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In fact, it's just as important to protect your debit card as you would protect cash, credit cards and checks. Debit cards are subject to a unique threat, called "skimming." Skimming occurs when thieves set up a device that captures the magnetic stripe and keypad information from ATM machines and gas pumps.
Did you know that the only difference between a "credit" and "debit" purchase with your 1st Bank & Trust Debit Card is that you are signing your name rather than inputting your PIN? If given the choice, wouldn't it make sense to sign you name rather than possibly expose your PIN to others? Choosing to sign your name and not entering your PIN prevents retailers from storing PINs unnecessarily in their customer database. Selecting "credit" doesn't affect how the transactions posts to your account. However, it could mean the difference in your financial safety.
To avoid becoming a victim of debit card fraud, consider these tips:
1. Check your bank account often by utilizing online banking. Make sure all payments are yours. If you do not have online banking , check your paper statements promptly when they arrive. 2. Contact your bank immediately if your card is lost, stolen or subject to fraudulent use. 3. Never store your PIN with your card, and do not make it available to others. 4. Know your limits. Many issuers limit daily purchases and withdrawals for your protection. 5. Do not use an ATM if it looks suspicious - it could be a skimming device. 6. Do not give your PIN number to anyone over the phone. Thieves often steal the cards and then call the victim for their PIN, sometimes claiming to be law enforcement or the issuing bank. 7. If a cardholder's balance is low, it's best not to use debit for purchases such as gas, where a hold of $50 will be placed on the card.
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