Debit Card Secuity
How to Protect Yourself from Debit Card Fraud
Reporting Lost or Stolen Cards
Please report immediately if your debit or credit card has been lost or stolen.
There are several ways in which cards can be compromised.
- A skimming device could be secretly and unknowingly installed at the merchant. A card skimmer illegally copies information from the magnetic strip of a credit or debit card. The thief then sells and/or creates a bogus card using the information collected.
- The merchant’s system could have been hacked or otherwise compromised, exposing sensitive personal information.
- The merchant’s processor (the system that handles debit/credit card transactions) could have been hacked or otherwise compromised.
What should you do to protect myself?
- Your first line of defense is our PAL Plus online account access. Always be aware of all transactions affecting your account. If a transaction posts that you did not authorize, report it immediately.
- Make sure at ALWAYS enroll your VISA cards with Verify by VISA as soon as you receive them. This will help deter an online attack. To register, simply go to https://verified.visa.com/.
- Make sure to “like” WEPCO on Facebook to receive important announcements and posts.
- Notify all three credit bureau’s to place a Fraud Alert on your credit if you suspect fraud.
- WEPCO publishes articles to keep its members informed in its quarterly newsletter. They can also be viewed here.
- Check your bank account and credit card statements when you get them. Report any unauthorized activity immediately!
- Keep your credit card and debit cards safe. Do not leave them lying around where the information can be easily viewed or copied.
- Do not share your personal identity number (PIN) with anyone. Do not keep any written copy of your PIN with the card.
- For all online accounts you set up for yourself, choose passwords that would be difficult for anyone else to guess.
- Below are some Warning Signs provided by “Scam Watch” (link below to full site)
- A shop assistant takes your card out of your sight in order to process your transaction.
- You are asked to swipe your card through more than one machine.
- You see a shop assistant swipe the card through a different machine at the one you used.
- You notice something suspicious about the card slot on an ATM (e.g. an attached device).
- You notice unusual or unauthorized transactions on your account or credit card statement.
What is WEPCO doing?
- WEPCO’s debit and credit cards are backed by VISA’s zero percent liability for confirmed fraud.
- WEPCO has processes in place to charge back fraudulent items.
- WEPCO diligently works on refunding affected members of any fraud as soon as reasonably possible.
- WEPCO members have the security of knowing that all their share accounts are insured up to $250,000. (link below to full site)
Here are some websites to keep you informed on how you’re protected and how to protect yourself!
Federal Trade Commission: http://www.consumer.ftc.gov/features/feature-0014-identity-theft
NCUA Share Insurance: http://www.ncua.gov/Legal/GuidesEtc/GuidesManuals/NCUAHowYourAcctInsured.pdf
VISA Zero Percent Liability: http://usa.visa.com/personal/security/visa_security_program/zero_liability.html