Consumer Tips to Avoid Being the Victim of Debit Card Fraud

To avoid becoming a victim of debit card fraud, the American Bankers Association offers these tips:

1. Check your bank statements immediately. Make sure all payments are yours.
   
2. Periodically check your account balance and transactions, by utilizing online banking, by telephone, or by printing interim statements at the ATM.
   
3. Contact your bank immediately if your card is lost, stolen or subject to fraudulent use.
   
4. Keep a record of card numbers, PINs, expiration dates and 800 numbers for banks so you can contact the issuing bank easily in cases of theft.
   
5. Memorize your PIN number. Do not use your birth date, address, phone number or Social Security Number. Never store your PIN with your card, and do not make it available to others.
   
6. Keep your receipts. You'll need them to check your statement. If they have your account number on them, tear up or shred receipts before throwing them away.
   
7. Mark through any blank spaces on debit slips, including the tip line at restaurants, so the total amount cannot be changed.
   
8. Know your limits. Many issuers limit daily purchases and withdrawals for your protection.
   
9. Do not use an ATM if it looks suspicious, it could be a skimming device.
   
10. 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.
    
11. Do not give your PIN number to anyone over the phone, often thieves steal the cards and then call the victim for their PIN, sometimes claiming to be law enforcement or the issuing bank.

For more tips and information, visit the Federal Trade Commission's website at www.ftc.gov.

Much usefull information one must read and understand well nowadays, but I have a suggestion which I posted almost every finance or debit/credit card forums I visited that the pin code length of most of the cards is too low (only 4 digits), hacking 4 digit code is very easy on ATM networks, it must be about 7-10 digits for secutiry purpose.

All good advice.

I especially have to remember to check all bank and credit card statements carefully. It's so easy to just glance at them and put them away without really checking properly.

Thanks for the tips. I never check my statements. I always use the same pin number for all accounts and my pin number is always the four digits. I just figured it would be easier for me to remember, not thinking it would be easier for other people to remember as well. Up until now, I was just asking for trouble, wasn't I?!

Yeah there is some great tips there, I have always done the same used the four same digits for all my accounts not thinking that it makes each account less secure.

So Thanks

I guess point number 2 is the most ignored thing. I always keep all the ATM and transaction receipts with myself for records.