Protecting Your Debit Card Against Fraud

We’ve all heard the news stories about debit card scams, card data breaches at big box retail stores, as well as breaches online. Though it seems like there is always a new scam to keep an eye out for, there are ways to protect yourself against debit card fraud, and ways to quickly shut down fraudulent activity if it starts.

Guard Your PIN

When entering your PIN at a point-of-sale (POS), try to obscure the view of your entry on the keypad. This protects against any wandering eyes, but it’s also a good defense against any nearby cameras left by fraudulent actors, meant to “skim” card and PIN information.

It’s also a good practice to change your PIN from time to time. You can do this at any Montgomery Bank ATM or come inside and we’ll be happy to help you out.

Be Careful About Online Purchases

When making purchases online, it’s important to make sure that you’re on a secure website from a trusted vendor. Before entering any card information, look up at the web address and make sure you see a lock icon and an “https” before the URL—this lets you know that the page is secure. If you must make a purchase from a vendor you don’t know, consider using a credit card instead of your debit card.

Also, you should avoid entering your card information while on public or unsecure wi-fi, like at a restaurant, cafe, or library. These wi-fi networks can be easily compromised, so it’s better to wait until you’re on a secure connection.

Consider a Card Spending Limit

If your card data is compromised, a spending limit on your debit card can help slow down a fraudulent actor. Once a spending limit is reached, transactions during that 24-hour period will no longer go through. This can give you enough time to shut off your card and keep any further fraudulent transactions from occurring.

Use CardValet from Montgomery Bank

Though we might not be able to stop all fraud from happening with 100% certainty, we have the tools available to shut down any fraudulent activity quickly. The CardValet app allows you to monitor and control your debit card anywhere, anytime from your smartphone.

You can easily monitor all transactions right from the app, set up spending limits, and enable alerts to let you know if there is any suspicious activity. If you’re concerned that your card is being used fraudulently, you can turn your card off right from the app—no call to the bank required. This is also handy when you have misplaced your card—easily turn it off, and then back on again once it’s found. The app also allows you to manage several cards, which is great for families, especially parents who are teaching their kids about using debit cards for the first time.

Learn more about CardValet and download the app by clicking the link below!