Debit card safety is foundational to financial management, but not everyone knows how to keep their card safe from fraud. Even if you’ve used a debit card for decades, technology evolves quickly and there are likely new safety measures you’re not yet aware of.
To make sure you’re taking necessary precautions for your financial safety, take note of these seven steps to ensuring your debit card is managed well:
1. Make sure your bank has your contact information
If you’ve recently changed your contact information and didn’t update your bank, now is a great time to do that. Ensure your bank has your correct phone number and email address. At The Bank of Missouri, we monitor your card 24/7. You’ll be notified by text, email or phone if we notice suspicious activity. Simply respond to let us know if the transactions were authorized or not.
2. Keep a close eye on your account
Using your bank’s online banking and mobile app is the easiest way to keep an eye on your account. Bank of Missouri customers can enroll on the website or in our mobile banking app.
Log in to the app with facial recognition or a fingerprint for fast access to your account. And if you’re not a heavy smartphone user, you can always access your account on our website too. Whichever method you use, it’s a good idea to check your account every day or two.
3. Use your phone’s mobile wallet to pay
Some people are hesitant to try the mobile wallet because the technology is unfamiliar to them. However, it’s one of the most secure ways to pay. When you pay with Apple Pay®, Samsung Pay and Google Pay™, your debit card number isn’t shared with the merchant. Rather, a unique number is generated for each transaction. See the top 3 reasons to use your phone’s mobile wallet >>
4. Be ready to suspend your card immediately, if needed
It’s now easier than ever to shut down your card right away if you notice unusual activity, if your bank has a good mobile app with customization. Prepare yourself with your options now so you’re not scrambling in the case of an actual occurrence of fraud. First, if you receive a notification from fraud monitoring, replying that there’s a problem will prevent future purchases on your card. And if you notice the problem first, you can mark your card lost or stolen right within The Bank of Missouri’s mobile and online banking experience. Of course, you can give us a call as well.
5. Set debit card alerts and controls
Manage your Bank of Missouri debit card in our online and mobile banking. Monitor transactions, set transaction limits, or turn your card on and off as needed. It also offers the extra security of controlling where your card can be used by setting limits, transaction types and location controls. Best of all, you can choose to be notified anytime your card is used.
6. Be cautious of suspicious calls or emails
If you get a phone call that your bank needs to issue you a new debit card and they just need your account number or existing debit card number to finish the transaction, don’t trust it. The Bank of Missouri will never ask you for that information over the phone. When in doubt, hang up and dial The Bank of Missouri directly at 888-547-6541.
7. Keep a record of your card number in a safe place
One of the most important things when a card has been compromised is quick notification to the issuing company. Keep a record of your account numbers, expiration dates and also the phone number and address of the issuing company. If your card is lost or stolen, you can quickly report it and take action against fraudulent charges.
Combating unauthorized debit card use
If your card has been compromised, the most important thing to do is to suspend it immediately. Use online banking on the website or the mobile banking app, or call the bank to quickly lock down the card. If you receive alert texts on your phone about potential fraudulent charges, you may also be able to simply reply to the text.
Next, get a new debit card. Many Bank of Missouri locations can issue a new card to you right there in the branch. Call to find a participating location.
Make sure you dispute any fraudulent charges, and request a credit report to check to see if the charge is related to a larger identity theft attempt. If so, you may need to change passwords.
Additional security resources
For additional fraud prevention and internet security tips, we recommend you visit the Department of Homeland Security website for their Stop. Think. Connect. Toolkit. The Bank of Missouri’s website also offers security information. Visit our Security Center >>
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