
This may seem redundant, but it is not, especially when it comes to your debit and bank cards.
Imagine that for some reason more than half of the funds were written off your debit card and you only found out about it in a few weeks – it will be difficult to prove to the bank that this did not happen according to your will. Especially if it happens at the end of the month, and you only find out about it at the beginning of the next. And if such an incident happens with a credit card? Then, if you do not prove your innocence, you will also have to pay interest on the loan.
In addition to the fact that you can immediately find a problem with the availability of funds in your account, daily checks will develop a useful practice in you to monitor the status of your accounts.
If you notice something suspicious or incomprehensible – contact the bank immediately and find out what steps need to be taken to repair the damage.
Know your defense
As a debit or credit card holder, you are protected by law, as a consumer. Remember these points:
If fraudsters have stolen your credit card number, but not a physical card – you should not be responsible for unauthorized payments.
If an actual card is stolen, you are responsible for no more than $ 50. In some cases, the issuing bank will not charge this amount.
If you report a loss or theft of your card within two business days, your liability will not exceed $ 50 for unauthorized transactions.
If you report a theft within 60 days, you can lose as much as was spent without you, but not more than $ 500.
If you did not have time to report the incident within two months, you may lose all the money that is in the account, including the overdraft amount and additional fees.
Choose a bank with good service
When you work with a large bank, it is sometimes difficult to get personalized service and proper attention from employees.
Get to know the work of other banks, find out from your friends how they are served in other organizations. Find out how the staff responds to specific requests, how much time it takes to process, and how it helps to solve unusual problems encountered by customers. The bank must confirm its status as a financial partner and communicate with it should be comfortable.
Do not share confidential information with anyone.
You should not send a card number or password from your personal account to friends and relatives via email, social network or messaging application. Moreover, it is impossible to provide information to anyone upon request, even to a bank employee. Remember, confidential information can be transferred only by phone and only if you yourself called the bank.
Keep in mind that fraudsters have long found ways to send you a text message or an e-mail as two drops of water similar to those sent to you by the bank. Do not rush to answer them, let alone follow the link. Having obtained the necessary information, a criminal can spend your money or borrow money in your name.
Use strong passwords and two-step authentication
Yes, it may take you too much time each time, but if it’s about your hard-earned money, it’s better to be safe. If you use the same password everywhere, then fraudsters can calculate your credentials from your personal account in the bank and select a password for it.
Therefore, it is very important to resort to additional protection of your information on the Internet. Many banks, for example, offer two-step authentication. The most common is a multi-digit password that comes to your phone. This is the minimum that you should use to protect yourself.
Separate home computer to enter the Internet bank
You can never log into the online bank through a public Wi-Fi network or from an unprotected device. Better yet, never enter your card details in such cases.
It is best to have a separate computer at home, which you will use for your banking and financial affairs. From this computer it is best not to visit any sites other than those that you need for financial transactions.
If you involuntarily click on an attachment in an email or on a link that contains a virus, this virus can scan all the files on your computer without your knowledge. Therefore, a separate computer connected to a home network that is not used to search the network, download movies, and actively view mail will help you avoid financial problems.
Always check the URLs of the websites you visit and where you are going to enter information about yourself. If you see https or the green padlock icon in the address, this means that the site uses an encrypted communication channel and is more secure.